Does driveway construction increase home value?

Guest 0.10 Dollars($)

I live in a 2 bedroom apartment. The garage has been converted to create another bedroom. There is a concrete driveway but it needs repair as otherwise it makes parking on it impossible for cards. Suppose I reconstruct the driveway, is that going to increase my home value?

larry · Joined: 27 Jun 2007 Posts: 2951 411.26 Dollars($)

Hi Shane.

Welcome to the forum.

It may increase your home value to some extent as you have improved your house by constructing the driveway.

BTW are you going to sale the property? Is it a mortgaged property? If you are not selling the property then it will just help you to make parking Smile

Feel free to ask if you have any further questions.

Best of luck,
Larry

Niicss · Joined: 03 Oct 2005 Posts: 807 118.37 Dollars($)

Welcome Shane.

Property worth will increase as you have repaired the driveway but in comparison to the other properties in your neighborhood it will not increase more. What I mean to say is you property value will be same as the other properties in the neighboring area.

Hope I make it clear.

smckaybiz · Posted: Mon Jun 09, 2008 7:46 pm Post subject:

I also think if you plan on living there for a while and don't have a lot of money I might consider repair work over reconstruction. I don't think the value of your home is going to increase as much as it costs to have the driveway rebuilt.

brian1 · Posted: Fri Jun 20, 2008 9:41 pm Post subject:

In most cases it will not increase more than the cost to put the driveway in

Brian

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