Many homeowners are realizing the value of adding luxury amenities to their homes. Traditionally, the goal of most home improvement projects has been to increase the home’s functionality or beauty, while also increasing the home’s value when and if the property is sold.
But more and more, homeowners are adding luxury amenities to their current homes, or including these features as they plan and build their dream homes. These include features for entertaining, such as outdoor kitchens and lounge areas, features to improve the home’s functioning, like smart home automation systems, and features that increase the home’s luxury appeal and accessibility, such as double-entry doors and home elevators.
Advancements in the home elevator installation process have made it more practical for homeowners to add an elevator to their home. But, without a doubt, an elevator installed within a home is a value-added feature. Why? Because a home elevator provides convenience and ease of movement throughout the home, as well as adding an attractive, aesthetic appeal to your home.
Home Elevator Installation Benefits
Luxury upgrade
Residential elevators offer a luxurious experience within your home. There are a wide variety of architectural decor choices, including glass door elevators for ultra-modern interiors or vintage-style elevators with metal scissors gates for a retro appeal. They are fully-customizable to fit the look and feel of your home.
Increased home value
Adding a custom home elevator will not only increase your property value, but it will provide an added value to your family’s life within the home. The increase in property value will vary based on the size and type of elevator as well as the home’s value prior to installation.
Practicality
Often homes have 3 or more levels. When you consider traveling from the basement to the second or third level multiple times during the day, a home elevator system simply makes good sense.
Accessibility
America has a population of over 50 million people that are over the age of 65 and another 10 million people with disabilities, which makes it difficult to walk or climb stairs. For these growing populations, having an elevator in the home can allow them to stay in a place that brings comfort and familiarity. Home elevators can help to create a home that is fully accessible to all populations, or added as a safety feature to provide peace of mind for aging-in-place.
When to Add a Home Elevator
Elevators in new home construction
The best time to install a home elevator is during the initial construction phase. Those who are building homes with considerable square footage are examining ways to make the interior space more comfortable and usable. For these homeowners, including a home elevator in their new, custom home is a luxury amenity that will benefit the family for many years.
Home remodeling projects
While adding an elevator during the initial construction of the home is an ideal option, many homeowners choose to add this luxury upgrade down the line. For those with existing homes, an elevator can be added during a remodeling project. Some modern homes are built with stacked closets, giving the homeowner the option to add a traditional home elevator down the road. Pitless and vacuum elevators offer an ideal solution in many existing homes to minimize the need for construction.
Home Elevators – The New Home Improvement Trend
Residential elevators were once reserved for the rich or famous owners of mansion-style estates, but in today’s market that is no longer the case. Due to the increased cost of real estate in urban areas, many Americans are opting for luxury townhomes with vertical floor plans. Other homeowners are looking for ways to adapt their home for accessibility or to age-in-place.
For these growing populations, having an elevator in the home can make all the difference.
Will an Elevator Increase Your Home’s Value?
Adding a home elevator can add 10% or more to the property value of your home. And of course, if you decide to sell the home, you can certainly tack on the cost of your elevator installation as a great way to recoup the money spent.
But, it is more likely that the greater value of a residential elevator to a family is not monetary, but in that it adds more joy, comfort, and functionality to the home, as friends, elderly parents, disabled people, and visitors can easily access the entire home.
Cost of Home Elevators
The cost of a home elevator varies depending on the layout of your home, construction costs, and design options. Most of our home elevators cost around $30,000-$40,000. However, with extremely custom, unique designs, this can increase to $100,000. Design options include interior design, fixture options, and door and gate options.
Your standard home elevator will also have certain features that ensure safety and convenience, such as:
- Emergency battery to lower and open in the event of a power loss
- Door interlocks to prevent doors opening while in use
- Safety switches for emergency stop
- Safeguards to prevent improper operation without a passenger
- The proper maximum weight and carrying capacity
Visit us at Arrow Lift for a wide selection of home elevators that are stylish, installation-friendly, and will add enough value to your home that property owners will typically recoup their residential elevator investment should they decide to sell the home in the future. Whether you’re planning your dream home, adapting your home for accessibility, or simply looking for a home upgrade, we’ve got you covered. Our team of experts has been helping homeowners just like you find the perfect solution to suit their needs for over 35 years. Contact us today to learn more.
