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.

About the author

Ross Kaplan has 19+ years experience selling real estate all over the Twin Cities. He is also a 12-time consecutive "Super Real Estate Agent," as determined by Mpls. - St. Paul Magazine and Twin Cities Business Magazine. Prior to becoming a Realtor, Ross was an attorney (corporate law), CPA, and entrepreneur. He holds an economics degree from Stanford.

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