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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.

There’s no single best asphalt grade—it all comes down to where and how it’s used. Highways and heavy-traffic roads need something tough, like polymer-modified asphalt (PMA) or Stone Matrix Asphalt (SMA). Local roads and parking lots rely on the Performance Graded (PG) system, chosen based on climate. A PG 64-28 mix, for example, handles a broad temperature range while simpler, more cost-effective mixes are typically enough for residential driveways. The best grade of asphalt depends on traffic, weather, and your budget, which is why a professional’s input is always a smart move before making a decision.

Pavers are a type of permeable hardscape that can be used for driveways, patios, walkways, and other landscaping features. Unlike poured concrete or asphalt, pavers typically have a layer of gravel underneath to prevent water runoff from damaging your property—though you can also lay pavers on grass. Because pavers are installed piece by piece, you can customize a one-of-a-kind hardscape that best suits your aesthetics, boosting your curb appeal along the way.

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