An inviting asphalt driveway increases the value of your investment property because of the curb appeal it brings. However, checking the asphalt is often neglected before selling a property, especially if it’s an investment. If you haven’t thought of it yet, you have three improvement options for your driveway, such as repaving, asphalt overlay, and seal coating.
Below are the important reasons why you need to check your asphalt before selling your investment property.
Ensure Protection of Your Property
Sealcoating involves adding a protective layer that’s made from asphalt or refined coal tar. It protects your pavement from chemical spills, oil, and ultraviolet rays. Home buyers want to invest in a property with a great asphalt driveway because poor asphalt allows water to penetrate easily, and oxidation also occurs that accelerates the melting of ice and snow.
Sealcoating is a cost-effective and fast service that’s carried out by a professional, like an asphalt Colorado Springs contractor. It starts with driveway crack maintenance. A powerful vacuum is used to get rid of tiny debris. After filling small cracks, a seal coat is applied to the driveway’s surface.
Great Value for Both the Home Seller and Buyer
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Sealcoating is a practical solution for investors to add great value to the property without spending to much time and money. In just a matter of hours, a seal coating can be applied by professionals, like asphalt contractors Colorado Springs.
For home buyers, a surface of freshly seal coated asphalt looks almost like new because of a deep and dark finish. A fresh seal coating provides protection of the driveway against harsh environmental elements. That’s why home buyers will have peace of mind knowing they can use their driveway without problems for many years to come. Also, future homeowners don’t need to worry about expensive driveway repairs.
A Less Expensive Home Improvement Project
According to Angie’s List, installing a new asphalt driveway costs anywhere between $3 to $4 per square foot. Renovating an asphalt driveway is a great way to improve the overall look of your home and boost curb appeal. Also, potential home buyers first notice an attractive driveway when expressing interest in buying a home.
The lifespan of an asphalt driveway is typically 15 years. The repair cost is anywhere between $20 to $6,000 or even more depending on the extent of the damage. Asphalt overlaying or repaving is a great option for driveway replacement.
An asphalt overlay is less expensive than a full repaving. Holes, depressions, and cracks are filled by a fresh asphalt layer for a refreshed look and improved durability. Also, it extends the life of your driveway.
Boosts Your Home’s Value
Asphalt driveways make your investment property look new and clean. In short, asphalt driveways boost a home’s value. It’s because asphalt handles temperature changes very well, which is even better as compared to concrete, giving a carpeted and neat appearance to the driveway.
As an investor, you want to ensure that your property sells close to the expected price you want. However, it’s not as easy to accomplish this goal as it may seem. A buyer survey shows what attracts them to buy a new property.
Here are the findings of the said survey:
- Most buyers or about 65 percent say they want a single-story home, and 29 percent say they prefer a two-story house.
- About 68 percent of the respondents say they like to live in a home that’s environmentally friendly without paying more for it. Asphalt is surprisingly recyclable, and it’s considered as the country’s most recycled products. It means that it can be reused with very little loss, and most go into the road system. Asphalt also uses less energy as compared to other paving substances.
- Millennials (about 23 percent) prefer to buy a house in a central city. Most home buyers want a house near walking or jogging trails, retail space, parks, swimming pool, and walkable communities. Asphalt driveways make a great walkway, as well as a jogging or exercise area too.
- Buyers prefer hardwood flooring, a center island in the kitchen, double kitchen sinks, water-conserving toilets, exterior lighting, a patio, a two-car garage, and two-and-a-half bathrooms. Investing in an asphalt car garage provides a durable area to store vehicles and other mobile equipment and machinery.
It’s important to check your asphalt driveway before selling your investment property because you’ll be able to improve the curb appeal of your home further by repaving, seal coating, or asphalt replacement. By doing so, it will increase the value of your property before you sell it. It means that you attract more buyers to consider or prioritize your investment property over other properties in the same local area.