Whether you want to live in your house or sell it in the future, ensuring a good home value is a must. However, improving the exterior is as necessary as interior design to get the best value for your home. So, if you are planning to add a paved driveway to your home, you might wonder, does paving driveway increase home value? Let’s find out.
As a driveway is a significant part of your home, paving the driveway will increase home value. A paved driveway can add around 5000$-7000$ to the home’s value, depending on your home’s size, design, and location.
A paved driveway will raise the number of potential buyers and provide you with tons of other benefits. If you can invest in suitable materials and pave the driveway properly, it will significantly impact the home’s worth. In this article, I’ll discuss how much a paved driveway might boost the value of your property, as well as explain why it’s such a good investment.
How Much Can Your Home Value Increase with a Paved Driveway?
It really depends on a number of factors. Generally, a paved driveway can increase the value of your home by up to 10%. But the actual rise in value depends on the following things:
1. Materials Used for Paving
There are many types of materials you can use for paving the driveway of your home. Concrete, gravel, asphalt, tarmac, and pavers are a few of the materials people commonly use to pave their home’s driveway. Well, the materials of your paved driveway play a significant role in determining how much your home’s worth will increase.
Gravel is comparably cheap, but paving your driveway with it won’t increase your home’s value much. Instead, people mostly prefer driveways made of concrete or asphalt. So, using these materials for paving your driveway will add excellent worth to your home.
2. Size of the Home
Size is a huge factor in deciding your home’s worth. In a small house, adding a long and broad paved driveway won’t matter too much. However, if your home is big enough to suit a paved driveway, the home’s value will increase.
If your home area is too short, investing in paving your driveway will be a waste of money as buyers won’t bother much about it in a small house.
3. Your Driveway’s design
Your driveway must be eye-catching. If you fail to make a classic or aesthetic-looking driveway, no matter how expensive and quality materials you use for your driveway, your customers won’t like it. Furthermore, the driveway must not look odd with the design of your home.
Thus, if you can manage to make a good-looking driveway, only then a paved driveway will help increase your home’s value.
4. Location of Your Home
The primary factor that decides your home’s worth is the location. For example, if you are in a neighborhood where most houses don’t have a paved driveway, adding a paved driveway to your home will increase your home’s value to a great extent.
You have to try to understand what people in your locality prefer most. Then, after understanding the market value of your locality, you can make your next step.
5. The Quality of Your Driveway
You can spend a lot of money on paving your driveway, but it won’t matter if you fail to maintain the quality. If you hire professionals for paving the driveway, it will be of top-notch quality. Thus, your home’s value will expand significantly.
Besides, after making the driveway, you must take care of it to get the best value. Good maintenance will hold the quality of your driveway for a long time and increase the worth of your home.
What Are the Benefits of Having a Paved Driveway?
Apart from increasing your property value, a paved driveway can be beneficial in many ways. It boosts the beauty of your home and lets you drive your car safely and smoothly.
The following are a few of the benefits of having a paved driveway in your home:
- A Good First Impression
There is a saying that “the first impression is the last impression.” The first thing people will see while visiting your home is the driveway. So, if you keep your driveway unpaved, it will be the biggest turn-off for your buyers.
So, for ensuring a good impression to your guests and potential buyers, there is no alternative to paving your driveway.
- Long-lasting Investment
If you pave your driveway correctly, it will be an investment for years. You won’t have to pave your driveway frequently. Once you pave your driveway, it will last for at least ten years, no matter how badly you maintain it.
As a paved driveway is durable for a long time and adds value to your home, paving the driveway will be an excellent investment in the long run.
- Easy Maintenance
You can more easily maintain a paved driveway than an unpaved driveway. You can wash off the driveway simply and quickly and keep it clean. However, that’s not the case with an unpaved driveway. You have to put a lot of effort into maintaining an unpaved driveway clean and dry.
So, easy maintenance is a pro of paved driveways for sure.
- Safe Space for Parking
Are you a car lover? If so, you know how much it means to have a smooth surface as a driveway of your car. If your driveway is not paved, it will get all wet and muddy in the rain and get your car stuck in its way.
So, if you have a paved driveway, you can drive your car smoothly and without any trouble. Moreover, you can safely park your car in the driveway without having to worry about its damage.
- Adds Beauty to Your Home
Last but not least, a paved driveway increases the beauty of your house. It is very evident that a dirty and unpaved driveway looks very unappealing. On the other hand, a well-maintained paved driveway is a treat to the eyes.
So, if you pave your driveway with suitable materials and design, your house will look a lot more attractive than ever before.
How Long Does a Paved Driveway Last?
Your paved driveway will last for a long time, depending on the materials and building quality. For example, a concrete paved driveway can last up to 60 years, whereas asphalt paved driveways will last about 10-25 years.
Apart from the materials used for paving the driveway, how durable your paved driveway is, depends on many other things. For example, if you do proper maintenance of your driveway, it will be more likely to last for a long time. Besides, the traffic volume or the amount of pressure the driveway has to go through will affect its lifespan.
Furthermore, the durability of a paved driveway is dependent on proper installation. Without good edging, the surface may begin to degrade within weeks of building. However, with a good quality build, you can expect your driveway to last for a long time.
Climate also has a notable effect on the sustainability of the driveway. If you live in an area with extreme weather, your paved driveway won’t last for an extended period. On the other hand, warm temperatures, little rain, and no temperature fluctuations are ideal conditions for a paved driveway.
Conclusion
You have to invest carefully to ensure the best value of your home. And, by now, you’ve probably learned whether or not does paving driveway increase home value and why it could be a good idea.A paved driveway enhances the appearance and functionality which will obviously positively impact the value of your home. Thanks for reading through. Hopefully, you’ve found this article helpful.
