Plan the space first
Start with how you'll use it. A spot for a grill and a small table needs far less than an outdoor kitchen, a covered roof or built-in lighting. Sketch the size, check where the sun falls and think about how people will walk from the house to the yard.
Then get two or three written bids for the same plan so you can compare like with like.
Choices that drive the cost
- Deck materials: pressure-treated wood costs less up front, while composite usually costs more but needs less upkeep
- Patio materials: poured concrete, stamped concrete, pavers and natural stone vary widely in price
- Size and height: raised decks need more structure, railings and stairs
- Extras: pergolas, roofs, lighting, built-in seating and outdoor kitchens
- Site work: grading, drainage and removing an old deck
Permits, HOAs and setbacks
Many areas require a permit and inspections for decks, especially raised ones attached to the house. Local rules may also set how close you can build to your property line. If you have an HOA, you may need approval on design and materials before work begins. Add any permit fees and time to your plan.
Build in a cushion
Add 10% to 20% to your best bid for surprises, like rotted framing under an old deck or soil that needs extra prep. If you don't need the cushion, you can use it to pay down the loan.
How to borrow
A home equity loan works well for a set budget. You get a lump sum at a fixed rate and keep your first mortgage as is. If your current mortgage rate is close to today's rates, a cash-out refinance may be worth comparing.
CapCenter offers fixed-rate home equity loans from $50,000 to $250,000, with 15, 20 or 30-year terms, on single-family primary residences and second homes. They come with ZERO Closing Costs (restrictions apply). Many deck and patio projects cost less than our minimum, so this route fits best when you're pairing the project with other work, like landscaping, a fence or an interior update.
Will it add value?
An outdoor living space can make a home more appealing, but how much of the cost you get back depends on the project, your neighborhood and the market when you sell. Choose a design you'll enjoy and that fits the home, rather than counting on a big return.
