Gravel – the most affordable of the driveway options available, unlikely to add much value to your home.
Paved – a paved driveway is a more expensive driveway option and as such is seen as a minimum requirement.
Concrete – can often be considered as industrial-looking and again is seen as a minimum requirement for a home.
Tarmac or Asphalt – with the introduction of coloured tarmac options these are not viewed as industrial as concrete driveways, but if created with character can complement the exterior of the home and lead to an uplift in value.
Printed Concrete – a step up in appearance from plain concrete driveways, these driveways can give offer a unique appearance and add value to your home.
Block Paving – can be an expensive driveway option, but will offer an increase in value if designed well and has been maintained.
Resin – there are a huge range of resin driveway materials to select from and if the choice complements the exterior of the property then the overall effect can give the wow factor. You can expect an increase in value of a property with a resin bound driveway
Not specifically, as a dropped kerb is essential to have a driveway that can be used for parking vehicles on. If you were looking to drop your kerb you would generally pay around £600 and the process is easily arranged via planning permission with the local council. A driveway without a dropped kerb could be seen as problematic.
A resin bound or pattern imprinted concrete driveway will add the most value to a property.
Estate agents when asked how much value will be added with the installation of a new driveway often advise that the property value is either maintained or enhanced with the installation of a driveway. The driveway surface will determine if there will be an uplift in the value, with resin and pattern imprinted concrete driveways seen to be those that will be seen as attractive to potential house buyers.
There is no set figure that a driveway will add to a house, estate agents usually talk in percentages and will quote 5%-10%. The percentage uplift will be affected by the actual property value and whether the number of parking spaces the driveway offers i.e. is it a two car driveway or a four car driveway.
No driveway will decrease your property value. However, if the driveway is in poor condition then it will affect the appeal of the property and any potential buyer would need to factor in expenditure to replace the driveway, which may reduce the offer they make on the property.
Driveways should not be considered an investment with a ROI (return on investment) rather a maintenance type of investment, whereby at the time you come to sell, the value will not be reduced due to the potential buyer needing to replace the existing driveway as part of any renovation costs.
Families with multiple cars will be attracted to a property that can offer a two car driveway or even a four car driveway. This avoids the need for residential parking permits and on-street parking and can reduce car insurance premiums. Effectively your own driveway gives you free parking.
Does a driveway add value? Yes, any driveway that offers parking space and eliminates the need for street parking is an enhancement to the value of your home. Paved driveways are seen as a standard requirement when assessing the value of your home. The more expensive options such as pattern imprinted concrete driveways and resin bound driveways will add anything between 5 and 10% to the value. The impact on a contemporary driveway with modern rendering combined can increase the desire factor and whilst not specifically adding value to your home, at the point of selling your home, can encourage potential buyers to bid over asking price, to ensure they obtain their dream home, safe in the knowledge that the home is aesthetically pleasing from the outside and that no funds need to be allocated for driveway upgrade in the foreseeable future.
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