Home elevators are typically associated with swanky, high-end properties. It's a pricey alternative to using an existing staircase to get between floors, and may come off as more of a status symbol than a truly useful item.

However, residential elevators have become a more popular feature in recent years. Several different types of elevator are available, including some affordable models that can be seamlessly incorporated into the home.

Elevators are an especially useful addition for homeowners who are modifying their property to improve its accessibility, allowing them to "age in place." They can also take much of the hassle out of everyday tasks, such as hauling a load of laundry to an upper floor.

Although it is easiest to plan for an elevator in new construction or additions, the device can also be added to an existing home layout. The home design site Houzz says one option is to set aside space for an elevator shaft during a remodel, then use it for an office nook or other purpose until you decide to put the elevator in.

One important consideration is how much space the elevator should take up. Connie Adair, writing for Realty Times, says some of the smallest elevators will take up just 12 square feet of any rooms they serve. Amanda Bell, writing for Angie's List, says the typical elevator uses 22 to 25 square feet.

While an elevator with a smaller footprint can be convenient, it will also be less useful in transporting items between floors. The McKinley Elevator Corporation of Irvine, Calif., says an elevator car should be about three feet by four feet in order to accommodate a standard wheelchair.

Space requirements will also vary depending on what kind of elevator you use. Some elevators will require a machine room or several feet or overhead space, while others are more compact.

Hydraulic elevators raise and lower a car using a hydraulic cylinder. This type of elevator is speedy and quiet, but takes up a fair amount of room. Bell says a machine room is necessary to house the hydraulic equipment, and the elevator also needs a six-inch pit to allow the door to open properly.

Traction elevators have an elevator car run up and down a track using a counterweight. Although these elevators are slower and louder, they don't need a machine room and are a good choice for retrofitting an existing home. Lifton, a residential elevator company in Bethlehem, Pa., says the top and bottom of these cars can be designed to blend in with the floor or ceiling, leaving the track as the only visible sign of the elevator when the car is on a different floor.

Pneumatic elevators use air pressure to move a cylindrical car between floors. This futuristic-looking model will take up the least amount of space in your home. Houzz says the typical tube is only 37 inches across, while the pump box that operates the system is just 11 inches tall. However, this elevator can also carry fewer passengers and has a lower weight capacity.

If you are interested in installing an elevator in your home, a qualified specialist can help you determine the best options for your property. Lifton says elevators are often designed to move between landing areas on separate floors. However, they can also be designed to fit into existing closets or installed in empty spaces around an existing stairwell.

The cost of installing an elevator is determined by a number of different factors. The McKinley Elevator Corporation says these include how many floors the elevator will serve and what type of system is used. Houzz says other upgrades, such as wood paneling, mirrors, or other decorative touches to improve the elevator's appearance, will also drive up the price. Adair says a traditional elevator with two stops costs about $25,000, with additional costs for installation.

Safety is essential when putting in a home elevator. HomeSafe, a former residential elevator safety campaign, says elevators should be installed by a qualified professional who meets all local and state requirements. The "gap space" between any exterior door and the elevator gate should be no more than four or five inches to prevent children from getting trapped in this area.

Adair says home elevators should include safety features, such as backup power systems and the ability to be lowered manually. Day Elevator & Lift of West Hempstead, N.Y., says it is also important to have protective devices to arrest a free-falling elevator, an emergency stop button, and the ability to call a 24-hour service for help if the elevator becomes stuck.

Home elevators should be maintained regularly to avoid problems. Various service plans are offered by elevator companies, and HomeSafe recommends having the elevator inspected as often as the user's manual recommends. Bells says a maintenance visit should take place at least once a year.