Well, decks do, according to Remodeling magazine’s 2009 Cost vs. Value study. The study found that outdoor home improvement projects are leading the way in resale value, with wood and composite decks scoring high when it comes to cost vs. resale value. What we found most interesting:
If you live in the Pacific Northwest, the average resale value of your deck jumps by more than ten percent. Northwest wood decks retain 91.5% of their original value, with composite decks clocking in at 82.1%. That means regardless of the type of deck you install, after taking the resale value into account you’ve only paid from 8.5% to 17.5% of the actual price.
Why are decks valued so highly? The most obvious reason is the transformation of your backyard into functional space.
Outdoor living space. Turning empty, unused land in your backyard into an extension of your house is one of the most cost-efficient home improvement projects possible, especially when compared to building onto an existing space or completing an unfinished room. Not only does adding an “outdoor room” make sense from a cost point of view, but it creates a truly wonderful living space with tons of uses.
Curb Appeal. Prospective home buyers are a tricky bunch, and the smallest details can pull someone in or send them on their way to the next property. Adding a deck is a great way to entice would-be homeowners to give your house a second look. With so many opportunities to list your house online, having a stand-out feature like a deck can grab attention fast.