I think that's generally the best idea.

You might put the access point on a window sill just inside from the deck to keep it protected from your nighttime weather, though. If it's just glass it shouldn't attenuate the signal as much as concrete (iirc) walls.

If you're using a couple router type devices, you'll need to do something extra to allow all devices to see each other (network printing, for example) in your house.

-jk