Things to Consider for Home Elevator Installation

When most people talk about home improvements, they’re usually planning on renovating the kitchen, or giving the master bathroom a makeover. However, installing a home elevator can also add value, functionality, and a sense of luxury to your home. There are plenty of reasons why people choose residential elevators. For some, it’s about upscaling their living experience. For others, it’s about ensuring continuing mobility for the elderly or disabled.

Whatever the case, having an elevator installed in the home represents a fairly significant investment; ongoing operating costs should be considered too. Fortunately, there are tons of options to choose from. Companies like Pneumatic Vacuum Elevators can install a pneumatic home elevator, or you could use a company that installs hydraulic elevators, cable shaft elevators, or whatever type you feel would best suit your home.

How much does installation cost for a home elevator?

This will depend on multiple factors, which will be covered more thoroughly below. The average starting equipment cost for a 2-Story home elevator begins at around $35,000 in the US, but can quickly exceed that budgetary price once installation & pre-construction work is factored in. Some of the biggest factors that influence the cost of a home elevator are:

• Labor costs

• The elevator’s size

• The elevator’s style

• The amount of construction/remodeling that’s needed

• The number of stops the elevator will make

Seven factors that will impact the total cost of your home elevator

Why is there such a huge variation in the price tag of a residential elevator? It usually boils down to the following factors.

#1: Labor

The cost for labor when installing a residential elevator can greatly differ from each project. If the elevator is being installed along with the construction of the house, that’s when you’ll see a smaller price tag for labor. The taller the elevator, the more time is needed for the installers to complete the project. If alterations have to be made to an existing structure to make room for the elevator shaft, this too could drive up costs.

#2: Size

The larger the elevator, the more materials needed to manufacture and the greater the cost. Whether you are seeking a smaller, space-saving solution or a larger wheelchair accessible model, the size of the elevator you wish to purchase should be in consideration when calculating the cost. With a number of different elevator solutions available, there should be a home elevator that meets your project's needs. 

#3: Type of drive system

The drive system is the part of the elevator that powers its up-and-down movements, and there are many different technologies on the market. These include cable shaft elevators, hydraulic elevators, pneumatic elevators, and much more. Each one has its own unique features, and they can differ widely in price points. Some of the technologies are simply more complex, and therefore more expensive. While others require minimal maintenance, which can save costs over time. 

#4: Site prep and installation

As mentioned above, there’s a big difference in cost depending on whether the elevator is being installed in an existing structure or in new construction. If it’s being added to a house that’s already built (which is often the case), the contractor will help the homeowner determine the best place to put the elevator. There will be common-sense considerations, of course – it probably won’t be put in the garage – but the structural integrity of the building will also have to be considered. Regardless of where the home elevator gets installed, modifications to the space are always necessary to accommodate the elevator. Sometimes this is a complicated job, while at other times the elevator simply has to pass through the first-floor ceiling to get to the second level. Depending on how much planning and labor is involved, this cost could vary quite a bit.

#5: Number of stops

For a two-story house, there will only be two stops – the first floor and the second floor. However, some houses are three, four or even five floors, and home elevators are custom built to the heights of your home. For each additional stop past two floors, you should add another $10,000 to $15,000 to the estimate. If you’re interested in avoiding a higher cost, you could also choose to have the elevator installed on just two out of the three or four floors. This is more common for home elevators that are used to aid mobility-impaired people.

#6: Equipment

The cost of equipment will entirely depend on which type of drive system the elevator uses. For example, some types of elevators need an entire mechanical room just for installing the equipment that will lift the elevator up and down. Many people also decide to get a backup battery system, since a power failure would render the elevator useless and potentially trap people inside.

#7: Style and customizations

A lot of people who install residential elevators aren’t just interested in functionality; they want to make a statement. And what a statement these elevators can make! Some styles can be sleek, modern, and minimalist, with glass walls and metal framing. Other styles could be Victorian or art deco, with reproduction hanging light fixtures and rich mahogany construction.

Why get a home elevator instead of a stair lift?

When first faced with the price of installing a home elevator, it’s only natural to ask if there are cheaper options. If the main purpose of the elevator will be to improve someone’s ability to navigate their multi-level home, then installing a home elevator is the ideal solution for comfort and ease of operation. While more economical cost wise, stair lifts are often temporary solutions that offer less functionality and aesthetic appeal. They are essentially motorized chairs that slide up and down rails, which are installed along stairs. The advantage of a stair lift is that they can often be installed where there isn’t any room for an elevator. The disadvantages are that they have a fairly limited capacity (only one person, and no heavy belongings) and are not very attractive to see inside a residence. Stair Lifts also travel more slowly than a home elevator.

In comparison to a stair lift, a residential elevator is more flexible in the number of benefits it brings. Not only will it take people to each floor effortlessly, but it can handle multiple people, plus belongings that would be difficult to carry up the stairs. Plus, a home elevator adds a certain aesthetic that a stair lift simply can’t offer. For resale value, installing a residential elevator is a far more appealing and resourceful investment than a stair lift.

Understanding the cost of installing a home elevator

There are plenty of benefits to residential elevators – and plenty of reasons why they cost as much as they do. If you’re considering installing one in your home, make sure you understand which factors influence the price so you know exactly what you’re paying for. 

Here are Some Other Articles Related to Your Search:

• What Types of Homes Qualify for Home Elevator Dallas
• New Redwood Pergola Elevates Home Life
• Whole Other Level: How To Install A Residential Elevator In Your Home