Return On Investment Paving Driveway

Date:

Safety: A New Asphalt Driveway Or Walkway Can Increase The Safety Of A Property

My Paving Project – Kingsview Paving

When an asphalt surface begins to deteriorate, it might begin as a small crack or pothole. Over time, especially given the treacherous winter conditions we experience here in Nova Scotia, those small concerns with the asphalt surface can turn into larger issues that pose a safety risk to homeowners and visitors. Deteriorated asphalt surfaces can pose a trip hazard and can create a condition where pedestrians are at risk of falling and injuring themselves. Additionally, potholes or settled asphalt surfaces can collect water, resulting in slippery conditions in the winter months. For most homeowners, keeping ones property safe for children and visitors is a major driving factor is contacting One Call Paving for a new asphalt driveway or walkway installation.

How Much Value Does A Paved Driveway Add To Your Home

Does a paved driveway add value to your home? It almost always does. But does it add enough to make it a worthy project in preparation for selling your home? The answer to that is a bit more complicated. Find out about common driveway materials here and how much theyâll cost.

How much value will a paved driveway add to your home? Is it enough to consider paving your driveway in preparation for sale?

The short answer? It depends.

A driveway will add value to your home. How much depends on factors like typical houses in the area, market conditions, and the type of material you choose.

Let’s take a look at some common materials to give you an idea of the pros and cons of each and how costly the project may be.

Top 10 Ways To Add Value To Your Home

In the days of an uncertain stock market and job insecurity, there’s no place like home sweet home. Even though the housing bubble burst over the course of 2007 and 2008, according to MSN Money, homeowners in many areas of the United States can still recoup 80 to 90 percent of the money spent on home improvements. The key is to know where to spend. Just because you put $20,000 into renovations, it won’t necessarily add that much value. If your house needs a new roof, you won’t see a return on it for a while because people expect the roof in a house they’re buying to be in good shape. The same can be said for your plumbing and electrical systems. Bad plumbing will detract from the value, but new plumbing won’t necessarily drive up the price tag. The key to adding value is to focus on the things that are important to buyers, and to not over-improve. You don’t want to have the most expensive house on the block. So if the houses in your neighborhood have concrete driveways, investing in expensive brick pavers may not be in your best interest financially.

Here, in no particular order, are some tips for how to get the best bang for your buck on your home renovations, even in a tight real estate market.

  • Kitchen
  • Don’t Miss: Refinancing As An Investment Property

    Contact Our Team At Cmi Paving To Install Your Asphalt Driveway In Central Pennsylvania

    Asphalt driveways offer an aesthetic appeal and affordability thatll enhance the overall curb appeal of your home. If youve decided to install an asphalt driveway on your property, call our team at CMI Paving. Our professionals specialize in asphalt driveway installation, repair and irrigation solutions for residents in Central Pennsylvania. We can also answer any questions you may have about installing concrete if you decide to go in that direction. Contact us online or call 717-774-6565 to schedule an estimate.

    Commercial Paving Contractor Boosts Curb Appeal When Selling

    Driveway Pavers near Me

    Whether you are selling your home or business, relying on a commercial paving contractor to make necessary asphalt crack repairs or completely repave a driveway or parking lot makes financial sense. In many cases, a business or homeowner sees an above-average ROI because first impressions matter. Real estate agents often say location is most important but curb appeal is a close second because potential buyers judge the home by the initial appearance. Consider a few tips for selling your home or business quickly with the help of a commercial paving contractor that specializes in asphalt paving, sealcoating and crack repair.

    Collecting in the cracks

    Some of the foul liquids that harbor in asphalt cracks include dirt, oil, gasoline and rainwater. Trapped liquids lead to structural damage as well as slipping dangers for customers, guests and potential buyers. While preventative maintenance minimizes risks, some people put off receiving an assessment of their driveway or parking lot. Just as you might hire someone to clean and stage before selling, its critical to pave and seal.

    Figuring out your timeline

    Impressing buyers with preventative steps

    You May Like: How To Invest With Leverage

    Avoid A Patio That Looks Out Of Place

    Leslie Sellers, president of the Appraisal Institute, told HGTV that patios that see the biggest return on investment are typically ones that look as if they have been in place since the home was built. She warns that this doesnt mean the patio should look worn out or old instead, homeowners should upgrade or add a patio concerning the proportion of the home and property it sits on.

    An out-of-proportion project can not only throw off a homes balance, but it can also detract from the homes value. So, remember that an extravagant patio wont always give the homeowner a good return when it comes time to sell.

    Outdoor Renovations That Provide The Highest Return On Investment

    When making home improvements, its not only for your enjoyment, but for added cost to your investment when it comes time to sell. There are many strategic outdoor projects that can boost the return on your investment. Here are some of the highest grossing outdoor improvements.

  • Outdoor kitchens. Adding an outdoor kitchen to your backyard is one of the best ways to make money back on your investment. Outdoor kitchens are considered another room in your home, and can make 100-200% back on your investment, especially in warmer climates.
  • Firepits. Everyone loves to sit around a firepit at night, no matter the time of year. When deciding on a firepit, make sure its properly installed and styled for entertaining. When done well, a firepit can increase your ROI by 150%.
  • Exterior doors. Form and function are important when it comes to replacing your exterior doors. Home buyers will appreciate the added safety a new solid door will provide, and love the look of a beautiful door. This project can bring in 101% of your investment.
  • Siding. Not only does replacing the siding on your home increase your ROI by 80%, the curb appeal of new siding will bring more interested buyers to look at your house.
  • Paving your driveway. This is especially true if you have a gravel driveway. Try using pavers to add an interesting and durable look to your front drive. It can increase your ROI up to 75%.
  • Also Check: Is Buying A Manufactured Home A Good Investment

    If A Tack Coat Is Needed

    A tack coat will help adhere the asphalt to the underlying surface. It is generally sprayed over a surface that is deteriorating before the overlay is placed. This ensures that there is a uniform surface ready before a technician starts paving your driveway. The tact coat also consists of emulsified asphalt which is usually placed after the underlying surface is clean. This can be helpful in preventing a thin asphalt overlay.

    The Benefits Associated With Paving Your Driveway

    Asphalt Sealcoating Louisville, Kentucky – ADC Paving Since 1959

    We may be a little bit biased, but when it comes to residential driveway paving asphalt is truly the best material for paving. Not only that but there are quite a few benefits that come along with paving your driveway too. Some of those benefits are:

    • Affordability: Paving your driveway with asphalt is quite affordable. The cost depends on your location and the scope of the project however, these services will not put a hole in your pocket.
    • Timely: It doesn’t take very long to lay an asphalt driveway. Typically the construction will take one to two days meaning that you don’t have to park on the street for very long.
    • High Return of Investment: Paving your driveway can offer a huge return on investment. Paving services add value to your home and help you receive higher offers if you are looking to eventually sell your home.
    • A Good Investment: Paving your driveway is a great investment because it can easily last up to 12 years with almost no maintenance involved. And if for some reason you need to get a spot on your driveway fixed it is relatively easy to do so!

    You May Like: How To Invest Money In Us Stock Market

    Whats The Best Paved Material To Use On A Driveway

    Choosing a paving material will come down to your climate, budget, and general design preferences as a homeowner. In addition to price, youll need to consider how much maintenance youre prepared to sign up for, in addition to which materials are more DIY-friendly if youre taking this project on yourself.

    Hiring A Driveway Paver Installer

    Hiring a professional ensures your driveway’s built on a proper base and lasts for many decades. Pros typically offer better prices from November to January, when work slows down. Get at least three quotes from landscapers and ask plenty of questions.

    • Read reviews and check out their previous work on HomeGuide, Google, and the Better Business Bureau .
    • Verify their licensing and insurance are up to date.
    • If referrals are local, ask if you can see the work in person.
    • Always get estimates in-person, and be skeptical of low bids.
    • Never pay cash and figure out a reasonable payment plan upfront. Upfront payments should only cover the cost of supplies, not labor.

    Recommended Reading: Socially Responsible Investing Robo Advisor

    Ease Of Maintenance: A New Asphalt Surface Makes For Easier Surface Maintenance Especially In The Winter Months

    If you are reading this page, chances are you had difficulty keeping snow and ice off your asphalt driveway or walkway last winter. You might have been shovelling and dug into a crack or rut, causing your shovel to jam up. If you are able to utilize a snow blower or plow you might have had an easier time with snow and ice maintenance, but the asphalt surface is so uneven that you leave snow and ice behind when you are finished clearing the surface. This can be a bother and lead to unsafe conditions when temperatures drop below freezing. A new asphalt surface will make snow remove task much easier and provide a safer surface when your task is completed.

    Do It Yourself : Paving Stones For Driveways Patios And More

    Investment &  Value

    Are you considering DIY driveway paving stones or a do it yourself patio for your Denver home or commercial property? Brick pavers are a great way to add beauty, style, and function to your property. DIY can be a great way to save on labor costs, but labor is not the only factor to be considered when looking at a big project such as installing a new patio, walkway, or driveway.

    Need materials or pricing?

    Don’t Miss: Dave Ramsey Recommended Investment Advisors

    Finding A Los Angeles Landscaping Company To Partner With

    First impressions are everything, especially when it comes to your Southern California property. The ROI of landscaping is undeniable, but when making upgrades to your home, quality is important. Working with an experienced landscaping company can make all the difference.A great landscaping company will be able to advise you on how much to spend on landscaping to increase home value. Theyll also help you stay within your budget, outline a landscaping master plan and develop a project timeline that works for you.At Pacific Outdoor Living, weve worked on many properties where we helped clients make improvements that increased the value of their homes. We know the features that potential buyers love and those that will get you the most return on investment.Learn more about how we can help you by checking out our portfolio of completed projects. If youre looking to make landscaping upgrades to your home, wed love to help you with your next project.At Pacific Outdoor Living, we offer a full suite of in-house design build services. To get started, contact us today or give us a call at 818.390.9497 for a free estimate.

    Categories:

    When Should You Replace Your Driveway

    Typically youll need to replace an asphalt driveway after 20 years and a concrete drive after 25 years. Repairing a driveway nearing this age is not considered a wise investment. Beyond the condition of your driveway, many old driveways could do with an update just as a home benefits from renovations.

    Read Also: What Are Investment Mortgage Rates

    How Much Does A Grass Driveway Cost Per Square Foot

    Unlike most driveway options, rubber is non-porous, which means it doesnt drain. Make sure you grade the area properly and install an effective drainage system, to lower your risk of flooding. Grass driveway prices range from $3,000 to $9,000 or $10 to $15 per square foot, depending on size and materials.

    Cost to Replace Concrete Driveway. Replacing your driveway costs between $2,340 and $7,500. That includes both the price to remove the existing concrete at $540 to $1,510 and the new installation budget of $1,800 to $6,000. The exact rate depends on the size and type of cement.

    When replacing a driveway, the old material needs excavated. Your contractor determines whether the ground is firm enough to support a driveway or will need to be compacted for stability. Using forms, the pro will evenly spread gravel as a base, potentially adding rebar or wire mesh for durability.

    Concrete does not need resurfacing or resealing and debris such as dirt or snow are easy to clear off the drive. Cost efficient: Although the initial costs of installing a concrete driveway are not the cheapest, the low maintenance costs over its lifetime will often mean that it works out cheaper than other driveway materials in the long term.

    Increase The Curb Appeal & Value Of Your Home

    EPOXYShield Driveway

    A beautifully paved and maintained driveway can have a significant impact on both the curb appeal and value of your home. If you are looking to sell your home, a small investment on a new asphalt driveway paving service may return back to you, plus some at the point of sale. Give our team a call today to see what your best options are.

    You May Like: Private Money For Real Estate Investing

    Paver Driveway Cost Vs Concrete

    On average, a paver driveway costs $10 to $30 per square foot, while a concrete driveway costs$5 to $10 per square foot. Although a concrete slab is cheaper upfront, paving stones require less maintenance, can be replaced individually, and last twice as long.

    Paver Driveway Cost vs. Concrete

    Feature
    Install New Paver Driveway$10 $30

    Removing a concrete driveway takes 4 to 6 hours, and the resulting debris can be used as part of the aggregate if laying a new layer of sub-grade. This saves the expense of its removal and disposal.

    How To Install Driveway Pavers

    Follow these general guidelines to install driveway pavers and watch videos on YouTube to learn more.

  • Use stakes and a string line to mark the area for excavation.
  • Dig 6 to 10 inches deep, creating a mild slope, so water runs into the yard or street.
  • Lay down a commercial-grade geotextile fabric.
  • Spread out the road base and dampen it slightly before compaction.
  • Spread ¾, 1 max, of bedding sand and level with a screed.
  • Lay your pavers.
  • Fill in the gaps between the pavers with polymeric joint sandor aggregate for permeable pavers.
  • Reapply sand a few days later after the pavers have settled.
  • Edge the driveway with a concrete bond or paver edging and spikes.
  • Compact pavers with a plate compactor and a piece of carpet to protect the pavers.
  • Seal with a permeable sealer to prevent mold and stains.
  • Regularly maintain the driveway by topping up the joint sand, or pavers will start moving from side to side, causing rotational failure.

    Don’t Miss: Personal Investment Financial Planning In An Uncertain World Mariana Mazzucato

    Factors To Consider In A Driveway

    The choice between concrete vs. asphalt driveway depends on your personal preference, whether you value energy-efficiency, saving money or avoiding costly repairs. Since you may experience snow, rain and freezing temperatures in Central Pennsylvania, you should also think about how the weather will affect your driveway. Aesthetics and customization are also valuable qualities to look for in a driveway. Before you order a brand-new driveway, examine these factors to determine which ones matter most to you.

    Diy Brick Paver Driveway

    Landscaping Return on Investment: 10 Projects for Max ROI

    A DIY brick paver driveway costs $5 to $25 per square foot, or about 50% less than hiring a professional. However, experience is required to rent and operate heavy machinery, use a wet masonry saw, and properly install a graded sub-base. Hiring a professional guarantees the job’s done right.

    DIY Brick Paver Driveway Cost

    Tools & Materials
    Bobcat, power compactor, sod cutter, wet saw, jackhammer

    You May Like: Best Places To Invest In Gold

    Increases Value Of Your Home

    Take a moment to guess how much a brand-new driveway can increase your homes value. Now, did you ever think that it could increase your homes value by as much as $5,000 to $7,000? Thats no chump change. When you consider that the average newly paved driveway costs between $2-$15 per square foot, you could be getting some serious return on investment.

    Which Is The Cheapest Way To Build A Driveway

    Concrete does not need resurfacing or resealing and debris such as dirt or snow are easy to clear off the drive. Cost efficient: Although the initial costs of installing a concrete driveway are not the cheapest, the low maintenance costs over its lifetime will often mean that it works out cheaper than other driveway materials in the long term.

    Recommended Reading: Loans To Purchase Investment Property

    Share post:

    Popular

    More like this
    Related

    Where Do You Invest In Mutual Funds

    Mutual Funds...

    Best Investment Companies For Beginners

    Stash: Best...

    How To Invest In Gab

    Adventures In...