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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.

If you notice minor cosmetic problems with your driveway, you should seal it. Look out for cracks and holes on the surface, faded asphalt or concrete, and stains from oil and other chemicals. Replacing your driveway may be necessary if you’re dealing with significant problems—¼-inch cracks, large potholes, and puddles from drainage issues. The cost to install an asphalt driveway typically ranges between $4,200 and $9,000, significantly more than resealing. Consider talking to a professional to discuss whether resurfacing your driveway—a midway project between resealing and replacing—is a better option for you.

The best ways to increase the lifespan of your driveway are to carry out proper maintenance and get repairs done quickly. First, reseal your driveway every one to three years to protect it from the elements. If you start to notice significant cracks, hire a professional to diagnose the problem before it gets more serious. You can also use sand instead of salt when de-icing your driveway (since salt is corrosive) and clean your driveway annually using a pressure washer to keep it in tip-top shape.

Driveway pavers are often worth the cost. Paver types like cobblestone, brick, and concrete are highly durable, and permeable paver options can be tremendously eco-friendly. While you may pay more for a paver driveway, you’ll see great returns from the increased curb appeal and low maintenance compared to other types of driveways.