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Daily Real Estate News | May 12, 2008
Outdoor Decks Grow in Size, Popularity
Even in this tough market, a nice outdoor deck is a feature any home buyer can love.
The size of the average deck on an upscale home has doubled in the past 10 years, to about 700 square feet, according to Harvard's Joint Center for Housing Studies (JCHS).
Decks are particularly popular with young families. Parents like the idea that children can be outdoors, yet contained in a safe place.
However, Home builders don’t seem to have gotten the message that decks are popular. Ninety percent of all decks are added as a remodeling project, says Steve Van Kouteren, of consulting firm Principia Partners.
The cost of the average deck project has risen 40 percent since 2004, to $10,347, according to JCHS. But it's an improvement that tends to pay off pretty well at resale. Homes on the Pacific coast get a 108 percent return on when the home is sold, according to Remodeling magazine. Those in the upper Midwest, where the season for outdoor living is short, get only 71 percent.
Source: SmartMoney, Brad Reagan (05/01/2008)
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