Hey guys !!! Still pretty new here. I purchased a 2 family home in the Black Rock area in Bridgeport ct. I actually have 2 driveways on the property . Both are currently gravel . The one in the front and one entering the rear of the house on another street. The tenants use the back driveway. The quote im getting ange from 2500 to 3500 for each one .I wanna do the front driveway because thats the one I use. I wanna know how much value will each add to my house? And also is it worth doing both?
Can anyone from the area give me a lil help here ?? Thank you in advance
Hi @Mathew Fuentes , do other properties in the neighborhood have paved driveways? If so, it's unlikely that it will add significant value to the property. If it was a single family, I would probably think differently, but most landlords aren't savvy enough to think "gee my tenants are going to hate shoveling snow on gravel, so let me pay more for one that's already paved" or the impacts of finding a plow guy who will do a gravel driveway (some won't).
Hard to say whether or not it's worth it without knowing the size of the areas you are paving, but if I could keep it under 5K, I'd probably do it on a profitable year to soften the hit of taxes.
@Mathew Fuentes I'd do it as a liability issue, cant salt gravel in the winter months, 2500 to 3500 is cheap compared to slip and fall suits