When Is the Right Time to Install a Home Elevator? For many homeowners, the idea of a residential elevator starts as a someday thought — something to consider later, if needed. But in reality, the best time to install a home elevator is often earlier than most people expect. So when is the right time? The answer depends on your home, your plans, and how long you intend to stay — but there are a few clear moments when installing a residential elevator makes the most sense. 1.