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How Much Value Does a New Driveway Add to Your Home?

In this guide, we ask the question, does a new driveway add value to a house, and if so, by how much.

There’s plenty you can do to entice potential buyers to your property if you’re entering the market. As expert driveway installers, we’ve seen everything from your simple concrete driveway to stylish block paving drives really boost that cash value.

Keep reading, and we’ll show you why – and how you can boost your own property value, regardless of the driveway cost upfront.

How Much Value Does a Driveway Add to a House?

On average, you can expect a good quality driveway to add between 5% to 10% value on top of your home. That’s no guarantee, however, as there are some factors that can determine whether or not you need off-street parking at all. Don’t worry – we’ll run through these bits and pieces in more detail below. Providing your driveway surface is good quality and that it’s laid by a reputable contractor, it’s always likely to add value, and pretty rare, it’ll decrease the cost over time.

In fact, potential house buyers are likely to shell out more – even for something as simple as an asphalt driveway – purely for convenience. More and more vehicles are taking to the road in the UK year after year (more than 40 million at the time of writing, total). Therefore, it’s safe to say motorists in the market for buying a home will want to save money on parking spaces elsewhere.

Many prospective buyers aren’t fussy about resin driveway options, tarmac driveways, finishing, etc. Providing it’s a basic, solid, flat surface and it’s got plenty of space for a car or two, your value is only going to increase.

When researching the potential value boost to your property, look carefully at the costs of materials and waste removal, expert labour, and any planning permission you might need to apply for. In our experience, a good construction job shouldn’t offset the eventual value a driveway adds to your property, but there are factors to keep in mind.

Of course, a four-car driveway is likely to fetch more interest than a two-car driveway with some audiences – again, much of the value-added is about convenience. However, there are a few variables elsewhere you’ll need to be aware of so you don’t end up knocking that kerb appeal down, too.

Factors That Affect a Paved Driveway Value

Factor 1 – Location

Being able to park right outside your front door is a huge perk for families and professionals alike. One of the more popular questions we get, is can I turn my front lawn into a drive? Which of course you can and it is much more likely to add value to your home if neighbourhood parking elsewhere is scarce. If your home is close to motorway links, too, it’s going to be more appealing to professionals and commuters if it’s one of few in the area with parking accommodation.

It’s worth remembering that not all homes actually need driveways. Smaller properties or those with ample free parking nearby likely won’t feel the effect of boosted value.

Plus – how much does a driveway add to property value compared to other homes in your area? Search for properties without driveways in your postcode on public listings, and it should be reasonably easy to compare the differences in listing price.

Factor 2 – Parking Space

Larger driveways are very popular with homebuyers who are setting up with families for the first time. Dual income families, where both adults work and therefore may need to commute, will likely want space for two cars minimum. Small driveway setups can price these buyers out of the market.

On the whole, the size of your driveway will likely reflect the size of your home. For example, a four-bedroom detached house is more likely to have space for two cars than one alone. However, despite the higher cost of laying a bigger driveway upfront, a bigger parking space could help you reap back that 10% on home value.

Factor 3 – Permit Parking

A modern home with a large, eye-catching driveway is going to make more than a good first impression if there’s paid permit parking on your street. If there’s no free parking near your street, or if you’re at the end of a quiet cul de sac, people are likely to want to pay more for the private space. Permit costs can escalate, and from a buyer’s point of view, it may be more cost-effective for them to pay for parking in the final price of your home.

It’s worth noting permit prices and availability in your local area. Find out from your local council or authority what the weekly or yearly costs are, and compare to the 5%-10% you could add to your asking price. Balance this with your research on other house prices for a clearer picture.

Paved Driveways That Will Decrease Your Home Value

Yes – it’s possible to lower the value of your home with a driveway, but only if you’re careless. Keep in mind the following factors.

Poorly laid driveways

This is pretty self-explanatory – would you buy a new house with a driveway in need of serious repair? Anything that will require more maintenance than a little to put right means extra time, money and hassle for your buyers. Also, the materials used to build the drive play a factor, if it’s not the usual concrete or tarmac option then this may put people off because they are renowned for quality and longevity.

Driveways without suitable drainage

Regardless of driveway types, if your drive doesn’t have efficient drainage, it’s at risk of developing puddles and even flooding. That’s going to mean additional labour costs and long-term headaches. Choose permeable driveway materials and make sure your drive is SUDS compliant.

Driveways without dropped kerbs

Legally, all home driveways need dropped kerbs; otherwise, you can’t drive or park there. This isn’t something everyone’s aware of on sight alone, so make sure you’re ticking all the right boxes carefully.

Last Word

How much value does a driveway add to a house? It all depends on location, space, kerb appeal and cost savings over time. Concrete driveways, gravel driveways and block paving systems can all be massively appealing to family buyers and professionals looking for convenience.

It definitely helps if your front garden looks nice and that you’ve kept your paved driveway clean and well-maintained – as there’s always going to be a property buyer who will generally pay more for the privilege.

The average total cost of adding a new driveway to your property may well be offset by how much value it adds, but it’s worth doing some research. Check local permit prices and home values across your postcode. Ask your estate agents for advice, too – but in our experience, this is one of few home improvements that will always add value to your home, providing it’s well-maintained.

We have a huge range of advice on installing and caring for concrete driveways and more across our site. Be sure to take a closer look if you’re serious about boosting that final sale price.