Decking and Outdoor Living

For the past decade, homeowners have been investing more in their decks and outdoor living areas, adding on products like synthetic decking, fiber cement siding or new roofing. And not surprising, studies are reflecting changes to what many call investment improvements. In some areas, outdoor living improvements have matched or exceeded popular kitchen or bathroom projects.

Exterior replacement projects, which peaked in 2005, have made their way to the top of the rankings; and now they occupy the majority of the top spots in terms of cost recouped. One reason is that curb appeal influence prospective buyers. And  outdoor projects like composite decks and pressure treated wood decks typically cost less than remodeling a kitchen or master bathroom. So why spend more on an investment improvement when your intention is to sell your property. I say spend wisely.

The 2009-2010 Cost vs. Value report published by Remodeling Magazine evaluates returns on investments for various home improvement projects based on regions of the country. Specifically decks, like other home improvements suffered in 2007-2008, but indicators are improving. Keep in mind the percentage listed on the return is the amount of money you would potentially get back if you sold your home within the 1st year after completing the project.

Here are two good examples of cost versus value for composite decking:
East North Central Region (which includes Ohio, Indiana, Michigan, Illinois and Wisconsin), if you spent $15,619 on a composite deck addition, you would potentially get back 62%, or approximately $10,000 back if you sold your home within a year. 

The recouped percentage only gets better if you add a midrange composite deck in New England. If you spend $15,724 on a new composite deck you can expect to recoup a whopping 71.5% when your home sells. Naturally the longer you stay in your home; the percentage should rise accordingly each year.