Can a Driveway Increase Home Value?

Home Value

Last Updated on June 29, 2023 by

Did you know that the average American household has more than one vehicle? If you live in an area with limited parking, it can be difficult to find a place to store your vehicle that is safe and reliable.

Have you considered adding a driveway to your property to increase home value and curb appeal? Here are some perks of adding a driveway to your home, and an estimate of how much it can add to your next home appraisal.

Free Parking

If your area doesn’t have free parking, you may be paying a lot for street parking or shelling out money every month for an assigned space in a lot. Why not take that money and invest it in a driveway that is only your very own?

You will also be able to keep your car close at hand with a driveway. You will not have to worry about other people taking your spot and you can always have a space available, no matter what time of day.

Space for More Vehicles

For people who have multiple vehicles, fighting for available parking may be a challenge. With almost 80 million adults in the United States living in a shared house or apartment, there is a much higher chance of more than one vehicle fighting for limited parking.

You can easily fix this problem by creating a driveway for your home. For most properties, a driveway that fits two cars is enough, but if you want more space, you can expand your driveway area.

Driveway Materials

You’ll need to pick out your driveway material based on your budget and home much value you want to add when you sell your home. When you talk to driveway companies, you may get an estimate that factors in the size and rate of materials.

Some of the most common driveway paving materials include asphalt, block pavement, and gravel. While options like gravel and asphalt are on the cheaper side, they tend to not have as much curb appeal as block pavement.

Re-Doing Your Driveway

If you already have a driveway and need driveway repair, then it may be a better idea to simply re-do your driveway. You can update it to a more modern look or add features that you have always wanted.

For better home value, look at driveway trends around your neighborhood and choose a material that is long-lasting and attractive. If you want lower home maintenance, then use a material that doesn’t require a special cleaner or washing method. 

Bump Up Your Home Value With a Driveway

If you want an easy way to increase home value, then add a driveway for more curb appeal. With these advantages and options, you should have no problem if you want to sell your home or simply upgrade your parking experience.

Want to learn more about ways that you can remodel your home to fit your needs? Check out our Home Improvement section for inspiration and do-it-yourself tricks to have the property of your dreams.

Apart from that, if you are interested to know about How To Decide the Best Driveway Design Idea then visit our Home Improvement category.