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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.

It takes recycled asphalt 48 hours to initially harden and up to 3 months to fully cure. It’s best to stay off of recycled asphalt for at least 48 hours, then you can walk or drive standard vehicles on it. Hold off on driving heavy trucks or equipment on it for at least 7 days. Allowing the surface to melt together and harden ensures that the surface stays durable and long-lasting. 

Whether you decide to DIY paver installation or want to hire a pro, it’s smart to understand the process. First, you’ll need to prepare the area by clearing away grass and dirt. Next, you’ll add the paver base of gravel and sand before laying the pavers on top. You may need to cut pavers to fit your space or the landscaping design and add edging stones.

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