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An asphalt driveway costs between $3,150 and $7,400, depending on the size of the driveway and the depth of the asphalt. Expect to pay between $2 and $6 per square foot for materials and $5 to $7 per square foot for labor. Although installing asphalt yourself will save you on labor costs, it might ultimately cost you more when you make a mistake.

Hot-pour sealants have an asphalt cement base that might also include rubber and other materials to allow the seal to flex in hot or cold temperatures. Asphalt emulsion sealants are not heated but are liquid applications that use water and an emulsifying agent to allow the asphalt and water to mix.

Whether you should resurface or replace your asphalt driveway heavily depends on its condition. If the foundation is solid and the damage is minor, resurfacing is your best bet because it’s more affordable and faster than replacing the driveway. But if your driveway has foundational problems and/or severe damage, like large, deep cracks and potholes, then it makes more sense to replace it. 

A properly applied sealcoat should last between two to five years, but we advise having your driveway resealed every two to three years to give it optimal protection. If you live somewhere with extreme weather, plan to reseal your driveway every two years—heavy rainfall and freezing temperatures can deteriorate the sealant quickly.