How Much Does a Concrete Driveway Cost?
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Costs to Consider for Concrete Driveways
From landscaping to exterior painting, there are countless ways to improve your home’s curb appeal. But one often-overlooked way to enhance your home is by adding or upgrading your concrete driveway. A concrete driveway offers a durable and fresh way to improve your home’s appearance, making it a worthwhile investment for many homeowners.
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Is a new concrete driveway worth the cost?
A new concrete driveway not only improves the look of your home but has proven to be a low-maintenance and valuable way to invest in your home. Plus, since most concrete driveways will last decades, you can rest assured adding a concrete driveway will be a long-term investment for years to come. You may not think of a driveway when you think of a home improvement but think again as it is the first thing people see when they arrive at your home.
If you're looking for a way to finance your new concrete driveway, Acorn Finance can help. We can help connect you with lenders, allowing you to review multiple offers for a home improvement loan in one place. Keep reading to learn more about concrete driveways and what they cost.
Costs of Concrete Driveways: Frequently Asked Questions
What are the general costs involved with concrete driveways?
Concrete driveways are a great option for homeowners looking for a low-cost, easy-to-maintain driveway surface. The costs to install a concrete driveway will vary based on the following factors.
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- Base layer: All concrete driveways have a gravel base underneath them. But for added support or reinforcement, you can opt for a wire mesh base. This can cost an added $1 to $3 per square foot but can extend the longevity of your concrete driveway. If you live in a cold weather climate, you can even add a heated base to your driveway, which can help de-ice and melt snow in the winter. This can cost between $10 and $30 per square foot for a high-end upgrade.
- Excavation: If you have an existing driveway, you'll likely have to excavate and tear it up to install the new concrete base. This can cost between $500 and $6,000, depending on the type of material and size of the driveway.
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- Grading: Steep or sloped driveways will need to be graded before concrete can be poured. This can cost between $100 and $3,400 to ensure the driveway is flat and level. This could also involve clearing any trees or removing larger rocks below the surface.
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- Material: While standard gray concrete is the most affordable option starting at $4-$6 per square foot, there are upgraded materials available but cost more money.
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- Sealant and finishing: After the concrete has been poured, you'll need to seal up the driveway to extend its lifespan. You can expect to pay a few hundred dollars to seal and finish your concrete driveway.
When should you pay to install or replace a concrete driveway?
With any home improvement work, it's important to understand when the contractor expects payment to be made. While it's not uncommon to pay a deposit or a portion of the costs upfront, it's generally not encouraged to pay the lump sum before the work is done. This is to ensure the work is completed fully and to your level of satisfaction first. The same goes for installing a concrete driveway.
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How do you calculate the cost of a concrete driveway?
To calculate the cost of a concrete driveway, you should first determine how big your driveway will be. Once you've taken measurements, you can calculate the square footage by multiplying the length by the width. Then, you'll need to determine what kind of material you want to use.
The average cost of a new concrete driveway is around $4 to $6 per square foot. You can expect to spend about 60% of the final cost on materials, with the remaining 40% going toward labor for the concrete driveway.
Does a concrete driveway increase property value?
While it remains to be seen exactly how much, some studies estimate that adding a new concrete driveway can increase your home's value between 5 and 10%. A new concrete driveway will improve your curb appeal and give a cleaner, fresh look to your home's exterior. Plus, an appraiser can note that the driveway is new or in good condition on a home inspection for any potential buyers when it comes time to sell your home.
What are the different types of driveways?
While concrete driveways are popular and affordable, there are several other types of driveways you can add to your home to increase curb appeal, improve functionality, and add to your home's value.
Some other popular types of driveways include:
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- Asphalt. Similar to concrete, asphalt is a relatively affordable option for driveways that average around $2 to $6 per square foot. It does have to be resealed every few years but provides a great option for low-maintenance driveways.
- Brick. While brick is a beautiful and long-lasting option for driveways, it comes at a higher price. Averaging between $10 and $30 per square foot, brick is a long-lasting and durable option for those with a larger budget for their driveway.
- Paver. Similar to a brick driveway, pavers are a high-end option costing between $10 and $50 on average per square foot. One of the biggest downsides to a paver driveway is that weeds can grow between pavers, causing added upkeep after installation.
- Gravel. A gravel driveway is the cheapest option for a driveway, with prices averaging between $1 and $2 per square foot. While it is the cheapest, it requires replacing every few years and can damage or make your car dirty.
With so many options, homeowners can find a driveway material that fits their budget and aesthetic.
Can you get a loan to pay for a concrete driveway?
Yes! Acorn Finance partners with multiple top national lenders that can provide guaranteed personal loans for concrete driveways, up to $100,000, depending on credit score. By taking advantage of the Acorn Finance platform, you can enjoy a stress-free shopping and research process while ensuring you lock in the best rate for your concrete driveway.
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