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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.

To ensure you hire a reliable and experienced paving company, you should start by finding companies in your area that have at least five to ten years of experience working in your neighborhood. Next, rule out companies with poor reviews online or a series of complaints filed with the Better Business Bureau. Since driveways affect your curb appeal, you should also ask each company for references and pictures of recent work to make sure the work the company does is professional and high quality. Finally, check that the company is licensed and insured.

An asphalt driveway should be at least 3 inches thick over a compacted gravel base. Areas with poor drainage should have a thicker stone base. To install a new asphalt driveway over an existing driveway, the new asphalt should be at least 2 inches thick and the existing driveway should be in relatively good condition.

Cobblestone driveways can take a major hit on anyone's bank account, begging the question of whether it's worth it to build a cobblestone driveway. Some homeowners might prefer more affordable driveway materials like concrete or pavers, which can give a similar appearance to cobblestone without the high price tag.

Paving your driveway costs between $2,500 and $6,600, to put that in perspective. But for others, there’s nothing quite like the timeless look of cobblestone driveways.