Budgeting for Your New Driveway

Two car garage aluminum siding suburban home blacktop driveway in residential neighborhood

Homeowners that live in a single-family home generally have some sort of driveway which means that keeping it maintained and updated becomes part of the home maintenance. Having a good quality driveway adds curb appeal to your home, and it can also make it easier to park your cars or other vehicles. If you feel like your current driveway isn’t up to par, you may be considering having it redone.

Budget Considerations

When you first start considering a driveway makeover, your budget is often foremost in your mind. However, before you start getting quotes, there are a few things that you need to think about. The first, and perhaps the most important, is checking with the Home Owner’s Association to see if there are any restrictions regarding what types of driveways are allowed in the neighborhood.

Once you are sure about what is allowed, you can start considering the details of the project. The length and width of your driveway will be a large factor in how much the project will cost. Plus, this may also be a good time to enlarge your driveway if you can afford it. You also need to consider the drainage and the extra elements such as curbs or lighting. Many homeowners like to add those little extras to give the driveway a complete upgrade. Another item to consider is the adjacent landscaping. This is especially important if you are extending or widening the current driveway as it may mean trees or shrubs will have to be dug up or chopped down.

Paying for Your Driveway Project

Once you have your quotes and are ready to move forward, you will also have to decide on a payment method. If you happen to have the full amount available in a savings account then you are good to go, but most people end up financing bigger projects of this nature.

A good option may be a low or no interest credit card. This can be a great option if there is one with a special introductory offer. It can help you gain points or sky miles as well. Some people choose to take out a personal loan to help pay for a project of this magnitude. A personal loan is often less work than taking out a home equity loan, although that is another financing option as well. Both of these loan options will come with interest at varying rates, which may not be as convenient as a credit card with no interest. However, if you don’t think you can pay it off before the interest kicks in, then the bank may be the better choice.

Get Competitive Rates at Black Tar

If you are looking for a high-quality residential paving company, then you need look no further than Black Tar. We have an A+ accreditation with the BBB, and we offer a 5-year warranty on all of our work. When you are ready to get a quote, you can click here for a quick response time.

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