The cost of paving a new driveway is mostly dependent on materials, labor, and size; and can be anywhere between $.50 to $50 per square foot.
When deciding on driveway paving materials, it is important to compare the immediate prices to long-term costs. Some paving materials’ installation costs are very affordable, but require regular maintenance and replacement every few years. On the other hand, some paving materials are expensive to install, but they require very little maintenance and will last you a lifetime.
Gravel or decomposed granite is the least expensive driveway paving option. However, it might pose maintenance problems, and especially in areas with a rainy climate. You can add a stabilizer to keep your driveway from washing away, but this will make the project more expensive.
Asphalt makes for an incredibly durable and resistant driveway for a reasonable price. On the flip side, many homeowners don’t like its appearance. Instead, you can go for a decorative asphalt driveway that is colored and stamped, but this will increase the cost.
Concrete, which is the most popular driveway material, is durable and low-maintenance. The cost is relatively reasonable for plain concrete, but the price will increase if you want it colored and stamped. If improperly installed, a concrete driveway can crack, so it’s worth paying extra for an expert contractor.
Pavers are the high-end driveway paving option. Because they are installed by hand, the cost of labor is high. However, this kind of driveway is a good investment because provides a grand entrance to your home that can last a lifetime.