How much value does a driveway add to a house?
When selling your home, you tend to revamp everything to make it all look enticing to potential buyers. You may be considering if the driveway is worth cleaning up, or about adding one to your home. You may be surprised to learn that a driveway does add value to your home. On estimate a driveway can increase your property’s value by 5-10%. That is quite a bit for an area you do not really need to pay a lot to revamp.
Location is key to understanding how valuable a driveway would be. Not all homes benefit from a driveway. Is it difficult to find parking in your neighbourhood? Is there free parking available on your street? If not, how expensive are permits? If you compare these prices to other neighbours, it will help figure out how much value a driveway could add.
Having space for multiple cars adds value to your home. Car are in higher demand and the number of people who live in a two-car household has increased immensely. Buyers will be looking for available parking spaces when looking at property to buy.
Driveways That Can Decrease Your Value
When selling your home knowing what can decrease your home’s value is very important too. Driveway mishaps can deter buyers from your home.
- Driveways without suitable drainage as it can cause flooding.
- Driveways in need of serious repairs. This can make buyers feel like it is too much work and it is also unsightly for people walking past.
- Driveways without a dropped kerb. It is illegal to drive over a footway without a dropped kerb.
Repairing your driveway may not add more value but it will definitely be more appealing and help your property get noticed.
Are Driveways A Good Investment?
Driveways are definitely a good investment; a lot of buyers will not buy a home without one. Adding a driveway to your front garden is a great selling point and it adds value to your home too.
If you are thinking of selling and need advice, please do get in touch with our team here.