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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.

There’s no single best asphalt grade—it all comes down to where and how it’s used. Highways and heavy-traffic roads need something tough, like polymer-modified asphalt (PMA) or Stone Matrix Asphalt (SMA). Local roads and parking lots rely on the Performance Graded (PG) system, chosen based on climate. A PG 64-28 mix, for example, handles a broad temperature range while simpler, more cost-effective mixes are typically enough for residential driveways. The best grade of asphalt depends on traffic, weather, and your budget, which is why a professional’s input is always a smart move before making a decision.

One advantage of selecting a resin bound driveway over concrete or asphalt is that homeowners have a variety of colors to choose from. Manufacturers customize aggregate materials, so customers can choose browns, golds, greens, blues, reds, and blacks. Some manufacturers also offer metallic shades.

Maintaining a driveway depends on its material. For concrete and asphalt, it's best to clean the surface thoroughly twice a year with a stiff broom and a pressure washer to remove accumulated dirt and debris. Sealing the driveway is crucial to protect it from water damage and freeze-thaw cycles. Before applying a sealant, pressure wash the surface to remove any loose sealant, dirt, or stains, as sealing over them will trap them. Any cracks or expansion joints should be filled with a flexible polyurethane caulk or asphalt sealer. In colder climates, use sand instead of salt for de-icing. Sand helps melt snow and ice without accelerating the freeze-thaw process, which can cause cracks.