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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.

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

Paving is a part of hardscaping, so all paving is hardscaping, but not all hardscaping is paving. Paving involves laying down concrete or asphalt, while hardscaping can also include the use of paving stones, bricks, gravel, wood, and more. Hardscape features that involve paving are considered permanent and will increase your property taxes, while some other hardscaping features—like those involving bricks, gravel, and paving stones—will not affect property taxes. Paving also typically requires a permit, while hardscaping features considered temporary will not.

An example of permeable paving is a set of cinder blocks or natural stone pavers with room inside for natural materials, such as gravel, sand, or grass. You can also design these pavers with brick or plastic tiles.

In addition to these pavers, permeable pavement can be obtained by using a highly porous material, such as pervious concrete or pervious asphalt.