Will a New Asphalt Driveway Increase My Home Value in Pinellas?

If you’ve been thinking of having your driveway repaved, refinished or resurfaced you may be wondering if asphalt is the best option. Often times asphalt is a cheaper alternative to concrete and is known to hold up over time better than concrete. So then why doesn’t everyone use asphalt for their driveway? In this article we will cover this but the simple answer to the question: “will a new asphalt driveway increase my home value?”, is yes. However there are a few factors that come into play and in certain situations the better choice for overall home value is concrete.

When an asphalt driveway may not be the best option:

Curb appeal is one of the most important factors when it comes to a home’s value. In order to maximize curb appeal, homeowners invest in everything from the landscape to the window trim of the house. In the event the home has a darker color paint or roof the dark color asphalt might not be the best fit for the overall appearance as a lighter color concrete driveway will yield more contrast. Alternatively if your home has a lighter color aesthetic the darker color asphalt driveway will deliver a great contrast to help maximize curb appeal.

Another factor at play is the neighborhood. If your home is located in an area wherein every house on the block has a concrete driveway you may not want to be the outlier with the only asphalt driveway. In some instances your HOA (home owners association) may not allow for an asphalt driveway however from what we’ve been able to research this is rare.

Asphalt Driveways for the win!

A new asphalt driveway will absolutely increase your home’s value if your current driveway is in poor condition. Concrete driveways tend to stain badly with oil and other harsh liquids that are able to penetrate deep into the slab. Large cracks and other eye sores may also be plaguing your concrete driveway and replacing it with asphalt is certainly one great way to remedy the issue.

If you currently have an asphalt driveway that is not looking it’s best you may be able to slide by with a simple sealcoating which is far less expensive than a full repaving. If the asphalt is cracked and a bit weathered you could potentially resurface it which consists of patching and leveling with a new thin asphalt layer atop the old, followed by fresh sealcoating. In a worst-case scenario the current asphalt is too far gone to remain and is removed prior a fresh sub-surface being laid in preparation for new asphalt. To learn more about the different options view this article: Costs and Differences of Asphalt Parking Lot Resealing, Resurfacing and Repaving.