My Lottery Dream Home Highlights One Home Feature That'll Attract Older Buyers

When many buy a house for the first time, they think they'll live in it forever. However, sometimes you want a fresh start in a new place and home. Before selling your abode, adding certain features can help it appeal to multiple age groups. For example, a two-story house with a staircase may attract families with older kids. However, to draw in older buyers, consider elements they'll need to move around effortlessly in the space. Some older individuals live with limited mobility, causing them to use a wheelchair or walker. To make your home accessible and prevent any trouble with the stairs, consider adding an elevator to help older people move around safely and comfortably. 

As highlighted by HGTV's "My Lottery Dream Home" star David Bromstad, older buyers may appreciate a multi-story home with an elevator. In an episode, Bromstad helps find a cozy home for his client, Pauline, and her husband, Bill. She requests their home to have three bedrooms, two bathrooms, and a water view. When Bromstad shows her a house in Merrit Creek, Pauline notices all the steps the two-story house has, but Bromstad reassures her that the house has an elevator. The elevator is accessible outside the house, allowing Bill to move around the house leisurely without worrying about taking the stairs. As older buyers look for their dream home, they don't need to restrict themselves to a single-story home; if they see an elevator, they may be more inclined to buy it.

Installing an elevator in your home before selling could help it reach a larger pool of buyers. The average cost for the project ranges from $28,000 to over $35,000 based on the number of floors and the elevator itself. The price can increase due to renovation and labor costs. While adding an elevator is an investment, you can recoup what you spent on the installation when you sell your property. It will increase the value of your home, so you can include the price you paid on the elevator and gain back what you spent.

Including an elevator in your home may also increase its desirability to older buyers. The elevator will help them maneuver around, offering simpler living. For instance, they can transport heavy items from the ground floor to higher floors through the elevator. They won't have to worry about carrying one heavy bag at a time up and down the stairs. Instead, they can fill the elevator with bags and take them to the top floors safely. On cleaning days, the elevator will be handy for carrying the vacuum or mop to different floor levels. Whether you sell your home or invite your older family members to live with you, installing an elevator will allow older members of the population to live more comfortably.