This is more a question on a financial base that can be answered by a proper and licensed Realtor and/or Appraisor.
The reason I am asking this as a builder, I would like to know how I can sell this to the customer and say it would increase the value of their house by this much, or this percentage?
Either by the square footage and/or the whole project, e.g. a solar system most of the time increases the value of a home, and a swimming-pool most of the time can decrease the value of a home, especially older people here in Florida, that ask me to fill it in with dirt and grow flowers in it!
For a Home-owner, it is more of a added value for his home and his family, or just to have a nice area to sit outside with the famile, not walking into grass or tracking dirt inside the house.
A recent study indicated that the average new wood deck, added to a home, brings back a return of 70.1% of the original investment. Size, location, quality, design, style and many other factors may signifcantly change the ROI.
Don’t forget the pride of ownership and vlaue of enjoyment in your sales presentation.
Decks are a great return on the investment. They are a great enhancement, and are generally for the purpose of recreation and enjoyment of the home.
My brother is a Class A Contractor in Northern Viirginia and a bulk of his work is equally pressure treated decks and finished basements. Most homes in the greater MD./VA./D.C. area have them,and they do add to the appraised value of the home. They are a staple part of home back there as far as I can remember. I believe the return in in the mid-70% range in that area. And my brother is constantly busy. The more elaborate the design,how many levels, and more square footage of recreational space, assures increase in value. Some homes have main back decks and additional decks off off bedrooms,and family rooms. Back there, it seems like neighbors compete with each other for having the coolest deck on the block. It’s usually the first personal touch on the list of new ome buyers list in that region.
The decks I have built in Los Angeles have had some great designs but not as grandios as back East The wood of choice here is redwood. Mainly oblong observation decks for the homes with a view the full length of the house. Or as pool surrounds.The return is about the same here,in the mid-70 percentile.
To add to my answer,I would imagine concrete patios are be similar in value. Patios are also considered a recreational enhancement for the enjoyment home and its surroundings.
The answers below are great but I just want to add that, as in everything, you need balance. I’ve found in my own REI that adding too small or even too large a deck reduces your ROI.
Decks are a maintenance liability. Though they are cheaper, they require more maintenance than concrete or stone.
Decks need to be frequently cleaned, bleached, sanded and sealed or stained. Over time, the wood may discolor. Nails and screws need to me replaced. Warped, split and splintered boards need to be repaired. Wood decks allow critters, skunks and racoons to reside under them. And contrary to what you may have read, redwood decks are not termite proof.
Plastic lumber still looks like plastic… sorry trex, you still look like recycled coke bottles! In areas of high heat, plastic lumber warps and twists. And it may not regain it’s original shape after it cools.
If you can afford concrete or stone, they require less maintenance. In wildfire areas, they will not contribute to the flammability of your house. They also help direct water away from the house, protecting your foundation and basement.
