The fact that a property features an in-home elevator doesn’t necessarily mean it is a fabulous mansion spreading across several stories. Nor does it mean that disabled people are living on that property and they need an elevator to get to the upper floors.
It is also true that luxury and necessity are two good reasons why people may want to add an elevator to their homes. Nevertheless, you may consider adding an in-home elevator simply to make your building safer and more functional. Such a feature can also add to the market value of your home. Let’s see some of the main benefits of adding a residential royal lift to your home.
An In-Home Elevator Can Increase The Market Value Of Your Property
The day may come when you’ll want to sell your property. You’ll surely hope to sell your home for more than you paid for it in the first place. The market value of a property may increase over time thanks to various parameters such as the inflation rate and the evolution of the real estate market. Also, the various improvements you may have added over time may lead to an opportunity to sell your home for a higher price.
Would installing an elevator add value to your home? Chances are it will. If you want to know for sure whether this elevator would add value to your house, you’ll need to hire an appraiser to determine the potential market value of your property following this improvement. The appraiser will assess the condition of your property, the different features you may have added over time, and the real estate market in your area. This expert will also check whether your property violates any safety regulations or building codes.
Furthermore, an appraiser can do a feasibility study to estimate the value of your property in the event of adding various features or making improvements such as installing an elevator or a pool. Next, you can compare the potential market value of your home to the cost of adding an elevator to see whether it is worth the trouble. If it pays off, there’s no reason why you wouldn’t go for it, provided that you can afford it.
Home Elevators Make Your Life Easier
A residential elevator enables you to move between floors much easier. Also, moving heavy objects, storage boxes, grocery bags and various furniture items becomes much easier. Just think about dragging a heavy vacuum cleaner on the stairs and see if it wouldn’t be more convenient to use an elevator instead. There are lots of situations when an elevator can simplify various tasks and make your life easier.
Some people have a hard time climbing stairs. They may suffer from medical conditions that restrict their ability to move freely and without pain or they may simply be concerned about tripping and falling. Elderly people may struggle on the stairs, so they may eventually end up not leaving their bedroom as often as they would like. Installing an elevator can help you provide a safe living environment to your family members, for them to be able to move around the house without restrictions.