From a simple desire to increase the external appearance of your house before going for sale to a desire to redesign the external appearance of your property, the paving of your gravel driveway is one of the home improvements that will yield you great returns. But does paving your driveway raise your home’s value? Let’s take a closer look.
Why Should I Pave My Driveway
There are several reasons why paving your driveway can increase curb appeal and add value:
– Improved aesthetics: As evident, having clean and well-done pavement on the driveway gives a much more modern touch compared to a gravel drive. It can give your whole property that more upscale feel, making everything look cleaner and smoother.
– Increased usable space: A gravel driveway occupies more physical space than asphalt because the stones used to create it are dispersed throughout the area. Paving produces a neat and consecutive surface that increases your area of use.
– Better functionality: The paved driveway is more convenient to use in the day-to-day activities. There will be no slipping to the garage carrying loose rocks or dust trailing behind you. Snow and ice are more accessible to remove than any other type of threat. Rain drains off smoothly.
– Added durability: An asphalt driveway can be long-lasting and durable if well put in, but it rarely demands much upkeep. Crushed stone driveways require adding material over time and must be reshaped as needed.
– Higher property value: First impressions count, mainly when selling the house. A good example is that whenever one comes across a well-maintained, beautiful avenue to the compound, the price per unit area will usually be higher than other properties with ugly and poorly maintained avenues.
What the Experts Say
Most professionals in the industry will tell you that paving your driveway is among the best ventures you can undertake if you intend to get the best ROI on the house when you decide to sell. Also, more than a third of the realtors who participated in preparing the report revealed that driveway improvements are a great way to increase the worth of a house before resale. An elaborate, clean, and quality paved drive, instead of gravel, provides an entirely different feeling and is a good selling point.
Cost Considerations
You still have to think about the cost-benefit per every home improvement. However, you are confident that the return on investment is very possible. It is easy to see why hiring a professional for driveway paving is wiser than simply adding more gravel to the site. However, it is a project where the first dollar spent can mean a tremendous return in terms of the increased value of your home.
The price of medium – and large-sized projects, including asphalt paving, is about $3,900; concrete paving costs roughly $5,500. The cost may increase or decrease depending on aspects such as size, materials, location as well as contractor charges.
Commonly, such expensive jobs as inclusive excavation, extra-long driveways, or elite items such as stamped concrete may cost more but, basically, do not increase proportionately the value of the home. Straightforward remodelling projects are the most likely to be the most profitable.
Maximizing Value
As this shows, not all driveway paving means big bucks to a home’s value.
To maximize your return on investment:
Go for affordable materials, such as asphalt or bare concrete, for which you will pay less. Do not waste money on additional details such as patterns or finishes. Ensure the size and layout meets your home’s requirements but may not be overly complicated or extensive. An exceedingly long driveway or one that curves in some form might appear unusual instead of an improvement.
Do not scrimp on excellent workmanship so that the wall might be smoothly done and will not be spoiled easily. Inadequate work also means that pavements can reduce value rather than create it. Once installed with the pavers ensure the driveway stays tidy and organized. If it has been around for some time, it may be time to reseal to maintain that polished look.
To some extent, the property’s first impression affects the selling process in preparing the house for sale. And by replacing an unleveled and dull gravel with a beautiful paved driveway, you can be sure to reveal a massive chunk of your project plus the price tag. Be wise in the choices in order to optimize more the added value yet practical in terms of the amount spend.
Conclusion
Extending your home or repaving your home’s driveway with asphalt can quickly put more resale value. However, the initial investment is high and property with paved driveway attracts well higher price. To get the most value, pay attention to the costs of the features and the additional items that enhance looks, but do not require excessive power to work in your home. Expend considerable effort in installing the curbing to ensure that it will be long lasting. All in all, an asphalted driveway can afford to give more return of investment when you decide to sell your house.