New driveway
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A well-maintained driveway is a must-have if you want your home looking as good as possible. Plus, a newly paved driveway increases the overall value of your home. So, how much does it cost to pave a driveway?

The answer depends in large part on the materials used, the cost of labor and the length and grade of the driveway.

Total cost of paving a driveway

The type of material used is a major factor in the cost of a driveway, with higher-end materials, such as pavers, driving the overall price up by thousands of dollars.

The average cost nationwide to pave a driveway is around $1,500. For a less costly material, such as gravel, the average cost is closer to $800. For more high-end materials, such as pavers, the average cost rises to about $18,000.

With longer driveways, it may require more materials, which would increase the cost.

Still, the cost may be worth it. A driveway increases the street appeal of a home, making it easier to sell. Where you park also impacts the cost of your car insurance. That’s because cars parked on the street are considered at a greater risk of becoming involved in an accident, burglarized or stolen.

Excavation and grading

When putting in a driveway, you need to consider the cost of excavation. The land may need clearing and smoothing out, and any trees or big rocks must be removed.

Depending on the size of the area being cleared, it can run $150 to $400 per hour to hire skilled labor. That’s not even counting tree removal, which can cost from $48 per hour to remove light trees to $68 to remove a stump.

If grading in needed, it also will add to the overall installation cost. A driveway that’s 12 feet by 50 feet costs around $1,040 to grade properly. This includes the cost of staking the location, removing rocks and grading the soil, as well as all of the needed equipment and tools.

Cost of an asphalt driveway

Asphalt is one popular material for paving a driveway. It is durable and less expensive than other materials, and is relatively quick to install. Paving a driveway that’s 12 feet by 50 feet costs on average $830 for professional installation.

One of best things about asphalt is that it is relatively easy to repair. On the other hand, asphalt does not last as long as other materials (typically only 20 years), and it only comes in black.

Cost of a concrete driveway

Concrete is a more expensive option than asphalt, with materials costing $200 to $250. Overall, expect installation of a concrete driveway to set you back $850 to $1,050. In addition, installing concrete take longer than asphalt.

Concrete lasts for at least 40 years, and in many instances, longer. Some of the downsides of concrete as a material is it tends to crack in extreme cold and it’s difficult to repair.

Cost of other materials

To be sure, there are other options, including gravel, clay bricks and pavers.

Gravel is the cheapest option and costs about $800. Clay bricks and pavers cost the most. Installing either can run you into the thousands of dollars, with a driveway that’s 12 feet by 50 feet costing about $18,000 to install.

Still, gravel has a tendency to erode during extreme rain or when snowplows remove snow in the winter. On the other hand, it’s easy to replace and can last for a hundred years.

As for bricks and pavers, they last 30 to 40 years, but can crack or break. On the plus side, they are easy to replace.

Conclusion

Installing a driveway represents a great way to make your home more attractive and increase its value.

When having your driveway paved, keep in mind material and labor costs, including the cost of tree and rock removal, as well as the cost of excavating and grading the area.

 

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