Last Updated on December 18, 2023 by Kravelv
Home lift installations are becoming increasingly popular lately, especially amongst the well-off. These are ideal for savvy homeowners who want a touch of functionality and sophistication without having to go out. Home lifts provide convenience and accessibility for homeowners.
With that kind of convenience, surely home lifts do come with a cost and that’s why it’s a go-to upgrade in wealthier homes. But don’t let that decide if you can have one in your own home. It’s crucial though that before you take on the challenge of having one installed for you, you need to grasp the costs.
So we thought, we’d break down the essentials including, of course, the costs and everything else you need to know to have one at home.
|Average Price (AUD)
|Size and Capacity
|$10,000 – $50,000
|$5,000 – $20,000
|Labor and Professional Fees
|$3,000 – $10,000
|Materials and Equipment
|$8,000 – $15,000
|Permitting and Inspection Fees
|$500 – $2,000
|Miscellaneous and Contingencies
Types of Home Lifts
Not every home can accommodate or even need a home lift. But to a home that does, it still depends on the type. Hydraulic, traction, and pneumatic lifts each have their advantages and drawbacks. Here’s a quick breakdown of each:
- Hydraulic: It operates on fluid pressure and is popular for its smooth ride but may require more space.
- Traction: Uses counterweights and is efficient for higher buildings but might be costlier.
- Pneumatic: Relies on air pressure and is known for its sleek design and energy efficiency.
Factors Influencing Installation Costs
Once you have researched which type fits your home and your taste, get to know the costs around the installation. The size and capacity of the lift play a significant role in determining that with prices ranging from $10,000 to $50,000.
Construction requirements and home modifications, ranging from $5,000 to $20,000, are influenced by the lift type and structural changes needed. Electrical and mechanical considerations, along with compliance with safety codes, further impact the overall cost.
Now, for more detailed planning, you also need to know what that whole budget goes to. First, labour costs and professional fees typically range from $3,000 to $10,000 and that varies based on the complexity of the installation.
Next, materials and equipment, including the lift itself, may cost between $8,000 and $15,000. And don’t forget permitting and inspection fees which are crucial for compliance and safety. This alone can add another $500 to $2,000 to the bill.
Apart from the main installation costs, it’s important to also consider ongoing expenses. If you want the lift to look even nicer then you have to allocate a budget for paint. As a general rule from commercial painters from Sonaa, remember that 1 litre of paint will cover about 6.5 m² in one coat.
From there, remember that paint and maintenance costs can vary, depending on the lift type and materials used. And then regular maintenance ensures the longevity of the lift and prevents unexpected breakdowns. It wouldn’t hurt to also have a contingency for potential overextension of the budget. Yes, it adds up in expenses but it safeguards against unforeseen challenges and allows for a smoother installation process.
Investing in a home lift or elevator can significantly enhance accessibility and convenience. Following the table we provided may not give the exact cost you’ll need for every project but it will give you at least a range of how much you’ll need to prepare. Make sure to also have plenty of options so you don’t feel caged with what you’ll pick as the lift of your choice.