We live in a 3-bedroom, 1 bath home. The garage was converted to create the 3rd bedroom. There is currently a concrete driveway graded to an incline, but it has an odd bump in it that makes parking on it nearly impossible for most cars.
If we had the driveway repaved to a flat surface, would this increase our home's value?
2007-09-19 06:45:55 · 8 answers · asked by T C 2 in Home & Garden ➔ Maintenance & Repairs
I'm going to disagree with most of the answers already provided. It sounds like you have a non-functional driveway with a bump in it; therefore, your property has a maintenance problem that makes it less desireable than the others with normal driveways. By repairing the bump and making your driveway functional again, you have effectively returned your property back up to the neighborhood standards. So yes, your property should be worth more than it was because you repaired the problem. But no, your property won't be worth any more than the others already are.
2007-09-20 17:14:55 · answer #1 · answered by Appraiser Guy 2 · 0⤊ 0⤋
Probably because in this market any little thing that detracts from the home reduces its price. This is a buyer's market and although you may not be in the market to sell, appraisers ding the value of the property when there are noticable defects.
2007-09-19 13:49:11 · answer #2 · answered by eskie lover 7 · 0⤊ 0⤋
YES! Anything you can do to "improve" your homestead will always increase the value of your home. Take before and after shots, too. OR, if you are thinking of selling and this is an issue, use it as a bargaining chip to get the price you want by agreeing to having it fixed.
2007-09-19 13:48:49 · answer #3 · answered by Sharon L 1 · 0⤊ 0⤋
Certainly. That odd bump, that robs most cars of the ability to park in your driveway, is a liability, not an asset.
2007-09-19 13:54:21 · answer #4 · answered by Anonymous · 0⤊ 0⤋
Yes - it will increase the value of the property.
A nicely kept garden and property makes people more interested.
2007-09-19 13:49:13 · answer #5 · answered by Anonymous · 0⤊ 0⤋
Yes. Any type of major repair to your home will increase its value.
2007-09-19 13:51:14 · answer #6 · answered by shawnd518 5 · 0⤊ 0⤋
ANY THING THAT INCREASES THE VALUE OF THE PROPERTY WILL USUALLY RESULT IN AN INCREASE IN TAXES. BUT, YES, IT WOULD ADD TO THE AESTHETIC VALUE MAKING IT MORE DESIRABLE AND SOMEONE WOULD BE WILLING TO PAY MORE FOR IT.
2007-09-19 13:51:23 · answer #7 · answered by Loren S 7 · 0⤊ 0⤋
If the driveway is already paved, it will not increase the appraisal to have it paved again.
2007-09-19 14:38:38 · answer #8 · answered by John himself 6 · 0⤊ 0⤋