Home elevators are becoming more popular in the last few decades. Historically, a residential elevator was only found in the upscale homes of the wealthy However, this is no longer the case. Of course, for those who have mobility issues or use a wheelchair having a home elevator gives access to all floors of their home. However, more homeowners are considering installing elevators, especially when building multi-story dwellings. Home elevators have become more mainstream.
Regardless of the reason, one of the first questions, when a client is looking at a home elevator is, “how much will it cost?” It’s not easy to give an outright answer to that question. There are so many aspects to consider, and each has an impact on the overall cost of the unit. Every residential elevator is customized to meet the requirements of the home and the client.
Various factors impact the price:
- Is the elevator being installed in new construction or is being retrofitted into an existing residence? Installation costs vary depending on when and how the unit is being put in. On average, installation costs between $5000 to $10,000.
- What is the capacity of the elevator, and how many floors will it service? Some units need to carry more than two people. Other systems might have four stops throughout the home.
- What kind of options does the client want? How is the cab outfitted? What kind of finishings are used? What kind of style matches their décor? Options can vary the price between $1000 to $20,000.
- Will the doors be automatic or manual?
- What style of elevator is being purchased? Home elevators can vary from unfinished platforms to fully decked out luxury boxes.
- What powers the elevator? Is it pneumatic, hydraulic, cabled, or a vacuum?
- Other features that increase the price include alarm systems, phone connection, electromechanical interlock system, emergency lights and battery backups.
In Canada, there is no central body that monitors the installation or maintenance of elevators. No licenses are required for home elevators like there are for commercial units. However, the home elevator must meet safety standards set by the National Safety Codes for Elevator Safety. Building permits will depend on the municipality or province in which the home is located.
The prices from different sources vary a great deal. One organization claims that an average price for a residential elevator before installation is around $15,000. Still, premium models can stretch over $30,000. While another source states that the average cost of installing a home elevator can range from $25,000 to $45,000. Obviously, a residential elevator is a big-ticket item. However, for those paying beyond 1 million dollars for a multi-storey home, an additional $20,000 to $50,000 is not that much of a stretch. When considering the cost, one must consider the value. A home elevator adds at least 10% to the value of the residence. Also, the reason for the purchase may have an impact. If the elevator was installed for medical purposes, there might be a tax deduction based on the cost of the home elevator. One other consideration is the ongoing cost of maintenance. Ensure this expensive investment continues to run optimally. Regular maintenance is a crucial factor.
If you are interested in getting additional information or would like a quote for your Calgary and area home, give Ascension Elevators a call. This month, we are offering free plans and proposals. Contact us at 587-978-7136 or email at firstname.lastname@example.org. Any of our specialists will book a time to discuss your requirements and desires. We will present design options, explain the power mechanisms and propose a project plan from installation to follow up maintenance packages.