5 Ways a New Driveway Increases Your Home Value

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5 Ways a New Driveway Increases Your Home Value

Planning on selling your house in the future? Want to make the most money from its sale? If so, you should focus on ways to increase the value of your home.

Though there are a number of factors that increase the value of a home, one of the easiest ways is to install a new driveway. A new driveway offers the first glimpse into your home for prospective buyers and a whole new curb appeal.

The following are 5 ways a new driveway by an expert paving contractor will increase your home value.

1. Adding Curb Appeal

Open houses and viewing are one of the many ways prospective buyers get to your house.

Also, the versatility of paving materials allows you to pursue different designs to increase curb appeal. For example, you can opt for decorative concrete for your new driveway.

2. A New Driveway Will Reduce Quote Deductions

Prospective buyers are often on the lookout for the condition of the entrance to your home, including the landscape, as it tells a lot about the state of the actual house and the fact that you, the previous owner, took care of it. This may mean a potential reduction in repair costs.

Potential buyers often seek ways to reduce your proposed selling price. They will often cite repair costs, landscaping, and other fixes.

Driveways featuring poor drainage and severe damage devalues your home. This may lead to high parking lot repair costs.

Installing a new driveway helps to fix this problem and can fetch you top dollar.

3. Convenience

Some neighborhoods feature narrow streets. This makes parking impractical and inconvenient.

Installing a new driveway appeals to potential buyers as it serves as free parking for their vehicles.

4. Safety and Cost Saving

Vehicles tend to be safer within the premises rather than out in the street, especially in unsafe neighborhoods. In the same vein, residential parking permits often come at a premium in terms of cost and available space.

A new driveway eliminates recurrent parking fees, offers practicability, convenience, and peace of mind.

You don’t have to knock on someone’s door to move the car or sort out any parking tickets. These factors should be a highlight in your home-selling brochure.

5. New Driveways Create Multi-Space Options

As the demand for convenient transport continues to increase, people are buying more cars. This increases the demand for more parking spaces.

Although the U.S. ADA Board has set standards for the recommended number of parking spaces, most residential contractors do not adhere or are not up to standard.

Typical houses often feature a one-car parking space. Professionals offer a number of paving expansion services, including initial construction and repairs to accommodate extra parking spaces.

This sets you apart from your neighbors, thus increasing interest from buyers.

Increase the Value of Your Home with a New Driveway

By following these tips, you will be able to increase the value of your home and attract potential buyers faster and more easily.

For high-quality paving and new driveway construction and repair and construction, seek the services of a professional.

To help keep the new driveway costs within your budget, check out our blog post on financing home repairs and renovations.

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