Paving the Way to Property Value. Does a Resin Bound Driveway Make a Difference?
When it comes to home improvements, there are a lot of factors to consider to determine if the project will add value to your property. For example, a new kitchen or bathroom will usually result in a higher resale value than something like repainting the living room.
In terms of outdoor projects, one of the most popular is a newly installed driveway. While it may not be the critical deciding aspect of adding value to your property when it comes to outdoor property refurbishment jobs, it can definitely help to add some value when conducted by a professional landscaping company.
In this blog:
1. How does a Resin Bound Driveway increase your property value?
As the population of Bordon, along with surrounding villages and towns, continues to grow, so does the number of vehicles. This increase is expected to continue in the coming years, putting a strain on the availability of safe and secure parking spaces. Off-road parking has become more desirable than ever before.
When buyers search for a new home, a driveway is one of the essential factors and sometimes even a dealbreaker. The primary reason for having a driveway is convenience: you're guaranteed a space near your property. It means you do not have to park your car on the street, which can be a hassle.
A well-paved driveway makes tasks such as carrying your shopping to the house much more manageable, which is particularly important for young families with children, the elderly or those with mobility issues. Having a driveway eliminates these problems and makes life easier.
When it comes to your home, first impressions are everything. Your driveway is typically the first thing people will see when visiting your property, so incorporating a stylish design is a great way to make a good impression on family, friends and potential buyers alike.
By designing a beautiful driveway, you can seamlessly find a style to complement your modern or traditional home. Please remember that if you are considering selling your home and are already a lucky driveway owner, you must make sure your driveway looks good to add value to your property.
Reduced Car Insurance Costs
Car insurance providers ask where we keep our cars overnight and during the day. It helps them to estimate danger and make decisions regarding our policy costs. The information about keeping our vehicles on the driveway typically helps to get cheaper car insurance quotes than when we park them on the road.
The main reason for this is that when your car is parked on a driveway, it is less likely to be stolen or vandalised. Additionally, if you live in an area with a high crime rate, your insurance company may charge you a higher premium if you park your car on the street.
Minimised the risk of the car being stolen
A driveway is a great asset to have for any property owner. Not only does it provide extra parking space, but it also can act as a security measure. Storing a car on a driveway will reduce the chance of your vehicle being taken, as thieves will be deterred by the prospect of having to come nearer to the property. This is especially beneficial if your home is located on a busy street, as it will make it more difficult for thieves to access your car without being seen.
2. How much value does a driveway add to a home?
This is a difficult question to answer because the figure is highly variable depending on several factors. These include:
- geographical location -how easy it is to park on the street and whether the property is located on a quiet cul-de-sac or a busy main road;
- the size of the driveway - a more extensive driveway generally translates to a higher increase in added property value;
- the state of the driveway - professionally installed, a well-maintained and functional driveway will add to a home's curb appeal, making it more attractive to potential buyers.
However, a general guideline can be followed to estimate the value a driveway adds to a home. A Resin Bound Driveway can add between 5 and 10% to your home's value. With average house prices sitting at around £400,000 in Bordon and surrounding areas, a paved driveway could potentially add up to between £20,000 to £40,000to your listing price.
3. Will a Resin Bound Driveway Add Value to My Property? Summary.
A new driveway can significantly add value to your home and make it more appealing to potential buyers. You will see a meaningful return on your investment, making it one of the smartest things you can do for your property. Not only will it increase your property value and add to the curb appeal, but it will also make your home more functional and convenient.
Do you need help? Are you looking for Resin Bound Driveway Services in Bordon and surrounding areas?
If you have any more questions about paving, repaving or resurfacing a driveway, please don't hesitate to contact Phil at Yew Tree Landscapes- your local driveway specialist who can help in any driveway matter in Bordon and surrounding areas.
Many thanks for reading!