Cost of an Elevator

Elevators are often installed inside a building to make it easy for people to go up and down several floors. Especially for high-rise buildings with many levels, staircases can be very inconvenient. Houses are also slowly putting up their own elevators, at times, purely for luxury and other times, for a medical need. When elevators are considered, the price is always in the forefront. The question is usually whether the owners can afford to buy one and have it installed in the house or building. Tall commercial buildings require elevators especially if the spaces will be offered for lease, commercially. Since there are a growing number of elevator manufacturers, the cost of elevators is getting more competitive.

Cost Considerations

When shopping for an elevator to be installed in your property, there are several considerations to bear in mind. First, you have to consider the type of elevator operation appropriate to your home or building. You can choose from hydraulic, pneumatic, electric or winding drum elevators. The distance is also important. Will your elevator be going up and down three floors for home elevators, or perhaps twelve floors for commercial elevators? Hydraulic elevators can travel a greater distance while vacuum elevators only go up to four levels. The weight capacity and size requirements should also be evaluated. Installation requirements must also be studied. Hydraulic elevators need their own machine room while pneumatic elevators only need a level surface floor. Getting prices from different manufacturers and contractors can help you compare and wisely choose the more reasonably priced elevator for your property.

Average Cost for Residential Elevators

Are you going to install the elevator during your home construction or will it be retrofitted? Take note that you will have to pay more if your elevator will be added after your house is already completed. The average cost of elevators for homes is about $15,000 to $20,000. The cheapest one may be at $10,000 while the most expensive models can reach as much as $100,000. If you are after functionality and features do not count much, go for a vertical lift, which you can purchase for $3,995 only. Remember that there are many costs involved aside from the price of the elevator itself. For instance, a hydraulic elevator will need a separate machine room usually in the basement. Inspection and maintenance costs also add up to the expenses. These are important so the elevator will properly function and keep its passengers safe.

Commercial Elevator Pricing

Compared to a residential elevator, the costs of elevators for commercial buildings are much higher. The cost will depend on what type of elevator will be installed. The hydraulic powered elevator is the safest of its kind and is commonly used by commercial establishments. Commercial elevators may cost around $75,000 to $150,000. This is the total cost including installation already. Naturally, this rate can go up as high as $300,000 or even more when the building has more floors to be serviced. The rate given is a relative figure and should be used only as a benchmark.