Purchasing and installing a residential elevator can appear, at first glance, to be a sizeable investment, both in space and in money. That’s fair because it’s true: Owning an elevator and having it installed takes time, resources and space. If you’re going to invest in something, you want to be sure it will be worth it. One of the essential aspects of any purchase is its return on investment. For residential elevators, that return comes in many forms and makes the initial expense well worth it for most families and individuals.
Home Elevators Can Restore Lost Mobility
Mobility is a struggle for many people, especially for older adults. It is the most common disability type in the United States. Of those with a disability in the U.S, 13.7% have a mobility challenge, meaning they have serious difficulty walking or climbing stairs. Limited mobility can be due to age or issues such as cerebral palsy, multiple sclerosis, muscular dystrophy or spinal cord injury.
Limited mobility may not always be a certainty, but it’s an eventuality that many have to consider when they plan for their futures. In addition to lifelong mobility disabilities and progressing mobility issues associated with aging, some people unexpectedly lose their mobility due to an injury. Many of us take our ability to move for granted, and it is only when we suffer an injury or a similar circumstance that immobilizes us for a time that we truly understand how difficult it can be to navigate our homes. These times can serve as an excellent wake-up call to prepare for the future when mobility may once again be a struggle.
Whether your challenges with mobility are temporary or ongoing, having a home elevator can make all the difference. Whatever the reason for your lost freedom of movement, a residential elevator can offer much-needed accessibility, so you can stay in your home and not have to confine yourself to only one floor. Many individuals or couples who decide to age in place find that one of their most significant hesitations is to stay in a multi-storied home they can no longer access due to physical limitations. By installing a residential elevator, they can continue enjoying their entire home.
Residential Elevators Are a Cost-Effective Option
The only reason more homes don’t have elevators is that they can be costly. In the past, you might only have expected to see elevators for homes when visiting luxury estates. However, today, many people — not just wealthier homeowners — are weighing the cost of adding a home elevator and finding that the accessibility it affords is well worth it. If you’re concerned about the price of a residential elevator, it’s helpful to consider that this option is drastically less expensive than an assisted living or retirement community.
Of course, assisted living and retirement community packages include a lot, but if your primary struggle is mobility, you may find the addition of a home lift to be the more financially sound option. According to research compiled by SeniorHomes.com, in 2015, the monthly median costs for independent living ranged from $1,709 to $3,777. For the price of one year living in a retirement community or assisted living, you could afford some version of a residential elevator — and that’s a one-time cost rather than a recurring one.
When you’re planning for a loved one’s care or yours as you age, consider what degree of assistance and change is necessary. Many people prefer to maintain as much of their current lifestyle as possible. Choosing assisted living or a senior retirement community might include a lot of amenities and services you might not need or want that you’ll most likely end up paying for regardless. That only adds to the overall, recurring cost of those options.
Even if assisted living becomes a necessity down the road, a home elevator may be enough to allow you or a loved one to stay at home for the time being. It’s not easy to put a price on the value of getting to enjoy independence in one’s home for as long as possible, but even when you do the math, a home elevator can be the most economical option.
Residential Elevators Are Helpful for Every Stage of Life
It’s essential to note that home elevators are not just for the elderly or those with a disability. Having a more comfortable way to traverse the floors in your home is convenient at every stage of life, even if mobility is not a struggle for you or members of your family.
Families can benefit from a home elevator by using it to move furniture, belongings or even groceries around. It eliminates the need to carry bulky or heavy things up and down the stairs, which means your family is less likely to fall or hurt themselves in the process.
A residential elevator is easily one of those investments you’ll be able to enjoy throughout multiple stages of your life. Expectant or new mothers may wish to avoid stairs, making a home elevator a major asset. A new parent could use their home elevator to easily carry a child to their room without disturbing them. Teens could load the elevator up with sleepover gear and make their getaway without having to take more than one trip up and down the stairs. A visiting grandparent could take the elevator instead of the stairs if they have trouble with their mobility.
Adding a Home Elevator Increases Your Home’s Resale Value
Some people may not want to install a home elevator with their future mobility and comfort in mind if they think they may move before a home elevator becomes a necessity. Even if you plan to move, though, installing a home elevator now is a smart decision.
If you are thinking of possibly selling your home down the road, installing a home elevator now will allow you to reap the benefits for as long as you live there and will increase your home’s resale value. With proper elevator maintenance, your lift will last and continue to be an asset to your home for decades to come. When it comes time to sell, your real estate agent will be pleased to highlight the fact that your home has a residential elevator to any prospective buyers. With more baby boomers reaching retirement and wanting to age in place, homes with elevators are becoming increasingly desirable.
Are home elevators worth it? These conveniences are not only valuable to the elderly or people with disabilities. Indeed, 25% of homeowners surveyed by the National Association of Home Builders said that elevators are a desirable or essential feature for a home. In 2001, that number was just 8%, so residential elevators are becoming an increasingly sought-after amenity among homeowners. The National Association of Realtors® recognizes this rising trend and points out that a home elevator is, at least, a desirable amenity — and for some, a necessity.
A Residential Elevator Is a Perfect Addition to Renovation Plans
If you’ve been considering installing a home elevator for a while, there is no better time than when you are planning other home improvements. Especially for extensive renovation projects in your home, adding a home elevator to your plans is an excellent idea.
For example, if you’re renovating your kitchen, why not include a dumbwaiter, as well as a home elevator, in your plans? A dumbwaiter can help you transport objects from floor to floor more easily. If you’re making changes to your home’s floorplan, ask your contractor to determine the best place for a home elevator in your plans.
Some homeowners may resist having an elevator installed because of the disruption a construction project can cause in their home. If this is the case for you, consider what other projects you have been putting off and combine these plans with your home elevator installation. Don’t wait to fully enjoy your home.
In some cases, you may find yourself suddenly needing to make changes to your home to make it more accessible for yourself or a family member moving in. If you need to make your house wheelchair-accessible, for instance, you may need to expand doorways and make other changes. While you have this work done to your home’s interior, you should consider also having a home elevator installed to enhance your home’s accessibility.
A Home Elevator Affords You Peace of Mind
Finally, home elevators are worth the investment because of the serenity they enable. If your home is multi-story, you’ve probably thought about what you will do in the future if ascending and descending the stairs becomes a problem for you, your spouse or other members of your family. You may have worried about having to leave the home you love someday.
If you are in the market for a home as an older adult, even if you are currently fully mobile, your children or others may have urged you to choose a single-story home. No one wants to worry about what they will do in the future if parts of their home are no longer accessible due to mobility problems.
You can choose to purchase or stay in a multi-story home without worrying about the future when you add a home elevator. Installing a residential elevator allows you to enjoy more convenience and accessibility now, and can make the difference in allowing you to stay in your home if you begin to develop mobility issues later in life. Having a home elevator can ease your and your family’s minds because you know you’ve been planning for the future.
Find an Inclinator Dealer Near You
As we’ve seen, there is never a time you won’t be able to put a lift to good use. Do you have a child with a mobility disability? Do you want to grow old in your home? Would you prefer to keep the memories you’ve made in the same place you created them, no matter your age or impairment? Do you want to increase your home’s value? If your answer to any of those questions is yes, getting a home elevator is worth the investment.
At Inclinator, we understand the life-changing difference home elevators can make for people. Adding an elevator to your home can be the solution that turns your home into a more comfortable and convenient place for you, your family and guests to get around. Inclinator is a trusted source for home elevators that are both functional and attractive. Find a dealer in your area to get started.