Same job, different words. Here is what overlay actually costs, when it is the right call, and the conditions that mean overlay will fail in 2 years.
The short version
Overlay and resurfacing are the same thing: 1.5 to 2 inches of new hot mix placed over an existing asphalt surface. It is a new wearing course, not a base repair. The base underneath has to be sound or the new layer mirrors the old defects.
Cost
Residential driveway: $3 to $7 per square foot
Commercial lot: $2 to $5 per square foot at scale
Edge milling (if needed): add $0.50 to $1.50 per square foot
Tack coat and prep: usually included, ask if quote does not specify
When overlay is the right call
Surface is 12 to 20 years old with normal wear and a few linear cracks
No alligator cracking, no potholes, no soft spots when you walk on it
Drainage still works, no standing water 24 hours after rain
You want 10 to 15 more years of life at one third the cost of replacement
When overlay is the wrong call
Alligator cracking covers more than 15 percent of the surface
Potholes deeper than 2 inches or multiple per 1,000 square feet
Edges are crumbling or the surface flexes under a heavy truck
Water pools in low spots, indicating base settlement
FAQ
Not sure if overlay or replacement is right?
Read the repair vs replace guide for the decision framework.