In Shifting Housing Market, a Home Elevator Adds Value

glass elevatorIf you’re looking for ways to add value to your home and give yourself a competitive edge in the market — one that will likely be dominated by families caring for older loved ones — consider installing a home elevator.

Though it may seem like a luxury item, a home elevator is a wise investment. According to this USA Today article, roughly 3.5 million American households are comprised of parents and adult children—a number that will continue to climb as the population grows older. Aging in place-related home modifications place are also increasing in popularity, with 62% of builders working on these projects in 2010; this video from MSN Real Estate shows the opportunities that lie ahead for the recovering housing market.

No one knows what their caregiving future holds, but when mobility becomes a challenge — either for the parent or adult child: think knee replacement surgery — a home elevator will be worth its weight in gold.

A few things to know about home elevators…

A residential elevator travels to multiple floors and can be upgraded with trim, wood paneling, or paint, unlike alternative mobility solutions. Most elevators require the construction of a shaft (hoist away) to operate. A traditional elevator shaft requires a minimum 6-inch deep pit. In existing homes, this construction can be costly, time-consuming, and disruptive.

To avoid the construction of a hoist away and pit, a pneumatic vacuum elevator (PVE) is an ideal addition to any home. A PVE operates like the elevators used by everyone’s favorite futuristic cartoon family, The Jetsons. Using a pneumatic vacuum elevator does not require a pit or hoist away, though it’s a bit more expensive than a traditional home elevator. Some homeowners find the cost balances out since very little construction is involved in installing one.

Source: Joseph Gray, 101 Mobility®’s Corporate Product Training Manager

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