Though the installation of a home lift is generally always the responsibility of the company that you bought the lift unit from, this isn’t always the case. 

Sometimes, lift units will be purchased from companies based the countries like China, which might not have an installation team here in Australia. This means that a separate lift company must be engaged to undergo the installation process. There are also other reasons why this may happen including moving a lift from your previous home and having it reinstalled after you move to your new house, buying a home lift second-hand, and more. 

On average, the installation cost of a home lift in a new build should cost between $4,000 - $8,000.

However, the installation cost of retrofitting a residential elevator into an existing home could cost anywhere from $12,000 to $40,000. This is due to the building costs and structural changes required to make this a reality.

The exact cost will vary based on several factors, including, but not limited to:

Size and load duty: Residential lifts range from small options (measuring 600x600 mm) and large options (measuring 1,100x1,400 mm). They also have different load capacities. Lifts with higher load capacities will cost more since they’d need larger motors and more engineering requirements.

Travel distance: Lifts that will be required to travel more than the average distance (between 2.7m and 4.5m) will come with higher price tags.

Design: Residential lifts come in an array of design features and specifications. The more unique features you need, the higher your bill.