I have specific criteria for a cordless drill for home use. Versatility is most important. You’re buying a drill to face as many situations as you can cover with one tool.
Power vs. Size
Having more power allows you to do more tasks. But smaller size allows you into tighter spots. I think it’s helpful to set a benchmark for power, a task you must be able to accomplish, and then we can consider the sizes of drills that allow you to do that. My benchmark is driving several 3 inch screws into hard lumber. Several years ago you would have needed an 18V (or at least 14.4V) cordless to handle that job. But with the advent of lithium-ion batteries, manufacturers can pack more power into tighter packages. Makita makes a 10.8V ultra-compact with 200 inch-pounds of torque that will easily handle the benchmark.
So you can have both (small) size and power in the context of home use if you go with a good drill. Don’t expect a cheap compact drill to handle the job because you need a lithium-ion battery to fit that much power into the compact format.
Always at the ready
Another reason to go with a li-ion battery is the low self discharge. Both NiCd and NiMH have high self-discharge rates (20%-30% per month). If your drill has been setting for 2 months it would still be nice to pull it out and go right to work without having to charge the battery first. Well, as long as you charged the battery after you used it last time (which you should always do with your li-ion batteries), your drill should be good to go because the self-discharge rate is 5%-10% per month. source
Handy features
Having a built-in light on a cordless drill is about as handy as a pocket on a shirt. It’s a major plus for a cordless drill used mainly at home. A bit holder is also nice so you have a place to store your dual phillips/straight driver bit, the bit you’ll be using 90%+ of the time at home. But since you’ll be using that bit the vast majority of the time a bit holder isn’t an essential feature.
The chuck
Among smaller drills the choice is between a 1/4 inch chuck and a 3/8 inch chuck. Most of the time the quarter inch will do. But there’s a good chance the smaller chuck will be a limiting factor for something you need to do. Everything thing else the same, the 1/4″ drill will be smaller, but I don’t think that justifies the limited versatility. And of course, a keyless chuck is absolutely required.
Unless you know you only need a 1/4″ chuck, go for the 3/8″. As for 1/2″ chucks, I don’t consider that to be in the “home use” category. If you think you need a 1/2 inch look at the 18V drill page.
My Choice
My recommendation for the best cordless drill for home use is the Makita 10.8V ultra-compact. It has all of the essential features I mentioned and is surprisingly powerful. Most importantly it is extremely versatile and represents the best package for all-around home use.
Check out the Makita 10.8-Volt Ultra Compact Cordless at Amazon
Do you think a 10.8V drill will have enough power to work on a deck?
Yes, I do. This drill has a lot of torque.