I Asked Experts How My Home's Accessible Features Will Impact Its Resale Value
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When you buy a home, you hope it will serve your needs for many years to come. If you or a member of your household has a disability or mobility limitations, that may mean making accessible modifications so the space can be used to its fullest.
While these changes and additions may be infinitely useful to you and your family, there's the possibility that they could detract from your home’s value when it comes time to sell the property. Which modifications are likely to have the biggest impact on resale value? And when is it worth removing these modifications versus selling the house as-is?
As a parent of a child with disabilities who has modified my own home, I wanted to better understand what works and what doesn’t—I talked to realtors and home modification experts about what you need to know if you're in this position as well.
Outdoor Modifications Are Less of an Issue
Accessible home modifications that are installed outdoors typically include either a ramp or a vertical platform lift. A temporary ramp is not much of a deterrent to potential buyers, depending on the material used and the permanency of the unit.
“People can take them down and trade them in or sell them for the weight of the aluminum,” says Colin Somerville, a realtor with REMAX. This is especially true if the ramp is installed over steps that are still in good shape. And any holes that a ramp may cause in concrete stairs or decking are not much of an issue, explains Somerville, because those areas are easy to patch and clean up.
What if the ramp is a permanent installation? Depending on who's buying the home, this could either help or hurt your resale value.
“If the ramp was built as a permanent fixture and the buyer didn't have the use for it but loved the house, the resale would most likely have to reflect the cost to remove which will lower the value slightly,” Somerville says. “However, if the buyer was purposely looking for a property that they need a ramp, they would not negotiate by credit. It could actually increase the value for them.”
However, if you have a vertical lift at the entry of your home, this modification may be worth removing before you put the house on the market.
“The problem with the vertical platform is it leaves a big hole in your railing build,” says Gregg Frank, owner of Back Home Safely. “When you remove the lift, your spindles and your railing have to be replaced.” If you're planning to put your home on the market, removing this modification will cost you about $1,000—but this may be worth it to boost the home's curb appeal.
Indoor Modifications Can Vary
If you've chosen to invest in an elevator in your home, there's good news for you. While it is a pricey addition, ranging anywhere from $35,000 to $100,000 to install, an elevator offers versatility that other accessible home modifications usually don't. In addition to helping someone with mobility limitations get to another floor, it can also be used to easily transport groceries, strollers, or heavy furniture.
Though it's unlikely that you'd recoup the full cost of installation, “elevators do add a lot of value,” says Frank. Somerville recently listed and sold a home with an elevator and agrees. “I think having the elevator made [the home] more saleable,” he said.
Stairlifts are a much more common alternative to elevators in most homes with accessible modifications. While these units don't add any resale value to the home, they're easily removable for little cost. “A lot of times we don't charge for the removal,” says Frank. “We take the unit and stick it in our attic and use it as parts for a rental.”
Eric Rubel, director of marketing at Lifeway Mobility says that if a stairlift for a straight staircase was purchased new from them, is in good condition, and is less than five years old, they will consider buying it back. Make sure to check with the supplier you bought your stairlift from to see if they offer a similar buyback or trade-in policy. The ability to trade in older or curved stairlifts may vary on a case-by-case basis, but they can usually be removed for a minimal fee.
Overall, the removal of a stairlift is not very noticeable. “If the house is carpeted, you won't even know it was there,” says Frank. “If the stairlift was over hardwood steps, we use a variety of different wood filler colors to fill the holes to match the wood steps.”
Certain Modifications May Not Be Worth Removing
Unfortunately, certain home modifications are both expensive to remove and may end up detracting from your home's market value if left alone. For example, hiring the work to remove walk-in tubs and raise lowered kitchen countertops could cost you tens of thousands of dollars—they essentially require you to renovate the space.
“It might not make financial sense to redo a whole bathroom or kitchen,” says Andrew Mensch, Realtor at Berkshire Hathaway Home Services Fox and Roach. “You have to weigh the cost of putting in the work.”
It’s important to factor in the current market and how many homes are available for sale. “When inventory is very low, someone might buy your home and do the modification themselves,” says Mensch. “But you may end up getting a little bit less than the house next door.”
While the timing of listing your home may be largely out of your control, the best possible scenario is to find a buyer who needs a modified home. According to Mensch, many real-estate listings now include fields for accessible home features, and those perusing homes online can look specifically for certain modifications. “Each listing has specifics for what this means, but realtors can search for this for buyers who are looking for a home,” he says.
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