If you’re thinking about investing in a new concrete driveway – or any other type of driveway for that matter – you’ll want to understand its true lifetime value.
You’ll want to know that your new driveway will stand the test of time and will continue to be cost effective for years to come.
You’ll want to know a new concrete driveway is worth it.
Like how an incredible concrete drive can work out at less than £300 a year.
Understanding lifetime value
Understanding lifetime value is about more than just the cost of a driveway.
That’s just your investment. Lifetime value is the cost of that investment spread over the lifetime of your driveway.
So the longer lasting your driveway, the higher its lifetime value.
You’ll also need to factor into other costs of the life of the driveway too, including:
- Repair costs
- Maintenance costs
Why focus on a driveway’s lifetime value?
When you’re comparing types of driveways, it’s easy to focus on that initial, upfront cost.
But sometimes…often… those cheaper prices are misleading. They’re a false economy, because they won’t last as long as other, more expensive options.
Of course, the most expensive option doesn’t always mean the most long lasting, not if you’re paying for pricey materials like cobblestone or Indian stone.
That’s why you need to calculate lifetime value, to understand how much your driveway is worth.
- If you’re paying £5000 for it to last two years, then you’ll need a new driveway every two years, and it’ll cost you £50,000 over a twenty year period… or £2,500 a year.
- But if you pay £10,000 for a driveway that lasts five years, then it’ll need replacing 4 times and will costs £40,000 over a twenty year period… or £2000 a year.
The best types of driveways – like pattern imprinted concrete – will last for over twenty years. So a single investment of £7000 for example, will cost just £350 a year.
Don’t believe us?
We calculated the lifetime value of this concrete driveway we installed in 2004
When we installed this gorgeous, grey cobblestone effect driveway in 2004, our customer paid £5000.
Over and 18 year period – that driveway cost just £278 a year.
To keep it in tip top shape, these homeowners have re-sealed the driveway every few years, though that’s not a necessity. It keeps the driveway looking stunning, but it’s not always functionally necessary.
This driveway has had three re-seals along the way, at a cost of around £300.
So that’s £5000 + (£300 x3) = £5,900
£5900 divided by 18 = £328 per year.
What incredible value.
Get a new concrete driveway for as little as £328 per year
That’s less than a penny per day, every time you drive or walk on your stunning new driveway.
If you want to invest in a new driveway with guaranteed lifetime value, get in touch.