Driveways are often the last thing that will come to mind when people look to invest in a property. For good reason too, the promise of a new bathroom or kitchen stands out as an extremely practical investment that can add some serious value to the property. This being said, a driveway can offer all of these benefits for a fraction of the cost. A new driveway is an incredible investment for any homeowners and here’s why.
Reasons To Invest In Your Properties Driveway
There are many reasons why you might want to invest in your driveway. Whether it be the current driveway looking weathered and worn or it’s just a case of adding another parking space to accommodate guests. The driveway is an investment that can greatly improve your home from a functionality and aesthetic point of view. A driveway is the face of your home, don’t neglect it.
Taking A Look At The Return On Investment
It’s time to take a look at driveways from an investment point of view. In this day and age, we don’t have money to waste. Every penny we invest in the property must go the full mile. This is often measured by return on investment. There are two main types of return on investment, financial which is the money you get back from this work when you sell your house and functional, the benefits it brings to your everyday life.
Increasing The Overall Value of The Property
Did you know that a driveway can increase the property value by up to 10%? A study completed by one of the leading parking space marketing companies has brought to light the true value behind an additional parking space. This is especially apparent for those living in a busy city area, parking spaces in the heart of London can cost up to £310 a month making them a great investment for anyone looking for a passive income.
Selling The Convenience of Your Property
When it comes to selling your property it’s the added touches like a recently done driveway that will help to sway buyers in your direction. The property market is an extremely competitive place and if your property doesn’t stand out as being the perfect place for potential buyers to live you will often find that the house sat on the market for longer than expected. A recently renovated driveway may just be that final selling point that charms them over.
An Investment That Will Last For Many Years
If you’re looking for a home improvement investment that is going to serve you and your family for many years, a driveway is a great route to go down. By choosing a highly durable surfacing material such as tarmac you can expect this driveway to last around 15 years. With proper maintenance, driveways will often exceed this estimated life span providing you with a stylish entrance to the property for a long time.
Creating A Safe Space To Store Your Vehicles
The safety that a driveway offers is simply unbeatable. When compared to parking on the road a driveway eliminates all risk of your vehicle being damaged by passing cars giving your total peace of mind that your car is safe at all times. This enables you to purchase a new car in the future with no worries that it’s going to develop dents and scratches from no fault of your own. Driveways are the ultimate solution for secure vehicle parking.
Well, there you have 4 reasons why you should consider a new driveway as a home improvement investment in 2021. If you’re ready to take this idea to the next level speak to a local driveway contractor today!
