A well-maintained, newly paved driveway signals to buyers that the home has been properly cared for. This is especially important in competitive real estate markets, where first impressions can make or break a sale.
When it comes to boosting curb appeal and increasing property value, paving your driveway is a smart investment. A well-paved driveway enhances the first impression of your home, making it more attractive to potential buyers. In fact, adding an asphalt driveway can increase your home’s value anywhere from 12% to 20%, depending on factors such as neighbourhood standards, driveway size, and overall aesthetics.
If you're considering selling your home or simply want to make a worthwhile upgrade, here’s why paving your driveway is a great choice.
Why a New Driveway Increases Home Value
Homebuyers factor in the cost of future improvements when deciding on a purchase. If a home is missing a paved driveway, buyers may see it as an added expense, making the property less appealing. A smooth, professionally paved driveway eliminates that concern, instantly increasing desirability and home value.
A well-maintained, newly paved driveway signals to buyers that the home has been properly cared for. This is especially important in competitive real estate markets, where first impressions can make or break a sale.
Why Gravel Driveways Aren’t Ideal for Resale
While a gravel driveway may be sufficient for some homeowners, it’s not always ideal for potential buyers. Gravel presents several drawbacks:
✔️ Difficult Maintenance – Gravel can shift, develop ruts, and require frequent regrading.
✔️ Weather Challenges – Rain and snow create muddy conditions, making it harder to shovel or plow.
✔️ Aesthetic Appeal – Many buyers prefer a finished, paved driveway over loose stone.
A gravel driveway can make your home appear less valuable compared to neighbouring properties with paved driveways, potentially affecting your selling price.
Neighbourhood Standards Matter
The value of your home is influenced by the surrounding properties. If most homes in your neighbourhood have asphalt or concrete driveways, having an unpaved or poorly maintained driveway may cause your home to be perceived as worth less.
On the other hand, a newly paved driveway can increase your home’s desirability compared to others in the area. Buyers will see it as a move-in-ready feature that adds convenience and curb appeal.
How Paving Enhances Your Home’s Value
A paved driveway generally increases your home’s value at least as much as the cost of installation, if not more. Several factors can further impact this value:
✔️ Driveway Width – A wider driveway that fits two vehicles is more valuable than a narrow one.
✔️ Material Choice – Asphalt driveways offer affordability and durability, while concrete driveways provide a higher-end look but come at a greater cost.
✔️ Additional Features – Adding a walkway, border, or extended parking area enhances functionality and aesthetic appeal.
Maintaining an Existing Driveway for Maximum Value
Even if your home already has a paved driveway, regular maintenance is key to keeping it in top shape. A cracked or deteriorating driveway can lower curb appeal, affecting resale value.
✔️ Resurface or sealcoat your asphalt driveway every few years.
✔️ Repair cracks and potholes before listing your home for sale.
✔️ Remove weeds and grass growing through cracks or along edges.
By maintaining your driveway, you preserve its value and appeal to potential buyers.
A Paved Driveway is a Worthwhile Investment
A professionally installed asphalt driveway not only makes your home stand out but also adds significant value and longevity. With proper installation and maintenance, an asphalt driveway can last 15-30 years, making it a durable, cost-effective upgrade.
If you're looking to increase your home’s value and curb appeal, paving your driveway is a smart investment.
At Regional Paving, we’ve been providing top-quality asphalt and concrete paving solutions since 1976. Whether you're upgrading your home for resale or simply want a smooth, long-lasting driveway, we're here to help. Contact us today for a free consultation!