Anyone who invests in the real estate market wants to get a handsome return on their investment. There are many ways to increase your building’s worth in the market – be it renovating the kitchen or the bathroom or taking care of the tiny details around the house. Still, the appeal of getting a home elevator is altogether of a different league. If you are a property owner who wants to put it for sale soon, or if you want to attract new tenants to your property, having an elevator can make all the difference. Adding a home elevator to a house is a significant investment. It is well worth every penny it costs as it makes your home more lucrative and accessible to any interested buyers.
A recent study shows that a sizeable population in North America is getting older, with almost 50 million Americans over the age of 65. A huge chunk of this elderly population has mobility issues. With these data in hand, it is no wonder that homes with elevators are in demand. Families with aging parents see elevators as a much-needed feature in their homes. It provides convenience and makes it easy to move around the house while also providing an aesthetic appeal to the home.
If you are renovating your property and need help getting a suitable elevator for your home, an elevator service company can help you with the same. In this article, we will share the things you should keep in mind when installing a new elevator or upgrading an existing one to increase the market value of your building.
Having An Elevator Is a Value-Added Feature:
Whenever someone buys a property to live in it, they usually think of the long term, and they want to build a dream house of it and spend their life basking in its comfort. If you are a property owner who wants to put a building on sale in the market, getting an elevator installed is one of the best things you can do to increase its market value. A home elevator makes the property accessible for the elderly and provides others with peace of mind about the future.
A Seamless Look to Your Property:
If you already have an elevator in your building and are planning on a massive renovation, do not bypass the renovation of the elevator. Most people think of only renovating the lobbies, kitchen, bathroom, façade, and other aspects of the building and neglects to renovate the elevator. It is a mistake that you must avoid. The old elevator stands out like old sores in a renovated building and degrades the property’s overall look.
A seamless look of a renovated building attracts more buyers and renters and enhances the value of your property. So, renovating the elevator with the help of an elevator service company will help in harmonizing the overall look of the building. There are so many options to choose from for the elevator lobby, depending on what will go with the house’s look. One could go for metal finishes, wooden accents, or trendy glass patterns for a brand-new look to the elevator. An elevator redesign will have a positive impact on your property. So, do not overlook its renovation when renovating your property.
Replace an Out-of-date Elevator
The typical life of an old elevator system is about 20 years. If you have been facing issues with the elevator of your building in recent years, it is about time to replace it altogether. An out-of-date elevator system can bring down the price of a property. So, if you plan to put such a property for sale, it is better to replace the elevator and then put it up for sale for a better price in the market. It will increase the attraction quotient of the property and will get you more potential buyers.
The new elevator systems in the market are more efficient and work on advanced technologies that reduce wait times, reduce cost and enhance the overall riding experience. When evaluating the market value of your property, add the cost of modernizing the elevator to enhance the property’s market value.
Premier Elevator Cabs is an elevator service company that has been in the elevator business for over 25 years and caters to a whole gamut of the elevator industry – from design, fabrication to cab interior services. Whether you want a total elevator modernization makeover, cab replacement or refurbishment, or regular elevator cab maintenance, we will do it all at very affordable rates. Contact us today for elevator options assessment in NC, VA, MD, DC & DE.