|Posted by decksandeffects on April 19, 2010 at 9:50 AM|
Deck Lites is a small blog about local and national news regarding the construction, upkeep and enjoyment of decks.
A recent excerpt from "The Neighborhood" by Servicemagic.
According to Remodeling Magazine's 2009 Cost vs. Value Report, deck additions are currently one of the smartest investments a homeowner can make. Remodeling Magazine's annual Cost vs. Value Report is a comprehensive national survey of the average costs, resale values, and percentage of costs recouped of some of the most home improvements on the market. It's a great resource for homeowners across the country in helping to determine which projects will net the highest returns, and for getting an idea of what to expect regarding the average cost of major projects. Some of the more interesting excerpts from this report include:
Deck Additions On the Rise: 2009
Decks don't just promise high returns for homeowners, they're also one of the few home improvements on Remodeling Magazine's radar whose re-sale values and recoup percentages have maintained their position on the list of projects with the highest recoup percentages at number 2 in the past year. In 2009, a deck addition built from composite decking materials averaged $15,277 nationally, and increased home values by $11,260, or 73.7 percent of the initial investment. Decks built of pressure-treated wood, and the returns there are even more encouraging. Despite a lower initial cost at $10,601, the resale value of $8,676 for a deck built of pressure-treated lumber had a whopping recoup value of 81.8 percent. To put things in perspective, that 81.8 percent recoup value ranked an impressive secondout of all 29 of the major home improvements investigated by Remodeling Magazine in 2009.
What Does It all Mean?
While it's important to remember that those numbers are based on a national average, and that regional and city specific returns do vary, from a financial standpoint, the message is clear: a deck addition is a smart investment, especially in an unpredictable housing market. Even better, you can finally make a case for the financial viability of building a home addition that centers around weekend barbecues, Fourth of July parties, and kicking back with a glass of lemonade and a good book on a beautiful spring afternoon!
Making Your Dream Deck a Reality
Of course, if your aim is building a deck that you can enjoy and that will turn heads if you put your home on the market, you might want to consider incorporating a few extras into your deck design as well. Multiple levels, innovative deck lighting, built-in deck furniture, and throwing a spa into the mix, are all original ways to set your new deck apart from the competition. More importantly, they are excellent options for creating a deck that you and yours can enjoy for years to come, whether you end up putting your home on the market or not.