Home Elevator – Maintenance/Insurance/etc. costs?

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We are looking at a new house that must have had somebody disabled living in it before – because it has a home elevator installed. While it might be nice to transport laundry baskets or when my elderly mother comes over, I can’t imagine I would use it with any frequency. But what are the downsides of having one of these things? Am I going to take a big hit on my home insurance for this? How often does a home elevator need to be maintained/inspected etc. to insure they are safe and unlikely to get stuck? If anybody has actual experience with owning one of these, I’d like to hear your thoughts.

2 Comments
  1. Reply
    eskie lover
    July 1, 2011 at 6:01 pm

    A lot depends on where you live. Some cities and counties require annual inspections and safety certifications. Some require a permit (like with burglar alarms) and charge an annual fee. Most are fairly safe and will operate safely without incident for years, however, so it is another way for budget strapped cities to get extra revenue.

    Also, check what your rate per kilowatt hour is in your area and whether you have a smart meter. In some areas they cost a lot to operate, particularly during daytime hours. In my area, it costs between 1-2 cents per minute (1 cent for low use customers and 2 cents for high use customers per SDGE). But, if you use them a lot they can cause you to go over your baseline allotment and that increases the cost per kilowatt on all of your electricity.

    And, just like pools, spas, household vacuum systems they do affect home owner’s insurance in that it takes you from a standard to either a deluxe or custom policy.

  2. Reply
    jeffery whiteside
    June 11, 2012 at 12:47 am

    hi, im working with a realater on buying a frist time house,and he told me that my credit score is 570,and that i need 40 points to get enoughf to buy a home.
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    thanks jeffery whiteside

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