How Much Does a Home Elevator Cost

Residential elevators can greatly impact the lives of people with disabilities, allowing for greater independence and comfort within the home. Home elevator cost can be impacted by several factors, including the type of elevator, number of floors in your home, and whether or not your home has an existing elevator shaft. If you are considering installing an elevator in your home, check out this guide to find out what type of elevator you need and how much it will cost. 

How Much Does It Cost to Install an Elevator in a House?

Most often, the cost to install a home elevator is included in the elevator cost. When it comes to home elevators, you have four options. We've broken down the cost of home elevator options below.

Cable-Driven Elevator Cost

When you get on a commercial or home elevator, odds are it's cable-driven. That's because cable-driven elevators are the most common type of residential elevator. For that reason, they also tend to be less expensive elevator, costing homeowners up to $35,000. 

Chain-Driven Elevator Cost

Chain-driven elevators are similar to cable-driven elevators, but the chain portion makes them sturdier. Chain-driven elevators also require less space. The greater expertise required to build and install these home elevators means they cost roughly $20,000–$50,000.

Hydraulic Elevator Cost

Hydraulic elevators utilize the power of pressure, featuring a piston and a fluid-pumping cylinder. Unlike chain- and cable-driven elevators, this elevator doesn't need a machine room. Their advanced design will cost you up to $50,000. 

Pneumatic Vacuum Elevator Cost

Similar to hydraulic elevators, pneumatic vacuum elevators use vacuum pressure for power. These elevators are the easiest to add to a new home, but their modern design will cost $35,000 to $50,000.

Does an Elevator Add Value to a Home?

Often, people wonder if an elevator will add value to their home. Luckily, a home elevator not only makes a home more accessible to those with disabilities, but it can also add property value to a home. Depending on the type of elevator, and overall design, a home elevator can add thousands of dollars in property value to a home.

Additional Home Elevator Cost Factors

There are additional factors to consider when it comes to residential elevator cost. Before buying a home elevator, you’ll want to consider two things:

  1. How many floors does your home have: The number of stops an elevator needs to make will determine elevator cost. If your home has two stories, most standard elevators will work for you. The more stories you have, the more elevator stops you'll need, therefore, the more a residential elevator will cost. You can plan to add around $10,000 for each stop beyond the standard two, so a two-stop hydraulic elevator might cost you around $60,000. 

  2. Does your home already have an elevator shaft: If your home already has an elevator shaft, it will be much cheaper to install a home elevator. Why? Because retrofit elevators are much less expensive to construct than a brand new elevator shaft. Retrofitted elevators can cost as low as $20,000 while a new construction elevator may cost up to $80,000. 

  3. Elevator maintenance cost: Regular elevator maintenance will allow your home elevator to remain functional for years to come. Elevator maintenance costs an average of $200-500 per maintenance visit.

Home Elevators and Stair Lifts

Your home elevator cost will depend on the type of elevator, how many stops it needs to make, and whether your elevator will be custom built or retrofitted. If the cost of a home elevator is not something you’re ready to commit to, consider a stair lift. Stair lifts cost an average of $2,000-10,000, and can be installed in a variety of indoor and outdoor settings. They can even be used in pools.

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