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Yes, repaving a driveway increases a home’s value, but the extent to which it increases depends on the materials, design, and overall market conditions in your area. Additionally, if your existing driveway is already in good condition, then repaving it won’t yield as much of a value increase as it would if your existing driveway is in poor condition.

If your driveway is cracked, you can repave it with a process called asphalt overlay. Overlay is more cost-effective than a full replacement but is better suited for minor cracks and issues. If you have major cracks or other problems like water pooling, asphalt overlay isn’t your best bet. Plus, paving over a cracked driveway only extends the lifetime by about 10 years, whereas replacing it would start the clock over completely to give you up to 30 years.

You can expect your asphalt pavement to last anywhere from 20 to 30 years, or 25 years on average. The life expectancy of your asphalt driveway depends on the climate, the amount of traffic, and how well you maintain it. While you can’t necessarily control some of these factors, you can control the amount of maintenance effort you put into your driveway. 

To prevent your asphalt from deteriorating prematurely, you should follow a good maintenance routine involving regular cleaning, reparation work, and resealing.

In most cases, you don’t need a permit to repave your driveway, although some exceptions exist. If you’re widening your driveway and plan on widening the apron as well, you’ll usually need a permit from the Department of Transportation in your area. This permit costs between $50 and $300 in most cases. Most municipalities will also require a certified and insured contractor do the work relating to the apron and curb cut. You can contact your building department or ask your paving company if you need a permit. Your driveway professional will usually pull the permit for you.