A new deck is an opportunity to extend your home’s living space. It can also add value to your home — an important consideration whether you are considering selling your or have already settled into your forever home. In today’s post, local home improvement company State Roofing discusses how an outdoor deck can help boost your home’s value.
Why Should You Consider Increasing Your Home’s Value
The term “home value” is often associated with the house’s selling price. While home value can translate to a higher asking price for realtors, it’s not its sole benefit. For homeowners who are not considering selling their home, projects that can drive the house’s value — those that increase or extend living areas or fix flaws in the structure or design, for example — may be favorable towards your homeowners’ insurance or mortgage insurance premiums. A home with greater value may also have higher home equity, which can provide more flexibility, should you need to finance future home improvements.
Some projects can also result in some return on investment or ROI. According to the most recent edition of Remodeling Magazine’s Cost Vs. Value report, up to 52.3% of the deck installation cost can be recouped.
Benefits of Having an Outdoor Deck
An outdoor deck offers the following benefits:
- Extended living space. A well-designed deck can extend parts of your home and make use of otherwise unused parts of your yard. You can use it as a relaxing private space or an outdoor spot for entertaining friends and family.
- Increase overall appeal. Decking can improve upon the look of your yard, and is an ideal project if it’s just a patch of ground and landscaping is unsuitable for it. If you have a sloped or uneven yard, you can have a stepped or multi-level deck to fully utilize your yard.
- Reduce yard maintenance. Decks require relatively little maintenance, especially when it’s made of composite materials. If yard maintenance takes up a lot of your time, a deck can make it simpler.