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Driveway resurfacing is an attractive, long-lasting and cost-effective option for renewing an old asphalt driveway. A typical project involves repairing and preparing the old driveway surface and applying a 1 -inch or thicker layer of new hot mix asphalt (or blacktop, the same stuff used on roadways).he cost of driveway resurfacing ranges widely and may start as low as $1 per square foot and go up to over $3 per square foot.
1 Depending on the company performing the job, the costs for asphalt resurfacing will usually range around $1.50 to $3.50 per square foot. 2  According to Drivewayguide.com, the cost of asphalt resurfacing is less than having a new asphalt driveway installed.sphalt resurfacing, however, is a simply layer of asphalt (usually 1-3â³ thick) that is laid on top of the existing asphalt. 1  The cost of asphalt resurfacing varies widely.