Does a New Driveway Add Value to Your House?

We all look to improve our homes. Whether it be through cosmetic changes that make it a little more appealing on the eye, or through practical alterations that give it a little more functionality. Regardless of the reasons for the change, each improvement to your home shares one goal. That it will add to the value of your home. We all know that a new kitchen, bedroom or bathroom can see significant hikes in the value of your house but what about a driveway? Could the handiwork of a specialist surfacing contractor see your house rise in value? In short, yes! Whilst exact figures may be hard to come by, it has been estimated that a new driveway could see as much as 10% added to your house value.

Much depends on the type of driveway, its size and where you live. In this blog, we look at how you can invest well and reap the reward when it comes to selling your home, as well as get the benefit from this new improved feature.

How much will a new driveway add to my house value?

Estimates on how much a driveway can add to the value of your home vary depending on who you ask and what factors are taken into consideration. The general estimate is that you can expect anything from 5-10% added to the value of your home when you have a new driveway installed. This can be raised to higher levels if parking is particularly limited in the area, or if you’ve created space for multiple vehicles without impeding the front garden at all. In these times of multi-vehicle ownership for households, space is a virtue often desired.

At the same time, a driveway can also see your home drop in value if not laid compliant with rules and regulations.

Can a new driveway devalue your home?

For the most part, a new driveway will not see your home decrease in value. Should you opt to do it yourself though or choose the services of an unregistered or amateur company, you could find your home becoming less than desirable.

It is illegal to drive over a footpath without a dropped kerb. Unscrupulous surfacing companies may choose to take your money and not give you the full lowdown on what can be implemented at your home. This could see you pay lots for a drive that is not compliant, hit with fines for breaking the law and find it hard to sell at a true price due to the costly work a new owner may have to undertake.

In addition, if the work is poor quality or made of a surfacing material that requires constant maintenance, the interested parties may spot this and lower their offers. This is the same with drainage. If a SUDS hasn’t been installed or the driveway is not sloped, those looking to buy may see your drive pose more risk than reward.

What driveways should be considered to add to house value?

Each type of driveway offers its own benefits. Whilst some are more visually appealing, others offer significant benefits to areas that may encounter heavier rainfall or more constant traffic. Sometimes, it can be the cosmetic appeal that helps drive up the price of your home, but it is worth noting what maintenance may be required as well as what the overall cost of the drive will be.

Concrete driveways

Installing a brand-new concrete driveway is a quick and affordable way to have a new drive laid. Able to be poured into any shape you require; it certainly offers versatility and is very easy to look after.

Block paving driveways

Block paving driveways are among the most popular. It allows for unique customization of a driveway and is extremely durable. A lifespan of around 20 years makes it ideal for your time in the home and those who may purchase it from you. Not as simple to maintain as concrete but certainly not a challenge either, block paving offers an element of character to the kerb appeal of your home. One particular asset people appreciate is that if a fault ever develops, you only need to replace the broken piece of paving rather than the entire drive!

Tarmac driveways

Tarmac driveways are a common option among many. Like concrete, it is easy to install, not too imposing and provides a low maintenance option. Perhaps not the most alluring in terms of kerb appeal, the value increase may not be as significant as with block paving or resin bound driveways, but its affordability enables you to create a larger driveway space at less cost and this can be a huge asset to many.

Resin bound driveways

Resin bound driveways are another excellent driveway choice if you are looking to enhance both the appearance and value of your home. Suited to homes with flat driveways, this permeable surface can come in a variety of colours and be laid relatively fast. It is also low maintenance, which is always a key feature for you and those who may use it in the future.

How much will it cost to lay a brand-new driveway?

This isn’t a simple question to answer as much depends on the type of driveway you choose. Concrete and tarmac tend to be the cheaper options whilst block paving or resin bound tip the higher end of the scale. Why not contact Tidey & Webb for some expert guidance? We can then discuss your options and see what suits your budget and your design requirements.

What you should consider for a new driveway to increase your house value

Before picking a surface or even deciding that a driveway refurb is even necessary you should take into consideration the following:

• The ceiling level for property in your area: There is a maximum price houses in your road could sell for. If your new driveway elevates the home to higher than this ceiling, it may be hard to sell.
• Cost and budget: A driveway can cost significant sums and it should be considered that you may not see the increase in house value you expect. If your driveway was to cost £15,000 and the increase in your home value was to be just £5,000, you’ve lost money.
• The kerb appeal: Will your driveway appear to look better after the job is done? Could it serve multiple uses? Think about whether your driveway can be repurposed and therefore used as an additional selling point.
• The size: Is your new driveway going to accommodate more than one vehicle, and is it easily accessible? This could be beneficial to you and those who may one day purchase your home.
• Planning permission: In some cases, you will require planning permission to install a new driveway. Regulations relating to SUDS, the addition of dropped kerbs and general planning rules could mean your local authority will not allow you to add a drive without prior permission. It is worth consulting your council and speaking with a surfacing specialist in advance, so you are armed with all the relevant information.
• The maintenance: Your driveway could be simple to look after, but it could also pose challenges. Learn about the general maintenance of the surface types you are considering as some may look great but require a little more dedication than others. This could be picked up upon by potential buyers in the future.

Do you need planning permission for a new driveway?

In some cases, a new driveway will require planning permission but in many, it won’t. You will not need planning permission if your new driveway is made of a permeable surface that allows water to drain through it. Resin bound is good for this. Bare in mind that the bed of the surface will also need to be permeable.

You will also not require planning permission if water is directed to a lawn or border to enable it to drain naturally. If the surface is more than 5m² and made of impermeable materials or does not provide runoff to an impermeable area though, planning permission will be required.

A new driveway can be a worthwhile upgrade or addition to your home. Compared to many other home improvements it costs significantly less and can still deliver a good return on investment. That being said, you should consider cost, maintenance and whether the demand is there. If you have plenty of on-road parking options that are safe and readily available, it may not be the best option. Consult Tidey & Webb for assistance on what can work for you, our dedicated team will be delighted to help. Driveway surfacing can be quoted for, planned, and completed exceptionally quickly, so call us today!