Putting an elevator in a house for an assisted living?

[Joe S.]

I have a house under contract to buy that’s 3700 ft.². The house is in a very desirable area, however it is a two-story. Has anyone put an elevator In a two-story house like this in order to make it an assisted living home? Are there other options?

I’m not buying it for the sole purpose of turning it into a residential assistant living house, but I am thinking of the best way to maximize it to see if this could be an option.

[Brandon Rush]

Hey Joe,

I am not sure of the demographics of the areas but have you considered converting it into a senior living home? You will probably get a good return on an elevator investment. Unless there is a large population of elderly in that neighborhood, it may not be a good idea. For all you know, you are renting out to able bodied tenants for then next 15 year who never needed a elevator.

Another option to consider for a house that large is renting by the room. Sounds like there is more than enough space.

Last recommendation would be maybe converting it into a duplex. Not sure about the zoning rules in that areas, but an idea.

Either way, good luck and enjoy the ride!