Compass Greater NY, LLC
Ann Marie Damashek, GRI, CBR, SRES, Compass Greater NY, LLCPhone: (917) 623-0624
Email: [email protected]

Home Exterior: Could Your Driveway Bring in a Higher ROI?

by Ann Marie Damashek, GRI, CBR, SRES 08/21/2022

When homeowners weigh which upgrades best improve their property values; remodeling kitchens and expanding bathrooms are almost always top of the list. But what about installing a new driveway?

A dirt or gravel parking area turns into a veritable quagmire during bouts of heavy precipitation, which could mean you end up tracking more mess into your home than you bargained for. A new driveway can cure this inconvenience and possibly raise your real estate's value.

A new driveway affects curb appeal

Dirt, gravel or driveways in significant decline tend to have an inhibited attraction, which can turn new homebuyers off your property. Rather than eager buyers competing for the highest offer, sellers may face a lackluster pool of potential buyers. Like beautiful gardens and manicured lawns, driveways matter.

Best materials for driveway installations

Although homeowners typically think either concrete or asphalt, there are a wide range of materials leveraged for a new driveway. Some of the less known materials include tar-and-chip and exposed aggregate. These usually require a contractor who does niche work, however.

Handy DIY homeowners can install a mid-range driveway using interlocking pavers of concrete. Many of the same colorful and textured concrete pavers employed for patios and walkways serve equally well in driveways. When leveraged in this capacity, the products typically need to be four to six inches thick to support the weight of a car, truck or SUV.

Pouring concrete slabs is also a project DIY property owners can learn and complete with little to no professional asistance. Concrete driveways should run at least four inches thick and include rebar to increase their strength.

These projects require preparation similar to pouring a slab foundation, such as digging down to the firm ground and building 2x4 forms. Concrete remains a favored material in hot weather areas because it deflects heat more effectively than asphalt. Although asphalt delivers superior curbside appeal, it generally requires professional installation.

How much does a new driveway increase my property value?

The return on investment of a new driveway often depends on items such as size, design and the materials used, among other factors. Some experts peg a new driveway's impact at upwards of $10,000 to $20,000. Others took a more cautious approach by estimating it improves listing value by about 10 percent. What's essential for homeowners to keep in mind is: a driveway makes a first and lasting impression.

About the Author
Author

Ann Marie Damashek, GRI, CBR, SRES

Ann Marie Damashek has always been a natural at helping people prepare their homes for sale. She started out with a successful business selling goods for people on eBay. "Nine times out of ten they were hiring me because they were down-sizing,” Ann Marie says. "So I decided to get my license. I said, ‘Might as well sell their house too.’” The transition was a smooth one and for nine years she’s had a thriving full-time real estate business that allows her to marry her entrepreneurial spirit with her passion for helping others. With an office in Larchmont, New York, she serves all of Lower Westchester County, with her primary market in the Sound Shore region. The majority of her business is "sphere of influence” with former clients referring her to friends and family. A gifted communicator, Ann Marie quickly builds trust and rapport with her clients by being both thoughtful and responsive; she understands that during the purchase or sale of a home, a quick response time is crucial. "I am very accessible,” Ann Marie says. "I always make time for my clients. They can call me, text me, email me up until 10 o’clock at night and I will respond. I’m available on weekends. I get back to people very promptly. I’m very customer service-oriented.” Her clients appreciate her professionalism, passion and enthusiasm and as a result her repeat and referral rate continues to grow each year. While selling real estate is serious business, Ann Marie knows that at times humor and a moment of levity can be a relief to clients. While she has a laidback and easygoing personality, she can be assertive when needed on her clients’ behalf. She loves being of service to them, and the continually changing nature of the work keeps her engaged and fulfilled. "It’s never boring,” Ann Marie enthuses. "Every day is different. That’s probably what I like most about it. But I also enjoy helping people sell or buy and educating them about the process. I love helping them achieve their goals.” This ethic of service has resulted in well-deserved recognition. Ann Marie has received the Westchester Magazine Five Star Real Estate Agent Rating four years running, in 2015 and 2016 she was the #1 agent in her office, and she’s a Zillow 5-Star Premier Agent. To keep in touch with former clients, Ann Marie sends cards to mark special occasions or reaches out via email. To market her listings, Ann Marie uses Multiple Listing Services (MLS), as well as Listingbook.com, a service that allows both agents and their clients access to MLS data. She also uses a Facebook business page and ads to boost new listings or promote upcoming open houses. "That drives a tremendous amount of traffic,” Ann Marie says. She also uses the most popular real estate websites such as Zillow and Trulia. A strong believer in giving back, Ann Marie sits on the Board of Trustees of her church and is involved in a variety of social justice projects. She’s affiliated with Furniture Sharehouse, a furniture bank for Westchester County, which collects and distributes gently used furniture free of charge to those in need. "I love it on so many levels because as a realtor, it’s helps my sellers downsize through charitable donations. I like the environmental aspect of it as well. And it helps people who truly need things.” She’s also involved in Impact 100, a women’s philanthropic giving organization. In her free time, Ann Marie enjoys gardening, traveling, and spending time with family and friends. For the future, Ann Marie wants to continue expanding her business and developing her brand, and she someday hopes to grow a strong team. But her main goal is to stay in the real estate business, helping her clients to achieve their dreams.