Building a Deck? Here’s How to Maximize Your Return on Investment (ROI)
Adding a deck to your home is one of the best investment decisions you can make. According to Remodeling Magazine’s Cost Vs. Value Report, a homeowner can expect to recoup about 65% of the cost of building a new composite deck when the time comes to sell your home. Compare that to a bathroom addition where you recoup about 57% of the investment. With a kitchen renovation, the return on investment can be in the low 60’s range. If you are looking to add more living space to your home, building a new deck seems like a no-brainer.
Getting a strong return on your investment is only one advantage when you add a deck to your home. A second major advantage is that adding a deck to your home does not require you to take out a second mortgage. HomeAdvisor estimates that the average cost of building a 200-500 square foot deck is about $7,000. Of course, several factors can impact the cost of building a deck. This includes such things as the size of the deck, the geographic location, the materials used to build the deck and other add-ons that make your deck perfect for you. But on average, the cost of building a deck is a relatively affordable way to extend your living space outdoors.
The Advantage of a Second-Story Deck
Many homes that are located on rivers, mountains, lakes and other slopped terrain, will require the construction of a second-story deck. Raised decks are more complicated and costly to build than a ground-level deck. However, they often have the added advantage of providing a scenic view that you can’t get from the ground level.
Another significant advantage to building a two-story deck is that it doubles your outdoor living space if you use the area beneath the deck. Not only can you enjoy the top level of the deck but the space below the deck can become an outdoor extension of your home. This is a value-added feature of any home and typically allows a homeowner to recoup even more of their investment.
Keeping the Space Below Your Deck Dry
To increase your living space outdoors, you need to make sure the space below your deck stays dry. When building your deck install a deck drainage system that uses a network of troughs and downspouts designed to drain water away from your second-story deck. A system such as Trex RainEscape will keep the space below your deck free from the elements such as leaking snow and rain. Once protected, the space below your deck can be used in a variety of ways. For many homeowners, they maximize this outdoor living space by bringing the comforts of the inside-outside. A dry space under an elevated deck allows you to safely install lighting fixtures, ceiling fans, gas lines, speakers, and a television. Some homeowners even build an outside kitchen in their under deck space. Last, you can even finish this space by selecting a stylish under-deck ceiling of your choice. The dry space beneath the deck is also a great place to store bicycles, lawn equipment, and even large items such as a boat or camper.
Constructing a new deck on a home has many advantages. Perhaps, the greatest advantage of all is the ability to enjoy your outside space with your family and friends. Sitting outside on a beautiful night, grilling and enjoying the company of those around you is definitely worth the investment of building a new deck.