Even though their average resale value slipped slightly compared to last year, basic wood decks still ranked among the top 10 home improvement projects in the annual Remodeling Cost vs. Value Report. According to Realtors who were polled for the report, a 16-foot by 20-foot deck with an average construction cost of $10,048 could be expected to recoup $8,085 of its cost if the house were to be sold in 2015, a return on investment—or ROI—of 80.5%. In comparison, the report found that a similar deck built with composite rather than wood decking would cost $15,912 and recoup $10,816, a yield of 68%. If you’re building high-end composite decks, you might want to steer your clients away from Cost vs. Value, though. It found that a composite deck that cost $36,385 to build would recoup only $21,437, a 58.9% ROI. The best home improvement investment? A steel entry-door replacement, with an estimated project cost of $1,230 and an average ROI of 101.8%, or $1,252. In general, the report found that small-scale exterior improvements provide significantly higher ROIs than expensive interior projects, such as master suite additions and kitchen or bath remodels, regardless of which region of the country you’re working in. You can read a detailed analysis of the economic trends revealed by the data in the report here.
