Does an Asphalt Driveway Add Value to Your Home?

When you’re ready to sell your home, you may paint rooms, rearrange or replace furniture, mow the lawn and get ready for an open house. Potential buyers may simply drive past your open house, however, if your driveway is cracked, uneven and stained. Adding an asphalt driveway can increase the curb appeal of your house, which increases its value.

Concrete is a more expensive product than asphalt, often 40 to 60 percent more expensive, according to Richfield Blacktop in Minneapolis. It takes longer to be able to use it after putting it down than asphalt, and it is subject to winter damage from snow-melting products containing salt. If you are considering replacing or repairing your old concrete driveway, asphalt may be a better option in the end.

Asphalt is a more flexible material than concrete, making it less likely to crack over time. An asphalt driveway can last from 15 to 30 years if it is installed properly. Asphalt is also stain-resistant, which can help maintain your home’s curb appeal over the years. In the winter, asphalt is an asset to a home, since snow and ice melt off faster than they do from concrete. You can also easily apply crack sealant to an asphalt driveway yourself if it has minor cracks.

As a downside, if you live in a hot climate, an asphalt driveway may become sticky or gooey when it softens during the heat of summer. The cycle of softening in summer and hardening in cold weather can cause asphalt driveways to crack.

Depending on where you live, an asphalt driveway can add different amounts of value to your home. An asphalt driveway in an area with mainly gravel driveways can increase the value more than in an area with many homes with new concrete driveways or with asphalt driveways. The value an asphalt driveway adds to your home may come from the curb appeal it brings and the number of buyers it draws into your open house event.

If you want to spend more money and add more value to your house than a concrete driveway can bring, you could invest in a cobblestone or brick driveway. These materials are even more appealing from the curb in a home’s driveway than either concrete or asphalt.