When people decide to build a new deck, one of their first considerations is how much it will cost. Information published on the website HomeGuide.com in July 2021 indicates that homeowners spend an average of $2,200 to construct and install a deck that measures 10’ x 10’. The cost jumps to $6,160 for a 14’ x 20’ deck, and a 20’ by 20’ deck runs an average of $8,800.
Average Cost to Build a Deck by Square Foot
Homeowners from across the United States pay an average of $25 per square foot to add a deck to their home. However, the cost can vary significantly in either direction depending on the quality of materials. Most of this expense comes from labor charges assessed by the home improvement or building company in charge of designing and installing the new deck. People can expect between $8 and $22 for every square foot of deck they purchase to cover the cost of contractor labor.
How Much Does Lumber Cost?
Unfortunately, the lumber industry experienced a supply shortage during the COVID-19 pandemic that resulted in a significant jump in prices. As of mid-2021, the average cost for one square foot of lumber is $6 to $8. The price range per square foot for high-quality lumber is $20 to $35. The good news is that lumber costs should come down as the economy continues to stabilize. Tigerwood is currently one of the highest-priced types of lumber used to build residential decks.
Other Considerations When Building a Deck
Besides the cost of materials and labor for the deck itself, homeowners need to consider factors such as increased property taxes and homeowners’ insurance. People who live in a homeowners’ association should always check to make sure they have permission to add a deck before commissioning the work. Neighborhoods sometimes have restrictions as well, such as leaving a minimum distance between the deck and a septic tank.
Return on Investment When Adding a Deck
Most homeowners choose to add a deck to their home for their own enjoyment. Even so, considering the average return on investment when selling a home is important. People living on the East Coast can expect an average ROI of 70 percent on deck-related expenses when they sell their homes.
Ready to Add a Deck to Your Home? Contact Diamond Hill Builders Today
Homeowners in New Hampshire and Maine know they can depend on Diamond Hill Builders to design and install a safe, beautiful deck in their backyard. Our company recently received an invitation to join the Contractor Council Board with just 11 other builders from across the country to establish deck safety standards. We invite you to request a free estimate or schedule a consultation with Diamond Hill Builders to learn more about what we can do for you.