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A driveway's lifespan varies by material. Asphalt driveways typically last 15 to 30 years, while concrete driveways last longer, between 20 and 50 years. The longevity of any driveway is affected by factors like extreme temperatures, heavy traffic, and the quality of maintenance. Regular upkeep, such as filling cracks, resealing the surface, and ensuring proper drainage, can help extend its life. For gravel driveways, regrading to fill in uneven areas every year or two is recommended.

Driveway paving costs around $4,500 on average, but depending on many factors, you could pay anywhere from $2,500 to $6,600 or more. The size of your driveway will usually be the most significant factor, with more square footage increasing your costs. You can expect to pay between $2 and $15 per square foot for paving services. Some other factors that play a role include the following:

• Quality of the materials

• Contractor’s experience and expertise

• Site preparation and grading, if necessary

• Layout of your driveway

Yes, a paved or repaved driveway can boost your home's value by increasing its curb appeal and the functionality of your outdoor space. A new driveway can add anywhere from $5,000 to $20,000 to a property's value. An old, crumbling driveway can be a red flag for potential buyers and inspectors.

The amount of value added depends on the materials used, the design, and local market conditions. Concrete is often cited as adding the most value due to its long lifespan, though asphalt may be more desirable in colder climates. The return on investment is greatest when replacing a driveway that is in poor condition; repaving a driveway that is already in good shape will not yield as significant an increase in value.

Asphalt driveways last anywhere from 15 to 30 years, but if you don’t stay on top of repairs, you may find yourself spending extra to replace your driveway before its typical lifespan. Stay on top of repairing cracks and potholes by routinely inspecting your driveway once or twice a year. It’s a good idea to pressure wash your asphalt driveway at least once a year to keep it clean. Apply a sealer every one to five years, based on your climate.