Thank you for joining us for the last installment of our series, Remodeling Projects That Will Increase the Value of Your Home. All of us here at Somerville National Bank know and understand just how important your home is to you and yours. This is why we elected to create this series. We wanted to provide you with inexpensive – yet, highly creative – ways to change up your home and increase its overall value.
In the past several weeks, you have been introduced to the projects of installing energy-efficient windows, updating your home’s siding, and installing skylights. This week, we will talk about adding a deck to your home.
The Deck Addition
A deck addition is a fun and creative way to increase your home’s value. Not only does it make the current space look fantastic, but, it opens up a whole new region of places to relax, unwind, and entertain!
According to real estate professionals, a homeowner that elects to add a deck to their home and then attempts to sell that home could experience anywhere from a 70% to a 95% return on their initial investment.
In a world that is becoming increasingly expensive, many families are starting to vacation at home. As a result, the outdoor living space is taking on a new level of popularity. If you are in search of a budget-friendly way to change up your living space and add value to your home, this is the way to go!
In most instances, a deck is added as an attachment to the home. It is typically created from either wood or composite-based deck materials. You must determine – prior to purchasing your materials – where you are going to place the deck. If you have a small amount of land, you will probably want to construct the deck over a garage, on an unused area of a driveway or other type of area, on a hill, or, in the front yard.
You may also add a deck outside on the second story of a home, or, as an attachment on a single story home. If you have a large amount of property, you will be able to add the deck in just about any area that you desire; however, be sure to check with your local ordinances. You may be required to pull permits for such an endeavor.
It is not very expensive to construct a deck or attach an already-constructed deck onto your home; however, it may be more than most people have on hand for a home improvement project.
If you require assistance with your project, you should know that we here at Somerville National Bank have a multitude of options when it comes to home improvement loans. We have excellent terms and very low interest rates.