Yes, no, maybe. Context is key. Post up pictures for advice as sight unseen is about impossible to offer much.

How old is the existing deck?

It’s around 20-25 years old.

Thanks for info. A deck 20-25 years old that has started to rot and whose balusters are falling off may need to be replaced. You can contact a couple of deck repair and construction firms to discuss repair versus replacement. Many decks that are connected to a back door with steps down to the yard are important outdoor living space.

A few decks are little-used islands in the middle of the yard. That kind of deck may not need to be replaced after removal.

Mine is connected to the house and is an extension of our living space. Thank you for your comments.

Replace it now...it will be even worse in 5 years and it will be a big issue with a home imspection. Lenders only lend on the secure. New buyers will either have to pay cash for the house of put down a lot more than 20%.

Maybe have a reputable deck company (or two) take a look and give you feedback on damage and repair possibilities + how much life would it then have. Perhaps make it safe and replace closer to when you are selling.