Concrete vs. Gravel Driveway

[Lisa Johnson]

Hi everyone,

I am on the verge of my first flip.  My team and I will be doing our walk through tomorrow and then I will be running numbers to decide if this will be profitable.  With that said, I would like to tell you a little about the house and the neighborhood to get your thoughts on the driveway.  With regard to the house, it is a brick ranch, 4/2 - 2671 sq ft.  2 car garage and double carport w/ storage.  My goal is to get the property in the low 2's and  hopefully put no more than 50K in renovations. (I will know more after the walk through with my contractor tomorrow) The neighborhood is very nice.  Several of the houses are waterfront and those homes sell in the high 4's up to 800K.  Very few of the interior homes have sold in the last year so there are few comps.  With that said, the majority of the homes in the neighborhood both on the water and not,  have concrete driveways.  The house I'm looking at is an interior lot with water views.  It has a grown over gravel driveway.  My question is, will adding a concrete driveway add value to my flip or not?  If I just add new gravel and clean it up, I would be saving thousands.   Experienced flippers, what would you do? Please let me know your thoughts.