How Much Does a Concrete Driveway Cost?

What part of installing a concrete driveway costs the most?

It’s no secret that installing a concrete driveway can be a costly endeavor. Total cost of concrete driveways can vary significantly depending on the scope of the intended project. 

Of the largest expenses involved, materials and labor take the cake. While costs of permits, excavation, site prep, and any decorative elements can all add up, installing a concrete driveway correctly means hiring professionals. Concrete driveway contractors' cost can vary widely depending on the skill and expertise of the contractor themselves as well as the market in your area. 

Laying concrete is not an easy job, and tradesmen are usually paid well. This means that labor costs can end up eating a large portion of your concrete driveway budget. It is important to note that not hiring experienced concrete driveway contractors can result in an unsightly driveway, uneven leveling, cracks, or worse. 

Another significant contributor to concrete driveway costs can be the materials themselves. While concrete is considered an affordable option when it comes to finished driveways, installing a driveway does require a lot of concrete, rebar, as well as any finishing additives or materials. If you’ve ever searched “how much does a concrete driveway cost” without having found a clear answer, it is because the costs that go into concrete driveways can be influenced by more than just labor and materials. The exact cost will be based upon your specific project and needs. Therefore, you may want to gather a few estimates before starting your search for concrete driveway financing.

Obtaining a driveway concrete estimate with a complete breakdown is the best way to understand the costs involved of installing a concrete driveway. 

What are alternatives to concrete driveways?

Concrete is a popular option when it comes to finishing driveways, but there are other alternatives to consider. Here are some of the most common:

• Asphalt: Asphalt driveways are another affordable option for driveway finishing. There are downsides though, like cracking easily and requiring re-sealing from time to time. 
• Gravel: Gravel is a term used for loose stone and rocks and gravel driveways are a popular option for relatively inexpensive driveways. Gravel driveways allow for efficient draining and could be a good option in climates where it rains often. 
• Brick: While brick driveways are aesthetically pleasing, they are costly. Additionally, bric driveways need to be laid with precision to avoid shifting over time. 

When assessing the cost of concrete driveways along with the pros and cons associated, it’s no wonder why concrete driveways are so popular. 

Is there a return on investment for concrete driveway costs?

Just like with anything else, market conditions at time of sale will be the determining factor when it comes to what kind of a return on investment (ROI) you may see for concrete driveway costs. That said, you can generally expect to see some kind of ROI after installing a concrete driveway. It’s not called curb appeal for nothing, and curb appeal sells. Quality of installation is going to be key in not only enjoying the benefits of a concrete driveway yourself, but in seeing the most ROI. 

Can you finance concrete driveway costs?

Concrete driveway financing can come in the form of a home improvement loan. To check home improvement loan offers up to $100,000 (depending on credit score), visit Acorn Finance. 

Concrete driveway costs can be more than what some homeowners have in expendable cash on hand. Financing a concrete driveway can allow for those expenses to be split into much smaller and more manageable payments. There are multiple ways to finance a concrete driveway, including:

• HELOC: Taking out a HELOC (home equity line of credit) may be a good option for homeowners with sufficient equity in their home. Interest rates associated with a HELOC are typically lower since this form of financing is secured with the equity in your home. 
• Home equity loan: Similar to a HELOC, a home equity loan is backed by the equity in your home. It uses your home as collateral. This secured loan works similarly to a personal loan, but involves more risk for the borrower.

• Personal loan (commonly referred to as a home improvement loan): Obtaining a personal loan to finance a concrete driveway project can be a simple way to break up the associated costs. Unsecured personal loans for concrete driveways can be obtained via a traditional lending source or online utilizing lender marketplaces like Acorn. Interest rates associated with a personal loan for concrete driveway financing can vary widely depending on credit scores, financial profiles, and the chosen lender.