If you’re flipping a house, you want to get the best possible return on your investment—and one of the ways to do that is to add features buyers really want (like these great kitchen design features for 2017).
But what about a deck?
Do Decks Add Value to an Investment Property?
In many cases, adding a deck can tack value onto a house you’re selling. There’s a caveat to that, though: the deck can’t be too extravagant, and it depends on the house’s location.
According to U.S. News and World Report, if you add a wooden deck to your investment property, you’ll recoup about 81 percent of your investment when you sell. Bear in mind:
- The deck can make the house more appealing to a wider range of buyers because it helps them feel as if the home is larger (it’s added living space!)
- You may be able to sell the house faster
- You probably won’t be able to add the cost of the project to the home’s price and get away with it, unless you’ve made other cost-effective improvements that even out your profits
Wood vs. Composite Materials
Typically, building a deck with composite materials rather than wood can cost up to 50 percent more.
Do You Need a Hard Money Loan to Buy an Investment Property in Atlanta?
If you’re looking for a hard money loan in Atlanta, we may be able to help you.
Call us at 404-814-1644 or contact us online to find out whether you might qualify for this type of funding. In the meantime, check to ensure that you meet our loan criteria. Our loan amounts can be up to 65 percent of the after-repaired value of the collateral—and if you use the loan for renovation or construction, the loan amount can be based on the collateral’s improved value.
Read our frequently asked questions and take a few minutes to learn about the hard money loan process.