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How much does a home lift cost? 5 factors influencing the residential elevator price
Blog article
The price of a home lift is influenced by many different factors. In this article, we will focus on 5 of the most important factors and explain how they impact the total cost of a residential elevator.
Key factors that impact home lift price
1. How lift technology influences the home elevator price
Your choice of lift technology has a big influence on the total cost. That is not only due to the price of the technology itself. Some lift technologies need a lot of space above and beneath the elevator and therefore require expensive building work to make the lift fit into your home. In addition, the maintenance costs are important to consider.
Image: Illustration comparing the space-efficiency of screw-driven, hydraulic and traction lifts.
Why are some home elevator technologies less expensive?
Home elevator technologies differ in price, and some are less expensive than others. Essentially, that comes down to factors like technical complexity, travel speed and building impact.
Technical complexity: Traction lifts need complicated mechanics, like steel ropes, driving sheaves and counterweights to work and that makes the technology expensive, both to buy and to install. Hydraulic technology is also quite complex, as the home lift requires a pump system and a hydraulic tank. Despite their complexity, hydraulic elevators can have a comparatively low purchase price. However, they also contain components that wear out fast, often resulting in expensive maintenance and repairs. Screw-driven lift technology, on the other hand, is the least complex, but not the least expensive as the lifts are delivered in complete, ready-made kits. However, it is also thanks to the fact that screw-driven lifts come in ready-made kits that their building and installation costs are much lower than for traction and hydraulic lifts. In addition, screw-driven technology is robust and reliable and has comparatively low maintenance costs.
Travel speed: As a rule of thumb, the faster a lift can travel, the more it costs. Hydraulic and traction elevators can travel faster than screw-driven lifts and that can be an advantage. But while high speed is important for comfortable travel in high-rise buildings, it is rarely essential for a home with 2-4 floors.
Building impact: The forces generated by a fast-moving elevator put a lot of strain on the structure of your home. That is why fast lifts require a deep pit, a big concrete shaftway and plenty of overhead space, resulting in expensive building work. Low-speed elevators, such as screw-driven lifts, on the other hand, have a smaller structural impact on your home and consequently need fewer site preparations and less building work.
Quick overview of different residential lift systems
All lift systems have benefits and drawbacks. The table below provides a quick overview of some key characteristics of screw-driven, hydraulic and traction home elevator systems to help guide your choice:
| Characteristics | Screw-driven | Hydraulic | Traction |
| Speed | 0.15 m/s | 0.3-0.6 m/s | 1-2 m/s |
| Space efficiency | Excellent | Average | Poor |
| Building work | Minimal | Moderate | Extensive |
| Installation time | 2-5 days | 3-10 days | 1-3 weeks |
What is the best lift technology for a home lift?
Your choice of lift technology should always be based on your requirements and needs. If you need a fast lift, you should get one. However, a 2-4-storey house generally does not require a large high-speed home elevator to provide comfortable access to all floors. In many cases, a compact low-speed alternative, like a screw-driven lift, is more than enough.
2. How lift design affects the cost of a residential elevator
In essence, an elaborate, bespoke lift design is more expensive than a simple, standard one. However, it is often worth to pay a bit more to get the design you really want. As your lift will be a part of your home for many years to come, it is important that it fits your interior design and fulfils your needs for comfort.
Examples of design choices that influence the lift price:
- Colour choices: Optional colours are more expensive than standard colours.
- Material choices: Glass elements and bespoke materials usually add cost.
- Accessories: The more accessories you add, the higher the price.
3. Why the number of floors of your house increases the lift price
There is a direct correlation between the number of floors of your home and the lift price. To put it in a nutshell, the more floors your home elevator needs to serve, the more expensive it becomes. There are 3 main reasons for this:
- Height of lift shaft: A high hoistway or modular shaft costs more than a low one.
- Number of doors: Every floor has at least one lift door and every door adds cost.
- Installation time: A tall lift takes longer to install and has a higher labour cost.
4. How lift installation impacts the lift price
The cost of installing your home lift has a considerable impact on the total purchase price. The most important factors influencing the cost of elevator installation are building impact, site preparation and installation time, and they differ greatly between lift types:
| Factors | Screw-driven | Hydraulic | Traction |
| Building impact | Low | Medium | High |
| Site preparation | Minimal | Average | Extensive |
| Installation time | 2-5 days | 3-10 days | 1-3 weeks |
Image: Cibes screw-driven lifts are delivered in ready-made elements and designed to have minimal structural impact on your home.
5. How lift maintenance can save you money
As lift maintenance is a running cost that you will pay for during the entire lifetime of your lift, making smart and educated choices to reduce this cost can save you a lot of money. Different lift types have different maintenance needs, and the table below gives you a good overview:
| Factors | Screw-driven | Hydraulic | Traction |
| Service frequency | 1-3 visits /year | 2-4 visits /year | 4-6 visits/year |
| System reliability | High | Average | High |
| Wear and tear | Low | High | Low |
| Total cost | Low | High | Average |
Note: The service frequency in the table above is an estimation based on residential lifts used up to 15 times per day. It does not take more frequent use or national legislation into account.
How much does lift maintenance cost?
There is no easy answer to this question, but the maintenance cost essentially depends on your choice of elevator technology and how often you use your residential lift. The service frequency of your lift has a big impact on the fixed cost stated in your maintenance contract. But that is not all that matters. The total cost should also take system reliability and wear and tear into account, as these factors may result in urgent interventions and repairs that are usually not included in your contract.
Hydraulic home elevators are sensitive to temperature changes and contain components that suffer a lot of wear and tear. That increases the risk of urgent interventions and repairs that are not covered by most maintenance contracts. Therefore, hydraulic lifts generally have a higher maintenance cost over time than more robust and stable systems, like traction elevators and screw-driven lifts.
Tip: Ask about maintenance costs when you request your lift quotations. Explain how often you will use your home elevator, and the lift companies should be able to give you an idea about the cost so you can compare.
Why is elevator maintenance important?
It is important to understand that elevator maintenance is crucial to ensure the safety of your family. In some countries, it is considered so important that you are legally required to sign a maintenance contract. But regardless of legal obligations, signing an elevator maintenance contract is always a good idea, as it not only keeps you safe and ensure that your lift runs properly but helps prevent breakdowns and expensive repairs.
To conclude
There are many different factors that determine the total cost of a home lift. Most can be controlled by your choices, and some are determined by other things, like the layout of your home.
How much you are willing to pay is of course entirely up to you. The most important thing to remember is that a home lift is a smart, long-term investment. Therefore, your main priority should be to get an elevator that suits your home and your needs, regardless of cost. To get additional hands-on advice, we recommend you to visit our home lift price page.
Do you want to go through your home lift options together with a lift professional? Just get in touch with us through the contact form below.
Looking for a home lift? We would love to help.
Written by
Johanna AawCopywriter & Content Marketing Specialist , Author
