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The choice between asphalt and concrete depends on your priorities, budget, and climate.

Concrete is generally more durable, lasting up to 50 years with minimal upkeep, and offers more customization options like staining and stamping, which can add more to a home's value. However, it is more expensive upfront and can be prone to cracking in cold climates where water can freeze and expand.

Asphalt is typically cheaper and quicker to install and is easier to repair. It performs better in colder climates. However, it requires more maintenance, including regular resealing, has a shorter lifespan, and can get hot and sticky in intense sunlight.

Ultimately, if durability and long-term value are key, concrete is often the better choice. If upfront cost and performance in cold weather are more important, asphalt may be preferable.

When comparing installation costs, asphalt is often less expensive upfront than concrete. Asphalt prices typically range from $7 to $15 per square foot, while concrete can range from $3 to $18 per square foot. However, long-term costs should also be considered. Concrete driveways generally last longer (up to twice as long) and require less maintenance, which can make them more affordable over their lifespan. While asphalt has a lower installation cost and is easier to repair, it requires more frequent maintenance, such as sealing, which can add up over time. Therefore, while concrete is more expensive initially, its durability may offset the cost in the long run.

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 average cost of 1,500 square feet of asphalt ranges from about $10,500 to $22,500, depending on location, thickness, base material, and how accessible the job site is to crews and equipment. Keep in mind that your asphalt material cost may vary depending on its type, ranging from porous asphalt to heated blacktop. Standard asphalt costs $7 to $13 per square foot.