Would a new driveway increase the value of my home?

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  #16  
Old 03-13-2020, 01:05 AM
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I think there is a distinct difference between an epoxy coated drive and a paver drive.

I have both. I look at the paver as a negative since I have to maintain it. Granted it's only 275.00 in materials and time. Sure, it is easy enough to do but it is more work than epoxy requires.
  #17  
Old 03-13-2020, 06:23 AM
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Originally Posted by villagetinker View Post
IMHO, if you do a very neutral finish on the "new" driveway, you may get some of your investment back, if you do a highly personalized finish, it may be a detriment to the sale. When we had our driveway painted, the contractor strongly suggested that we NOT have the palm tree painted in, we took his suggestion and get a lot of compliments.
Can’t wait to have a yellow Tweety Bird painted on the driveway of our soon to close pre-loved home....
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  #18  
Old 03-13-2020, 06:33 AM
stadry stadry is offline
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au contraire, 'River Rock' does NOT fade in sunlight - direct or not,,, its the non-uv-resistant water-based epoxy mixed w/the rock that fades,,, graded river aggregate ( river rock ) is as God made it - color-fast,,, does the resurfacing material need to be sealed ? yes but only annually,,, good scrubbing w/pressure wshr ( turbo nozzle's best ) & dawn dish detergent followed by 2 rinses - allow to dry & seal,,, 1 can use solvent based sealer over chattahoochee w/good results even tho the epoxy is generally wtr-based
generally speaking, pavers won't require any maint other than perhaps washing,,, sealing's not a rqmnt,,, can't imagine what maint pavers need,,, re-level due to parking on the same spot causing some depression ? inadequate paver base material ? weak materials ? insufficient depth of base materials ?

we still install driveways up in atl awaiting our closing & move to tv in may,,, if all in your 'hood have decorated driveways 'cept you, there's a diminished street/curb cred/value/appeal,,, if yours is the only decorated 1, you get some props + a positive bump in comps,,, if yours is a mess - you can figure out the rest,,, we install regular driveways, pavers, decorative concrete, & epoxy flooring

iirc, your best remodeling $ return's still kitchen & bath

Last edited by stadry; 03-13-2020 at 06:41 AM.
  #19  
Old 03-13-2020, 07:06 AM
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It's a driveway. No one is going to pay more for an enhanced driveway. Spend the money only if YOU love it.
  #20  
Old 03-13-2020, 07:17 AM
TandHSTAR@AOL.com TandHSTAR@AOL.com is offline
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Unless you plan on selling your home in the near future make the improvement to make you happy. By now I think the message is no youbwill not get your money back but the sale will be quicker because of the curb appeal. So do it because you want to make your place nicer looking for yourself.
  #21  
Old 03-13-2020, 07:24 AM
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Originally Posted by juscause View Post
It's a driveway. No one is going to pay more for an enhanced driveway. Spend the money only if YOU love it.
Agree, it is just a driveway. But.....our driveway is connected to the walkway which leads to the front entry of our home. I believe all of The Villages homes' driveways are set up this way. Pavers on our plain old discolored concrete has made our home look absolutely gorgeous. I can't help but gaze at the curb appeal our home has now. Yes, it's just a driveway but now it is a beautiful one.
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  #22  
Old 03-13-2020, 08:41 AM
TheWarriors TheWarriors is offline
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Also depends on the value of your home, those in the $200k range may not see much value it it while those in the $500k range and up expect it. That fact that you’ve already though you needed to do something may have already answered your question. And since you don’t see commenters homes here, be careful who you take advice from, it may be someone you would never want to living next door
  #23  
Old 03-13-2020, 08:46 AM
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A house is like a blank canvas, paint any (finish) way you like, but like many great artists you'll never know its value while you're alive

We spent a lot on shades , got rid of the builders blinds--the latest was putting motorized shades in the lanai
  #24  
Old 03-13-2020, 10:00 AM
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Quote:
Originally Posted by vintageogauge View Post
I had 2 neighbors that put pavers on their driveways and they made a huge difference in the selling price when both of them put them up for sale, both sold the same day they were listed. They do attract buyers. It costs about $800 every 4 years to clean and re-seal pavers, not all that bad.
We had two homes sell in one day and both had regular concrete driveways;homes don't sell just because of the driveway.
  #25  
Old 03-14-2020, 06:26 PM
mattlongrealtor mattlongrealtor is offline
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To the right buyer it could make a difference depending on the type driveway you replace the old one with and if the old driveway is in need of repair. Check to see what the covenant in your area will allow and the costs involved. Your Realtor should be able to weigh all these options with you.

In general, terms a driveway isn't typically "the selling point", it's usually a feature of the curb appeal unless there is a utility it provides that is not abundantly available. A lot of times these sort of upgrades don't reel in and higher valuations, but it could help it get more attention or sell faster.

It's worth getting quotes, because it gives you avenues to options that may not otherwise be present.

Again, with the numbers it's something to talk over with your Realtor, I have customer that love paver driveways and others that don't care.
  #26  
Old 03-14-2020, 08:25 PM
CoachKandSportsguy CoachKandSportsguy is offline
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Default Analysis from a data guy who has worked in pricing

Actually, its virtually impossible to disaggregate the increase in the final price of your house with a new driveway from the house without the new driveway. The way I look at the sale after buying and selling a few, and doing data analysis on pricing in a professional setting, just like Zillow uses factors on lot size, sq footage, and the documented characteristics, each house has unique factors, such as view, what the buyer wants vs what the seller has, etc, and the other factors, like how the house is staged, etc. ie, you can't tell me what the price, not cost, of the garage or any other part of the house was in the P&S when you bought or sold a previously owned home.

Basically every house the basic rooms, garage, lanai etc, to get to the estimated Zillow fair market value. However, at the time of sale, what appeals to the buyer is not the basics, but the uniqueness of the house for which he/she will pay. not everyone puts the same value on the amount of grass, the view, the lanai size versus the garage size versus any other extra which make the house unique from the same prebuilt standard model. So is there someone who will pay up for the new driveway? yes, will he/she know what part of the price they paid for the house is the new driveway?

Finally, too many people over financialize a decision. If you paid for college for your kids, what was your return? I paid for most of my two, and I refuse to financialize those decisions because I could afford it and wouldn't have them start off with a large debt load, regardless of ROI, my choice, my values. If you want a nice driveway, get it. If you will feel better about your house, get it. Just don't get it because you are trying to do an ROI on return on the future sale of the house.

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  #27  
Old 03-14-2020, 08:51 PM
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Like with anything you are trying to sell the more you customize something the fewer people will be interested in buying it. But for the right person, it will be worth it.

If your driveway is in need of repair as compared to your neighbors it will bring your house down by about how much it would cost the new owner to fix it.

If you have a premium home, I saw one really run down with horrible painted rooms, the house sold for 2/3 of its worth in a top area of TV. The new owner brought it up to (or even above) the rest of the neighbors and I think they never plan to sell it.
  #28  
Old 03-15-2020, 10:54 AM
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Quote:
Originally Posted by grahambda View Post
We are potentially looking at putting in a new driveway, do you think we would recover the cost when we come to sell the house or would it just make it more “appealing” but not impact the sale value?
I got a feeling on a list of things people consider in buying a house, a driveway is near the bottom of that list. I can tell you when we were looking for a new house we came across a few homes where the first thing that turned us off was the driveway coating. Now if the driveway is in bad condition (large cracks etc) or has a surface that could turn someone off it could be worth redoing it.
  #29  
Old 03-15-2020, 05:16 PM
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Quote:
Originally Posted by Graspher View Post
Can’t wait to have a yellow Tweety Bird painted on the driveway of our soon to close pre-loved home....
As long as it's not a large white cross, you should be OK.
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  #30  
Old 03-15-2020, 09:45 PM
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For most and maybe all improvements I do not think you get all of your money back.
Why not price the house and include in the price the cost of doing the driveway. If the driveway becomes a problem offer to reduce the price of the home so the buyer can use the savings to do the driveway.
I assume the driveway is not an "eye" sore.
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