Piggy bank and budget money

Budgetary Considerations When Building a Deck

Hiring Rochester, NY, deck builders can be a great way to make your back yard more inviting and interesting, while also adding significantly to the value of your home!  A great deck can become a second living room, a place for people to meet, share, eat, and enjoy spending time together.

Of course, adding a deck costs money, and it’s important to think about how this upgrade might affect your budget.  These are the most critical aspects to consider before you buy.

Four Important Budgetary Factors When You Hire Rochester Deck Builders

  1. Basic costs

Obviously, the cost of your new deck can vary quite a bit, depending on how large you want it to be, and what material(s) it’s made from.  If you want a ballpark figure, assume it’ll be around $35 per square foot.  Basic wood costs less than composite materials, though.  Our average cost for a wood deck is about $10,000, while a composite deck is closer to $15K.

  1. Impact on home value

Few, if any, upgrades and additions to your home will actually be worth more than you paid, if you sell your home.  What you want are upgrades that hold their value as much as possible – and a well-made deck delivers!  You can assume that you’ll get back around 60%-70% of the deck’s value when you put your house on the market, if the deck is well-maintained.

  1. Be prepared for increased taxes

In most areas, a major addition such as a deck will necessitate a new home inspection and valuation to ensure everything is still up to code.  There’s a high probability that the new deck will cause your home’s value to go up, particularly if you’ve made other recent upgrades as well.  This will mean higher property taxes.

There’s no easy way to estimate these costs beforehand, but you could try calling your local tax assessor’s office to see if they have any advice.

  1. Home insurance might become more costly as well

Unless your home insurance policy already covers decks, you’ll want to contact your insurance company after construction is finished and add deck coverage.  This will, of course, cause a small increase to your insurance costs.

Spartacus Construction Can Help

Spartacus Construction is a family-owned business with over twenty years’ experience providing great remodeling to the greater Rochester, NY, region.  If you want a new deck, or other home upgrades, contact us for an estimate!