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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 Expect to pay a resurfacing contractor $3-$10 a square foot depending on the condition of the existing concrete, the resurfacing system used and local rates. 2  Small residential projects tend to cost more per square foot and may be subject to a minimum charge of $500-$1,000 or more. Resurfacing an average 500-square-foot concrete driveway typically costs $2,000-$5,000. 2  For do-it-yourselfers, resurfacing products in buckets or bags can be purchased at home improvement or hardware stories.