This project can have a concrete effect on your home’s value
Home Value Rating: 3/5
A concrete driveway yields moderate returns that you can maximize with the help of a pro.
Installing a concrete driveway can provide an average return on investment (ROI) between 50% and 80%, equaling an added $3,000 to $10,000 in resale value.
Your driveway is one of the first things people see, and a damaged, worn-out, or deteriorating driveway can make your home harder to sell. Installing a concrete driveway can yield an ROI of 50% to 80%, increasing your home’s value by $3,000 to $10,000. A new concrete driveway can improve your home’s curb appeal and make it more attractive to potential buyers. Learn which factors affect the value of a concrete driveway.
The value of a concrete driveway can vary significantly based on various factors, including size, materials, and construction quality. In addition, the more recently your concrete driveway has been installed, the more potential value it may add to your home.
A concrete driveway’s value can depend on its size. A smaller driveway will cost less to install but will have less of an effect on its value. Here are some common concrete driveway sizes and their average resale value.
| Size | Average Resale Value |
|---|---|
| 10 x 20 ft. (200 sq. ft.) | $1,500–$2,400 |
| 12 x 24 ft. (288 sq. ft.) | $2,100–$3,500 |
| 24 x 24 ft. (576 sq. ft.) | $4,200–$7,000 |
| 24 x 36 ft. (864 sq. ft.) | $6,500–$10,500 |
Hiring a concrete driveway contractor to install your concrete driveway is a good way to maximize its value. Unless you have experience pouring concrete, it’s best not to tackle this project as a DIY. A local concrete driveway pro will ensure the area is correctly prepped, the driveway is properly poured, and all local codes and regulations are followed. A professionally installed concrete driveway will look better and last longer, adding more value to your home.
How your driveway is constructed can also affect its value. Pouring concrete over asphalt is a budget-friendly way to install a concrete driveway, but the concrete may be more susceptible to cracks than a driveway made solely of concrete. When comparing a gravel versus concrete driveway, the gravel has a much lower up-front cost, but the concrete will add significantly more value.
Beyond function, your concrete driveway’s appearance and curb appeal will influence its value. Premium finishes like stained or stamped concrete will add additional value when compared with plain or broom-finished concrete.
Here are some ways to estimate the added value of a concrete driveway:
Determine the installation cost and potential resale value for your size driveway. Larger, more expensive driveways may be more of an up-front cost than you’re willing to spend for the return.
Consult a local appraiser to find out how much value concrete driveways add to homes for sale in your area.
Compare your home and its current driveway to comparable homes nearby. If the other properties have older or damaged driveways but are otherwise similar, it may be worth the investment for a new driveway to entice buyers.
A concrete driveway costs between $4 and $15 per square foot to install, although premium finishes and other add-ons may add to the total project cost. Replacing an existing driveway will also involve removal costs for the old driveway while installing a brand new one will mean additional costs to prepare the site.
Not sure if a concrete driveway is a worthwhile investment? If your current driveway is deteriorating or unsightly, it can hurt your chances of selling your home and lower your asking price. A new driveway is appealing to buyers, especially concrete driveways, which are known for their durability and long lifespan. In some areas, though, the increase in value may not justify the up-front cost. Consider the pros and cons to determine if it’s the right project for you.
| Pros | Cons |
|---|---|
| Durable and long-lasting | Can show stains easily |
| Can withstand heavy weight | Requires professional installation |
| Eye-catching appearance | Higher upfront cost |
Home is the most important place on earth, which is why Angi has helped more than 150 million homeowners transform their houses into homes they adore. To help homeowners maximize the value of their investments, we gather ROI data from reputable sources, including industry reports, real estate studies, and interviews with market experts. We calculate the average resale value for projects by multiplying the ROI against the project’s average cost according to our cost data, which is sourced from thousands of real Angi customers.
Want to help us improve our data? Send us a recent project quote or home appraisal value to [email protected]. Quotes and personal information will not be shared publicly.
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