Increase your Property Value with A New Asphalt Driveway

Are you selling your property soon and thinking about ways to increase its value without breaking the bank? You can start with small projects such as repainting the walls, fixing cracked tiles, fixing busted lights, etc. You should also look around the property and see if you can improve the front and back yard.

As for your yard, you can either improve the landscaping or start small by getting a new asphalt driveway. Most homeowners who want to improve their property’s value include paving the driveway on their checklist. And that’s not surprising. A paved asphalt driveway can be done quickly to increase curb appeal and, in turn, increases the house’s market value.

So, you might be wondering how you can increase your property’s value with a new asphalt driveway? Read on and find out as we give you some explanations and tips on how to get the best asphalt driveway.

Increasing Curb Appeal Through Asphalt Paving

Look around your neighborhood and notice the state or type of driveways that everyone has. Are they made of gravel or concrete? Is the driveway starting to show signs of wear? If you want to sell your property faster with the value you want, you need to make your home stand out.

A chipped, cracked, and worn-down driveway is one way to scare off any potential buyers. The same goes if you have a gravel or dirt driveway. At the least, this will give potential buyers will see a weak spot in the property and use it to bargain at a lower price during negotiations.

Asphalt paving is an affordable and easy way to solve such a dilemma. It’s excellent for increasing curb appeal but won’t cost as much as concrete. People will attribute greater value to your property if they see that even the driveways are correctly maintained and stand out among the houses in the neighborhood.

 

Asphalt Is Your Best Option

Traditionally, concrete is used in paving driveways. However, more people are opting for asphalt. Budget-wise, you’d get more savings with asphalt compared to concrete. Price aside, asphalt is more flexible and perfect in places with an ever-changing environment.

As long as an asphalt pavement is done the correct way, you can expect it to last up to three decades. And since asphalt is dark in color, stains are hidden from the naked eye; thus, your driveway will maintain its looks for a long time. Cleaning and maintenance will be minimal.

How much does an asphalt driveway cost? We break down the answer in this article.

Concrete Driveway vs. Asphalt Driveway

In terms of appeal and overall cost, asphalt is the best choice if you want to upgrade your driveway. Asphalt paving offers a good cost-benefit, especially if you are in a hurry to close the deal sooner and sell the property.

Given the cost of the materials and actual labor needed in building a concrete driveway, you will get more savings with asphalt. Laying asphalt generally costs from $2 to $5 per square foot. Say you have a 450 square feet driveway; you will need just around $2200 for the project.

How Much Is the Potential Value?

Depending on the property, installing an asphalt driveway can add value that ranges from $5000 to $7000. You can get a larger sum if you have a larger house. However, this amount can fluctuate depending on the current trend in the real estate industry.

With this potential income value, any cost incurred during the driveway installation will be covered. Getting a return on investment should not be hard.

What to Do with An Existing Asphalt Driveway?

If you have an existing driveway, you need to ensure that it’s in good condition before listing your property. Check for signs of cracks, chips, and other issues. Asphalt repairs like resurfacing, spot repairs/fills or leveling will usually do the trick. You’ll get a brand-new asphalt to look at without the need to spend on building a new one.

Another way to ensure you have a great-looking asphalt driveway is to look at ways to dress it up. You can start by adding an edging by lining the sides of the driveway with colored bricks. Use bricks that match the overall exterior design of your home. Another option is to add plants along the edges.

Once you’re ready to sell the property and decide on building an asphalt driveway, the next step is to look for an asphalt company. Anderson & Sons have professionals who can help you make your driveway. We have the tools and equipment and the technology for not only building a new driveway but also repairing and resurfacing existing asphalt pavement.