Deck It Out: Why a Patio Might Be the Upgrade That Causes Your Resale Value to Jump
When it comes time to sell your home, even the most minor renovations can boost your home’s value, if they’re done right. You may want to consider adding a deck to your home for your own enjoyment, or to add value if you’re thinking of selling.
How Does a Deck Add Value?
Adding a deck to your property can have a considerable impact on your home’s value. There are a few reasons for this increase, but in general, the primary draw is the extension of living space, even in our northern climate.
Decks Are a Growing Trend
Decks, patios and outdoor living spaces are becoming increasingly popular among homeowners. So much so that, in today’s housing market, decks are among the primary features buyers look for when house hunting. Decks are now a fundamental feature of backyard spaces. Even smaller homes with hardly any grassy turf are fitted with a patio space. Such additions are growing in desirability, even surpassing the importance of traditional lawns.
Decks and Patios Add Extra Living Space
Traditionally, the designated living space of a residential property is contained within the house itself. Everything outside the walls of the house normally consists of a lawn, a garden and other greenery. In essence, these outdoor portions of the property are considered to possess primarily aesthetic value. The addition of a deck extends the living space previously restricted to the home into the outdoors. Patios, gazebos and decks allow inhabitants to enjoy their outdoor space while maintaining the relative comforts of an indoor space. Patio furniture, including tables, chairs and loungers, can help marry the two worlds.
Cost and Profit
Building a deck or patio space might seem like a huge (and risky) investment. After all, in committing to the renovation, not only are you spending money on the build, you’re also hoping that the higher resale value on your home will cover the costs of labour and materials and more. The fantastic thing about a deck is that it’s going to do exactly that. Depending on the complexity of the deck’s design and its size, the cost of building a deck can vary greatly, but in the end, the value a basic deck can add to your home.
Important Value Boosting Features
There a few fundamental features that have been shown to pique the interest of house hunters. Keeping affordability in mind, a desirable deck will be of a decent size – at least large enough to fit a two to four seated patio set. Be sure to get a permit from the city, or you’ll pay extra for one on a rush when the time comes to sell. You’ll also avoid costly improvements if it doesn’t conform to city standards.
At a relatively low cost, a deck or patio space can add tremendous value to your house. It’s an upgrade that improves your property’s appeal to prospective buyers by extending the liveable space and creating yet another way for the new owners to enjoy their new home.
About Sara MacLennan
Sara MacLennan is the Director of Marketing at Liv Real Estate and a licensed Real Estate Associate. The bulk of Sara’s experience and wealth of expertise lies in on-line technology and marketing both for agents and consumers. Sara is the former National Director for Interactive Marketing for Coldwell Banker Canada where she was responsible for an extensive training program traveling to offices across the country training agents and brokers on marketing and technology. Find Sara on Twitter @edmontonblogger.