Whether or not you are planning to sell your home soon, your home has value, and naturally, as a homeowner, you would like your property to have the greatest value possible. This is why a lot of homeowners invest in things such as decking, a home office or kitchen and bathroom remodelling. But adding a new driveway is one of the few affordable home improvement projects that can significantly add value to your property and still improve the appearance of your neighbourhood in general. Below are some of the ways in which a new driveway can add value to your home.
Improve Its Market Price
If you live in a area where most homes have driveways, and yours does not have one, it will be difficult for you to sell it at the prevailing market price. On the other hand, if you live in a neighbourhood where most homes do not have driveways, adding a new driveway will give you an edge in the market and enable you to get a better price for your home. Therefore, if you are planning to sell your home, adding a new driveway can significantly improve its market value and enable you to sell it at a better price.
Create a Parking Space
If you live in an urban area within the UK, then you understand how important a safe parking space is. Parking spaces are quite expensive, and if your home does not have them, you will have to leave your car on the street and take the risk of having it vandalized or part with hundreds, even thousands in some cases, of pounds to buy a parking space. This is why over 80% of prospective house buyers are unwilling to buy a house without a driveway, a carport, or a garage.
Even if you are not planning to sell your home, a new driveway can be of value to you. For instance, in addition to saving the money you would have spent on buying a parking space, you can also rent out some parking space on your driveway and earn up to £1,000 annually.
Improve Kerb Appeal
Kerb appeal has to do with how your house looks to outsiders. If your house does not look appealing from the outside, potential home buyers will not think of getting in. Adding a driveway is an excellent way of improving the kerb appeal of your home, and in addition to improving the appearance; it will also contribute to the aesthetics of your neighbourhood overall and make your property more sellable.
The Bottom Line
Overall, it is apparent that if you would like to improve the value of your house, adding a new driveway is an excellent idea. It will not only make it easier for you to sell your house but also enable you to get a better price for it. Indeed, adding a new driveway in the UK can increase the value of a home by up to £22,000. However, for your driveway to serve this purpose, it has to be well-drained and properly maintained. If you are looking for an experienced driveway expert to help you with installing or maintaining a driveway, First Impressions Yorkshire is your best bet. Feel free to contact us today for more information about our company and services.