When you’re purchasing a home, one of the “make or break” factors is the presence of a driveway. For many soon-to-be homeowners, a driveway is absolutely necessary, since it ensures the safety and security of their cars when left for long periods. It’s also why many homeowners hire a reputable concrete driveway company to make sure they have a strong and smooth driveway installed for efficient parking.
But that isn’t the only benefit driveways offer for a home. Did you know that it can also improve your overall house value?
That’s right, and if you’d like to learn more about how the driveway helps improve your house value, read on!
How House Value Improves When Installing a Driveway
According to a survey, 44% of prospective buyers would want a garden, while 84% say that they won’t choose a house just because it has no driveway. This is just one of the many positive numbers about the importance of driveways in houses, which is why it’s recommended to have one for your home, whether you plan to sell it in the near future or not.
How come, exactly?
This is because of its curb appeal. The curb appeal is the visual attractiveness of a home seen from the street. It’s the first impression people get when seeing your home, and of course, with a better curb appeal, a better home value, and a chance of people considering purchasing your home.
After all, no one would want to purchase a home that looks cracked and damaged, and this would turn away potential buyers. As mentioned above, the majority of buyers won’t even consider getting a house without a driveway, as this adds to its curb appeal and functionality.
If you do plan on selling your house, you may want to consider turning your front garden into a driveway instead. This can help add more value to your home, even selling it quicker.
The added value of a driveway may add to almost £22,000. Or, if your area permits it, you can even rent out your driveway as a parking spot, giving you an added income.
With that in mind, you shouldn’t have ANY kind of driveway installed! There are various factors to consider, and even these factors of a driveway will affect the house value of your home. One of them is the driveway’s PRICE, which I’ll get into in the next section.
If you have a badly laid driveway, chances are that it can DECREASE your home’s value, especially badly drained and damaged driveways. Furthermore, driveways without a slope would also decrease its value, since it’s more troublesome parking with this driveway design.
How is the Driveway Price Related to the Added Value
As I said, there are factors to consider before you get a company to lay a new driveway. While attractive driveways would add curb appeal and home value, you should also look into the actual cost of the driveway and if it will be worth it for the long-term.
If you will only be staying for a few years, you can choose a quick fix, which would still add value to your home without breaking your bank and having you actually lose money. But if you’re staying for the long run with plans to sell your house in due time, then I recommend that you spend extra bucks with a good company and materials to ensure that it lasts while still adding value when it’s time for selling.
Here are the things you should look into (and maybe follow!):
- There are various materials you can choose when laying a driveway. The cheapest is gravel with woven fabric geotextiles while the most expensive is concrete. I highly recommend concrete, as you would want something long-lasting for better house value and fewer maintenance costs. But if you don’t have the budget for it, asphalt is the next best option, though more suitable for driveways in poor condition for a quick fix.
- Take note that certain materials (like pavers) require drainage to prevent them from accumulating sitting water.
- To ensure the driveway stays firm and won’t crack, you’ll need to dig out a base, which should be around 4’ thick and compacted down.
- The overall price of laying driveway will depend on the material used, how big the driveway should be, the expertise and company name, as well as where you live. You can shop around for reputable companies and experts, getting good value for their quotations.
Wrapping It Up
When you want to increase your home value, then consider getting a driveway, if you haven’t yet. With its excellent benefits and encouraging numbers, you can have a high-quality driveway for your car’s safety and your home’s value when you decide to sell it.
Just make sure you select the right materials and people to lay the driveway for you. Good luck!