Installing a home elevator is a significant investment that transforms accessibility, convenience and property value. For Australian homeowners weighing the cost against the benefits, understanding the financial landscape is crucial.
How Much Does a Home Elevator Cost in Australia?
Typical home elevator installations range from $25,000 to $60,000 depending on the model, features and installation complexity. Next Level Elevators offers all-electric lifts starting around $41,950 plus GST, providing quieter, more energy-efficient alternatives to traditional hydraulic systems. These prices usually include the lift and installation but exclude structural modifications like building a lift shaft, which can add tens of thousands of dollars depending on your home’s design.
Factors That Influence the Total Investment
Several elements affect the final cost, including:
- Lift type and technology: All-electric lifts cost less to run and maintain than hydraulic lifts which may require more power and space.
- Number of floors and stops: More floors mean taller shafts and more complex controls, increasing costs.
- Customisation: Premium finishes, smart features and accessibility options add to upfront expenses but enhance value and usability.
- Installation complexity: Retrofitting lifts into existing homes or tight spaces demands more structural work, raising costs.
- Location: Labour and material costs vary across Victoria, New South Wales and Queensland.
How a Home Elevator Boosts Property Value
Elevators add substantial value to Australian homes, often increasing resale prices by 10% to 25% or more. Some reports suggest a quality home lift can add up to three times its cost in market value, especially in regions with ageing populations or multigenerational households. Elevators appeal to a wider buyer pool including retirees and families seeking long-term accessibility and luxury features.
Long-term Financial Benefits Beyond Resale
Beyond boosting property value, home elevators offer ongoing advantages such as:
- Future-proofing: They enable homeowners to age in place comfortably, reducing the need for costly relocations or renovations later.
- Energy efficiency: Next Level Elevators’ all-electric models run on single-phase 10 amp power and have European A-grade energy ratings, cutting operating costs.
- Low maintenance: Quieter, simpler electric drives reduce servicing frequency and expense compared to hydraulic lifts.
- Enhanced lifestyle: Improved accessibility reduces injury risks and adds convenience for all household members including pets.
Financing and Ongoing Costs to Consider
Financing options vary by supplier but are often available to spread the initial investment. Annual maintenance typically costs between $500 and $1,500 depending on lift type and service packages. Next Level Elevators backs its products with a 7-year warranty, providing peace of mind and reducing unexpected expenses.
Making a Smart Investment in Your Home
Next Level Elevators combines premium Italian design with Australian innovation to deliver fully electric, customisable home lifts tailored to your needs. With showrooms in Melbourne and Sydney and servicing across the east coast, they offer competitive pricing and expert guidance to ensure your lift is a valuable, long-term asset.
Investing in a home elevator is not just about convenience, it’s a strategic upgrade that enhances your lifestyle and property worth. For homeowners committed to quality, accessibility and future-ready living, a Next Level Elevator is a smart, rewarding choice.
If you’re planning a new build, renovation or looking to improve accessibility in your home, Next Level Elevators can help you choose the right lift for your needs.
Click here to contact us and request a quote.
