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A retractable awning won’t necessarily increase your home’s value very much, but it can offer a boost of aesthetic appeal to potential buyers. In the long-term, however, a well-placed awning will save you money on cooling and protect your deck and outdoor furniture from sun exposure during the hot summer season.

The average cost to build a pergola ranges from $2,200 to $6,400, whereas the average cost of an awning ranges from $1,400 to $4,400, meaning that an awning tends to be less expensive to build or install than a pergola. Ultimately, the less expensive option depends on a few factors, including size, quality of materials used, and location.

It depends on how you’ll use it. Both awnings and pergolas create shelter in outdoor areas, but pergolas have grid-style roofs, which are more open than awnings and not as effective at blocking out UV rays and precipitation. Also, pergolas are permanent structures, so you can’t put them away when you aren’t using them (unlike retractable awnings).

On average, awning costs range from $1,400 to $4,400. The low end of the cost range can be around $100 up to $7,500 on the high end. Cost factors include the type of awning, size, and location. Portable awnings are the most affordable and DIY-friendly to install, costing $100 to $400. Larger, motorized awnings tend to be more solidly built, ranging in price from $2,000 to $3,500.