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Financing is available for building a new driveway or repaving an existing driveway. One of the best times to repave or build a new driveway is at the end of summer. Typically at the end of summer temperatures have cooled down but are still warm enough to avoid freezing. Building or repaving a driveway can increase your home value and curb appeal. So how do you know if it’s time to repave a driveway?
If a driveway has ruts, big cracks, potholes, chunks of eroding pavement, aged appearance, missing pieces, or looks weathered… it’s probably time to repave the driveway. Paying cash is one of the cheapest ways to pay for a new driveway or repaving job. However, if you are in a time crunch or would rather save your cash for a rainy day, many competitive driveway financing options are available for all credit types. Keep reading to learn more about paving a driveway and financing a driveway.
Can you finance a driveway?
Yes, you can finance a driveway. Most homeowners use personal loans to finance a new driveway or repair an existing driveway. Getting a personal loan can be a simple process that can be done online. Once your loan is approved funds can be available as soon as 24 hours. In addition, personal loans typically do not require any collateral making the a safer loan option for the borrower. Whether you have good credit or bad credit you can qualify for driveway financing. Acorn Finance offers personal loans for all credit types with loan amounts up to $100,000 and terms up to 7 years. Personal loans can be used for a wide variety of home improvement projects.
What is the average cost to pave a driveway?
The average cost to pave a driveway can depend on the size and type of driveway you have. Concrete driveways can cost more than blacktop or asphalt driveways. On average, installing a new concrete driveway costs around $6 per square foot. While the average cost of installing new asphalt driveways is around $3-$4 per square foot. Repaving usually costs less. Repaving asphalt driveways usually costs about $1-$3 per square foot. Specialty driveways such as brick or cobble can cost significantly more money. They can range from $10 to $70+ per square foot depending on the cost of materials.
Is paving a driveway a good investment?
Paving or repaving a driveway can be a wise investment. It can increase curb appeal and help your home sell faster. Repaving your driveway can also help eliminate future repairs. Asphalt driveways can require less maintenance than comparable options and are less likely to crack over time. A properly installed asphalt driveway can last 20-25 years.
How much does it cost to pave a 200-foot driveway?
The type of driveway you want can vary the cost. The average cost of paving a 200-foot asphalt driveway is about $800. The average cost of paving a 200-foot concrete driveway is about $1,200.
How much does it cost to pave a 100-foot driveway?
Paving a 100-foot asphalt driveway costs about $400. Paving a 100-foot concrete driveway costs about $600.
What is the cheapest way to pave a driveway?
While gravel can be one of the most inexpensive paving options, asphalt may be a better investment. Compared to gravel, asphalt is an inexpensive option that is durable and requires minimal maintenance. Asphalt can offer more curb appeal than gravel.
Can you pave a driveway yourself?
While you can pave a driveway yourself, it’s best to hire a professional contractor in most cases. Paving a driveway is not that complicated but it requires the proper equipment, hard work, and usually more than one person.
Do I need a permit to widen my driveway?
In most cases, you do not need a permit to build a new driveway or repave a driveway. Just be sure to use permeable surfacing that allows water to drain through.
How to finance paving a new driveway:
As we discussed earlier, a personal loan can be one of the easiest and fastest ways to finance a driveway. There are many lenders that can offer personal loans for driveway financing. This means it’s important to compare offers and get the best deal. Acorn Finance offers a user-friendly and secure platform that can help you compare personalized loan offers. Simply submit one application and receive multiple offers within seconds.
Driveway financing is available for all credit types. Whether you are repaving or creating a new driveway, it can be a good investment. Most personal loans allow you to spend the money however you would like. This means you should take advantage of your personal loan offer and bring other home improvement projects to life.
While other types of driveway financing are available, personal loans can be the easiest, fastest, and least risky. Most other driveway financing options require collateral. In conclusion, repaving or building a new driveway can increase your home value.
If you have been considering paving a driveway but held back by the cost you should use driveway financing!