Does A Concrete Driveway Increase Property Value?

Does A Concrete Driveway Increase Property Value
A paved driveway is every homeowner’s dream. It provides a durable, smooth surface for your car. Plus, it adds a positive aesthetic to the front of your home. Not to mention, the upkeep is simple, and you can drive pretty much any type of vehicle on it without risking any damage. However, does your concrete driveway increase the property value?
 
Paving your driveway with concrete will increase your property value and curb appeal. There are many benefits to having a paved driveway, especially when it’s concrete. How much your property value rises depends on the quality of the work, market conditions, and other homes in the area. And, of course, whether or not your driveway is paved. Yes, a concrete driveway increases your property value.
Keep on reading to figure out the benefits of a concrete driveway, as well as how much it adds to your property value. That way, you can figure out for yourself whether it’s worth it to pave your driveway or not.

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A Concrete Driveway Provides Many Benefits

While there are many options to pave your driveway, concrete is a popular and wallet-friendly choice. The following are some of the many benefits to paving your driveway with concrete:

Concrete Saves Money And Energy

  • Concrete is an affordable paving option. It is cheaper than brick, cobblestone, and other pavers. Because of its durability, concrete is resistant to damage. This feature prevents extra repair costs from accumulating over the years.
  • Concrete reflects light. This quality means you won’t need to place as many lights along the driveway to guide you at night. Fewer lights mean you can save more energy and money in the long run!
  • Concrete is an environmentally friendly paving option. Because it takes less energy to produce and install concrete, it is a good choice for the environment.
  • Concrete can save you the headache of dealing with worn-out tires. A paved driveway is better for your tires and will ease wear and tear on your car.

Concrete Lasts, Looks Good And Stays Cooler

  • These driveways last longer than other paving alternatives. Concrete can last anywhere from 25 to 50 years. Alternatives like asphalt typically only last 12 to 20 years and need more maintenance.

  • Concrete offers curb appeal with colorful options. The standard gray color of concrete is basic enough to suit most home styles and color schemes. Yet, there are endless options that allow you to dress up concrete to your heart’s desire! You can choose from several colors and stamped designs enable you to give your driveway a textured look.

  • It absorbs less heat than its paving counterparts. Asphalt is known for its intense heat absorption. Concrete, in comparison, absorbs significantly less heat. This provides you with a cooler driveway in the summer months.
  • Concrete has the strength to handle weighty loads. It is durable and non-flexible, providing a stable surface for large vehicles.

How Paving Your Driveway Increases Property Value

When deciding whether to pave your driveway, there are a few things to consider:

  • If the other homes in your area have paved driveways, you should think about paving your own. Being the lone dirt path in a sea of concrete driveways is undesirable to homeowners.
  • If the other homes in your area don’t have paved driveways, you should still consider paving your own. Having the only concrete driveway in your neighborhood gives your property an edge.
  • You should consider market conditions when paving a driveway. If it is a buyer’s market, buyers can be selective. They look for specific things and a driveway is often at the top of that list. Paving your driveway can put your home a step ahead of the competition.

Paving Your Driveway: Alternatives To Concrete

There are several other options for paving your driveway. Asphalt, pavers, tar-and-chip, glass, exposed aggregate, and gravel can all give your driveway a finished look. But, these options come with some special considerations.

Asphalt

Asphalt is one of the more affordable options available to pave your driveway. It only costs about $2 to $5 per square foot to install. You need to reseal asphalt every few years, and it requires more maintenance than other materials.
 
Resealing an asphalt driveway can keep it looking good as new and increase resale value. Asphalt is typically available in black but you can stamp it to add a variety of patterns.

Interlocking Pavers

Interlocking pavers are usually made of concrete and cut into shapes that connect with one another. Because of this, they don’t require any mortar like brick pavers.
 
Interlocking pavers are available in a wide variety of shapes and styles. This diverse selection lets you achieve almost any design you can imagine.
 
However, you must install pavers carefully. If installed improperly, pavers can buckle and shift, creating gaps and cracks in your driveway.
 
Pavers can also stain easily, so it is vital to pressure wash them regularly to keep them clean.

Tar-and-Chip

Tar-and-chip driveways are significantly cheaper than other options. They are achieved by pouring hot tar over gravel. While less expensive than other options, many people consider them to be a less attractive alternative.
 
It is also tricky for tar-and-chip driveways to be as smooth as other options. However, tar-and-chip driveways require little maintenance and absorb less heat than asphalt driveways.

Glass

Glass is an eco-friendly option for paving your driveway. Recycled glass is tumbled until smooth to create a unique finish that won’t cut up the tires on your car.
 
There is a variety of color options for this type of driveway, but it is a lot pricier than other options. Recycled glass driveways cost anywhere from $8 to $18 per square foot to install. However, if looking for an eco-conscious buyer, this is an excellent addition to your home’s value!

Exposed Aggregate

Exposed aggregate combines a mix of different concretes that allow particles to settle on the top. It is rapidly becoming one of the most popular paving options for driveways.
 
This material provides a variety of textures and style options that elevate curb appeal. It can last for about ten years without needing maintenance, and it is non-slip!

Gravel

Although not considered a paving material, gravel is an affordable option for covering your driveway. It will cost anywhere from 0.75 to $3 per square foot to install. Despite being cheap, gravel needs continuous upkeep.
 
It will need new layers added regularly, and you have to keep up with the weeds that grow through it. While gravel may look great when you first lay it down, it wears over time. Gravel won’t likely raise your property value like other paving options.

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Related Questions

How much does it cost to pave a driveway?

The cost to pave a driveway depends on the size of the driveway and the material used to do so. The average driveway is 600 square feet. It can cost anywhere from $4,200 to $7,800 to pave your driveway. A concrete driveway, on average, costs around $3,550.
However, the cost depends on whether or not you do this yourself. You can pave your own driveway for a lot less. The prices reflected above include the labor fees for hiring a professional. So if you want to save on money, maybe creating your own concrete driveway would be the best option.

Does a concrete driveway increase property taxes?

Most property improvements are taxable. Paving a dirt or gravel driveway increases your property taxes, but it also increases the value of your home! So, the increase in tax is not worrisome since it gets canceled out by your property value rising.

Should I replace my driveway before selling my home?

While it is more expensive, it is better to replace your driveway than to simply repair it. A new driveway will appeal to homebuyers more than a driveway with patches.

What kind of maintenance can you expect to do on a concrete driveway?

To ensure that your concrete driveway lasts, perform regular maintenance on it. You should reseal your driveway every two years, especially if it shows signs of wear or cracking.

Wrapping Up

Having a paved concrete driveway is an excellent way to increase your home’s property value. Concrete is long-lasting, affordable, and offers a variety of colors and styles. It also features several benefits that make it a smart choice. Concrete absorbs less heat than many alternatives, reflects light, and is very durable. It is also environmentally friendly and easy to maintain.
 
Before paving your driveway, consider the other homes in your neighborhood. Think about whether it is a buyer’s market, in which case you want to ensure your home shines above the rest. There are several alternatives to concrete driveways. You can use asphalt, interlocking pavers, tar-and-chip, glass, or exposed aggregate.
Each of these paving options features pros and cons. You can also use gravel to finish off your driveway, but it offers the least increase in property value. Don’t forget to factor in the personal enjoyment you’ll gain from a paved driveway. A concrete driveway is sure to leave you (and your car) happy and boost your property value!

Stacy Randall

Stacy Randall is a wife, mother, and freelance writer from NOLA that has always had a love for DIY projects, home organization, and making spaces beautiful. Together with her husband, she has been spending the last several years lovingly renovating her grandparent’s former home, making it their own and learning a lot about life along the way.

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