With rising costs and economic instability, people are increasingly seeking ways to reduce expenses and maximise value. Financial tips and cost-cutting strategies are now vital to budgeting. The prevailing advice is to invest wisely, and depending on your circumstances, a home lift can potentially assist in this area. Here are twelve reasons why a home lift can help reduce expenses and maximise value.
1. Avoid paying Capital Gains Tax
When you sell your home, it is likely you will need to pay a Capital Gains Tax (CGT). The longer you are able to age in place, the longer you can postpone paying this tax.
2. Holding onto an appreciating assets for longer
More often than not, homes have proven to be an appreciating asset over the long-term. Consequently, it can make a lot of financial sense to hold onto this asset for as long as possible.
3. No expensive construction required
Rising costs have significantly impacted the building sector, with these increases passed on to consumers. Installing a domestic lift eliminates the need for costly ground floor conversions or extensions, saving money, time, and disruption.
4. Ensuring adaptability for future needs
A Home lift is a permanent solution designed to accommodate changes in mobility, including the use of a wheelchair if needed. Unlike stair lifts, which have limited flexibility and adaptability, a home lift offers greater long-term versatility and responsiveness to evolving accessibility requirements.
5. No moving costs or other obstacles in life
We all have important people—friends, neighbours, or family—who support us. By avoiding the costs and disruptions of moving, you can remain close to those who matter most.
6. Prevent the need for residential care
Avoid moving into residential care or hiring in-home care services prematurely. Both options can be costly and are increasingly limited due to a shortage of qualified staff.
7. Protection against fall-related costs
A home lift helps minimise the risk of stair-related slips or falls, along with associated injuries, extended recovery, and potential loss of earnings for the injured person or family members providing care.
8. Minimising reliance on relatives
While loved ones may wish to help, managing your own needs reduces their travel costs and expenses.
9. Cost-effective to operate
Unlike energy-intensive hydraulic lifts, a our home lifts operates on 220 – 240v AC mains electricity, making it highly economical and helping to control costs.
10. Increasing property value
Installing a domestic lift can enhance a property’s appeal to a broader market, including those seeking future-proofed or accessible homes, thereby accelerating sales and increasing perceived value.
11. No further assistance technology is needed.
Installing a stairlift requires investing in two sets of wheelchairs or walkers—one for each floor—resulting in added clutter. In contrast, one of our models allow for seamless mobility with a single assistance aid.
12. Lower expenses due to dependability
Our industry-leading lifts are designed for reliability, minimising expensive service calls and parts. At Compact Home Lifts, our premium products come backed by an industry leading 7-year warranty (T&Cs apply).
What are you waiting for? Contact us at Compact Home Lifts; we’re here to help.
