Planning a property upgrade and not sure where to spend your money?
Homeowners tend to invest money into kitchens and baths… and overlook the areas everyone sees first. Your driveway and sidewalks are your property’s “face.”
Here’s the thing:
Installing asphalt paving is one of the most underrated home improvements. Not only does it cost significantly less than other renovations but it can add serious curb appeal. It can also save you money by helping you avoid costly concrete repair services in the future.
Let’s break down where it fits into a smart renovation budget…
What you’ll learn:
- Why Asphalt Paving Belongs In Your Renovation Plan
- What Asphalt Paving Actually Costs
- Where It Fits Compared To Other Upgrades
- Smart Budgeting Tips For Paving Projects
Why Asphalt Paving Belongs In Your Renovation Plan
Most renovation budgets focus on indoor stuff. Kitchens. Bathrooms. New floors.
However what most Sellers don’t realize…. In the first 7 seconds a buyer forms an opinion about your home. That opinion is based on what they see from the outside.
Cracked driveways say something negative about your home. They make it look like the owners didn’t take care of their property. Plus, they detract from all your other home improvement work.
A fresh asphalt surface does three big things for you:
- Boosts curb appeal instantly — the property looks newer and better cared for.
- Avoids expensive repair jobs down the road — little nicks become giant craters if left untreated.
- Increases property value — exterior upgrades consistently outperform interior ones for ROI.
For those of you who are close by and would like to have it done properly, contact a trusted asphalt paving company in Denver and get a solid estimate on what your project will look like and cost. You can also see how it coincides with other concrete repair services.
The numbers support this statement. Industry reports show garage doors (exterior projects) return over 267% of investment when you sell. Driveways are literally next to garage doors when you look at them… so why wouldn’t it apply?
What Asphalt Paving Actually Costs
You have to know your numbers before you can budget for asphalt paving.
Prices have been fluctuating a lot lately. Oil prices are up. Labor rates have increased. Material costs have skyrocketed. The good news is… Asphalt is still one of the least expensive hard surface materials to install.
Here’s a breakdown of typical costs:
- Standard residential driveway: $7 to $13 per square foot installed
- Asphalt overlay (over existing surface): $3 to $7 per square foot
- Heated driveway: $12 to $25 per square foot
- Sealcoating: $0.15 to $0.30 per square foot every 2-3 years
Expect to pay between $3,000-$8,000 for the installation of a new, 600-square-foot driveway. That’s actually fairly affordable in comparison to other home improvements.
Expectations are that the world market for asphalt will continue to expand through the year 2025. So when you plan on paving, the sooner you do it the better.
Why Asphalt Beats Concrete For Most Budgets
Concrete is the most logical choice… but it’s more expensive initially. Concrete driveways cost $10 to $18/sq ft installed. Concrete repairs are also typically more costly.
Asphalt has a few clear wins:
- Lower upfront cost
- Faster installation (1-2 days vs. 3-5 days for concrete)
- Better in cold climates (it flexes with freeze-thaw cycles)
- Easier to repair when small problems pop up
Concrete has its uses… no question there. But asphalt will give you 80% of the finished product for 60% of your renovation budget.
Where It Fits Compared To Other Upgrades
OK now for the fun stuff….. where does asphalt paving fit into the big picture?
You have $20,000 to spend on property upgrades. Where do you spend it? That is the question every property owner must ask themselves. The reality is that not all improvements are equal.
Take a look at how asphalt paving stacks up:
- Garage door replacement: Around 267% ROI
- Asphalt roof replacement: Around 60% ROI
- Minor kitchen remodel: Around 112% ROI
- Bathroom addition: Around 32% ROI
Driveway and paving projects are typically in the same bucket as garage doors and curb appeal makeovers. They stand out. People see them. And they shield your home from damage.
How To Prioritize Your Budget
Here’s a smart way to think about your renovation spend:
Priority number one: Anything causing active damage to your property. Cracks in your driveway are allowing water to penetrate your foundation. Make repairs like these immediately.
Second priority: Curb appeal improvements. Asphalt paving can really help you out here. Nothing says “Wow!” like new driveways and walkways. And they don’t cost nearly as much as you think.
Priority number three: Interior updates. Kitchens and baths are wonderful… unless your house needs to look updated before you even walk in the door.
Many property owners bypass step 2 and go to step 3. Big mistake.
Smart Budgeting Tips For Paving Projects
Maximizing your paving investment? Here are some tips.
Get Multiple Quotes
This may seem like common sense but many people fail to do this. Pricing can differ 30% or more from contractor to contractor for the same job. Always get at least 3 quotes before you sign anything.
Time It Right
Paving contractors are extremely busy during late spring and summer months. Try to schedule during early spring or fall if possible. You will usually get better pricing and quicker turnaround.
Don’t Skip The Prep Work
Property owners biggest error is skimping on site preparation. If you cut corners on your base, you will have cracks within 2 years. Invest in grading, drainage, and a good base.
Note: Sealcoating is by far the best thing you can do in terms of maintenance. Have it done approximately 90 days after installation and then every 2-3 years after that. It will add 10+ years to the life of your driveway.
Consider Resurfacing Before Replacing
When your driveway is plagued with surface problems but has a good foundation, think about saving 50-60% by overlaying with asphalt instead of replacing.
Final Thoughts
Asphalt paving should have a legitimate place in your home renovation budget. It’s not as sexy as a kitchen remodel but it does what most renovations can’t… increase curb appeal, avoid expensive damage, and rewards you when you go to sell.
To quickly recap:
- Exterior upgrades beat interior ones for ROI
- Asphalt costs $7-$13 per square foot installed
- Resurfacing saves money when the base is still good
- Sealcoating every 2-3 years extends pavement life
- Always get multiple quotes and check the prep work
The most intelligent home improvements are those that help preserve your existing investment. Asphalt paving does just that… and for most home improvement budgets it won’t make you break a sweat.