So, You Want to Get an Elevator …

Homeelevators are becoming more popular in the last few decades.  Historically, a residential elevator was onlyfound in the upscale homes of the wealthy However, this is no longer the case.Of course, for those who have mobility issues or use a wheelchair having a homeelevator gives access to all floors of their home.  However, more homeowners are consideringinstalling elevators, especially when building multi-story dwellings. Homeelevators have become more mainstream. 

Regardlessof the reason, one of the first questions, when a client is looking at a homeelevator is, “how much will it cost?” It’s not easy to give an outright answerto that question. There are so many aspects to consider, and each has an impacton the overall cost of the unit. Every residential elevator is customized tomeet the requirements of the home and the client. 

Variousfactors impact the price:

  • Isthe elevator being installed in new construction or is being retrofitted intoan existing residence? Installation costs vary depending on when and how theunit is being put in. On average, installation costs between $5000 to $10,000.
  • Whatis the capacity of the elevator, and how many floors will it service? Someunits need to carry more than two people. Other systems might have four stopsthroughout the home.
  • Whatkind of options does the client want? How is the cab outfitted? What kind offinishings are used? What kind of style matches their décor?  Options can vary the price between $1000 to$20,000.
  • Willthe doors be automatic or manual?
  • Whatstyle of elevator is being purchased? Home elevators can vary from unfinished platforms to fully decked outluxury boxes.
  • Whatpowers the elevator?  Is it pneumatic,hydraulic, cabled, or a vacuum?
  • Otherfeatures that increase the price include alarm systems, phone connection,electromechanical interlock system, emergency lights and battery backups.

In Canada,there is no central body that monitors the installation or maintenance ofelevators.  No licenses are required forhome elevators like there are for commercial units.  However, the home elevator must meet safetystandards set by the National Safety Codes for Elevator Safety.  Building permits will depend on themunicipality or province in which the home is located.

The pricesfrom different sources vary a great deal. One organization claims that an average price for a residential elevatorbefore installation is around $15,000. Still, premium models can stretch over$30,000. While another source states that the average cost of installing a homeelevator can range from $25,000 to $45,000. Obviously, a residential elevatoris a big-ticket item. However, for those paying beyond 1 million dollars for amulti-storey home, an additional $20,000 to $50,000 is not that much of astretch.  When considering the cost, onemust consider the value.  A home elevatoradds at least 10% to the value of the residence.  Also, the reason for the purchase may have animpact.   If the elevator was installedfor medical purposes, there might be a tax deduction based on the cost of thehome elevator. One other consideration is the ongoing cost of maintenance.Ensure this expensive investment continues to run optimally.  Regular maintenance is a crucial factor. 

If you areinterested in getting additional information or would like a quote for yourCalgary and area home, give Ascension Elevators a call.This month, we are offering free plans and proposals.  Contact us at 587-978-7136 or email at info@ascensionelevators.com. Anyof our specialists will book a time to discuss your requirements anddesires.  We will present design options,explain the power mechanisms and propose a project plan from installation tofollow up maintenance packages.