If you’re thinking about selling your house, boosting your property’s worth, or building equity, choosing the right home improvement project, like adding composite decking, can be a smart way to enhance your home’s financial value and make it more attractive to potential buyers.
When it comes to improving your home, there are some general tips to consider. For instance, while many people in Australia enjoy having swimming pools, having one might limit your property’s market appeal. The expenses of pool maintenance and utility costs, coupled with safety concerns, can deter many potential buyers.
On the other hand, a nicely landscaped garden can substantially improve your property’s visual appeal and raise its asking price. However, overly complex, high-maintenance gardens may have the opposite effect and turn away potential buyers.
The key is to find a home improvement project that gives you the best return on your investment. While renovating your kitchen or bathroom can certainly increase your home’s value, these projects are costly and highly disruptive. So, if you’re not ready for a major renovation, what’s a good alternative?
Can Composite Decking Increase Your Home’s Value?
One of the most cost-effective home improvement projects, in terms of return on investment (ROI), is adding an outdoor deck. When it comes to home renovations, a deck is budget-friendly and can boost your property’s appeal to potential buyers.
A well-executed deck project can seamlessly connect indoor and outdoor spaces, increase living and entertainment areas without the expense of adding a new room, and help you make the most of your outdoor space, especially if your property has a sloping terrain. Plus, it can reduce the time and money spent on outdoor maintenance by reducing the amount of garden space.
When you’re considering an outdoor project with an eye on future resale, it’s about appealing to potential buyers’ emotions. A deck offers a lifestyle enhancement with minimal maintenance effort and costs, especially if you choose composite decking.
What to Consider Before Building a Deck?
If you’re thinking about a decking project to boost your property’s value, there are some key factors to think about before you begin.
Deck Location and Size
- The attractiveness of your deck depends on where it’s situated. If your backyard faces a back alley or a parking lot, the deck might not be very appealing to potential buyers. In contrast, a coastal property with a view of the beach will make a deck highly desirable.
- Take into account your geographical location and weather patterns. In places like Brisbane, you can use a deck almost all year round, but in Melbourne, you might only enjoy it for about eight months of the year, given the weather conditions.
- Consider where you position your deck. Decks that seamlessly connect indoor and outdoor spaces are more appealing. While the best views might be from the farthest corner of your property, it may not create the most desirable deck space if it’s a long way from the main house. Also, think about how well your deck is protected from wind, rain, and direct sunlight.
- Size matters too. A small deck is less expensive to build, but if it can only fit one folding chair, it won’t add much value to your home or attract buyers. On the other hand, an overly large deck might encroach on valuable backyard space.
Choosing the Right Decking Material
Your choice of decking material impacts not only the initial cost of your decking project but also the amount of maintenance needed and the overall durability of your deck. This decision is crucial for your deck’s long-term value.
Generally, timber decking is less expensive to install than composite decking. However, top-quality composite decking materials tend to last longer and demand very little maintenance, which can be more appealing to potential buyers.
If you live in a region with scorching summers or snowy winters, composite decking might be more attractive to buyers since it can withstand these weather conditions better. This means you’ll spend less time, money, and effort on ongoing or seasonal maintenance and repairs.
Consider DIY Deck Installation
If you aim to maximise the return on your deck investment when selling your property, think about tackling your deck project as a DIY endeavour. Whether you opt for timber or composite decking boards, a DIY deck installation can significantly reduce labour costs, making it more likely to recoup your investment and even turn a profit.
However, exercise caution: if your DIY work is subpar, it could deter potential homebuyers.
Invest in Landscaping
To take your decking project to the next level, think about investing in some landscaping for your garden. Basic landscaping can help blend your new deck seamlessly into your backyard, improve the view from the deck, and enhance your outdoor area’s appeal.
But be careful not to go too far. While some simple landscaping to spruce up your yard is attractive to potential buyers, overly intricate and high-maintenance landscaping can be a turn-off for many homebuyers.
For those looking to make the most of their investment, considering DIY deck installation can significantly reduce labour costs, but it’s essential to ensure the quality of the work. To further enhance the appeal of your decking project, consider incorporating some basic landscaping, which can seamlessly blend your deck into your backyard and improve the overall outdoor space. However, try not to overcomplicate landscaping, as high-maintenance designs may deter potential homebuyers.
In the end, carefully considering these factors and making informed choices, so you can not only increase your property’s value but also create a more enticing and marketable space for potential buyers, all while enjoying the benefits of your enhanced outdoor living area.