paverBuying a home is one of the largest investments most people will make in their lifetime. In order to maintain your home’s value over time, you need to take care of it by making necessary renovations and performing regular maintenance.
As time passes, your home’s driveway is likely to experience damage. Whether it’s caused by minor things, like oil stains, dirt, or grime, or more severe issues caused by weathering and other factors.
This damage can result in your driving not only being unsightly, but can also present safety issues if the damage is bad enough.
As a result, you might consider re-paving your driveway. This could potentially increase the value of your home by improving its overall curbside appeal and fixing potential safety issues.
Let’s take a look at how much re-paving your driveway costs and whether or not it’s worth doing.
What is Re-Paving?
Re-paving a driveway is a fairly detailed process and is much more involved than a simple resurfacing. Re-paving involves the removal of the original asphalt and replacing it with new materials.
According to KompareIt, the process includes a professional coming to your home and removing all of the asphalt in your driveway. After doing so, the soil beneath your driveway is leveled and a new layer of gravel is put down. Lastly, after compacting the gravel, the paver will lay down the new asphalt.
Re-paving is typically necessary in order to repair a driveway that has damage on more than half of the surface. In these cases, resurfacing is often not enough to resolve the issue.
How Much Does Re-Paving Cost?
For most people, the biggest concern when it comes to making renovations is the total cost.
For driveway re-paving, the cost typically depends on the type of material being used. According to Angie’s List the cost for re-paving with different materials is as follows:
- Asphalt – $2,300 – $10,300
- Concrete – Starts at $3,500
- Clay, Brick, and Concrete – Up to $28,000
The costs can obviously vary by a significant amount. Depending on the type of driveway you have or want and the size of your driveway, you could end up paying a lot more or a lot less than average.
Can Re-Paving Your Driveway Add Value to Your Home?
With these costs in mind, would re-paving your driveway add enough value to be worth the cost?
It’s difficult to assess exactly how much value a new, re-paved driveway will add to your home. Be that as it may, re-paving your driveway will typically generate enough value to at least make up for the initial expense.
Aside from the added value a re-paved driveway adds to your home, you have to consider the increased curbside appeal. By improving your home’s appearance, you likely can generate much more interest in your home. While re-paving your driveway may not add enough to make you turn a profit, it could end up helping you sell your home much more quickly.
All things considered, re-paving your driveway is definitely a good idea if your driveway has extensive damage. It can add value, up your home’s curb appeal, and get rid of many potential safety issues.