I own a townhome that recently underwent a siding assessment for my community, which revealed significant rot in the framing, including my deck. The plan is to remove the deck to prevent further decay when the new siding goes up, but I'm currently unable to afford to build a new deck right away since I just spent $27,000 on the siding assessment. I'm considering selling in the next few years, and I'm wondering if it's better to take out a loan to install a new deck now or to sell it as-is without a deck and perhaps lower the price to attract buyers. For context, I've got a small deck off the upper bedroom, a larger deck off the main level, and a concrete patio on the ground level, all with a lake view. The neighborhood is good with great schools, so I'm hopeful about the selling potential after the repairs are completed. What do you think is the best move?
3 Answers
Given that you've already taken on a significant loan for the siding, I think it might be wise to hold off on decking for now. If your deck is second-story, not having one could pose safety concerns, but since it sounds like you're doing some temporary fixes, it might not be a deal-breaker for buyers in your nice neighborhood. Just be transparent about the deck situation when selling. Buyers might even appreciate the chance to customize it themselves!
If the deck is essential for a second-story setup, you'll likely need to budget for a replacement before selling to avoid any issues with potential buyers or lenders. But, if it’s only an aesthetic feature, you might find buyers who can overlook that - just emphasize the amazing lake view! You could also check recent sales in the area to see if homes sold without decks or how much the deck impacts home prices.
True, if your other upgrades paired with the appeal of the view are strong, buyers might just want to get it and fix the deck as a fun project!
Honestly, you won’t recoup all your investment in a new deck. Letting the next owner decide could save you money and hassle. Plus, consider how attached you are to your existing deck: if you really loved it, then letting it go might feel tougher now, but make sure you focus on the bigger picture of selling the place. Just know that the real estate market can be unpredictable, so do what feels financially right for you now!
That’s a good point. Decks can be pricey to maintain and replace. If you can make the price attractive without it, you might still draw in the right buyers.
Yeah, having no deck isn’t ideal, but it seems like most buyers are willing to put their own stamp on things if they love the location and the view.