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this post was submitted on 10 Oct 2024
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It must be nice to have so much money that they can indulge their sentimentality like that.
Imagine having to move into a new house without stairs, they'd lose the will to live and die after a month
It might be a purely financial decision of "we want to keep living independently but we can't afford to buy a different house than the one we locked in 40 years ago, so lets spend a few thousand putting in an elevator instead of spending hundreds of thousands changing houses" since some major cities have housing markets that are simply that extreme
My googling tells me:
The typical cost to install a home elevator in a two-story house ranges from $30,000 to $60,000 on average
Minimum cost: Around $20,000
Maximum cost: Up to $100,000 or more
National average: Approximately $48,000
A reno to make the house sellable would cost that as well
Much doubt in that statement. Define 'sellable', is taking the price from 900,000 to 1.1 million making a house sellable? I guess you don't want to leave 270,000 dollars on the table but if they're at the point where they can't walk up stairs ik going to hazard a guess that those amounts will result in the same quality of life for them
Sellable as in the cost/price increase negate each other but you’re actually going to find a buyer within a reasonable timeframe
Yeah huh
Some things to consider
Asbestos/mold will get you passed on unless you’re selling to a flipper
You as a buyer are going to want a home that doesn’t have the above so you’re going to want the money that a home without it provides
Boomers are so financially illiterate that their retirement plans were that their house would pay for the last 20 years of their lives