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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.

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.

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. 

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.