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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.

Three inches is a great thickness for a residential asphalt driveway that sees minimal to moderate traffic from cars, SUVs, and pickup trucks. However, a thicker driveway can better withstand the weight of a heavier vehicle, such as a trailer or a recreational vehicle. If you drive a heavy vehicle on a thin driveway, you risk cracking and damaging it.

Cobblestone is just one of many driveway materials. Other, more economical, albeit less elaborate options include concrete, asphalt, and gravel. 

If you want a material that most closely resembles cobblestone, your best option is bricks or pavers. Both cost anywhere from $10 to $50 per square foot and can be laid in all kinds of patterns. Depending on the type of paver you choose, you can also get a good bang for your buck by investing in durable natural stone.

The average cost to repair an asphalt driveway is around $2,459 to $2,500. However, prices can range from $100 for minor DIY crack filling to over $4,000 for more extensive professional work. Costs are often calculated per foot, with minor repairs costing $1 to $3 per linear foot and heavier damage like potholes, sinking, or crumbling costing $2 to $5 per linear foot. Patching smaller potholes can cost around $2 to $3 per square foot. The final price depends on the severity and extent of the damage, driveway design, local contractor rates, and whether sealing is included. For major repairs, it is recommended to hire a professional, and you may get a better deal by bundling repair and sealing services together.