A well designed and constructed deck is a good way to add living space to your home without the costs associated with adding a room to your house. Privacy fences on the back of your property are a good value as long as they are properly constructed. Building a deck or a fence that adds value to your home is not a project that should be started without some serious research.
Composite decking is constructed with a wide variety of recycled and man-made materials. Composite decking provides low maintenance, with warranties of 20 to 25 years. According to data provided by Remodeling Magazine, average construction cost for a composite deck is $15,579 with a resale value of $9,780. This allows you to recoup 62.8 percent of your original construction costs. To enhance the appraised value of your deck, make sure you have a design that enhances the appearance of your home.
Wood decking provides the opportunity for you to use natural materials that will enhance the overall appearance of your home. There are a wide range of wood products available for you to select from, including cedar, oak, redwood and exotic woods such as cumaru and tigerwood. The average cost of a wood deck is $10,350, with a resale value of $7,259. This ratio allows you to recoup 70.1 percent of your original construction costs.
The value a privacy fence may add to your home is difficult to quantify. In most communities, privacy fences must comply with strict building codes and standards. Fencing has very little value if it is poorly maintained, or does not meet building codes. You will need to apply for a building permit to ensure your fence is inspected for code compliance. Privacy fencing in your front yard generally distracts from the value of your home. To gain the maximum possible value, ensure the style of your fence does not conflict with other fences in your neighborhood.
Your local real estate broker is the place to begin before beginning a deck or fence project. Real estate brokers have access to listings of appraisal values of comparable properties in your neighborhood. Your real estate broker will know if decks and fences are an important feature for homes in your area. As an example, if your home is next to a lake, a deck may be very important. In some sub-divisions, privacy fences are not permitted and would not increase the appraised value of your home.
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