Backyard decks have replaced patios and front porches as the social centers of suburbia in the summer, according to Homes.com. Decks are elevated to catch summer breezes and to facilitate conversations with neighbors on their decks. Large enough for a table and grill, most decks are more versatile than front porches and provide privacy from street traffic.
So how much is a deck worth? If you are house-hunting, how much does a deck add to the value of a home you are considering? If you are thinking about adding a deck, will it pay for itself when you sell, adding more value than the cost of construction?
In the NAR/NALP study, a new wood deck will recover 106 percent of its value when the house is sold. Estimated construction cost estimated was $9,450, and the estimated value that a new deck adds to the house value at the sale was $10,000. A wood deck ranked third out of the ten projects addressed by the study regarding cost recovery.