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Average Cost of a Home Elevator

Average Cost of a Home Elevator

The average cost of a home elevator largely depends on the type of elevator to be installed, the number of stops required, and other accessories in the setup. The cost of the whole project generally comes between $10,000 to $40,000, if not more...
DecorDezine Staff
There are a variety of additions that can be done to a contemporary home. One of the latest additions is a home elevator, which can be installed considering luxury or a necessity for bigger houses. Whatever the reason, choosing the right type of elevator and other accessories can be confusing, since there are so many options nowadays. The best thing about incorporating a home elevator in your house is that it significantly raises the value of the property.
Technology
There are different types of elevators which work on several patterns; the most common ones being a roped-hydraulic, vacuum, a counter-weighted chain drive and a winding drum. Vacuum elevators are the most expensive types. For elevators on tracks, you would need to pay anywhere between $8,000 - $10,000. However, shaft-based cabs are more expensive with their price range being around $13,000 and $18,000. There are even options such as a hand rail or sliding gate, due to which the price can add up from $1000 to even $20,000. Costs of all these types vary as per company and installation settings.
Size and Build
The price also depends on the how big the car is. One that is 3 feet wide and 4 feet deep will cost lesser than the price of installing an elevator that's 3 feet wide and 5 feet deep. The material with which the car is made and the speed can also increase the cost. Another point is how many stops the elevator is set to make. If you have just two floors, the cost would be lower as compared to that of installing an elevator which has to stop at several points.
Features
Owing to the luxury or necessity factors, there is a wide range of features that can be availed in home elevators. One of the main features is the type of openings of the cabs. Floors can be accessible from different sides, which is why elevators should have openings on the respective sides. An elevator can have exits on one side, behind, or even at the sides. In addition to the main installation, you may also want to consider the cost for carpeting, mirrors, chandeliers, and other decorative accessories. Contemporary home elevators typically have features such as an alarm system, an electromechanical interlock system, emergency light, battery operation, and a phone connection.
Time of Installation
This is a factor that can have a huge effect on the overall cost of the project. If you opt for installation of a home elevator during the construction, the costs will normally be less, since it would come in the package. However, on the other hand, if you choose to get the installation done at any time other than the home's construction, the costs may raise substantially. The cost of installing a home elevator should be considered, owing to the fact that it increases the property value by around 10%.
These are the different determinants which usually have an impact on the average cost to install an elevator in the house. You can consider some reliable brands like American Crescent, Federal Elevator, Savaria Concord, ThyssenKrupp Access, and Matot. You can even install customized models from elevator companies as per your requirements. The cost can also go beyond $50,000, considering a top-notch luxury cab. Installing a home elevator is the best option to increase the house value and add to the convenience.