{"id":134079,"date":"2023-08-22T20:19:14","date_gmt":"2023-08-22T20:19:14","guid":{"rendered":"https:\/\/fin2me.com\/?p=134079"},"modified":"2023-08-22T20:19:14","modified_gmt":"2023-08-22T20:19:14","slug":"why-people-are-paying-100000-to-install-a-lift-in-their-home","status":"publish","type":"post","link":"https:\/\/fin2me.com\/economy\/why-people-are-paying-100000-to-install-a-lift-in-their-home\/","title":{"rendered":"Why people are paying $100,000 to install a lift in their home"},"content":{"rendered":"
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When did lifts in homes start to appear? What happened to just mounting the stairs? While it might still be far from the norm, increasingly, many are shelling out thousands to include a lift in their multi-level homes, particularly an older cohort wanting to remain in one place as long as possible.<\/p>\n
Agent Jock Langley, director of Abercrombys in Armadale, Melbourne, first noticed the introduction of lifts at least 15 years ago. \u201cHaving a lift allows older people to stay where they are for considerably longer, even if they use a wheelchair,\u201d says Langley.<\/p>\n
According to Langley, the lift is also present in a number of two and three-level family homes where there might be a gymnasium or wine cellar adjacent to the basement car parking. \u201cWhen a family is regularly using these basements for a range of reasons, the lift becomes a welcome inclusion,\u201d says Langley.<\/p>\n
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A multi-level warehouse-style apartment in South Yarra, designed by architect Daryl Jackson, thoughtfully integrated the glass-sided lift into the fabric of the building.<\/span>Credit: <\/span>Abercrombys<\/cite><\/p>\n As the cost of land heads north in major Australian cities, so does the increase in the use of lifts, particularly in many blue-ribbon areas where the sites are smaller. For a house in Toorak, which didn\u2019t have a lift, the owners are now including one.<\/p>\n \u201cThere are generally three ways to go; a hydraulic lift, one that\u2019s electric or one that works on compressed air,\u201d says Langley, who has also seen a lift installed in a two-level apartment allowing the owners to stay in their home for longer. Some lifts appear clumsy when installed. However, a multi-level warehouse-style apartment in South Yarra, designed by architect Daryl Jackson, thoughtfully integrated the glass-sided lift into the fabric of the building.<\/p>\n Architect Robert Simeoni has incorporated lifts into his bespoke houses since 2010, with the first one being relatively simple compared with today\u2019s models. However, in a large new house in Melbourne\u2019s eastern suburbs, extending over three levels, the lift is sumptuously appointed with partial leather walls.<\/p>\n Accommodating up to four people, it adds texture, warmth and a sense of \u2018lux\u2019 to the well-appointed home. \u201cThe cost (for a lift) can start from $50,000 and go up to $100,000, with it ideally being serviced once a year,\u201d says Simeoni, who sees the inclusion of a lift as extending the life of a house.<\/p>\n In most cases, a lift isn\u2019t commonplace, particularly when there are only two levels to traverse. However, architect Anne Hindley, director of Hindley & Co., is currently adding a third level to a 1990s architect-designed house in South Yarra and incorporating a lift in the process.<\/p>\n Purchased by an older couple who were downsizing from a large family home, they, along with the architect, were thinking of how they would use the new house going forward. In this case, a lift of approximately one square metre will be inserted behind a fireplace in the living room (the fireplace will be moved forward).<\/p>\n \u201cThe lift itself is approximately $80,000, and then you have to allow $50,000 to rework the living area to accommodate it,\u201d says Hindley, who has organised an electronic lift with an external motor to be installed.<\/p>\n <\/p>\n A house in Hawthorn with a lift.<\/span>Credit: <\/span>Abercrombys<\/cite><\/p>\n While this price – around $130,000 – seems like a considerable amount of dosh, according to Hindley, \u201cIt\u2019s a great location and the owners don\u2019t want to have to move to another place, one that\u2019s single level.\u201d<\/p>\n For Langley, the move to smaller and more valuable inner-city sites is particularly attractive to downsizers.<\/p>\n \u201cIt\u2019s certainly following a more European-style model, with many people preferring a multi-level home near the city\u2019s edge and head off to their beach or country house on weekends. Having a lift certainly makes this shared arrangement possible,\u201d adds Langley.<\/p>\n Stephen Crafti is a specialist in contemporary design, including architecture, furniture, fashion and decorative arts.<\/em><\/strong><\/p>\n For expert tips on how to save, invest and make the most of your money, delivered to your inbox every Sunday, <\/i><\/b>sign up for our Real Money newsletter here<\/i><\/b>.<\/i><\/b><\/i><\/b><\/p>\nMost Viewed in Money<\/h2>\n
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