Adding a roof deck. Rate of return in South Boston??

  1. You have chosen to ignore posts from mgw375. Show mgw375's posts

    Adding a roof deck. Rate of return in South Boston??

    I am renovating my existing roof deck this Spring. It will be approximately 240sq /ft when completed. It is a private roof deck for a 1br top floor condo in South Boston. It will be constructed of pressure treated wood.

    I'm wondering if there is any added value to having a private roof deck to the average Condo when it comes time to sell my property.

    Thanks..
     
  2. You have chosen to ignore posts from rodman75. Show rodman75's posts

    Re: Adding a roof deck. Rate of return in South Boston??

    I think it will definitely add value, although I can't give you an exact dollar amount.  The big question I would ask myself is;  Do most condos in the area have decks?  Would adding a deck bring me up to par with the competition or would it make me stand out & above.  If your answer is yes to either question, then I say go full throttle.   In addition to the monetary value you will be adding, you'll also be appealing to peoples emotions (which subsequently opens their wallets) when they picture themselves overlooking the Boston skyline, drinking wine with their loved one, or having a beer with friends.  Finally, pressure treated wood is really nice but for slightly more money I would look into a composite decking like Trex.  It's maintenance free, doesn't need staining year after year and is more aesthetically pleasing.  Also, look into using wrought iron spindles (available at Lowe's & HD).  They are inexpensive and really will add a rich look to your new deck and make it stand out that much more from the others.  Good luck either way!
     
  3. You have chosen to ignore posts from BobbyQuinn. Show BobbyQuinn's posts

    Re: Adding a roof deck. Rate of return in South Boston??

    Addaing a private roof deck, will, without question, add value to your condo. Even if you just got he permits the condo would demand a higher price.  Buyers in the city love outdoor space and are willing to pay for it.  Go for it!
     
  4. You have chosen to ignore posts from ronrsr14. Show ronrsr14's posts

    Re: Adding a roof deck. Rate of return in South Boston??

    is your question "will it add value?" or will it add 100% of its cost to the value of the house?

    The answer to the second question is almost always "no," with a few exception - some paint jobs, adding a 2nd bedroom to a 1-bedroom home, adding a small half bath to a one-bathroom home, and things like that, that may increase the marketability of a home.

    What it will add depends on your neighborhood and buyer expectations.  If everyone already has a deck, and you are just catching up, the return will be higher. 

    Remodeling Magazine publishes a yearly survey by region of the ROI on 25 common building improvement.   For the Boston area,  they say the addition of a deck costing $14,728 adds $11,307 to the value of the house.   of course, that's an average, and may not apply to you, since it includes suburban decks and such, too.

    If you'll enjoy it a lot, do it;  If you're in it just for the return on investment, there's probably something better you can do with the money. 

    http://www.remodeling.hw.net/2010/costvsvalue/division/new-england/city/boston--ma.aspx

     

    bests, 

    -rsr-

    Ron Rothenberg

    Buyer Broker

    4Buyers Real Estate

    ronrsr@4buyersre.com

     
  5. You have chosen to ignore posts from bugmenotscreen. Show bugmenotscreen's posts

    Re: Adding a roof deck. Rate of return in South Boston??

    i'd skip the pressure treated and trex and go with IPE.  Makes a great statement and is maintenance free.  Also it's real wood and doesn't look like plastic.  It will be more up front, but will likely pay you back.
     
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