PS I wanted to clarify my last statement - I meant that if a buyer really wants a ranch style home - wants all rooms on the main level - - they probably won't buy a multi floor home just because it has an elevator.

Hi Fulton
I sold a townhome (a resale) with an elevator. In that complex, they were an "exttra" when it was constructed. There is also a new complex in my town that already includes elevators in the base price. The reason for this, is that these townhomes are 5 stories tall. The elevators are a way of overcoming any objections because of the huge number of stairs. Elevators in some complexes are an upgrade, and the cost has been in the range of $25,000. With a multiple-floor unit, it is a plus, especially for baby boomers who might not have the dexterity to handle 5 flights of stairs!!
I am not so sure it is necessary in a normal 2 or 3 story home. If a buyer is looking to purchase a ranch-style home so that all rooms are on one level, an elevator is probably not going to work for them.

Hello Fulton and thanks for your email.

As Bill correctly noted, elevators are not immediately considered an amenity by most buyers, but as the population ages, the ability to put in an elevator to allow seniors to remain in a split level home may soon become a very marketable "plus" for your home.

On the average, it costs between $20-30,000 to install an elevator in a two story building. The cost increases with the greater number of floors. On the average, keeping the unit's parts lubricated, the computers calibrated, and the system working costs about $150 per month, and there will be an additional charge to have an elevator "monitoring" service on staff to respond to those emergencies when someone is "stuck" in the elevator. Repairs on an elevator may range from $1500-2000 per occurrence and I usually have one of these types of repairs every three months in a commercial elevator, but suspect that number would dwindle to only once per year in a home elevator.

On the other hand, handicapped elevators (designed to carry only one person or one wheelchair) are slightly less expensive to purchase and maintain. The average cost for this type of elevator is about $10-$15000, but its usage is limited to only those in a wheelchair or handicapped--they do not accommodate more than one person at a time. These units require less maintenance too as they are not used as often as a regular pedestrian elevator.

For more information on elevator costs, maintenance and installation in your area, speak with an elevator installer.

Good luck!

Sincerely,
Grace Morioka, SRES, e-Pro
Area Pro Realty

Fulton,

We would not consider home elevators as a common home amenity but see their numbers increasing. As the nation's population continues to age, more and more people will be seeking ways to extend their stay within their home.

It is our opinion that elevators can make your home more desirable to senior buyers that would otherwise be considering single level homes. We do not view this as a fad or a "white elephant" but a realistic adjustment to the needs of today's buyers.

The cost of these conveniences is relative to the means of the buyer but typically come with a price tag between $30,000-$40,000. Their ability to improve the owners quality of life can easily justify the existance and expence as well as make the home more desirable in the eyes of future buyers.

Good luck
The Eckler Team

Michael Saunders & Company
billeckler@michaelsaunders.com
941-408-5363

Fulton check the rest of the home it may be universal design. These are homes that can be used or easily modified to accomidate someone with handicaps. If that is the case it may be a big plus at resale time or if you become disabled and need to modify the home to fit your future needs.

Greetings,
You are going to be best served by asking these elevator questions to an elevator installer. Your question is two fold. How much is it? and Is it worth it?

Contacting an elevator installation company should satisfy your need to know the expense. They should also be able to guide you with regards to the maintenace requirements of an elevator. You will then be able to decide whether or not the idea is as fabulous as the reality of it all.

Good Luck,