Buying a Home With an Elevator? Inspections are the key to Making an Informed Decision
Buying a new home can be very exciting. It’s important to find just the right one, and sometimes there are unexpected features that the buyer might not think of but would enjoy nonetheless. One of those could be an elevator. While not that many homes have elevators in them, there are a surprising portion that do.
In some cases, a high-end home may have an elevator to really cement its luxury status, but there are many smaller, more modest homes that feature elevators to make the abode more accessible for those with a disability. For anyone buying a home with an elevator, however, making an informed decision about the purchase means getting a proper inspection of the elevator from a trained professional, along with the more standard home inspection.
What Are the Hidden Costs?
Elevators aren’t free, and even having one already in the house can mean a lot of extra costs in some cases. They have to be maintained, and they can break down and need to be repaired, as well. They need to be inspected on a regular schedule, and anyone who owns a home with one in it will want to make sure they take good care of it.
Additionally, there needs to be a way to get out of the elevator and a way to contact someone from inside of it, just in case there’s a problem. If the power is out, the elevator will also not work, so that has to be taken into account for safety and security reasons as well. If the elevator in the house which a buyer is looking at, doesn’t have these options and features already installed, some changes may have to be made that can drive up the cost of the elevator and the home.
An Inspection Can Provide Peace of Mind
Getting a good home inspection can provide peace of mind and security, and an elevator inspection is no different. Knowing that the elevator is working well, and learning a lot about it, is a great way to make the buyer feel secure in their new home. Using the elevator shouldn’t be a difficult or stressful experience, and when the elevator has been properly inspected before the home is purchased there is far less risk to worry about.
That’s good news for anyone who wants to buy a home with an elevator. It’s important that they get a good inspector, though, who specifically works with elevators. A standard home inspection won’t usually tell them all they need to know about such a unique and specific feature.
Learning About Maintenance is Important
One of the biggest things a buyer of a home with an elevator should ask about is maintenance. Elevators require periodic maintenance and updates to keep them operating safely. Because of that, any home buyer will want to make sure they incorporate the cost of that elevator maintenance into the cost of maintaining their home. If they do that, they can be better prepared financially and know what they are really getting into. In a sense, it’s not so different than purchasing a home with a pool.
Is a Needed Elevator Upgrade Coming Up Soon?
In some cases, the elevator may be very old and need to be upgraded. If that’s the case, the cost of doing that upgrade could be more than the buyer would initially expect. Buyers should talk with their agent about negotiating with the seller and potentially having them cover the cost of replacement/upgrades so they don’t have the cost of upgrading or removing the elevator. Sellers with unique houses are often willing to work with buyers to ensure a deal is made, and the first step to negotiating is determining the condition of the home through appropriate inspections.
