If you’re thinking about adding a deck or patio to your home, you may be wondering which option is the better investment. According to the 2022 Cost vs. Value report, a wood deck has an average ROI of 87.4%, making it one of the top home renovations for increasing the value of your home. In contrast, a concrete patio has an average ROI of 73.9%.
Keep reading to learn more about the pros and cons of decks and patios, and how to choose the best option for your home.
One renovation that can add value to your home and provide a strong return on investment is a deck or patio addition. But which is the better investment: a patio or a deck?
Resale Value:
Both patios and decks can add value to your home, but which option has the better resale value?
According to the 2022 Cost vs. Value report, a wood deck addition has an average ROI of 87.4%, making it one of the top home renovations for increasing the value of your home.
In contrast, a concrete patio has an average ROI of 73.9%, making it a solid but slightly lower-return investment.
However, it’s important to note that the actual resale value of a patio or deck will depend on a number of factors, including the specifics of the project, the materials and finishes chosen, and the current real estate market. In some cases, a patio may have a higher resale value than a deck, while in other cases a deck may be the more valuable option.
Cost:
When it comes to cost, patios and decks can both vary significantly depending on the size, materials, and complexity of the project.
In general, however, decks tend to be more expensive than patios. According to the Cost vs. Value report, the average cost of a wood deck addition is $14,360, while the average cost of a concrete patio is $6,850.
Deck options
Each type of material has its own benefits, costs, and potential return on investment (ROI). In this section, we’ll take a look at some of the most popular decking materials and discuss their pros and cons.
Wood:
Wood is a classic choice for decking material, and it’s available in a wide range of species, including cedar, redwood, and pressure-treated pine.
Wood decks are attractive, natural-looking, and relatively easy to install.
However, wood does require regular maintenance, including sealing and staining, to protect it from the elements.
Wood decks also have an average ROI of 87.4%, making them a strong investment for increasing the value of your home.
However, the actual ROI of a wood deck will depend on a number of factors, including the type of wood chosen, the complexity of the project, and the current real estate market.
Composite:
Composite decking is made from a mixture of wood fibers and plastic, and it offers a number of benefits over traditional wood decking. Composite decking is more durable and requires less maintenance than wood, as it is resistant to rot, insect damage, and splintering.
Composite decks also have an average ROI of 80.5%, making them a solid investment for increasing the value of your home.
However, composite decking is generally more expensive than wood, and it may not have the same natural look and feel.
The installation process can be more complex than with wood decks.
PVC:
PVC (polyvinyl chloride) decking is another low-maintenance option, as it is resistant to rot, insect damage, and splintering.
PVC decks also have an average ROI of 76.6%, making them a good investment for increasing the value of your home.
However, PVC decking is generally more expensive than wood or composite decking, and it may not have the same natural look and feel.
The installation process can be more complex than with wood or composite decks.
Patio options
When it comes to choosing materials for your patio, there are a wide variety of options available.
Each type of material has its own benefits, costs, and potential return on investment (ROI).
Concrete:
Concrete is a popular choice for patios, as it is relatively inexpensive durable, and easy to install.
Concrete patios can be finished in a variety of ways, including stamped, stained, or colored, to create a unique and attractive look.
Concrete patios also have an average ROI of 73.9%, making them a good investment for increasing the value of your home.
However, concrete patios may not have the same natural look and feel as other materials, and they may require more maintenance, to protect them from the elements.
Pavers:
Pavers are individual stones or blocks that are used to create a patio surface. They can be made of a variety of materials, including concrete, brick, stone, or clay, and they come in a range of shapes, sizes, and colors.
Pavers can be used to create a variety of patterns and designs, and they offer a more traditional and natural look than concrete.
Pavers have an average ROI of 71.3%, making them a solid investment for increasing the value of your home.
However, pavers are generally more expensive than concrete, and they may require more maintenance, including sealing and cleaning, to keep them looking their best.
Natural Stone:
Natural stone, such as flagstone, slate, or granite, can be used to create a patio surface. Natural stone patios are generally more expensive than concrete or pavers, but they offer a unique and natural look that can be very attractive.
Natural stone patios have an average ROI of 70.6%, making them a good investment for increasing the value of your home.
However, natural stone patios may require more maintenance, including sealing and cleaning, to protect them from the elements.
Gravel:
Gravel patios are a more casual and rustic option, and they are generally less expensive other patio materials.
Gravel patios are easy to install and maintain, but they may not be as durable as other materials and may not be suitable for areas with heavy foot traffic.
Gravel patios have an average ROI of 68.8%, making them a decent investment for increasing the value of your home.
However, gravel patios may not offer the same level of durability or visual appeal as other materials.
Brick:
Brick patios are a classic and traditional option that can add a warm and inviting feel to your outdoor space.
Brick patios are generally more expensive than concrete or gravel patios, but they are very durable and can last for many years with proper maintenance.
Brick patios have an average ROI of 65.9%, making them a good investment for increasing the value of your home.
However, brick patios may require more maintenance, including cleaning and sealing, to keep them looking their best
Covered Patios and Decks:
A covered patio or deck can provide additional protection from the elements and increase the usable space of your home. A covered patio can be a good choice if you live in a hot or rainy climate as it can provide shade and help to extend the usable season of your outdoor space.
A covered patio or deck may offer a slightly higher ROI than an uncovered option. As a covered space can be used more frequently throughout the year and may be more appealing to potential buyers.
Difficulty of Installation:
The difficulty of installing a patio or deck will depend on the specifics of the project and your experience with DIY projects.
In general, however, decks tend to be more complex to install than patios.
A deck requires a solid foundation, framing, and decking material, while a patio can be built on a variety of surfaces, including concrete, pavers, or gravel.
Permits:
Whether you need a permit to build a patio or deck will depend on the local building codes and zoning laws in your area.
In general, most decks and patios will require a building permit. The process for obtaining a permit will vary depending on your location, but generally you’ll need to submit a set of plans that show the location and size of the proposed patio or deck, as well as any supporting structures.
Conclusion
Overall, both patios and decks can be great home renovations that add value and appeal to your home. By carefully considering the resale value, cost, and other factors, you can determine which option is the best choice for your home. Be sure to check with your local building department to ensure that you have all the necessary permits, and consider hiring a professional if you’re not comfortable tackling the project on your own. With careful planning and execution, you can create a beautiful outdoor space that provides a strong return on your investment.
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