Installing a new asphalt driveway or repairing an existing one on your Winter Haven parking lot paving adds an appeal to your home and increases the chances of it getting sold. If your property is in the market, you’ll have a hard time selling it if there is no properly paved driveway or if the parking lot is non-existent.
However, most businesses fear investing in driveways and parking lots. There’s nothing to be ashamed of in terms of managing your finances, especially in such an expensive project as a driveway or a parking lot. The most common question asked when clients start their inquiry is how much a certain project would cost.
There are several factors that affect the prices of asphalt driveways and parking lot paving. The average price of replacing an old asphalt driveway is around $5,000. Of course, this will change significantly depending on the size of the project, the materials to be used, the deadline, the urgency of the completed project, etc.
To really get a good pricing information, you have to get at least three estimates from different asphalt paving companies. This will give you an overview of how much you need to have your driveways or parking lots paved.
Installation or repair?
It matters whether you need the asphalt pavement installed or repaired. If this is the first time you are going to install the pavement, then you might have to pay more than those who are only getting their driveways or parking lots repaired. There are many things that need to be done when installing a fresh pavement. The company has to make sure that the base layer is stable. It has to smoothen the foundation and keep it strong.
On the other hand, repair would cost less because there is already an existing pavement and all that needs to be done would be to repair whatever minimal problems were seen. Installing a new driveway can cost as low as $4,000 to as much as $10,000, depending on the size of the area to be paved.
There is such a thing as a minimum charge for pavement installation and repair. Even if the area that needs the new pavement or re-pavement is small, some companies would have to charge it the minimum amount (it can be between $2,500 to $3,500). This is because the company would need the same number of service workers and bring in the same equipment, regardless of the size of the area to be paved.