If you want to increase the value of your home by improving the backyard, consider installing a patio or porch. These structures create entertainment space for your family and any guests who stop by.

You can use your porch year-round, starting with grill-outs in the summer and hot cocoa-fueled get-togethers in the winter.  

Not only can a deck increase the happiness you get from your home, but it can also increase your resale value and make it more appealing to buyers.

Learn more about decks, patios, and porches to see how they impact your home values and decide whether one of these additions is right for you.

How much value does a deck add to a house?

Experts estimate that decks have an average return on investment (ROI) of 72%. This means that your deck will contribute to your resale value when it comes time to list your home. However, to understand the true value of the deck, it helps to compare this project to other high-ROI investments you might be considering. 

Replacing an entry door is one of the highest ROI projects with an average return of 101%; however, this only applies to a steel door and is only relevant if your current door is insufficient. A mid-range kitchen remodel has an 86% ROI, which is also considered high.

Rounding out home improvements with the highest returns is window replacement, with a 61% ROI. A deck installation easily beaks this return level. 

While ROI when selling your house is certainly an important consideration when deciding to install a deck, you also want to evaluate how much joy this addition will bring to you. Many people use their decks every day when the weather is nice and entertain guests throughout the year.

You can create a space for your kids to play and for your friends and family to gather together. The same reasons that you want a deck are the reasons why this addition has a high ROI and is desirable to buyers.

Factors Influencing Deck Value

It’s hard to assign an exact ROI to your deck installation because these additions can vary significantly from one home to the next. The materials you choose, the size of the deck, and the location of this project will all impact your building costs.

The same factors will determine how much you get back for the investment. Here are a few things to keep in mind and answer before you start your deck construction.

Decide Between a Deck and a Patio

A deck is a platform built onto your house. It is usually elevated at least a few feet to prevent your family and friends from walking on the ground. Many decks are wooden and have railings built around them. Conversely, a patio is usually built on ground level and has a concrete foundation. While some people use these terms interchangeably, you will want to know the difference when seeking building quotes.

Patios tend to have lower ROIs than decks. This isn’t necessarily because of changes in consumer demand as much as the materials used. Composite decking is more affordable and has quickly made decks more popular.

Evaluate the Location and Size of Your Project

Two of the biggest factors that will contribute to project cost are the location of your deck and how big it is. While many decks are built in the backyard, it’s not uncommon for homeowners to request second-story decks and stairs to the ground level. If this is the case with your project, the overall cost might be higher because the deck needs structural support and stairs installed. 

Decks with a larger square footage cost more. Consider the amount of space your deck will take up to create a comfortable entertaining space. Keep in mind that many municipalities have zoning laws that require a certain amount of green space in your yard. This means you might not be able to build as large of a deck as you want if you have a small lawn. 

Choose the Best Materials for the Job

If you decide to move forward with a deck instead of a patio, you can choose from a variety of wood options. A traditional wood deck is highly desirable but also requires maintenance. You will need to regularly clean the wood and inspect it for rot.

If termites discover your home, your wood deck could get eaten away. 

An alternative option is a composite deck, which is made from materials designed to simulate wood. A composite deck is less delicate than a wood deck and the materials come in a variety of shades and textures. 

Pricing for composite options varies and wood prices also fluctuate throughout the year. Materials costs will impact the cost of your deck installation and the overall ROI.

Understand Your Maintenance Requirements

When you are considering different deck materials, don’t just focus on price. Consider the kinds of maintenance that come with each option and whether you can handle the tasks that come with them. 

For example, some homeowners want low-maintenance wood that could be found with synthetic materials. You might be able to easily hose down your deck or sweep it occasionally to keep it clean. However, if you want a nicer wood option, you may be willing to focus on the upkeep that comes with it. 

Finally, some materials do better in certain climates than others. Your contractor might recommend specific types of wood that last longer in your region. Whether you live in a dry state or a humid one, choosing the best possible materials will keep your deck looking better for longer. 

Consider Optional Add-Ons

Finally, evaluate any additions to your deck project that can make this space more enjoyable. It’s not uncommon for homeowners to build roofs over their decks and patios to create shade and enable their use year-round. You can also build a screen around the deck to keep it bug-free throughout the year. 

Some people even turn their decks into second living spaces. Set aside funds in your budget for furniture like couches, chairs, and a fire pit. You can even build an outdoor kitchen with a grill, refrigerator, sink, and cabinets. This last project might require the addition of water and gas hookups to your patio.

Cost Estimates for Deck Installation

All of the above factors contribute to your deck’s impact on your home value. A deck that is too small might not give you the ROI that you expect, while an entire outdoor kitchen might increase your budget beyond a reasonable reach for ROI. Unfortunately, the various moving pieces involved in deck installation also make it hard to estimate the cost of the project. However, it is possible to look at national trends to get an estimated price range. 

Across the country, most people pay $8,159 to build a deck. On the low end, these projects can be completed for $4,300. On the high end, you might pay more than $12,000 for your deck installation. Some homeowners even pay more than $23,000 if they want a large deck with several features and amenities.   

Materials make up about half the expense of the average wood deck. The remaining costs go toward labor and framing. If wood prices increase or the cost of composite wood changes significantly in the near future, the cost of building a deck could rise or fall. 

Not only will the size of your project affect the cost, but so will your region. Some states and cities are more expensive to live in than others, which means the estimates for your deck add-on could be higher.

Main Drivers of Deck Demand by Buyers

The demand for deck design in homes has changed significantly in the past few years. At the start of the COVID-19 pandemic in 2020, homeowners from all walks of life started investing in renovations. People were home more often and wanted to make their living areas more enjoyable. Demand for outdoor spaces, in particular, soared because people wanted safe spaces to meet. 

Even as the pandemic passed, potential buyers sought out houses that had outdoor decks. Some had become used to the wooden decks they built and wanted this feature in their next properties. 

In 2024, experts predict the decking market will stagnate as many homeowners who wanted decks now have them. Construction prices also remain high, limiting the ability of some people to afford these additions. This could mean that you get a good deal on your deck project and have it installed quickly if the contractor you work with has a more open schedule than in previous years.

High construction prices can also determine how much value wood decks and composite decks add to homes. Some buyers might seek out properties with existing decks so they don’t have to install their features themselves. Not everyone is willing to take on such a significant home improvement project.

Maximizing ROI with Your Deck Addition

If you want to showcase your outdoor living space in the home sale, there are a few steps you can take to maximize its impact on buyers – and therefore your home’s perceived value. It’s worth your time to position your deck in its best light so buyers view it as an asset. 

• Clean your patio before you list the home: depending on whether you have a wood deck or composite deck, you will want to wash or pressure wash the outdoor space. 
• Make any necessary repairs: check for any signs of rot, mold, termites, or wear. Consider replacing worn-out boards. While these issues might not deter buyers, they could raise red flags during a home inspection. It’s better to proactively make the repairs. 
• Stage your home: help people see how they can use your new wood deck. You might add lounge chairs, a grill, and other seating to make recommendations for relaxing on the deck.  
• Ask about low-cost upgrades: you might discover that screening in a space adds more value than expected. Small investments could have a big payoff. 
• Don’t forget the lighting: change the bulbs on your patio lighting or install lights to create a welcoming space at night. 

These steps can assure buyers that your deck is in good condition and is ready for their enjoyment. This builds excitement about your property rather than raising concerns about the maintenance and repairs of the outdoor structure.

Make Your Outdoor Space a Marketing Point in Your Home Sale

If you are building a deck add-on to increase your home value, make sure your real estate agent knows to highlight it during the sale process. Outdoor living spaces are highly desirable for some buyers who enjoy relaxing in the fresh air without leaving their homes. Your agent should know how to photograph the deck in a manner that attracts buyers. Once you know how much value does a deck add to a house, you can focus on maximizing those returns.  

To find a real estate agent in your area, turn to the professionals at FastExpert. We can help you find qualified agents who know how to market wood decks, composite decks, and everything in between. Whether you have a large patio or a small porch, your FastExpert Realtor can help you. Take the first steps to sell your home today.

Experts estimate that investing in curb appeal can increase your home’s value by up to seven percent. Not only does it create a positive first impression that makes buyers excited to see the inside, but it can also boost the perceived value of your property.

Several projects contribute to your overall curb appeal. Maintaining a neat lawn, planting flowers and shrubs, and cleaning the exterior can all improve the look and feel of your home. One project that could have a significant impact on your home is a paved driveway.

Paving or repaving your driveway can make your home easier to access and make your property more intriguing to buyers. 

In this article, we’ll answer whether or not driveways add value to your home and how different paving options contribute to the cost and return on investment (ROI) of the project. Evaluate the pros and cons of this option before you move forward with the project.

How Much Does a Driveway Increase Home Value?

A paved driveway can add up to $10,000 to your property value. Not only is this an investment in your home’s curb appeal, but it also makes your house easier to get to. Future buyers won’t have to worry about a muddy driveway in the rainy season or washing a dusty car when it is dry.

The amount that a driveway contributes to your property values will depend on your home, your region, and whether you are paving for the first time or repaving a broken driveway. Repaving is often recommended if your driveway has significant cracks or potholes. While repaving can increase your chances of getting an offer because of the boost in curb appeal, it might not have the same effect on your home value as paving your driving away for the first time. 

If you are considering paving your driveway, talk to your real estate agent about the potential impact this project could have on the value of your home. Both the aesthetic appeal and easy access to your property could make the investment worth it.

Different Materials Will Affect Your Return on Investment

To calculate the ROI of home repairs or renovations, you need two metrics: the cost of the project and the increase in your property values. While a new driveway can add up to $10,000 in perceived value, it is important to estimate the cost of the project to make sure it’s worth the investment.

The average cost of paving a driveway in 2024 is $4,500. On the low end, homeowners can pay around $2,500 to complete this project, but some people might pay more than $6,600 depending on the length of the driveway and materials used. 

When you request quotes for driveway paving, your contractor will likely give you an answer in price per square foot. They will measure the dimensions of your driveway and review your materials options. You can decide whether you want to invest in an elevated paving material or choose a more affordable option. 

Try to meet with multiple contractors and request pricing estimates for the project. This ensures you get a fair price for the same value the paving companies provide. Not only do you want to choose a cost-effective contractor, but you want to make sure they do a good job. This will help you sell the house and keep your driveway in good shape long after you move away.

Here is a breakdown of different materials and their costs to give you an estimate of what your paving project will cost.

Asphalt Driveway

You can expect to spend $3 to $5 per square foot to pave a driveway with asphalt. A two-car driveway will cost around $3,000 to pave on average. Some people refer to asphalt as “blacktop” because it has a dark black surface. Asphalt is commonly found in parking lots and can fade over time. 

Asphalt driveways aren’t recommended for homeowners living in warm climates. The dark color of the pavement will absorb more heat and make it painful, if not dangerous, to walk on. This can be particularly harmful to your pets. 

Asphalt can also become malleable and unstable in extreme heat. This means it could become dented if heavy objects are placed on your driveway. Even your car or truck could cause ruts in the asphalt. 

You can expect your asphalt driveway to last 25 to 30 years before you need to update it. When the time comes to replace your driveway, you can simply resurface it. This is often more affordable than replacing your driveway entirely and sets asphalt apart as one of the top paving options.

Concrete Driveway

A plain concrete paved driveway will cost between $5 to $7 per square foot on average. However, if you want a decorative driveway or more advanced concrete options, you could expect to pay between $8 to $18 per square foot.

If the only reason you’re investing in a paved driveway is to attract potential buyers, you will likely be better off choosing the basic version. This will increase access to your home without potentially deterring buyers who don’t appreciate your concrete color choice.  

Concrete is notably more durable than asphalt and requires less maintenance over time. A concrete driveway can last for several decades, especially if it is installed correctly. The main threat to your driveway is that it could crack. Cracks in the leveling can be difficult to repair without repaving entirely. 

Concrete driveways are often preferred in warmer climates because they are lighter. A light gray or white concrete material will reflect the sun’s heat and keep your property cooler.

Block Paved Driveway 

If you are considering making a significant investment in your home, consider a block-paved driveway. This option will cost between $10 to $30 per square foot. These driveways use individual pavers that are placed tightly next to each other. 

This choice will allow you to embrace your design preferences by choosing paver shapes and colors that appeal to your aesthetic. Remember that the goal of this project is to make your home appealing to potential buyers. You might be better off choosing pavers that are similar to your neighbors or styles that don’t stand out dramatically. 

This project will take longer than other paving options on this list because each paver needs to be individually placed. However, it can certainly add a wow factor to your home. Your pavers can last up to 75 years, proving that this upgrade is truly an investment in your home’s performance.

This project could be more expensive than you expect if your contractor wants to account for broken or damaged pavers. Experienced contractors typically buy 10% more pavers than they need in case some of the blocks break during installation. It is often better to pay for extra pavers than to have a half-finished driveway because your contractor needs to order more.

Gravel Driveway

The most affordable option is gravel, which can cost as low as $1 to $3 per square foot. It’s possible to finish your driveway project for a few hundred dollars, but most people pay around $1,500 for the job.

This is an ideal option if you want to save money and do a basic project that will appeal to buyers. You can let potential buyers decide whether they want to choose a more formal paving option, like asphalt or concrete. 

The cost of gravel driveways will depend on the materials you use. Pea gravel and crushed granite are two of the most affordable options, while river rock and quartz gravel will cost you more. The gravel you choose will depend on your budget, your aesthetics, and the impact this project has on your home. Some types of gravel are easier to drive and walk on than others.

Your contractor might be able to present different gravel samples and review the pros and cons of each. This can help you make the right decision for your home improvement project.

How to Choose the Right Materials

If you are certain that a new driveway can help you with the home sale process, the next step is to identify the right materials that will have the biggest impact. Not only do you want to maximize your ROI, but you also want to use your driveway to speed up the home sale process.

For example, while a gravel driveway might be an affordable option, it might not appeal to buyers or add much value to your home. It all depends on where you live. 

The first step is to look at other driveways in your area. If the rest of your neighborhood has concrete or block paved driveways, you might want to go that route. There could be a reason why people don’t use asphalt in your region. 

The next step is to meet with contractors who can provide estimates for your driveway costs. They will evaluate any factors that could increase the cost of the project like curves in your driveway, a significant slope, a extra drainage needs.

Many homeowners don’t think about their driveways often. If you decide to move forward with this project, focus on standard driveway options that will last. If you plan to move soon, there’s no need to invest in a beautiful driveway that matches your aesthetics.

Is Driveway Paving Right for You?

While a concrete or asphalt driveway can improve your curb appeal and add value to your home, it helps to evaluate whether this project will have the biggest possible impact on your home sale.

You may generate a higher ROI if you invest in other projects like a kitchen remodel or bathroom upgrade. Alternatively, you can focus on home repairs, which can speed up the prevent delays in closing after the home inspection. 

Ask your real estate agent to identify the biggest pain points within your home and the biggest opportunities to attract buyers. Home improvements before listing need to strike a balance between cost, return on investment, and buyer attraction.

Your realtor can advise you on ways to save money on improvements while having the biggest possible impact on prospective buyers.

Talk to Your Realtor About the Value of Paved Driveways

Paved driveways create positive first impressions for potential buyers. They make it easy for people to walk into your home and keep their cars clean. However, this project can be pricey depending on the type of materials you use and the length of your driveway.

Talk to your real estate agent to identify how much value a new driveway can provide. This might be just what you need to sell your home quickly, or it could be a vanity project that doesn’t have the impact you expect. 

To find a real estate agent who can guide you through the home sale process, turn to the professionals at FastExpert. You can read agent profiles and reach out to some of your top candidates. Use FastExpert and take the first steps to sell your home today.

Home improvements and additions can increase the overall value of your home. However, not all renovations provide the same level of financial benefits. You might get a higher return on investment by prioritizing some home improvements over others. 

One of the most popular additions that homeowners invest in is the construction of an extra bedroom. This can have a significant impact on your property values and in some cases make your house more desirable to buyers. Use this guide to answer, “How much value does an extra bedroom add?” and see if this investment is right for you.  

There are multiple financial benefits to adding an extra bedroom to your home. First, you will increase the square footage of your property and increase its overall value. Whether you use the bedroom daily or keep it as a guest room, you will reap the benefits of the addition in your home sale. 

The Motley Fool estimates that bedroom additions have a 50% ROI, but this will vary depending on the addition. If you currently have a two-bedroom home and plan to expand it into a three-bedroom property, you could attract a larger number of buyers and see a higher ROI when you decide to sell your house.

Three-bedroom homes are some of the most popular on the market. This expansion could be more lucrative than turning a three-bedroom into a four-bedroom house, or a four-bedroom into a five-bedroom.  

You could also benefit from adding a bedroom if you collect rental income from the property. An extra room to rent will increase your cash flow while expanding on an existing property will allow you to charge more for a whole-house rental. 

Experts also say that adding a bedroom can be more affordable than moving. If you want a larger house but love where you live, it might be easier to build an extra bedroom instead of looking for a larger home in your area. 

The cost of adding a bedroom varies by a variety of factors. It’s easier to convert existing space into a bedroom (like turning a garage or attic into viable living space) than to expand your property where there is currently grass and dirt.

The average cost of a bedroom addition is $50,000 but your estimates could be as cheap as $6,000 or more than $80,000 depending on your situation. 

Here are a few factors to evaluate how expensive your additional bedroom will be: 

• Square footage: consider how large the additional bedroom will be.
• Purpose: adding a master bedroom with an en suite bath will be more expensive but could also benefit your home values.  
• Addition or conversion: determine whether you will convert an existing space or if you need to expand the foundation and roof of your home. 
• Location: adding a bedroom to the ground floor is typically more affordable than building a room on the second story – or adding a new story altogether. 

By reviewing these factors, you can see how bedroom additions come with very different price tags. You could affordably convert unfinished space into a bedroom or you could invest in an entire building expansion and story addition for your home.

Zoning Regulations and Legal Considerations

While it’s tempting to start dreaming about an additional bedroom – especially if you currently have a cramped space – it helps to have a clear understanding of your zoning laws and permitting process before you begin your expansion plan. Here are a few legal considerations to keep in mind: 

• Building setback requirements: these are rules for how far from the property line your house needs to be. Most houses need to be at least a few feet from any property lines. 
• Maximum Lot Coverage: many municipalities have requirements for leaving green space on residential lots. Increasing your square footage takes away from your yard space and could breach lot coverage limits. 
• Size limits: some urban areas might have limits on the square footage of buildings or the number of stories they can have. These limits are meant to protect historic neighborhoods or keep communities safe during natural disasters. 

The contractor you hire should go through each of these limitations and requirements when they are developing blueprints for your additional bedroom. They can develop plans within local guidelines. This way, when they start applying for permits for your bedroom space, the plans will be less likely to get denied. 

While there is no guarantee that increasing your bedroom count will boost your home value and help you sell your property quickly in the local real estate market, you can take steps to maximize your chances of success. Here are a few tips to get the most out of your home renovation while you live there and when you decide to sell.

• Preserve the flow of the house: add a bedroom where it makes sense, especially if your addition is on the ground floor. 
• Check that there is adequate space: a small bedroom will seem cramped and ineffective. Don’t try to force a new bedroom if there isn’t enough room for one. 
• Consider adding a bathroom: private bathrooms are always in demand. See if you have enough square footage for an en suite bath. 
• Add windows: make your new bedroom feel larger with windows that bring natural light into the room.
• Stage the room: promote the extra space as a bedroom, home office, or nursery when it is time to sell your home.  

You don’t want to confuse buyers with your room addition. Anyone who tours your property should see that your expansion is an extra bedroom that is desirable to sleep in.

Increasing your bedroom count can make your property more desirable when you decide to sell it. While you can enjoy the third bedroom or fourth bedroom once it’s built, it is ultimately an investment in your resale value. 

When the time comes to sell your home, walk potential Realtors through your existing space and explain how you expanded the square footage of the property. Your agent should adjust the multiple listing service (MLS) data with the updated square foot information so buyers can have an accurate picture of the property. Your Realtor can promote your additional bedroom as a new feature with modern design elements. They will do their best to get the ROI you expect on the investment. 

To find a trusted Realtor, turn to FastExpert. You can read agent profiles from professionals in your area and get to know potential candidates before meeting with them. This can make you more informed during the hiring process. Try FastExpert today and take the first steps to sell your house.

Billionaire-owned property developer Revelop has bought a trio of Sydney shopping centres – Kareela Village, Quakers Court and Ingleburn Village – for $126.3m in off-market play that boosts its NSW shopping centre portfolio.

The purchase by the billionaire cousins who control Revelop adds to their network of neighbourhood shopping centres and residential developments. It is understood the portfolio was sold by the private Dan family.

The purchase comes as confidence in the convenience retail sector rises as it stays resilient in tough times and Revelop has proven savvy in building up its holdings through the cycle.

Cousins Anthony El-Hazouri, 36, and Charbel Hazzouri, 37, founded Revelop in 2008, and have amassed a portfolio of more than 80 commercial properties. Most of their deals have been in Sydney, including shopping centres at Greystanes, Frenchs Forest, Balgowlah and Forest Lodge.

Their estimated $2.84bn combined fortune placed them 63rd and 64th on this year’s edition of The List – Australia’s Richest 250.

The three centres span more than 20,000sq m of retail space and they are anchored by two Coles and one Woolworths supermarkets, alongside about 57 specialty retailers.

“These centres tick all the boxes for us: strong locations, leading supermarket anchors, established customer loyalty and clear opportunities to unlock additional value through hands-on ownership,” Mr El-Hazouri said. Revelop said the centres complemented its Sydney network and the assets have strong retail fundamentals.

“This acquisition expands our Sydney footprint and reinforces our confidence in the long-term strength of convenience retail. We’re excited to partner with retailers and local communities to continue improving these centres and building on their success,” Mr Hazzouri said.

JLL agents Sam Hatcher, Nick Willis, Sebastian Fahey and David Mahood handled the deal.

They said it was the largest neighbourhood centre portfolio sale in Sydney in more than a decade.

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