does the value of your home increase significantly if you put in a double driveway as opposed to a single car driveway?

Question

I have a home worth 550,000 in a lovely neighbourhood. WE plan to sell this spring but must re pave driveway first. It is a single car driveway. If I convert it to a two car driveway at the cost of 3,000 will it significantly increase the value of my home? If not, it is much cheaper to re-pave existing single driveway. Any ideas on this?

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littylisa 2 weeks 2 Answers 204 views 0

Answers ( 2 )

  1. It really depends on what your neighbors have for driveways. If they are all singles, you would really stand out, and that would be positive for resale. If you are the only single in a street of double wide driveways, definitely upgrade to fit in. $3000 is not much money to spend for added parking which is very valuable. However it’s hard to put a price tag on the improvement. I would promote the extra space and definitely find the extra value for you!

  2. Since I do not know where your property is, it is difficult to answer definitively.

    Generally absolutely yes

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