Whoever said kitchens and baths sell homes failed to credit one of the most underrated house upgrades: a freshly paved driveway. Driveways don’t come in gorgeous marble or grace the pages of home design magazines for their beauty. But putting in a flawless stretch of driveway pavement is like giving your house a red-carpet entrance. Paved driveways also offer the benefits of reduced maintenance in the winter, enhanced curb appeal, and a clean car. Of the approximate 75 million driveways in the U.S., 90% are either asphalt or concrete. However, as the owner of a gravel, dirt, or damaged driveway, you likely have concerns over the cost of this project and need to know: “Does a paved driveway add value to your home?” The average cost to pave a driveway nationally is $4,707, according to estimates from HomeAdvisor. That’s no small chunk of change. But top-selling Indianapolis real estate agent Morris Lucas is bullish on the value of paving your driveway — especially in the Midwest or anywhere with extreme weather. “In our area of the country, a paved, well-maintained driveway could add $10,000 to $20,000 to the value of a property,” Lucas says. In some markets, he adds, “a black top paved driveway that has fresh coating will actually sell the home. A damaged driveway can definitely turn someone away because it hasn’t been well taken care of.” Lucas elaborates that unpaved driveways in urban or suburban areas will draw negative attention for being out of place, hard to maintain, and hazardous. In addition, freezing temperatures take a toll on both asphalt and concrete. Expanding water creates cracks while the application of salt causes crumbling and corrosion. When the driveway starts to break up and grass and weeds sprout through cracks, uneven pavement creates a safety concern. Home inspectors will be required to document any crumbling and cracking concrete, and buyers may in turn ask for a repair credit to remedy the issue. By paving your damaged driveway, you’re getting ahead of these inspection issues. Other problems with unpaved driveways include: We know that a flawless driveway can make a great impression on buyers. But how does an appraiser consider it in their calculations of value? On the Uniform Residential Appraisal Report used for most appraisals, there is a box where the appraiser will mark whether a house has a driveway and specify the type of driveway material used. According to Jamie Owen, an Ohio appraiser and host of the podcast Home Value Stories, the context of the neighborhood matters a lot when weighing the value of a paved driveway. “If you have an unpaved driveway in a neighborhood where most of the homes have paved or concrete driveways, I do think it affects the value,” explains Owen. If you’re in a rural area with few homes nearby, your tidy new concrete drive is less critical. Choosing a paving material will come down to your climate, budget, and general design preferences as a homeowner. In addition to price, you’ll need to consider how much maintenance you’re prepared to sign up for, in addition to which materials are more DIY-friendly if you’re taking this project on yourself. Poured concrete is one of the most popular driveway paving materials. To install concrete, you start with a solid gravel foundation, then pour the concrete in slabs to keep the surface from cracking with changes in weather. If you install and maintain a concrete driveway properly, it can last 25-50 years. Price: $8-$18 per sq ft As another highly popular paving material, asphalt is often more affordable than concrete. It typically lasts between 15-20 years, and only needs maintenance every 3-5 years. You can extend the lifespan of asphalt with proper grading to prevent water from pooling on the surface and causing damage. Because of all the prep work involved, installing an asphalt driveway might not be a DIY-option for beginners. Price: $7-$13 per sq ft The price of pavers can vary dramatically in cost based on the materials chosen. You can pave your driveway with brick, cobblestone, concrete, or stone. The labor intensive process can create a one-of-a-kind look for your driveway, but the extra labor continues on long after initial installation. Price: $10-$50 per sq ft A driveway “paved” with grass can look organic and serene, but might require a green thumb to keep your curb appeal in good shape. To create a grass driveway, you’ll use plastic or concrete pavers that interlock, but have gaps filled with soil and seed for grass to grow through. Price: $10-$15 per sq ft Often called chip-and-seal or liquid asphalt and stone, a tar and chip driveway might look like asphalt paving, but it’s something else entirely. It starts with a gravel foundation, then hot asphalt is poured on top. Loose stones are poured on top of the asphalt and then raked in to create the surface. If you’re going through the trouble of paving your driveway, follow these tips to make the most of this new addition: With the exception of homeowners who live in very remote and rural areas where gravel driveways are the norm, very few people who decide to pave their driveway will regret that they made this investment. Your driveway may not be the most exciting property upgrade of all time, but it certainly serves a critical function and receives a lot of use day to day. Whether you plan to sell your home in five days or five years, homebuyers will appreciate a hazard-free, mess-free entrance to the home. By boosting curb appeal as a bonus, a newly paved driveway makes your home more marketable in an instant.ROI of paving your driveway
How driveways impact the appraisal
What’s the best paved material to use on a driveway?
Concrete
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Asphalt
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Pavers
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Grass
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Tar and chip
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Tips to maximize the value of your paved driveway
Go ahead and pave that driveway