Article From HouseLogic.com
By: John Riha
Published: December 15, 2009
A high return on investment makes a deck addition a worthwhile home improvement project.
Adding a deck to your home is one of the most worthwhile of all home improvement projects. In fact, according to Remodeling Magazine’s annual Cost vs. Value survey, a wood deck addition project returns on average more than 80% of the original investment-one of the highest values in the survey.
One of the reasons that a deck is such a good investment is because it increases living area at a minimal cost per square foot. The national average for new construction costs of a two-story, 2,000 sq. ft. home is about $90 per sq. ft, according to the National Association of Home Builders, However, the construction costs for a wood deck are less than $35 per sq. ft.
The return on your deck investment will vary according to the region in which you live. In the Pacific West, where construction costs are generally higher than other parts of the country, decks are more expensive to build. However, the return on investment is also higher than other regions. Part of the reason can be attributed to the fact that in many areas of the temperate Pacific West, the outdoor living season is virtually year-round, making a deck a solid investment.
National average cost, 16×20 ft. deck, pressure-treated wood decking:
Job Cost: $10,634
Resale Value: $8,573
Cost recoup: 80.6%
National average cost, 16×20 ft. deck, composite decking:
Job Cost: $15,373
Resale Value: $10,904
Cost recoup: 70.9%
New England (http://www.remodeling.hw.net/2009/costvsvalue/division/new-england.aspx)
Middle Atlantic (http://www.remodeling.hw.net/2009/costvsvalue/division/middle-atlantic.aspx)
South Atlantic (http://www.remodeling.hw.net/2009/costvsvalue/division/south-atlantic.aspx)
East South Central (http://www.remodeling.hw.net/2009/costvsvalue/division/south-atlantic.aspx)
West South Central (http://www.remodeling.hw.net/2009/costvsvalue/division/west-south-central.aspx)
East North Central (http://www.remodeling.hw.net/2009/costvsvalue/division/east-north-central.aspx)
West North Central (http://www.remodeling.hw.net/2009/costvsvalue/division/west-north-central.aspx)
Reprinted from HouseLogic (houselogic.com) with permission of the NATIONAL ASSOCIATION OF REALTORS®
Copyright 2009. All rights reserved.