Lifts are becoming the new “must-have” accessory at the higher end of the market. Increasingly, lifts are a standard accessory (indeed, a standard request) in new, multi-level prestige homes. But lifts are not just restricted to new homes; increasingly, in Toorak and Brighton, they are being retro-fitted to beautiful period mansions.

As land prices in Melbourne go up, basement construction becomes more prolific (significant advantages are that you avoid height controls, minimise building footprint, improve car accommodation and security, and create gym and home theatres areas, which do not need natural light etc).

Costs for a lift can vary between $70 – $120K (and could cost a lot more for commercial or boutique models), and it will generally occupy a footprint area of 1.8×1.8m. The lift’s speed (most will rise 1 metre per second) can be an issue and a frustration initially but, if the lift is used as a necessity, this is often quickly forgotten.

The majority of lifts are imported from Italy, assembled on-site and an annual service is required. A lift will add value to your property, and it will be a more attractive proposition to a greater number of buyers when it comes time to sell.

We saw a good example of this in Hawthorn last year, when two modern townhouses in Muir Street, with similar floor plans and similar land sizes, sold for very different prices. The big difference was that one had a lift and the other did not. The one with the lift sold first for around the $3.2 million mark and the one without the lift sold for $2.8 million. The lift was the first feature mentioned in the property advertising and headlined the marketing as “exciting vertical living”.

Even able-bodied people will see the value in a lift, particularly when carrying a multitude of green shopping bags from the car in the basement to the kitchen a floor or two above. Also, while it is not something often considered by many people, if a family member becomes temporarily or permanently disabled, it will ensure the house (particularly a second-storey bedroom) is still accessible.

In James Home Ratings, we give extra points for houses with lifts, where no downstairs bedroom exists, and rightly so.

Design Smart
Adam