In earlier times, elevators found in private homes were considered as a luxury because they were mostly found in residences with high ceilings or in mansions. In short, only the rich could afford elevators at home.
Nowadays, however, elevators at home have become more than an amenity. The platform which raises individuals, supplies, appliances or equipment to a higher level is now seen as a necessity. More people--ranging from couples with kids, busy individuals who abhor using the stairs, and senior citizens and those with disabilities--are becoming interested in having it installed right inside their homes.
Elevators are generally classified into three:
1. Hydraulic - This type of elevator is operated using a machine and therefore requires a lot of space as well as a machine room to hold the mechanics of the lift.
2. Traction - Also known as a machine room-less (MRL) elevator, it slides up and down a track through a counterweight. Although it does not need a separate room, a shaft and a space on top of it is needed to keep the machinery.
3. Pneumatic - The car of this type of elevator is moved up and down through air pressure coming out of a polycarbonate tube with a separate internal tube. This one is ideal for existing houses or for retrofit, as the tube can be installed even without a shaft or a machinery room.
The standard hydraulic and MRL elevators are more expensive than the pneumatic, costing from $23,000 to $57,000 including installation. Apart from labor costs, an actual elevator may have a price of $17,500 to $35,000 or more. This includes the wires, HIVAC, outlets, plumbing, steel framework, panels and other finishes.
F. Ron Smith, founding partner of Partners Trust in Los Angeles, says that real estate professionals should market homes with elevators as a convenience for people of all ages and mobility levels.
Elevators can turn out to be an asset for the professional's listings, if presented in the right light. Having an elevator in an existing house or having it newly constructed is definitely not cheap, but it will sure add value to the property and buyers will also be able to maximize the use of their home in the years to come.
