Home improvements do not only add comfort to homes, but they can also increase properties’ value. However, not all home improvement projects yield the same increase in value. Because of this, homeowners are becoming selective in which projects to do.
One of the more popular home improvements in the UK is outdoor renovations, including landscaping, adding decks, and creating a suitable and beautiful outdoor space. But the question is, is it worth it? How much property value do they add in the UK?
Is it worth it?
According to many studies, having a beautiful outdoor space is a huge selling point for potential buyers. For most people in the UK, any extra space for living areas, relaxation, and entertainment is very much welcomed. Having a well-developed, carefully-designed backyard can give the appearance of having a spacious living space. And because first impressions are the most important when it comes to real estate, adding a deck can increase the number of potentially interested buyers.
Even if you don’t plan to sell your home soon, improving your landscaping, adding decks, and designing your patio are more so worth it. Not only do they add property value, but they also increase comfort and satisfaction. Nothing beats a relaxing space after a hard day’s work, or having an extra space for recreational purposes.
How much value do decks add?
One of the many backyard home improvements you can do is to add a deck. The truth is, for you to make a suitable living space, the first thing you will need is a deck. But the question is, how much value does it hold? Is it worth it?
While there are varying opinions on how much a deck adds value to your home, many experts in the UK agree that on average, it can add 10% value to your home. So if you’re looking at a £250,000, that’s a £20,500 increase. Of course, it may not apply to all circumstances. But regardless, adding a deck will increase your home value.
Aside from adding a deck, landscaping and gardening also have a huge impact when it comes to selling houses. Small makeovers can increase your home’s value by at least 5%. So if you execute a well-planned home improvement for your outdoor spaces, you can potentially add 20% from decking, landscaping, and decorating your home’s exterior.
Factors that affect deck’s added value
As previously mentioned, not all values apply to every situation. Some factors can increase or decrease the value a deck may add to a property. Here are some of the things that you should consider.
- The material of choice – When it comes to decking, there are a few options that you can choose. One of the most popular ones is composite and wood. Wood has a lower cost, which in turn can potentially add more value. However, because of the high upkeep and short lifespan, it’s not the best if you don’t plan to sell your home as soon as possible. On the other hand, composite decking may have a higher cost and has a lower return on investment. A wood deck can give you at least 80% return on investment, whereas a composite deck sits at least 70%. However, it has superior durability and can last at least twice as long as wooden decks. If you plan to enjoy the deck and add comfort on top of value, then composite decking is the best choice.
- Location, Weather, and Trends – Another factor that you should put into consideration when building a deck is the area where you live in. For places with prominently cold weather, adding a deck, or any improvements related to outdoor activities, may not sell well. Whereas in areas where outdoor activities are enjoyable, adding decks can shoot the value of your home up. You may also want to check in with the local trends. But as far as the UK is concerned, a beautiful deck is very much welcomed.