If you’re planning to improve your home, sell it in the future, or want to try flipping a house, you must add value to a house. It’s interesting to buyers to find out that a house has something different from all the other houses on sale. As a homeowner or seller, making the most out of the outdoor space is the best route for adding value to a home. Outdoor spaces are not always utilized, and the right decisions in the exterior could kick the value of a house up a few notches.
Regain the Costs in the Long Run
In a report from Remodeling Magazine, adding a deck with railings and a built-in bench is the fourth most valuable home improvement project for homeowners. The report projected that sellers could recoup up to 75.6 percent of the cost once it’s time to sell the house.
Now, you might ask why a 75 percent recoup rate is good enough. The costs of upkeep prevent the chances of gaining a 100 percent recoup. Selling something that needs constant upkeep involves selling it at a lower price.
Expand the Home’s Square Footage
Installing a new deck might not seem similar to building a new room. However, the presence of it still adds to the total square footage of a house. Adding a new deck might even be cheaper than actually adding square footage.
According to Home Advisor, a website that calculates expenses for home expansions, adding a 20 by 20 square foot room runs from $32,000 to $80,000. While adding a deck that isn’t an actual room of the same size costs $20,000 less. Both options add the same amount of space, but one offers an outdoor area and costs a lot less.
Offer Homebuyers a Coveted Feature
Buyers can range from baby boomers to millennials. According to a National Association of Realtors Research Group, 37 percent of homebuyers on the market are millennials, and many are looking for a deck. Earlier generations did not consider the idea that a deck as an option in their home as much as millennials do.
Therefore, adding a deck widens the audience that might consider buying the house, making it easier for you to sell the property.
Consumers look for value-adding features in the things they buy—that one thing that might make it stand out from the rest. Adding a deck to a home before selling it can be that feature. With a lot of people selling their houses at any given time, these decisions can increase the chances of selling the house more quickly than expected.
It also adds a bit of value which can increase your pricing. After all, this is a transaction, and you need to earn from it.
Prime Management is a Veteran-owned, American-made residential contracting company based in Birmingham. We take pride in our extensive background in providing thorough construction project planning. Our services include concrete installation, new home construction, and home restoration. We also have deck builders and roofing contractors to help you with your home improvement needs. What are you waiting for? Get a free quote today, and let us build your dream home.