Investing in property remains big business and one of the best ways to build a strong portfolio. For property investors looking to renovate purchased properties to provide a higher return, the structure, accessibility and functionality of the building are always important. With more and more buyers and renters looking for tech-savvy solutions that make life easier, home lifts are an increasingly popular option that can instantly increase property value.
Home lifts add value
Buyers will pay for convenience – that’s something that most investors have found out the hard way. From location, through to building usability, the more convenient a property makes the life of the occupiers the more it is likely to be worth. Adding a home lift to a building instantly provides an uplift in value as a unique and convenient feature that not every building will have.
Creating a broader pool of buyers
Stairs can be a problem and they can be an inconvenience. For older buyers, flights of stairs tend to make some buildings unattractive, reducing the pool of prospective buyers by a considerable number. Other demographics may also find the lack of a lift a problem, from new mothers with shopping and prams to those with disabilities. Adding a lift to a building means that there are many more potential interested parties to push the sale price up for property investors.
Making buildings more accessible
A home lift makes a property accessible to someone in a wheelchair in a very different way to stairs or a stair lift. It can provide independence and the opportunity to be self reliant, as well as access to upper floors that might not otherwise be possible. Home lifts are designed in a way that allows a wheelchair to simply roll in and out – there’s no need for the occupant to leave the wheelchair and the lift can be placed wherever it is likely to be most needed.
Low hassle, low cost
The way that home lifts are designed in 2017 means that the time and resources required to install them are minimal. Gartec lifts, for example, can be installed in around three days and with no structural changes required the process is quick and cost effective. A range of aesthetic finishes and the ease with which designs can be made bespoke provide the opportunity for a home lift to become a real design feature and a part of the property that sets it apart from the rest. In what is becoming an increasingly competitive market, a home lift is a useful tool for investors looking to get the best returns from the broadest range of buyers.