Outdoor living projects can provide us with the style and extra space to relax and entertain friends. Outdoor kitchens and bbq’s as well as decks and patio structures have become more of a necessity than in previous years. Outdoor living lets us enjoy recreation without leaving the comfort of home. In general, home and lot sizes are getting smaller, so expanding our outdoor living gives us more useable space and valuable square footage. Investing in outdoor living projects can sometimes carry a substantial price tag, however the return on investment numbers may surprise you.
The charted statistics from 2016 display National and West Coast (Pacific) regional remodeling averages for 2016. The chart averages show us that adding a deck actually provides a better return value than a bathroom addition or remodel. We can see from the chart data that in both National and Pacific locations, the addition of a deck provides a better value than a bathroom addition. On the west coast, the return is a staggering 88.9% return for a wood deck and 76.9% for composite decks.
Question: “Why does the wood deck provide a better return than the composite product?”
Answer: -The wooden deck costs less so the dollar for dollar return generates a higher percentage however based on lifespan these numbers could change.
The typical lifespan of a wooden deck is 10-15 years and the lifespan of a composite deck is 20-30 years. People tend to gravitate towards decks and actually prefer the warm feel of wood and faux wood in comparison to concrete or other masonry surfaces.
Projections for remodelers and contractors :
Outdoor living projects rank in the top 5 new revenue sources for remodelers based on a survey by the Farnsworth Group (oct 16′). It looks to be a busy year for residential remodeling and outdoor living projects, with deck construction ranking among the most desirable additions to a residential home.
