If you’ve considered building a deck for your home in New Jersey, you have a lot of options. But are you really sure you want to? After all, it can be a costly home renovation project. Many customers call Steel Penn for a quote on a new deck, but how much of this can you reasonably expect to recover if you sell your home? Keep reading to see why a new deck is worth it!
Money In Vs Money Out
The main question most people ask when they are deciding whether to have a general contractor install a new deck in NJ is how much it will cost, versus how much it will increase the value of the home. This is a great question, and the answer varies year-by-year. From the latest research available, you can expect to recover 70-80% of the costs you spent on your deck. That means that, if you install a $10,000 deck, you can expect to see $7,000-$8,000 additional when you sell your home.
The Value of Enjoyment
Is the return on investment worth it? It all depends on your needs. If you hate decks, and would never use one, don’t bother adding it just for resale—let the new owners absorb that cost and hire their own team to build their perfect deck. But if you would love to enjoy your new deck for a few years until you sell your home, consider if the recovery difference is worth it for your enjoyment.
Speed Up Sales
A final factor to consider as you debate installing a new deck in NJ is how quickly you want to sell it, and who you may be selling to. Millennials are some of the most active homebuyers these days, and their number one request? A deck for outside entertaining! While your deck may only add a few thousand dollars to the cash value of your home, your new deck can be the factor that makes or breaks your sale.
Ultimately, the team of home improvement contractors at Steel Penn would recommend a deck for anyone who loves to be outside in the NJ weather—at least when it’s nice! To find out more about the cost of your deck project, give our team a call.