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Elevators in a residential home

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Jeff Moffatt

Thread Starter
Freshman Member
Joined
Nov 25, 2006
Professional Status
Certified Residential Appraiser
State
Minnesota
Has anyone appraised a single-family home with an elevator? Are there any data sources regarding elevators? I checked Marshall & Swift but found nothing. Thanks in advance.
 

Bama Bayou

Senior Member
Joined
Oct 19, 2006
Professional Status
Certified General Appraiser
State
Alabama
We have a lot of houses with elevators in my market due to the large number of snowbirds and retirees. I would look under "elevators" in the yellow pages and call a few of them. They can tell you about how much it costs for new or retrofit elevators.
 

Brian Weaver

Senior Member
Joined
Apr 16, 2005
Professional Status
Gvmt Agency, FNMA, HUD, VA etc.
State
Illinois
A basic Lev will start at $15K. Depends on how fancy...how many stops, etc. All of your big elevator manufacturers offer residential models. Otis, Thyssen...those guys.
 

Terrel L. Shields

Elite Member
Gold Supporting Member
Joined
May 2, 2002
Professional Status
Certified General Appraiser
State
Arkansas
I've seen only one and it was a lot less problem than the house that had the pipe organ...the console in one room and the pipes in a two story enclosure attached to the house...
 

TJSum

Elite Member
Joined
Nov 12, 2007
Professional Status
Certified Residential Appraiser
State
Maryland
Some luxury townhomes offer the elevator option, if any are being built in your market you may wish to check with the builder to see what kind of pricing they are putting on this feature.
 

David Wimpelberg

Moderator
Staff member
Moderator
Joined
Mar 30, 2005
Professional Status
Certified General Appraiser
State
New York
I've appraised quite a few homes with elevators. As far as costs go on them, most are fairly modern so I can simply ask the owner/caretaker/architect if I need any information.

M&S does have information on elevators, but I don't know what section it is in.
 

Michael Tipton

Senior Member
Joined
Sep 25, 2005
Professional Status
Certified Residential Appraiser
State
Florida
My M & S book lists elevators in the index. They are on page C32 in my book.
 

JRS at OBX

Elite Member
Joined
Jun 13, 2006
Professional Status
Certified Residential Appraiser
State
North Carolina
A lot of the big beach houses around here have elevators. I usually give them about 15-25K in the cost approach.
 

Scott Kibler

Elite Member
Joined
Oct 7, 2003
Professional Status
Certified Residential Appraiser
State
Illinois
The Marshall & Swift online cost service includes elevators. I had one a few months ago.
 

Mike Garrett RAA

Elite Member
Gold Supporting Member
Joined
Jan 14, 2002
Professional Status
Certified Residential Appraiser
State
Colorado
Once in awhile we will see a "stair-lift" but haven't done a house with a real elevator in 28+ years of appraising.
 
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