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The cost to replace a driveway ranges from $8 to $15 per square foot, depending on factors that include material, size, and labor. If your driveway has deep cracks, potholes, or drainage issues (or if it’s simply past its prime), replacement might be the smarter investment over constant repairs. Resurfacing can be a cheaper alternative at $3 to $20 per square foot, but it won’t fix your driveway’s underlying problems.

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.

Asphalt is made of aggregate materials (sand, rocks, and gravel) and bitumen, a viscous, petroleum-based, waterproof substance. These materials are mixed together at extremely high temperatures to form asphalt.

While the specific timeline for building a driveway can vary based on driveway length and local weather conditions, the average concrete driveway can require several days to lay down all of the different parts of the driveway. The curing process may require you to avoid using your driveway for a week following construction. Heavier vehicles should be kept off of a new concrete driveway for several weeks. Building a gravel driveway may take just one to two days in total.