From basic installations and products to upgrades and options, putting an elevator in your home may be more affordable than you think. There’s a lot that goes into installing a home elevator, from cabs and signal fixtures to pumping units and controllers. The final price tag for your elevator will vary with many factors, such as the type of elevator you’re installing, the size of your home, the quality of the materials and parts, and the region in which you live.
In general, traditional home elevators – not stair lifts – can cost between $22,000 and $80,000 and beyond depending on the bells and whistles you choose to add/include. A traditional residential elevator that serves two floors will cost you at least $22,000, with $10,000 tacked on to each floor after that.
The price can rise much higher than that if you add a custom cab finish or additional cab entrances. And generally, the hoist-way construction cost is an added cost and is usually double the cost of the elevator itself. So, for a two-stop traditional-style elevator, you can expect to spend around $60,000.
Installation and labor costs will also add to the cost. Labor costs can range from a low of $15,000 to a mid-range of $25,000 to a high end of $40,000. Labor costs will be higher with shaft and machine room elevators, as there may be a need to cut holes between your floors.
How Prices Vary
Prices will vary based on multiple overall factors including:
- Elevator type (pneumatic, cable drum, chain drive, hydraulic, traction)
- Number of floors
- Cab style and design (upgraded wood paneling, antique bronze handrails, custom floor finishes, steel construction car tops)
- Location of your home (some regions may charge more or require extra install work, such as electrical work or carpentry)
- Complexity of installation
- New construction vs. retrofit (it may cost more if you decide to add an elevator as a retrofit vs. at the time of home construction)
- Whether your elevator requires a shaft or machine room, or if that shaft will be hidden and where it will be located (i.e., it costs more to add an elevator onto the side of your house than it does to install one where closets are placed currently).
- Maintenance contracts you may choose after installation.
As you can see, there are many factors that come into play when determining the cost of your home elevator. It’s important to discuss your budget with your elevator installation contractor to ensure you’re on the same page and to keep costs under control.
Contact Mowrey Elevator
If you have questions about the specifics of your elevator project or want to get quotes on product costs, contact us today.