Does a Paved Driveway bring or add value to your property?February 2, 2022
Does a Paved Driveway bring or add value to your property?
In today’s modern lifestyle each homeowner needs to ask themselves some very important questions when considering paved driveway improvements to their privately owned property… will upgrading your current driveway or installing a new paved driveway overall add value to their property or sale value? This this article we are primarily focused on the use of Cobble stone or pavers specifically for your primary driveway at home. How can you be sure that upgrading your driveway, maintaining a current driveway or the installation of a new paved driveway altogether.
Lets explore this subject and some of the factors that may affect your decision
IS YOUR DRIVEWAY A GRAVEL SURFACE?
You should seriously consider having a paved driveway installed, even though your current driveway may suit your needs it will have an effect on a potential buyers decision to make an offer on your property or be the result of a lower offer than that of the “area average”. Gravel roads are known to be the cause of unnecessary dirt and dust, cost more to maintain over a long period of time, become uneven or cause ruts and sinkholes and may even become muddy in wet condition. Not to mention that walking on gravel roads proves to be challenging especially to the elderly and physically challenged individual. Some consideration should be given to this points and how it applies to others and not necessarily your current needs.
Your neighborhood and their paved driveway, paving trends and paving style
Property value is primarily determined by the surrounding properties and the previous 20 purchased values registered at the deeds office of properties close proximity to your erf. It is imperative that you try to keep your driveway close to the general style or standard of the immediate properties around yours. It is no secret that potential buyers will compare your property to your neighbours and should they have a better paved driveway, your property will be perceived to hold less value. Remember the natural law of humans, first impressions last and this could not be more accurate than a driveway since it is one of the 1st things one notices on arrival.
Value pertaining to paved driveway's
It is a reasonable expectation that paving your driveway will yield a return value or at worst case cover the cost of materials and labour associated with a driveway installation upon a successful sale. Depending on your choice on quality of pavers, pattern and style will determine the aesthetics of your driveway and property overall. The main objective is not to over capitalize but rather add to the likelihood of collecting a reasonable offer to purchase, perhaps fetching a higher offer since you now become the new standard for the area. For the most part property prices increase and neighbours are constantly changing and modernizing….this should include your driveway and to remain within the perceived average value of your property by others. Another aspect to keep in mind is to consider widening the width of your current driveway as it is always an advantage when one is able to park 2 vehicles side by side thus again adding perceived value.
Already have a paved driveway but...
It could use a little attention to detail such as identifying problem areas that could have cracked paving, separations of paving blocks or damaged individual paving pieces.
Luckily with a paved driveway damaged pieces can be removed and replaced easily, this means that your driveway will be easier to maintain over the years, holding or adding value to your property in the long run.
What paving should I use?
The answer to this question extends much further than your choice of style of paving, paving colour, shape or size of pavers. In today’s paving industry you have 2 types of paving processes, wet cast and dry cast paving. One should look at the benefits of each other these 2 processes to understand how the finished product is produced. It is our strong believe here at Tuscan Stone the wet cast paving has a more refined finished look and overtime holds together better after being exposed to the natural elements and general ware and tear. We will focus on this subject with a follow up article in the not to far future….
We hope you found this article useful and we look forward to releasing more valuable articles soon.