Many home products provide immense practical benefit while also potentially raising property value in the process, and one great example here is a residential elevator. While such elevators are typically added to homes with specific needs in mind, such as improving access for anyone who may require it, their secondary benefits in terms of added property value should not be overlooked.

At A+ Elevators & Lifts, we’re happy to offer the widest range of home elevators available for clients in SLC, Boise, Reno, Cheyenne and many nearby cities. Here are some of the ways home elevators add to property value, plus some tips if you’re considering this important area for an upcoming elevator installation.

Accessibility Has Major Value in Real Estate

First and foremost, a home elevator increases accessibility, which is a major selling point for many homebuyers with specific mobility needs or who simply want added convenience. More and more homebuyers today are seeking ‘universal design’ features that accommodate people of all abilities, so a residential elevator can be a significant draw.

For instance, if you’re selling a multi-level home, an elevator system allows interested buyers with limited mobility to easily access all floors, which can increase your potential buyer pool and potentially speed up the selling process.

Aging In Place is Much Easier

A significant subset of the real estate market today is made up of older buyers looking to ‘age in place’ in their homes, meaning they want to remain comfortably and safely in their homes as they get older. For many seniors, stairs eventually become difficult or impossible to navigate, so an elevator system allows them to comfortably stay in a multi-level home.

This major convenience is a selling point that shouldn’t be overlooked. It’s often worth the investment to install an elevator if you’re planning to stay in your home long-term or sell to older buyers.

A Fraction of the Space of a Stairwell

Another key benefit of a home elevator is that it takes up a fraction of the space of a traditional stairwell. This means that more living space is freed up, which is especially valuable in smaller homes or those with limited square footage. The minimal footprint of an elevator shaft and car is a major space-saving advantage.

When planning an elevator installation, be sure to choose a model that fits your home’s dimensions, and place the shaft in a spot that minimizes its impact on your floor plan. With some careful planning, you can gain back a significant amount of functional living space.

Luxury and Appeal Are Also Enhanced

Beyond accessibility, a home elevator also adds a sense of luxury, style, and modern appeal to any home. The sleek, high-tech design of today’s home elevators gives an upscale impression and can make a property far more distinctive and impressive. This kind of special feature tends to attract interest and potentially higher offers when it comes time to sell.

For example, glass elevator cars or unique wood-paneled interiors create an eye-catching design element that gives your home extra flair. When choosing an elevator, think about how its style and appearance may enhance your home’s character and value.

Limited Maintenance Required

Another factor that adds value is the fact that today’s home elevators are designed to require minimal maintenance or service. The latest models are extremely durable and reliable, with limited moving parts that rarely need attention. This means lower long-term costs and less hassle for homeowners, which is appealing for resale as well as personal use.

Be sure any elevator company you work with offers strong warranties and service so you have support if needed. But in general, a home elevator can provide many years of convenient use with limited maintenance required.

Choose the Right Features and Finishes

To maximize the value of a home elevator, it’s important to choose high-quality components and finishes. Smooth, quiet operation, safety features, attractive cab designs, and other premium elements will make the greatest impact. It’s also helpful to choose an elevator size and capacity suitable for your home and needs.

You should also be thinking about installation from a reputable company that will ensure proper function, safety, and longevity. When an elevator is installed professionally and uses premium parts, it holds its value and appeal far longer, which benefits both you and any future owners of your home.

As you can see, a residential elevator offers numerous practical and financial benefits, from convenience and accessibility to added property value and luxury appeal. While an investment, for many homeowners, an elevator can be well worth the cost.

For more here, or to learn about any of our residential elevators, wheelchair lifts or other accessibility products for clients around Boise, SLC, Cheyenne, Reno and nearby areas, speak to our team at A+ Elevators & Lifts today.