The price for an asphalt driveway varies by region but typically runs from $1 to $2.50 a square foot for the base coat. There is also an average cost of $1 to $2.50 per square foot for a basic topcoat.
In addition to the base and topcoat, there are other costs that go into installing an asphalt driveway. If this is a brand new driveway, not just a resurfacing, a person can expect to pay up to $2.50 per square foot for a gravel layer under the asphalt. If drains are needed, that costs more too, as does sealing. For a chip seal, for instance, a person can expect to pay about $3.50 per square foot. If looking for a colored or stamped topcoat, add anywhere from $3 to $5 per square foot.
There are a number of pros and cons to choosing asphalt instead of other types of driveways. For instance, some of the pros include resistance to cracks, easy to contour, and the top coat can be applied over the existing layers of the driveway. This type of paving also lasts up to 20 years when maintained properly. On the other hand, it can be difficult to make the edges of the driveway straight, and it needs to be resealed every couple of years.