If you aren’t in the home construction or real estate industries, you probably missed the news that the new “Cost vs. Value” report for 2015 is out. Briefly stated, it looks at different home improvement projects regionally and nationally and attempts to quantify the cost of doing a project and how much the finished project will add to a home’s market value. This document is well regarded by professionals, but often overlooked by homeowners. I mention it because it conveys some important lessons.
The first and most important takeaway from this report is the same each and every year: the primary reason to build an addition or remodel your house is that it is something you want and will use and enjoy. If you assess almost any project solely on the the basis of the cost you will recoup from the financial investment, most of them are not worth it. The real value lies in how the deck or patio or bathroom or garage door will improve the quality of life you have in your home while you own it. Your home is an investment, but that’s secondary the the fact that is is where you live.
If you enjoy spending time outside socializing with friends and family, a Columbus deck (either wood or composite) remains a superior choice for a home improvement project in this area. Decks are wonderful places to spend time and make memories and one will almost certainly increase your home value at sale. According to this year’s report, at sale time, you will recoup 67.9% of your week deck investment and 55.8% of your composite deck addition. But, if you come home each night from work and head straight to the tub for a long soak, you may be better off with a bathroom remodel.
Installation of a home office provides very little payback at sale time, but if you need a home office, you need a home office. Again, your home is where you live (and maybe work) and it has to suit your lifestyle, needs and taste. The longer you plan to stay in your home, the more real value you will get from your project. You don’t want to be one of those people who waits until they are ready to move before doing all the delayed projects. Why should the new owner of your home get to have all the fun with the new fire pit you always wanted?
Digging a little more deeply into the report, we learn that the Columbus deck projects used to generate these numbers are cookie cutter affairs: 16×20’ rectangles with a railing, bench and 3 steps into the yard. Anecdotal evidence from our customers tells us that professionally designed custom deck projects like those created by Archadeck are almost always a featured selling point for homes when they go on the market. They dramatically improve the curb appeal of a home and are a feature buyers remember as they move from house to house, looking for the right fit. That’s a whole new level of value.
Contact Archadeck of Columbus today to see how we can make creating your dream backyard an enjoyable experience, start to finish. The consultation is completely free. (740) 879 – 3730 or email us at westcolumbus@archadeck.net. We look forward to your call.
Columbus Decks, Porches and Patios by Archadeck of Columbus 