This is our first home and I'm not very confident in making decisions regarding spending a lot of money on redoing things. We're probably going to move in ~4 years and so we have a choice to either a) redo it now, b) redo it before we move, or c) just leave it for the next owner. I'm conscious of the fact that when selling the place curb-appeal and first impression can mean a lot, and right now it looks a bit of a mess!
Please take a look at the pictures below and let me know whether, in my position, you would redo the driveway with new asphalt.
More Info
- We bought the house 3 years ago and will probably be selling in approximately the next 4 years.
- We live in Minnesota and so driveways take a beating from salt, ice, shoveling, extreme temp changes etc.
- We've been quoted around $3800 for new asphalt, or $4500 for concrete. We're leaning towards asphalt and resealing it before we sell.
- We can afford to redo it, but it doesn't mean that I want to spend the money on it! If it makes any difference, we currently have about $500,000 in savings/investments.
Couple of Questions
1) Does anyone know whether this kind of expense is at least partially recouped by increasing the resale value of the home? I would imagine it is but couldn't find much info about this.
2) Any tips or advice from others who have had their driveway redone?
As I mentioned, I'm uneasy spending large sums of money on stuff and so am looking for a little reassurance that this is a good or necessary use of our money.
Thanks in advance and I hope you're all having a great weekend!