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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 your driveway is cracked, you can repave it with a process called asphalt overlay. Overlay is more cost-effective than a full replacement but is better suited for minor cracks and issues. If you have major cracks or other problems like water pooling, asphalt overlay isn’t your best bet. Plus, paving over a cracked driveway only extends the lifetime by about 10 years, whereas replacing it would start the clock over completely to give you up to 30 years.

Since it has a smoother surface using a mixture of finer rock and sand, 41A tends to be the best asphalt grade for a driveway, especially for residential driveways. Other options are available, but more homeowners choose 41A for a smoother asphalt driveway. Talk with your asphalt driveway professional for recommendations of the best grade for your specific driveway.

Several materials are suitable for steep driveways. Gravel and crushed stone are affordable options that provide good traction. Permeable pavers—such as plastic, rubber, or concrete—filled with gravel or crushed stones are also excellent, as they allow water to drain without causing erosion and perform well in ice and snow. Another option is resin, which can be coated with an anti-slip finish and helps prevent puddles. For added stability, you can install a retaining wall to prevent pavers and gravel from shifting over time.