If you are one of the more than 20% of Americans with disabilities, or one of the up to 40+ million aging baby boomers today, which will swell to over 83 million by the year 2050, listen up! The U.S. Internal Revenue Service's Website provides a comprehensive list of items which are tax deductible as a health deduction on your income tax, which you could use to help recoup at least a portion of your remodeling expenses. Whether you are considering the addition of safety bars in the bath, widening your bathroom doorway for a wheelchair, adding a ramp from your garage, or an elevator to the second floor, these are deductions you want to consider!  

The home improvement market is now a $214-billion-a-year industry and this is due at least in part, to the aging baby boomer population! A recent study from Harvard University shows that the home remodeling industry is at least partially responsible for the increase in the country's economy. Since the U.S. Census bureau reports that up to 86% of baby boomers have full intention of retiring and aging in their own home, this booming home improvement market is sure to grow respectively along with the ranks of the aging boomers.

"Home improvements that provide a medical benefit. Deductions have been allowed for an elevator for a person with a heart condition . . ."

Remi Home Elevators is one of America's oldest and most trusted home elevator manufacturers, helping thousands of individuals to live a higher quality of life in the homes that are so dear to them. . If you have questions about a residential elevator for your home contact us.

While you will want to discuss these IRS deductions with your own accountant, Remi Home Elevators can help by putting our decades of experience to work for you! We can help by answering your questions about residential elevators, and by directing you to the information you need to know to get the best deal on a home elevator.

Sources:
http://www.bankrate.com/brm/news/real-estate/improving.asp
http://www.irs.com/articles/deduct-those-medical-expenses

 

 

Posted by REMI Home Elevators  | Category: home elevator

Residential elevators are a luxury item for some people while a necessity for others. Today home elevators are helping to make it possible for individuals with mobility issues to live in multi-story homes. Although the inner workings of a home elevator are relatively the same, the cab itself comes in a variety of designs and styles to meet every homeowners tastes and needs. Even more importantly, home elevators can be installed in existing homes rather than only during construction. Because of the growing popularity of home elevators, some builders are including a provision for adding an elevator to the home at some point in the future.

Hydraulic Elevators are perfect for low rise buildings making it the ideal choice for a home elevator. The hydraulic elevator utilizes a machine room to house the drive mechanisms. But most people are surprised to find that you don't need a large amount of space for the machine room and installing a home elevator is relatively easy and fast.

The hydraulic elevator is the most popular choice for homeowners because of the low cost to build, install and maintain. But an even greater reason for its popularity is the better safety record of the hydraulic elevator as compared to the electric elevator. This is especially true in earthquake prone areas. In 2001 the earthquake in Seattle caused damage to only 1% of hydraulic elevators compared to 11% of electric elevators. For more information about servicing and safety of hydraulic elevators click here.

As you begin to learn more about the different types of home elevators available it is important to consider the cost and safety of each. Use our Home elevator calculator to learn find out the cost of installing an elevator in your home. Home Elevator Calculator

Posted by REMI Home Elevators  | Category: home elevator