Is An Asphalt Parking Lot A Sensible Investment?

Is An Asphalt Parking Lot A Sensible Investment?

Constructing an asphalt parking lot is a hefty investment for small businesses in Boston, MA. To complete a paving project, you will want to consider expenses like ongoing repairs, maintenance, and repaving along with the upfront cost. 

At The Pavement Group, we construct parking lots for businesses of all sizes. You may click here to get a free quote on paving a new parking lot. As we work through the process of talking about your project, we will help you get an idea of all the costs involved. 

But is spending the money worth it? In this blog, we are going to discuss whether an asphalt parking lot is a sensible investment for a business or not. 

Save Time And Money

To start off, installing an asphalt parking lot saves both time and money. An experienced contractor can install asphalt fairly quickly. Moreover, most asphalt repair procedures are also time-efficient. In short, you won’t have to close your business for long to pave your parking lot with asphalt. 

Get A Competitive Edge

Secondly, a beautifully paved asphalt parking lot will give your business an edge over the competition. In other words, investing in an asphalt parking lot will bring more customers to your business. 

Enjoy Tax Breaks

An asphalt parking lot may also earn your business tax credits. Many municipalities may give you tax or “green” credit if you get your lot paved with porous asphalt or concrete. 

Porous asphalt is an eco-friendly solution for parking lot construction because the material allows water to percolate back into the soil underneath naturally. 

Moreover, porous asphalt also eliminates runoffs and can sometimes solve significant drainage issues, saving a lot of money in the long run. 

Boost Property Value

Besides boosting your business and attracting more customers, an asphalt parking lot will also improve your property’s curb appeal. Doing this will increase the property value, which is another financial advantage of investing in a lot.

Minimize Liabilities

While a parking lot is an excellent addition to any business, there is always some risk involved with moving vehicles. Accidents, damage to vehicles, and people getting injured are potential liabilities, especially if someone sues you for damages. 

Even in this case, an asphalt parking lot is a wise decision because, overall, asphalt is safer than other construction materials. For one thing, the smoothness of asphalt reduces trip and fall accidents over gravel parking lots and more significant visual distinction for line striping.

Go Green

Finally, asphalt is recyclable. This means when the time comes for repairs or repaving, the existing asphalt surfaces can be milled and repaved with just the surface needing to be removed once the original surface is installed.

These are a couple of reasons why asphalt parking lots are sound investments, even for small businesses. 

However, there are a few things to consider. For instance, while asphalt is durable, it will not last forever. That is why asphalt paved surfaces require consistent maintenance, such as sealcoating every couple of years. 

Asphalt is relatively easy to maintain if you have a plan. Plus, if you keep your budget consistent and perform timely repairs, you can easily factor these costs in your business expenditure. 

Overall, a properly installed and maintained asphalt parking lot will pay for itself over time. If you want to add a parking lot to your business in Boston, MAclick here to consult with The Pavement Group.