Single Family Home, Multi-Generation Living
A home elevator doesn’t come cheap.
But, neither does assisted living.
Assuming that a nursing home costs $10k a month, the pay-back period for an in-home elevator — around $40k to install in new construction, substantially more to retrofit an existing home — can be as short as 4 months.
Which is why at least a few homeowners with the means are opting for the latter.
Fringe benefit: a substantially better quality of life for the aged family member . . .
P.S.: a stair lift (pictured above) — anywhere from $2k to $5k — is a cost-effective alternative.