How to Budget for Your Next Asphalt Paving Project

Whether you’re a municipality looking to make road repairs, or a commercial property owner or manager looking to update your parking lot, budget is likely the most important factor impacting your decision making. Even though it’s never a fun conversation to have, it’s imperative that you consider some tips and best practices when planning out a realistic budget for your next asphalt paving project. 

Life Expectancy

When installed properly and consistently maintained, asphalt paving can have a life expectancy of 15 to 20 years. This means that you’ll have more budget over the course of the asphalt’s lifespan to fund other projects on your property or within your municipality. Do the math by simply dividing the upfront investment of new pavement by 15, and think about how that yearly breakdown can make room for other improvement projects. 

Time Is Money

You’ll definitely want to talk to several contractors before committing to one. Create a list of questions for contractors to answer that will help you quickly vet their qualifications and experiences. If a contractor can’t answer all your questions, move on to the next so you don’t waste your valuable time interviewing contractors that won’t deliver what you need.

Maintenance Is a Must

To truly get a return on investment, regular maintenance must be performed after the asphalt is paved. Whether it’s your facilities manager or a team of asphalt professionals, different tasks need to be performed on a seasonally and even annual basis to keep asphalt paving looking new. Spending the money on maintenance makes up for the cost of repair or replacement down the road.

Stick With Sealcoating

When working with your contractor, ask about sealcoating. It’s a necessity if you want to keep your new asphalt paving in good condition for years to come. When performed on a regular basis, sealcoating can offer a list of benefits, including keeping the asphalt’s appearance fresh and preventing moisture from causing deep cracks. Keep this additional (small) cost in mind.

Fill in Frequently

One of the biggest selling points of asphalt pavement is that cracks can be easily filled instead of being removed and replaced. If cracks in a parking lot or along the roadways are anywhere from ¼” to 1” need to be filled ASAP. Otherwise, water can seep underneath, pushing up the pavement and causing further damage. This isn’t expensive to do, but it should be a line item in your asphalt paving budget.

Budget for Big Projects

If you’re paving high-traffic areas that get more wear and tear than other areas, be sure to include the cost of restoration at the 10-year mark. Just the top few layers of the asphalt need to be graded and replaced, and it shouldn’t take much time or labor. Again, this won’t be a huge cost, but it will impact your overall budget for the project as a whole. 

Spread Out Costs

No room in the budget for costly repairs on extensive pavement surfaces? No worries — major, widespread asphalt repairs can be spread out over a few years. The right contractor will work closely with you to plan out deferred maintenance, working on smaller areas at a time to save money and avoid major disruptions to businesses or municipal roadways.

Do the Bare Minimum

So what if there’s no budget for a full repair or replacement, on even a small part of your asphalt surface? Don’t worry, at least call in the asphalt paving professionals to perform minor repairs like filling cracks or potholes. While these quick fixes aren’t a good substitute for full-blown repairs or resurfacing, they can give you some extra time to save up for the bigger jobs.

Hire the Right Professionals

Ultimately, making good use of your budget means choosing the asphalt pavement contractors that will have your best interest (and your bottom line) in mind. It begins with the mindset and value we bring to every one of our projects. We have experienced employees, some with decades in the industry, who have deep knowledge of all things related to asphalt jobs. We utilize the latest in paving technology and equipment.

Ready to get started on your next municipal or commercial asphalt paving project, get in touch with our team for peace of mind that your budget won’t be wasted.