How much it will cost you to have an elevator installed in your home will be based on several factors. While many believe that only the wealthy can afford the luxury of a home elevator, it is much more affordable than you think. Many people are installing elevators in their home for luxury, to increase property value, and to increase mobility.

So what will it cost me?

Depending on the drive system, size, and optional features, having a home elevator installed will run you anywhere from $15,000 up to $100,000. For many, you should expect to pay around $30,000 after installation, or about the same price as a new car. Just like with cars, the more extras you add the higher the price will be. Choosing custom sizes, custom colors, emergency phone, and other optional features, will increase the final price.

What are my options?

When looking for the right elevator for your home, you need to think about how you will be using it and what time of drive system you need. There are three main types of drive systems for home elevators; pneumatic, hydraulic, and cable driven.

Pneumatic – If you are planning on using your home elevator for trips to the basement to get the laundry, a smaller pneumatic elevator would be perfect. Pneumatic elevators are the most affordable type of home elevator because they require no pit or machine room and use very little electricity. They use a pneumatic vacuum system to move the elevator cab between floors. They are perfect for smaller homes where space is limited.

Hydraulic – However, if you use a wheelchair and plan to use your elevator to travel to several different floors, a larger hydraulic elevator would suit you better. Hydraulic elevators are the most expensive type of home elevator because they do require a pit and sometimes a machine room. They are quiet, smooth, and are considered the safest type of elevator. They are perfect for larger homes where a bigger cab is needed for traveling between several floors.

Cable Driven – The last time of drive system is cable driven. They use a small motor, counterbalance, and track to carry the elevator cab between floors. This type of home elevator is popular with people who want to save on energy costs because there are many “green” models that use very little electricity. They are more expensive than pneumatic elevator but generally cheaper than hydraulic.

So for around the same price of a new car you can have the convenience and luxury of an elevator in your home. Just like a car, a home elevator is an investment and there are different models to accommodate for your budget.

The first reference to an elevator was actually in the mid-200s BC. Some of the first findings of elevators were cabs on a hemp rope that were powered by hand or by animals. We have come a long when since then. Elevators are now common and some people even have them in their homes. So how did the elevators we know today come to be?

Early Elevators

Elevators really started to take shape back in the mid-19th century. They were used in coal mines to move goods in bulk and operated with steam power. In 1823, an “ascending room” was built in London as a tourist attraction. They were able to elevate paying customers to a panoramic view of the city. 12 years later, a belt driven elevator with a counterweight called the “Teagle” was developed in England.

Elisha Otis

In 1852, Elisha Otis introduced the safety elevator. It prevented the fall of the cab if the cable broke. A governor device engages knurled rollers, locking the elevator to its guides if the elevator starts to descend at excessive speed. A very similar design is still used today. On March 23, 1857 the first Otis passenger elevator was installed at 488 Broadway in New York City. Today, the Otis Elevator Company is a part of United Technologies Corporation, the world’s largest manufacturer of vertical transport systems.

Advancement in the Elevator

The Equitable Life Building was completed in 1870 in New York City and was the first office building to feature passenger elevators. Ten years later in 1880, Werner von Siemens would invent the first electric elevator in Germany. The safety and speed of electric elevators would be significantly enhanced by Frank Sprague. He would add floor control, automatic elevators, acceleration control or cars, and safeties. Sprague’s electric elevator was able to run faster and with larger loads than hydraulic or steam elevators. He would later sell his elevator company to Otis in 1895.

The development of elevators was due to the need for movement of raw material like coal and lumber from hillsides. The technology that was developed from this need would provide the passenger and freight elevators that we use today.

The Otis Elevator Company is launching a new residential elevator called the Gen2 Switch. This new eco-friendly elevator eliminates the need for three phase power, can run off solar power, and uses battery technology to allow it to run even in a power outage. With the popularity of residential elevators increasing, the Gen2 should see a large market interested in it.

The Gen2 Switch green residential elevator builds upon the already ground-breaking Gen2 product line. The new residential elevator is easy to install, more sustainable, and safer during power failures or outages.

Simpler: The Gen2 Switch plugs into your basic electrical outlet. Once it is plugged in, the elevator has all the power it needs to run.

Sustainable: Just like the other Otis Gen2 elevators, the Switch uses flat-belts and ReGen drives. This makes the Switch up to 75-percent more energy efficient than other traditional home elevators. The Switch also requires 12 times less power from the power grid, in comparison to the standard Gen2 residential elevator. The system’s single phase technology is capable of drawing renewable power from resources such as solar panels and wind turbines.

Safer: Having a rechargeable battery means never being stuck inside your residential elevator in the event of a power failure or outage. So whether you are in a wheelchair or just bringing up groceries, there is no fear of being stuck inside due to a loss of power.

Many people are installing residential elevators to help make everyday tasks more convenient or to increase mobility for those with a physical limitation. At the same time, people are looking for ways to be more energy efficient and keep their energy bills down. The Gen2 Switch does both by allowing anyone to confidently and independently reach every floor of their home while using far less energy than other residential elevators.

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As people get older, mobility issues can make simple tasks in your home a strain. Things as easy as walking up the front stairs to the door or going up and down the stairs inside your home can become a difficult task for the elderly or someone with physical limitations. Being able to stay independent at home will improve your quality of life, and there are a few things you can do to increase your mobility.

Homeowners with limited ability have several options when looking to increase mobility both inside and outside of their home, these options include:

Stair Lifts. Installing a stair lift in your home is simple, affordable, and practical. Anyone who has trouble with walking up and down stairs can benefit from them. They can be made to fit any staircase, use very little electricity, and fold up when not in use. Most stair lifts use a straight track to travel the staircase, but when a turn is involved, a custom curved track can be made. They run off a rechargeable battery that plugs into a normal wall outlet. This makes stair lifts have a low cost of ownership. When you aren’t using your stair lift, you can fold it up so the stairway is not hindered. There are also models for both indoors and outdoors.

Wheelchair Lifts. Wheelchair lifts are a great for someone who uses a wheelchair to get up and down the stairs. With models that can be used indoors or outdoors, wheelchair lifts make any stairs accessible. Some wheelchair lifts work like open elevators and lift you straight up. Others have a track and platform that carry you between floors. The models with platforms are great, because they can fold up like a stair lift. Having the freedom to travel anywhere in your home without ever leaving your wheelchair makes a wheelchair lift a priceless investment.

Home elevators. Home elevators are the most expensive option, but also have many upsides. They will add value to your home and can travel several floors. The demand for home elevators has increased, and this increases the value of a home that has one. Home elevators also have the ability to travel up and down several floors. New technology like pneumatic elevators can easily be installed into any home because they do not need a pit of machine room. They are self-standing and can be attached to a balcony or travel through a hole in the floor. They are also extremely energy efficient and require little maintenance. There are many models to choose from, and you can get one small enough for a single rider or large enough to fit someone in a wheelchair.

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Celebrities often have elevators in their homes because — well, they don’t own homes — they own mansions. When you own 15,000-plus square foot mansions like Michael Jackson did, it isn’t surprising that there would be an elevator inside. However, with people staying in their homes even in old age and families staying super busy, residential elevators are becoming more and more common.

Many people want to grow old in their homes and want to avoid having to go to assisted living. One of the reasons people leave their homes is they have trouble getting up and down the stairs. Being unable to live independently anymore forces people to leave their homes. By installing a residential elevator, those people will have no problem reaching any area of their home. Their bedroom, bathroom, and other rooms on higher floors will now be available to them at the touch of a button.

Families are getting larger and bigger these days. Picking up the kids from practice, carrying the groceries in, and taking care of the pets can be tasking on your body. With a home elevator, you can easily take the groceries up to the kitchen or bring the laundry down to the basement. The convenience that an elevator in your home provides is enough to make it worth the price tag.

You would think that getting an elevator installed in your home would break the bank, but it is far more inexpensive than you might think. For about the same price of a new car, you can have a residential elevator installed into your home. There are many energy-efficient models and elevators that do not require a machine room. When there is no machine room needed, you will drastically cut down on the installation cost. Pneumatic elevators are a great option for home use. They require no machine room, they are energy efficient, and their cylindrical shape allows them to be installed almost anywhere.

In Los Angeles alone, 93 permits for home elevators were issued in 2012. Also, a recent survey by the National Association of Home Builders found that 25 percent of homeowners listed elevators as a desirable or essential feature, up from eight percent in 2001. With the cost not being too high and the benefits being so great, more people are deciding to install elevators in their homes.

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