With respect to remodeling ROI, do composite decks have a higher return on investment (ROI) than wood decks? A composite deck is the better investment when it comes to resale right? The answer is NO according to Remodeling magazine, a Hanley Wood publication. A wood deck addition results in a higher resale ROI than a composite deck. Who knew?
Remodeling ROI – Decks
As it turns out, adding a deck to your home is one of the most worthwhile of all home improvement projects when it comes to ROI. In Remodeling Magazine’s annual “Cost vs. Value Report” the average wood deck addition project returns about 87% of the original investment.
Adding a wood deck gives you one of the highest returns in the survey. One reason why a deck is such a good investment is because it increases the homes living area, albeit outdoor living space, at a minimal cost per square foot.
The following table illustrates the trends for the South Atlantic – Richmond, VA (RVA) according to Remodeling magazine’s annual survey:
|Deck Addition||JOB COST||RESALE VALUE||COST RECOUPED|
|Deck Addition (composite)||$14,891||$11,024||74.0%|
Once you install that awesome deck, why not build a few Adirondack chairs?