A lot of home improvements focus on the standard spaces – bathrooms, kitchens, living areas, etc. These improvements can add both functionality and value to a home, and make it a more pleasant space to be in. What about elevators, though? Even though they’re usually found in public buildings or apartments, elevators are now more commonly installed in people’s homes. Sometimes a residential elevator is installed for the convenience factor, while at other times it’s to improve mobility for someone who has trouble with stairs.
In any case, installing a home elevator represents a pretty significant investment; in addition to maintenance and upkeep costs. These costs vary according to the type of elevator that’s installed, as well as other factors. For example, a pneumatic residential elevator from manufactures like Pneumatic Vacuum Elevators have minimal maintenance required, while a traditional elevator has more pre-construction requirements which require more time and investments.
The cost of installing a home elevator
There are many different factors that contribute to the cost of a residential elevator, so the price range is quite broad. The total cost could be anywhere from $30,000 to over $90,000, with the average equipment cost for a 2-stop home elevator in the US starts at around $35,000. With every home elevator installation being unique, the total price will depend on a number of factors including:
- How many floors the elevator will travel to
- How much pre-construction work will be required
- The style of the elevator purchased
- The size of the elevator purchased
- Labor costs
- Permit & Application fees
How is a home elevator different from a stair lift?
It’s important to note that there’s a big difference between a home elevator and a stair lift. Depending on the make and model, home elevators can carry anywhere from one to four people, a person in a wheelchair, or a person plus some belongings. They can be installed purely for functionality, such as when an elderly or disabled person needs help moving throughout their multi-story home. Or, they could be installed for convenience or style, to add to the comfort and luxury of the home.
Stair lifts, on the other hand, are motorized seats that can slowly carry one person up and down a flight of stairs. They’re meant to help people with mobility challenges, and are especially useful in spaces where an elevator couldn’t be installed. However, they only have the capacity for one person, travel at a much slower pace and aren’t suitable for moving heavy objects between floors. They also can’t be integrated into the aesthetic of the home, and don’t typically add as much value to the property when compared to residential elevators.
Factors that influence the cost of installing a residential elevator
Why does the cost of installing a residential elevator vary? What factors influence the price of a home elevator? It usually comes down to these items listed below:
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Style
There are infinite ways to customize an elevator’s style, and they all have different price points. Of course, the more basic the style, the smaller the price tag, and vice versa. If function is more important than form, you could opt for a more generic-looking elevator. If you want an elevator that will aesthetically complement the rest of the house, you have all kinds of options to choose from. For example, pneumatic vacuum elevators have a sleek, panoramic appearance that offers 360° degree visibility while traveling. There are also vintage-style elevators, with replica antique light fixtures and walnut or mahogany accents.
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Options & Upgrades
Depending on the customers requirements and preferences, purchasing additional options and upgrades to an elevator purchase can impact the total cost of the elevator. Whether you are seeking a unique colored finish, automatic door openers/closers, or integrating your elevator with smart home devices, elevator manufacturers offer a variety of upgrades to customize your home lift to fit your project’s needs. If you are looking to have the elevator operate when power goes out inside your home, a battery back-up system is an additional upgrade to fit your needs.
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Number of floors
The average residential elevator can cover up to five floors; the more stops the elevator will make, the more material needed to manufacture and the more time needed for the installation. As a result, the number of stops is needed to calculate the cost of your desired elevator. If the elevator is a necessity more than a convenience, you could install the residential elevator to only access floors where improved mobility is most important.
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Site prep and installation
Installing a home elevator is the most cost-effective when it’s done in tandem with new home construction. In that case, the elevator shaft can be incorporated into the building plans, rather than having to alter existing structures. However, many residential elevators are installed in homes that are already built. When this happens, the contractor will have to inspect the house to determine the best place for the installation, structurally speaking. It’s important not to disturb any load-bearing structures, and the house’s insulation should also be kept intact. During this type of installation, the contractor may have to remove parts of the house to make room for the elevator shaft; this could result in a higher cost due to the extra planning and labor.
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Type of drive system
From pneumatic, to hydraulic, to cable driven elevators, there are many different types of elevator systems to choose from. They all have their pros and cons – and price points. Most of the variation in price is because of production or design costs; some technologies have added benefits which make them easier to install and maintain.
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Size
With different elevator sizes to choose from, whether you are looking to transport only a single passenger or a full sized wheelchair, the elevator’s size will directly affect the cost, due to materials, labor, etc. If limited space or budget requires a smaller elevator, there are space-saving elevator solutions that could meet your project’s needs.
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Labor
The cost of labor for a home elevator installation can vary from project to project. The final cost will depend on whether it’s being added to an existing structure, and whether a mechanical room will be needed. The scope of work will be assessed by the elevator contractor during a site-visit to the property.
What would your reasons be for having an elevator installed?
There are many reasons why people decide to install an elevator in their homes. Sometimes it’s about improving their ability to get to different floors, and sometimes it’s about adding to the convenience and appearance of their house. Either way, there’s no doubt that installing a residential elevator represents a pretty significant investment. Fortunately, elevator installations can be planned and customized for almost any budget.
