Does A New Driveway Increase Home Value?

All homeowners want their property to have as much value as possible, and this is particularly true when you are getting ready to sell. There are a lot of factors that can go into determining your home’s value, and many of these are quite obvious, such as having a recently remodeled kitchen or bathrooms. However, one of the more affordable improvements that you can make to your home can also have a big impact on its overall value: a new driveway.

Putting a new driveway outside of your home has many benefits. Here’s a rundown of the top reasons to consider this affordable home improvement.

Increased Curb Appeal

Curb appeal is the visual attractiveness of your property as seen from the street. It is the first impression that those visiting your home will get, and a first impression can be very difficult to undo. According to Bankrate.com, a positive first impression can add as much as 10% to the value of your home. (1) That is why you want to make sure you have a new driveway in good repair that matches your home and looks nice. This should also be supplemented by an attractive and well-manicured front yard with nice landscaping.

Even if you are not selling your home, a new driveway is a great way to show all who visit and pass by in the neighborhood that you take good care of your home. A new driveway makes the home look inviting and gives people a very positive first impression.

Paved Driveways Matter To Buyers

If you have a gravel driveway, paving it with concrete can increase your property value and your curb appeal. How much this will cause your property value to rise will depend on the quality of the work as well as market conditions and the other homes in your neighborhood. However, paving is always a choice that will pay off as many homeowners do not want to purchase a home with a gravel driveway. Many people will not consider gravel driveways because of the damage that they can cause to their car and because they are uncomfortable to walk on.

Although gravel is a good choice for the cost-conscious, keep in mind that concrete is one of the most affordable paving options, and it is far cheaper than brick and other materials that you may have priced in the past. It is also resistant to damage, which means that you are unlikely to have repair expenses. In addition, concrete’s ability to reflect light means there is less of a need for lighting in the driveway at night, which can save you money on energy bills.

It is also better for your tires. Switching from gravel to a concrete driveway can ease the wear and tear on your car which can lead to expensive maintenance.

Moreover, if the other homes in your neighborhood have paved driveways, it is a good idea to have your driveway paved. Real estate experts report that being the only home on your street that is unpaved makes the home less desirable. The reverse of this is also true; if most of the homes in your neighborhood do not have paved driveways and yours does, it will give your home the edge over surrounding homes.

Moreover, in a buyers’ market, buyers can be quite selective and having an unpaved driveway or an older driveway that is not in a state of good repair can be enough to put your home out of contention.

If you have any doubt about how well the investment in a new driveway will pay off for your home when it’s time to sell, consider contacting a local real estate agent to ask them for their opinion. They will be able to advise you on the impact that your driveway will have on your potential sale price as well as any other upgrades or repairs that could help your home get ready to sell quickly.

The Latest Trends In Driveways

When you have a new driveway installed at your home, there are a lot of good ways that you can get the maximum value out of your investment. Here is a look at some of the current trends in driveways.

Interesting Shapes

Gone are the days when having a straight driveway connecting the road to your garage door is enough. These days, homeowners are using their driveways to give their front yard more character. Incorporating angles and curves into your driveway provides a more interesting approach.

Useful Features

Another way of adding value to a driveway is by incorporating useful features into the paving, such as an extra area for parking to one side of the driveway. You can also make your driveway more than just a path by giving it some aesthetically pleasing framing elements such as trees, lighting and plants.

Elaborate Paving

It’s hard to go wrong with an asphalt driveway, but many homeowners are opting for concrete because there are many ways to customize it with different colors and stamping patterns. Another option that is gaining popularity is cobblestone, which provides great visual appeal.

Sprucing Up Your Driveway On A Budget

Not everyone has room in the budget to have an entirely new driveway poured. If you are on a very tight budget, it is a good idea to at least have any cracks and other areas in your driveway and walkways that are in disrepair fixed. You may be able to do this on your own, or you can hire a driveway company for more professional results.

If your budget is more in the mid-range, in addition to making any needed repairs, you can upgrade the look of your driveway and walkways using new brick pavers. They are available in many different colors and are cheaper than replacing the entire driveway.

Get In Touch With The Driveway Professionals At Dirt Connections

Dirt Connections is a leading provider of construction services in Virginia, Maryland and Washington, D.C. We offer a broad range of driveway paving services, so get in touch today to find out more about how we can help your home boost its curb appeal and its value with a new driveway that suits your budget.