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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.

Think of the street as a way to capture all the elements on either side of the road, including the road—a street encompasses the homes or other buildings, the trees, and the road of a given area as defined by the beginning and end of the street on a map. A roadway, however, is the component of the street where cars travel.

Common alternatives to a gravel driveway include concrete, asphalt, brick, stone pavers, and permeable pavers. Concrete and asphalt are generally the most affordable options. However, concrete can be prone to cracking in cold climates, while asphalt may soften in areas with high heat and direct sun exposure. For enhanced curb appeal, brick, stone, and permeable pavers are popular choices, though their installation can be more expensive due to intricate designs. Stone pavers offer a natural look and are sometimes installed with gravel around them. Both permeable pavers and brick driveways provide excellent drainage, which helps prevent flooding and reduce water runoff.

Recycled asphalt is a durable choice for a driveway, but doesn’t have the same appearance and low maintenance as standard asphalt. For long driveways in rural communities, recycled asphalt can make a great choice. Recycled asphalt is 20% to 30% percent less expensive than standard asphalt and is better for the environment.