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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.

Sometimes, when people talk about asphalt driveways, they’re actually referring to asphalt concrete, which is a completely different compound. Asphalt concrete is asphaltic cement combined with sand or grit. It is significantly more lasting and durable than regular asphalt but also much more expensive. If you’re considering using asphalt concrete, ask an asphalt company for their expert opinions.

You can expect your asphalt pavement to last anywhere from 20 to 30 years, or 25 years on average. The life expectancy of your asphalt driveway depends on the climate, the amount of traffic, and how well you maintain it. While you can’t necessarily control some of these factors, you can control the amount of maintenance effort you put into your driveway. 

To prevent your asphalt from deteriorating prematurely, you should follow a good maintenance routine involving regular cleaning, reparation work, and resealing.

Even with regular maintenance, most driveways don’t last much longer than 30 years. Alligator cracking is a clear warning sign that your driveway’s foundation is failing, and cracks that are deep and wide can let water in, causing more damage. Standing water is another red flag. If your driveway doesn’t drain properly, it’s going to degrade slowly. Finally, if you’re seeing dips or uneven patches, that’s a sign the base layer or soil is shifting. If these issues pop up, it’s time to replace your driveway.