A home elevator can really simplify lives. The best benefit is to the elderly and mobility challenged in the house who were previously restricted to a particular floor. With these residential elevators installed, these loved family members can access the different floors easily and feel more confident. Home elevator cost depends on a number of factors as this article will explain.
Installing a Residential Elevator Is No Longer an Extravagance
As these elevators serve their purpose so well, it is not considered a frivolous expenditure to have one installed in your house. Actually the value of your property also increases in the real estate market when you have a home elevator. The home elevator cost depends on whether you are installing one in an existing building or having one added to a building being constructed. Having an elevator installed in an existing house can be costlier due to the architectural changes that have to be made.
Residential Elevator Costs Vary According to Features
As with most things that we buy, the home elevator cost is influenced by a variety of factors such as the capacity, size, safety features, floors it can access and other accessories that you may prefer. Installation and operation are also important factors in deciding the price. Luxury elevators are expensive but will enhance the style and value of your home. Standard elevators serve their purpose well without being expensive. The range of price is usually from $7,800-$40,000.
Let us look at the cost of some popular home elevators:
• Elevators on tracks- This type of elevator features easy installation and is space saving. The price range varies from $7000-$10,000.
• Enclosed shaft elevators- These elevators are bigger with more capacity and a shaft needs to be constructed. The price range varies from $13,000-$18,000.
• Vacuum elevators- These do not need a shaft and can be installed easily without making structural changes. These elevators cost more than other home elevators.
• Stair lifts- A stair lift is installed along the staircase and has a comfortable seat. These are not so expensive and costs about $1200-$2500.