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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.

Many asphalt companies have experience with tar and chip paving, but not all. The process is unique enough—and not incredibly common enough—that you may have to look around for a tar and chip specialist. However, speaking with a driveway company is a great place to start, especially if they have experience with multiple materials.

Like all driveway materials, asphalt can crack in the wrong conditions and with age. Many things can cause asphalt to crack, including shifting soil or settling under the foundation. Other common causes are driving oversized vehicles on the asphalt, tree roots, and using rock salt during the snowy season. Proper installation and sealing the driveway every 10 years can help prevent cracks.

An ideal driveway gradient is between 2% and 5%. Anything lower than 1% or higher than 15% can cause problems for your car or property. A driveway with less than a 1% slope increases your likelihood of flooding and water damage, while a driveway with a 15% grade or higher can be too steep for safe traveling.