"How to add value to my home" is a common question among homeowners, so we say - what better way to relax on a sunny day than sitting with a cold drink on your deck? Prospective buyers will imagine a similar situation when viewing your property at an open home. If they can picture themselves living in your house, it’s more likely they’ll put in a higher tender or auction bid.
Adding a deck or patio is one of the easiest ways to add value to a property. Done well, it extends the living area (at a minimal cost per square metre) and creates an indoor-outdoor flow for easy entertaining, which is really what many kiwis aspire to.
What return can you expect?
According to Westpac, a 30m squared deck made with pine, macrocarpa or a similar hardwood can cost between $5,500 and $15,000 and can add about 30 per cent value to a home. Some homeowners have recouped between 60-90 per cent of the building costs when selling, but how much depends on build quality, location, and extra add-ons. Any renovations must meet minimum performance levels in the building code. With good plans and materials, meeting the code can be pretty straightforward. If the deck is not more than one metre off the ground, you don’t need a building consent which can save you a lot of time and money.
DIY isn’t part of everyone’s DNA. Building your own deck could be one way for the skilled and competent to recoup some of the costs, but like most investments you get out what you put in. Using a builder may cost more in the short term, but a well-constructed deck will add more value than a sub-par DIY job with cheap materials.
If you don’t have a bandsaw, level, or nail-gun it might be cheaper to use a contractor, especially if you don’t plan on using the tools again. If you are looking at having someone else build your deck for you, get a few different quotes and be as specific as you can about the design so you can make an accurate comparison.
As with any renovations, there is no one-size-fits-all approach. A patio or deck must be proportional to the size of your house and space available in the backyard. There’s little point building a deck if it’s going to cover your whole section. You have to be effective with the space you have available.
What to consider?
Decks can come with all sorts of bells and whistles. Do you want to include a gazebo? Steps? Built in furniture? Pizza oven? While these additions may cost extra, you must weigh up the return on your investment. Extra features might add curb appeal, but will potential buyers be willing to pay extra?
You should also consider where the deck is being built. North facing will capture the most sun, but might be too hot for some in summer. A south facing deck will give you the early morning and late afternoon sun. Ideal during summer, but doesn’t encourage use during the day over the rest of the year. Are there any obstacles like hills, trees or neighbouring properties that could block views, sunlight or detract from your privacy? These factors, plus proximity to the main living areas, will all influence where a deck should go, and how much return your investment will deliver.
Want to give your home the best chance of success on the property market? Check out the tips in our free guide:
