Budgeting for A Home Elevator: What to Consider

by | Aug 29, 2024 | Elevators

As the demand for accessibility in homes continues to rise, adding a home elevator has become an increasingly popular option among homeowners. However, the decision to invest in this product may leave individuals worrying about the effects it will have on their bank accounts. Below, we will give you some factors to consider when debating whether or not a home elevator is right for you.

Maintenance Frequency & Costs

After the dust settles and you get into the routine of using your new home elevator, maintenance will be the next biggest cost for this new feature. Each elevator’s maintenance schedule is fully dependent on the quality of the materials and the level of engineering. With RAM’s home elevators, the efficient design reduces the number of maintenance checks it will need. Once-a-year maintenance and safety checks are often enough for many of our clients’ elevators! We often have clients surprised at how little maintenance is needed. Because of the quality of the materials and design, these machines are built to last for decades without major repairs.

Customizations You Want

At RAM, we allow a free range of customization to our clients with the residential Crystal. From crafted wine bars to lounge seating, marble walls to full-glass elevators, your home elevator cost can largely be affected by the interior you wish to have. With the Crystal, choose your preference of sizing, doors, finishes, lighting, and more. Home elevators with RAM are meant to fit into your home as you please. For inspiration on what your future home elevator can be, look at past collaborations we’ve done.

Retrofitting vs. New Builds

Retrofitting an elevator into a completed home will be more expensive than adding an elevator into a new build’s plans. While these prices do change between the two options, it’s important to note that RAM’s pricing is designed to be more affordable than comparable home elevators. Since home accessibility is our priority, we try to make sure it is accessible to people with a range of budgets. One of the main points of cost in retrofitting an elevator is the cost of removing ground in order to create a pit deep enough for the elevator. With RAM, this time-consuming and costly project is avoidable with our option for a limited pit or for bypassing the pit entirely with our pitless elevator design.

Machine Room Space

Homeowners are often worried about the amount of space that the car will take on its own, without the added room needed for all the equipment and machinery that comes with it. Fortunately, RAM elevators are engineered to be completely self-contained. The only space necessary is room for the car and tracks—this will save you on dedicated space as opposed to elevators in need of a dedicated machine room. When you are budgeting for the elevator that makes sense for your lifestyle, make sure you take into consideration the room you will be dedicating to it.

Affordable Home Elevators at RAM

RAM is an advocate for barrier-free living, and we recognize the significance that your budget plays in accessing what is needed for a better quality of life. Residential elevators symbolize more than just accessibility—they represent a commitment to future possibilities. At RAM Elevators + Lifts, we take pride in empowering Canadians to preserve their quality of life and enhance their well-being. Embark on your RAM journey today by reaching out to us or request a quote!

The RAM Team

RAM is a proud North American manufacturer of superior elevating devices for both residential and low-rise commercial use across Canada and the United States. Founded in 1987, our vision has been to engineer impactful accessibility solutions without aesthetic compromise.

GROUNDED SIMPLICITY,
ELEVATED DESIGN

Get started with RAM today.