There are different types and sizes of elevators available, which will also affect the cost of installation. There are three different options to choose from, including two
Hydraulic and pneumatic elevators are the most common types installed in residential applications. The latter is much easier to install and can cost as much as $20,000 less than hydraulic elevators, which have a high average price range of around $50,000. Residential building codes limit sizing to 18 square feet for in-home elevator installation. For hydraulic elevators, this means you would need to be able to block off a five-square foot area for the unit to be built into the home.
While they are more affordable, pneumatic elevators aren’t built into the home. They are placed in an open area that is accessible, but they also usually only take up about a three-foot by four-foot space. There are larger models available, and these elevators often have weight limits of up to 500 pounds.
The cheapest and easiest way to install an elevator in the home is to do it during the initial construction process. This allows for the ideal placement of the shaft and provides more options for fitting the unit into the home. The biggest expense associated with retrofitting an elevator into an existing home is the amount of labor involved to make a space for it.
Hydraulic elevator installation: mid-range elevator model, either new construction or retrofitted in existing construction
Pneumatic elevator installation: mid-range elevator model.
Cable-driven elevator installation: mid-range elevator model, new construction.
Other considerations and costs
- If excessive demolition, construction, or other retrofitting is required, the cost of hydraulic installations could easily go up to $100,000.
- Permit fees, inspections, and taxes are not included in this estimate.
- Shaftless elevator models will require much less additional construction or installation, making them more affordable.
- Installing an elevator in the home is not a cheap job. It is also not one that is suitable for DIY projects, as it requires meeting strict building codes and proper installation for safe and effective use.
- Craftsman Estimator Costbook, complete series year 2019.
- Latest prices found on Home Depot and other vendor Web sites.
- Literature review of DIY Web sites.