The best way to add value and enjoyment to your home is to build a patio or deck in your backyard. A deck or patio is great for gathering friends and family. It gives you a place to stand or sit and talk to people outside in the fresh air. It lets you conveniently pop outside without worrying about tracking in dirt, mud, and other debris. It provides a solid, even surface for doing outdoor projects. Decks and patios just make life easier in a lot of small ways that you might not even notice.
Concrete patios on average cost up to $6,400 depending on size and materials. But patios can recover up to $6,525 of that original cost in value added to your home, making them a solid and smart investment in most cases. Wood decks can cost up to $10,000 and have a slightly lower ROI of about 80% cost recovered – still a very good investment, especially given that these features are known to make or break a sale.
In order to recover the maximum amount of the money you put in, it is essential that you put in the right size patio or deck for the home. If you make it too large or too small, it can look out of place or take up too much valuable yard space. It is also critical to make sure your patio or deck is properly constructed, or you could find yourself saddled with costly repairs in the not-so-distant future.
As a rule of thumb, a simpler deck or patio design is better for recouping value. After all, it is literally just the foundation for your outdoor living space. You can easily turn it into a nice sitting area or wheel out a barbecue pit and turn it into a cooking station. Better yet, you can take your deck or patio to the next level by adding a real outdoor kitchen.