Does a Driveway Increase Property Value?
Some homeowners will go through home renovations to give their space the much-needed upgrades it needs to elevate their ranks in the market. And for some people, they would even consider adding a functional home exterior, such as a driveway. But the question is: will a driveway increase your home’s value?
After World War II, there has been an uptick in vehicles on the road year after year because it’s undeniably one of the most convenient forms of transportation. Because of this, it is expected that the number of vehicles will continue to rise in the future, increasing the demand for safe and secure parking spaces, even at home. For this reason, more homeowners are incorporating driveways in their homes.
Because there are many things to consider if you want to have a driveway in your home, it’s best to work with experienced landscape building services to help you get your driveway right and ensure that you’re following HOA and country road regulations.
If you’re considering having a driveway in your property and wondering if it would make a difference in your home’s value, keep reading. In this article, we’ll share what you need to know about driveways and if it can increase your property’s value.
How does having a driveway increase your home’s value?
Ideally, you’d want to avoid the burden of parking your car on the roadside and because of that, having driveways in your home is incredibly beneficial. Besides keeping your car away from other vehicles on the road, you also get lower car insurance and lower your risk of damage from roadside accidents.
When you have a driveway in your home, you’ll instantly impress potential homebuyers and reassure them that they can keep their vehicles safe. Besides, a home buyer makes up their mind on a house within the first few seconds of viewing, so if you have a driveway, you’ll get plus points right away.
How much increase should I expect?
Various factors come into play when knowing how much of your property value can increase by having a driveway. Some of the things you need to consider are your geographical locations, driveway’s size and surface. But generally, you can expect to see at least a 10% increase in value in your property.
How much should I invest in a driveway?
Building a driveway is a considerably big investment; however, the cost may still vary based on its size, location and surface. This is why you must work with credible landscape building services should you wish to incorporate a driveway into your home.
When you invest in a driveway, you’ll need to figure out its size or how many cars would fit in the space. Besides that, you’ll need to consider what type of surface you want, whether you want tarmac, resin, gravel or other options.
Working with a landscape building company will help you determine the right type of driveway and ensure that you’re adequately protecting your parked car, without compromising your home’s aesthetics.
Having a new driveway will definitely increase your home’s value, making it worth spending that extra money to help impress potential home buyers. To get the results and appearance that you want, it’s best to work with experts offering landscape building services for this home improvement project. So keep your cars safe, get a new driveway and increase the value of your home with one significant home improvement!
If you’re looking for landscape building in Bournemouth, check out Absolute Armour & Sons. We offer a full range of specialist building services such as groundworks, driveways, patios, concreting, block paving and more. Learn more about our services today!