How Much Does a Home Elevator Cost?

cost-of-a-home-elevator-in-copy-image The benefits of a home elevator are numerous. These handy additions can simplify and streamline the most tedious jobs around the house, making physical tasks easier, faster and safer to do. In fact, adding a home elevator to your home’s design is an indicator of foresight and forward-thinking.

Besides increased home value and convenience, a home elevator can be a great showpiece. And if you’re adding it to a new build, you can, in many cases, choose to roll the cost of a home elevator into your home’s mortgage payments.

For those wondering “How much does a home elevator cost?”, it might be more affordable than you think. Navigating the stairs in a home is more than a matter of convenience – it can be key to the safety of your family.

The Centers for Disease Control (CDC) has determined that each year at least one-in-four Seniors will experience a fall and that frequently those falls have life-changing outcomes. For instance, one-in-five of those falls results in a head injury or a broken bone.

This may help explain the growing popularity of residential elevators. Increasingly, Seniors are seeing home elevators not as a luxury item but as an investment that will facilitate safe passage between floors.

For those Seniors that install a home elevator, the question was not so much “How much does a home elevator cost?” as much as “Can I afford not to install a home elevator?”

What Determines Home Elevator Costs?

A residential elevator is not an “out-of-a-box” product, like a washing machine or range; each is customized to fit into a particular set of conditions – just like custom cabinetry in the kitchen. Considerations such as the area of the home where the elevator will be placed, available space, the materials needed, and other factors will all contribute to the total residential elevator cost.

Additionally, the type of lift system, the size of the unit and the complexity of installation will all help determine final expenses.

Finally, features inside the unit can also affect price as well. As you shop around and see all the “bells and whistles” available in-home elevator units, ask yourself these key questions:

  1. Does this feature enhance my safety and the safety of the elevator?
  2. Does this feature help me move comfortably between floors?
  3. Is a particular feature absolutely necessary, or just a “nice to have”?

In other words, make a note whether a feature is for safety, for comfort, or just “nice”. If money is a concern, you might eliminate those characteristics you don’t need, but make sure you are not giving up any necessary safety elements.

Elevator Lift Systems and Costs

Standard elevators, like the ones that you’ll find in high-rise buildings, are usually hydraulic or pneumatic and require substantial construction modifications that include a mechanical room to accommodate the lifting mechanisms. Such necessities are expensive and often require weeks of labor and excess materials.

Thankfully, Seniors aging in place now have affordable alternatives to those old-fashioned hydraulic and pneumatic systems – without sacrificing safety. Modern in-home elevators come with streamlined cable and pulley systems that facilitate safe movement between floors. Better yet, these new units do not require a separate mechanical room to operate, which reduces home elevator costs.

Installation Considerations

Old-school elevators also needed an elevator shaft that required massive construction. Add to that a heavy-duty circuit breaker that required expensive rewiring, which further added to labor and materials cost. Fortunately, most modern residential elevators do not require these cumbersome features.

So, if you are trying to keep costs under control, look for a home elevator that does not require the creation of a shaft, installing a new circuit breaker and wiring, or building a mechanical room. Eliminating these features means the installation process requires less labor and materials (Learn more about elevator installation).

When comparing units, make sure key safety features are included. For instance, look for a unit that comes with sensors that detect objects in the elevator’s path and alerts you if a door is unlocked.

If you would like to talk about additional tips about how you can make your home more “senior friendly,” check out our Home Elevator FAQ page or reach out to us on our Contact Us page.

Additional Costs

These are just a few of the many factors that shape the final cost of a home elevator.

If you still have questions, you’ll be happy to know Easy Climber has created a free, easy to understand Home Elevator Guide that provides additional details about purchasing and using a modern home elevator. In it, you find answers to most commonly asked questions such as …

  • How do I install a home elevator?
  • Are home elevators safe?
  • Can an in-home elevator help keep me safe?

Easy Climber’s Home Elevator Guide can help Seniors find the right lift for their lifestyle and living space, while also providing them with the information they need to ensure they are getting the best deal. To learn more about the cost of a home elevator for your home, and how to offset this, contact Easyclimber or check out our home elevator guide today.