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How Does a Home Elevator Add to the Resale Value of a Home?

How Does a Home Elevator Add to the Resale Value of a Home?

Home ElevatorsAdding an elevator to your home can add to its appraisal value and potential resale price. It can not only increase the value of your home but can also provide you with a showpiece that will make your home more attractive to friends and family.

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When you install an elevator in a home, you are not only adding a great mobility aid, but you are also tacking on a tremendous amount of value to your home. Should you ever move, a home elevator is a nice feature that will add a great deal of resale value. Many people look for homes that have mobility aids already installed, and your home elevator design may be just the thing that will help them decide to buy.

An elevator can make your home more attractive to seniors or disabled buyers who would otherwise be considering single-level homes. Having an elevator for moving between floors means that the house will be more accessible for seniors or disabled residents or visitors. Improving mobility between floors for seniors and disabled people is the most common reason for installing a home elevator. When the house is sold, if it has an elevator it will be more attractive to seniors and disabled buyers, enlarging the pool of prospective buyers as well as the potential selling price.

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One professional real estate appraiser said, "People are thinking about what it does for the ultimate value of the home. It's less expensive than a renovated kitchen, and it will not go out of style or become inoperable. When you go to sell your home, you broaden its appeal."

A home elevator adds a sense of luxury to a home, even if it is not a luxury home in other ways. Elevator interiors can be jazzed up with the addition of mirrors, wood paneling, or benches, making the experience of using one even more of an adventure.

Home elevators can often be quite easily installed in an existing house without extensive renovation.

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