How a Home Elevator increases the Value of the Home

How a Home Elevator increases the Value of the Home

According to a study conducted by Florida State University, having an elevator in your home could increase the resale value of your home by as much as 10%. Given that the installation cost of the elevator is generally about $25,000.00 to $30,000.00 (standard 2 stop laminate cab), a home valued at $500,000 might increase the sale price by as much as $50,000. If so, the elevator not only paid for itself, but made a profit while it allowed the home to sell faster. Why? Simply because it broadened the range of interested buyers by negating the possibility of stairs being a problem now or in the future.

Remodeling: Aging-In-Place

• 89% of people 50+ wish to remain in their homes indefinitely (AARP)
• 75% of re-modelers have seen an increase in requests for aging in place work.
• 60% of re-modelers already perform aging in place work.
• The aging population is the number two issue to affect the remodeling industry over the next 5 years.

Not all seniors will age in place and will require the assistance of elevators and other products. Some will opt
to live with a relative, usually a son or daughter, and will provide the resources to have the home modified. Upper
level bedrooms and lofts are all now in reach as well as the apartment constructed over the garage. Elevators allow
people to regain their independence with a minimal investment.