Decks, Porches, Patios, Walkways

The Joy of a Porch - 2011-03-24

Sweet Spring air is sweeping across front yards around the nation. And many argue that there's no better place to enjoy a glass of tea and a chat with the neighbors than on a porch.

In this article we'll look at the benefits, and drawbacks, of adding a porch, deck, or patio to your home.

The first thought that springs to mind for many potential porchers is money. How much will this new addition cost? The answer is that it varies. A large multi-tiered deck will of course cost more than a simple stone patio. A 10 x 12 foot wood deck will probably set you back anywhere from $500 to $1000, if you do the work yourself.

But labor and materials are extremely affordable right now. So even if you are not an ambitious do-it-yourselfer, you could still have a new addition for less than a couple thousand dollars. The more expensive supplies, like redwood and teak decking, however, will add cost to any project. They mean a 10 x 12 deck will suddenly be bumped into the $6,000 or $7,000 range.

Does a porch add value to your home? Will you make money back during resale? The answer to both questions is yes! If you add usable, liveable space to a home, you add value.

The key is to keep your improvements in line with the values of your neighborhood. If you add a $20,000 redwood deck to your home, you can't expect a buyer to pay $20,000 more for your home when they can buy a comparable home with a regular deck for a fraction of the cost. You want to keep up with the Joneses, but not outdo them.

And if you keep your improvements in line with the comparables of the neighborhood, then you'll be sure not to over-improve yourself for resale.

And patios can be another great alternative, especially if you have a level backyard. Paver, brick, and flagstone patios have grown by leaps and bounds in popularity over the last decade. But don't forget about the newcomer -- stamped concrete!

Related Article...

920 - Canadians will continue to take on mortgage debt in 2003 to the tune of more than C$517 billion in mortgage credit. This will keep the Canadian mortgage market strong for another year, a pattern that is expected to favor mortgage-backed securities as well. "A combination of continued economic growth and job creation, positive demographic factors and low mortgage rates will sustain demand for home ownership in new and resale housing markets," says Ali Manoucherhi, a senior economist with our federal housing agency, Canada Mortgage and Housing Corporation (CMHC). "This will lead to a six to eight per cent annual growth in residential mortgage credit in 2003." CMHC is no slouch when it comes to acquiring debt either. One of Canada's largest borrowers, it annually borrows $2.0 to $2.5 billion. CMHC uses this money to provide mortgage loan financing to social housing project sponsors. Forecasts of continued strength in construction and housing finance, also make National Housing Act Mortgage-Backed Securities according to CMHC. In the first 9 months of 2002, more than C$16. Read this Nemmar Real Estate Training article at Mortgage Loans, Finance, Economy, Appraisal

 

MSN real estate says, "Outdoor living spaces can increase your home's appeal at a lower cost than an additional room."

According to the annual Cost vs. Value survey, a site that compares the average cost for 35 popular remodeling projects with the value those projects retain at resale, a typical American homeowner who adds a wood deck could recoup 72.8 percent at resale. This is a higher return than for bathroom or kitchen remodels. In fact, it is one of the best returns found in the whole survey. (You can see more values at the remodeling site.)

All figures and numbers aside, it really comes down to the joy of a porch. Having a space to enjoy nature comfortably is always an asset, no matter the price.

Discuss this article

Real Estate From A to Z  -  Nemmar Real Estate Training. House Exterior Interior Structure Roofing Plumbing Insulation Heating Electrical Air Conditioning Construction Repair Home Improvement Renovation Home Inspection Appraisal Market Value

Nemmar Real Estate Training
Nemmar Business and Computer Consulting