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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.

The decision to repair or replace your driveway depends on the extent of the damage. If your driveway has a few small cracks, a simple repair will do the trick. If you see larger cracks and potholes, it may be time to consider resurfacing or replacement. Resurfacing is a great option if more than 25% of the surface is damaged, but if the damage is extensive—deep cracks or significant sinking—it’s best to replace the driveway entirely. A new driveway, with proper care, can last decades while patching or resurfacing might only hold up for a few years before needing more attention.

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.

Asphalt edging secures the sides of your driveway to prevent crumbling and cracking over time. Most driveways have edges with a 45-degree grading. This helps transfer some of the stress from the asphalt to the ground underneath. If your driveway doesn’t have proper edging, the pressure from your car may break down the edges over time.