Can the Cost of Installing an Elevator Increase the Value of a Home?
Homeowners are understanding more and more how important it is to add luxury amenities to their houses to increase the value of a home. If you ask any home improvement company, they will tell you that most people want a combination of beauty and function when they do renovations – all while also raising the resale value of the house.
Luxury features are becoming increasingly common in existing houses and are becoming more popular as people plan and build their ideal homes. These include elements for entertaining, such as outdoor kitchens and lounges, functional enhancements like smart home automation systems, and luxury appeal-and-accessibility enhancing features like double-entry doors and home elevators.
Technology has improved the home elevator installation process, so it’s more realistic for homeowners to include an elevator in their houses. However, having an elevator at home will definitely increase the value of a home. Why? An indoor elevator delivers convenience and comfort while moving around your house, and installing one increases your property value due to its attractiveness and usefulness.
Home Elevator Installation To increase the value of a home
Luxury upgrade
Residential elevators provide a luxurious experience within your home. For ultra-modern interiors, glass door elevators are available, while vintage-style elevators with metal scissors gates offer a retro appeal. They may be entirely customized to reflect the style and ambiance of your house.
Increased home value
Not only will a custom home elevator raise your property value, but it will also improve your family’s quality of life at home. The degree to which your property value grows depends on the size and type of elevator you choose as well as the value of your house before installation.
Practicality
Some houses have three or more stories. A home elevator system makes perfect sense when you consider trekking from the basement to the second or third level multiple times throughout the day.
When to Add a Home Elevator
Elevators in new home construction To increase the value of a home
Homeowners who want to install an elevator in their new, custom home should do so during the initial construction phase. Those building large homes are looking for ways to make interior space more comfortable and usable. Including a home elevator is a luxurious amenity that will benefit the family for many years.
Home remodeling projects To increase the value of a home
Although adding an elevator during the house’s initial construction is a smart option, many homeowners choose to add it later on. An elevator may be added during a remodeling project if you have an old home. Stacked closets are increasingly popular in modern structures, allowing you to add a traditional home elevator at a later date. In certain older properties, pitless and vacuum elevators provide an ideal alternative for reducing building needs.
Will an Elevator increase the value of a home?
A home elevator can boost the value of your house by 10% or more. And, if you choose to sell the property, you may certainly include the cost of your elevator installation as a way to make back the money spent.
However, it is more probable that the greater value of a residential elevator to a family isn’t financial, but rather that it adds more pleasure, comfort, and usefulness to the house by allowing friends, elderly parents, disabled persons, and guests to easily access the entire property.
Contact Us
Western Elevator offers a wide array of home elevators that are stylish and easy to install in BC. Not to mention, they will add significant value to your home- so much so that you will likely make back your entire initial investment if you sell the property in the future. Whether you’re building your dream house or trying to make your current one more accessible, we can help. Give us a call today!