A lot of people are asking whether they should install a home elevator to age-in-place or move. As of the early 2020s, 10,000 people turn 65 every single day. In fact, over the next decades, the number of senior adults will more than double making 88 million people prone to having mobility issues. That’s 20% of the population by 2050!

That is a lot of people who will need to modify their home or make the difficult choice to move from their family home. Clearly, demand will continue to rise for homes with elevators or installation of a residential elevator.

But even though you have a lot of company trying to make the decision if aging in place by retrofitting a home elevator is right for you, it does not mean the decision becomes easier. Everyone’s situation is different. So we offer some information to help you learn about choices and trade-offs to determine what is right for you. We address both financial and emotional aspects.

Comparing Finances of Moving or Aging in Place

EstimateTotal Cost of Moving

The Home You Would Move To

Determine the base cost of where you might move to. Take a look at home listings in the area(s) you want to live in with the criteria you need like an elevator or 1-story with difficult-to-navigate level changes inside or out. Pay attention to porches, decks, and slope of the lawn. If you will consider moving to a senior community with apartment options, give them a call to get rental or purchase information.

To that add costs for these considerations:

  • Will renovations or small modifications be required to age in your new residence?
  • What the cost of moving your belongings be? (A quick call to a local moving company can provide a good estimate.)
  • Will you need assistance to clear out, sell, or organize your belongings before or after moving?
  • Will you need storage for items you are not ready to sell?
  • Will you need to purchase new furniture to suit the rooms of your new home? Keep in mind any outdoor areas like a deck.

Costs of Selling Your Home

  • What could you likely sell your existing home for? (Most real estate agents will provide a free comp analysis to help you with that.)
  • What would be the realtor commission?
  • What cleaning, repairs, or remodeling would be required to prepare for a sale? Keep in mind that buyers often ask a lot of questions in older homes about roofing, general exterior condition, HVAC, plumbing, and electrical.

The Financial Costs of Aging in Place

  • What are the total cost to install a home elevator? Tips:
  • What other remodeling such as a wheelchair-accessible baths or kitchen may be required to age in place in your Austin-area home?
  • Will other elder safety modifications like grab bars be required to stay in your home?
vacuum elevator installed at top of a stair landing in an austin area home

Researching answers to these questions require time-consuming research, but investing the time will not only give you the financial impact information you need, but also will encourage discussion with your family that will help clarify the whole process, no matter what you decide.

Here is a comprehensive article on moving or aging-in-place that may offer additional insight.

Emotional Considerations of Moving or Aging in Place

Understanding the financial costs of this decision is helpful, but for many, the emotional aspects are more important. Talking about these considerations will help you and your family more clearly understand what is important to you.

  • Will moving take you away from friends and family? Or perhaps this is an opportunity to move closer?
  • Will your new home offer the same access to activities you enjoy? Consider if you move to a more urban area, it may impact your comfort with driving or your sense of safety.
  • Will moving offer more accessible healthcare or take you away from the doctors and facilities you currently use?
  • Does installing an elevator offer benefits to others like elderly parents, aging siblings, or family members with disabilities?

Moving or Aging in Place: Which is Right for You?

It is an extremely personal decision. This list of considerations may help you more confidently make your decision. Let us know how we can help you with this process!

Have More Questions?

Our Austin-based Certified Aging-in-Place (CAPS) specialists look forward to visiting with you in your home to provide you with a free, detailed, no-obligation quote as well as answer all your questions about how a vacuum elevator will fit in your home and serve your mobility needs.

Jay, thank you for the immediate service response for our elevator. Josh did an excellent job and was a fine representative of your company. Needless to say, Brad is always super. When we first started our business relationship, I told you a main factor for my selecting your company was the professional manner displayed by you and your staff. Using your services in my own home was just another example of that professionalism. The result is that my wife can once again go downstairs without fear of falling. Her Parkinson’s Disease has progressed since you last saw her, and the elevator has been a blessing for her mobility.

Art B.