For Aging Homeowners, Elevators Give Luxury Properties a Major Lift

This copy is for your personal, non-commercial use only. Distribution and use of this material are governed by our Subscriber Agreement and by copyright law. For non-personal use or to order multiple copies, please contact Dow Jones Reprints at 1-800-843-0008 or visit www.djreprints.com.

https://www.wsj.com/articles/for-aging-homeowners-elevators-give-luxury-properties-a-major-lift-d236184f Hyrauliclift

For Aging Homeowners, Elevators Give Luxury Properties a Major Lift - WSJ

In 2020, Russell Franchi’s clients liked many features of a beach home in South Walton County, Fla., but it was missing one thing: an elevator. The clients, who had limited mobility, considered retrofitting an elevator, but ultimately walked away from the deal before finding a house that already had one installed. “We have a lot of baby boomers that are retiring, and it’s just something that a lot of clients looking for homes starting around $3 million think about, or have it high on their list,” said Mr. Franchi, a real-estate agent with Scenic Sotheby’s International Realty in Santa Rosa Beach, Fla.

Home elevators aren’t one-size-fits-all features. Kaitlind Meeks-Price, a sales representative of Delaware Elevator in Salisbury, Md., said that elevators are typically 3 feet by 4 feet, but she’s seen them go up to 15 square feet. A basic, three-stop elevator, including installation, typically starts around $32,000 to $35,000. When it comes to maintaining the lift, Ms. Meeks-Price suggests having it serviced at least once a year for the first five years. After that, it is best to have them serviced every three months. Maintenance typically costs around $800 to $1,600 annually.

Non-Standard Cargo Elevator This copy is for your personal, non-commercial use only. Distribution and use of this material are governed by our Subscriber Agreement and by copyright law. For non-personal use or to order multiple copies, please contact Dow Jones Reprints at 1-800-843-0008 or visit www.djreprints.com.

For Aging Homeowners, Elevators Give Luxury Properties a Major Lift - WSJ