How much does a good driveway add to property value?

You can definitely get a great return on your investment. At a minimum, increasing the value of your property will cover the cost of the driveway. The amount of added value may fluctuate. A driveway will add value to your home.

The quantity depends on factors such as typical houses in the area, market conditions and the type of material you choose. In addition to having a home that is more salable because of the garage, having this will only add value to your property. Adding a driveway to your property can add up to 10% to the value. Why should I consider having a paved driveway? As a homeowner, you take pride in the exterior appearance of your home.

However, many residents leave a key component of their property unattended. That key component is the driveway. The appearance of your disc can greatly affect the first impression you give to a potential buyer. Having a paved driveway can increase the value of your property.

If most homes don't have driveways and yours does, this gives your home an advantage over others in the neighborhood. If your home is the only one with a paved driveway while the other houses are worse off, your home values skyrocket. But do you add enough to make it a project worthy of preparing to sell your house? The answer is a little more complicated. Renting part of the space at the entrance of your home can generate an additional income of more than £1,000 per year.

Vandalism is more likely to occur in a vehicle that is parked on the road than if it is parked in the driveway of your home. Lucas explains that unpaved entrances in urban or suburban areas will attract negative attention because they are out of place, difficult to maintain and dangerous. Not only do they provide extra counter space, but they can also be used to do homework, grab a quick bite or a place for guests to hang out while cooking. Many homeowners don't think much about their gardens, but good design can significantly increase the value of their home, sometimes as much as a new kitchen or bathroom.

If you already have a driveway that is in poor condition, overlapping the asphalt is a quick and easy solution. While a beautiful driveway will add value, you have to wonder if the actual cost of laying the driveway will be worth it in the long run. A ticket for two cars will average around £4,500, with larger tickets averaging approximately £6000 and more.

Debby Parker
Debby Parker

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