Residential elevators have not only changed the way we age in place, but also how builders and homeowners look at future house designs. There’s great value in building up rather than out, from cost savings to a reduction in roofing/foundation materials; but more than that, it allows builders to utilize amenities like the residential elevator to stunning effect.
Even if homeowners aren’t ready for an elevator, they can include future considerations for one by including “stacked closets” in the home design. Including a residential elevator in a new home can also increase its value by 10%.
You might think that by building taller, you’re missing out on valuable living space. Well, you’re actually able to preserve the square footage while enhancing the functionality of your layout as space can be better utilized in a multistory design when compared to a ranch-style home. Think about it: if you prefer a little more peace and quiet, having all of the bedrooms on the second floor can keep sleeping quarters private and peaceful, and separate from the more active living areas of your home.
Building up—a new design philosophy
Today’s builder is working with a new design philosophy: building up. While it’s true that many homeowners have a design in mind when they’re considering a new house, whether it’s the materials, the architecture style, or ranch vs. two-story home, there’s a lot that can be said of building up.
One of the most noticeable advantages to building up is the cost savings per square foot. When you stack living space, you can actually add considerable square footage to the design without the added costs for foundation and roofing materials. Multistory homes feature smaller foundations and roof lines, so they’ll not only require fewer materials, but you’ll also save on land costs.
For example depending on the area, a ranch (on a 60’ lot) could cost upwards of $80,000 more than a multistory home (on a 40’ lot) of the same square footage. In this example, deciding between building up or out comes down to comparing a $240,000 price tag to one that’s only $160,000. Not only would you save more money on the taller home, but you’d have plenty left over to include that residential elevator in your plans! All without sacrificing square footage.
One of the most expensive parts of a home is the land you build on. Multistory homes have a more compact footprint than a ranch, making taller homes ideal for new developments and in-fill projects.
A more compact footprint also means more options for location, and makes it easier for builders to incorporate a residential elevator in the design. This is why we encourage buyers or homeowners in their 40’s, 50’s, and 60’s to consider making their new homes “elevator ready” by using stacked closets in a multistory design. Whether you can benefit from an elevator today, making it easier to install tomorrow will save you a lot of money when or if you decide to purchase one.
Future proofing your new home—including design elements that will reduce the number of future improvements and modifications—is key to getting the most out of it and improving the resale value.
Homeowners and builders alike benefit from a smarter design
Builders and homeowners can both save when it comes to building up, from lower land costs to a reduction in materials purchased. Beyond the cost savings there’s the added advantage of improving a home’s functionality and livability. A multistory home equipped with an elevator offers its residents the same level of access, only with a more functional layout—one that can be utilized with ease by the smart builder.
Homeowners who opt to consider a residential elevator in their designs can look forward to more livable space and flexibility in future additions, for both retrofits and new builds. Those considerations during the design phase could easily save you money down the road, making it much easier to budget for such renovations. That means you’re not just saving money up front by building up, but setting yourself up to save in the long-term as well.