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Asphalt Driveways questions, answered by experts

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.

Driveway paving costs around $4,500 on average, but depending on many factors, you could pay anywhere from $2,500 to $6,600 or more. The size of your driveway will usually be the most significant factor, with more square footage increasing your costs. You can expect to pay between $2 and $15 per square foot for paving services. Some other factors that play a role include the following:

  • Quality of the materials

  • Contractor’s experience and expertise

  • Site preparation and grading, if necessary

  • Layout of your driveway

The three most common types of asphalt are hot asphalt, MC cold mix, and UPM asphalt. Hot asphalt is used most often for paving and patching roadways while it’s hot and workable. MC cold mix asphalt cures more slowly than hot asphalt, but it can be used for temporary patches and repairs in low-traffic areas. UPM is also used cold, but it can be used as a longer-term fix, usable in almost any conditions at almost any temperature.

Regular sealing, crack filling, and professional inspections help extend pavement lifespan and prevent costly repairs.

It’s best to weigh the pros and cons of each material and decide on your priorities for your driveway. Gravel won’t be an appropriate choice if your driveway experiences heavy traffic. You’ll find that you need to level and top it off regularly, which could make the material a much more expensive option.

The Pena Blanca, NM homeowners’ guide to asphalt driveway services

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