Decks seen as top reno payoff
March 3, 2018
While kitchens and bathrooms remain the perennial money rooms when it comes to renovation payoffs, adding or expanding a deck is now being ranked as high or higher, at least according to U.S. studies.
With a shorter summer season in Canada, decks may not deliver the same payoff performance, but U.S.-based Remodelling magazine’s annual cost versus value study says the deck trend held steady even in northern states.
According to the magazine, on average, a deck addition continues to grow in value, offering up to an 82.8 per cent return on the investment. This nudged out a mid-level kitchen renovation for 2018, which had an average pay off on 81.1 per cent. A major kitchen renovation of more than $125,000 will only get you a return of $63,750.
Bathrooms are coming in a little higher with an average return of 70.1 per cent, the cost survey shows.
If a client requests a deck, though, it is wise to consider some options and add-ons, says Azek Building Products, which makes TimberTech (composite deck material).
A Freedonia study found that the typical wood deck lasts about 10 years. One made of materials that combine wood and polymers can last years longer, according to Azek Building Products, because the composites resist rot, water damage and insects.
Experts also recommend adding some character to the deck—perhaps with two or three levels, or built-in seating.