How to Finance Your Stairlift

If you’ve come to the decision that you require a stairlift to be fitted into your home, you are probably weighing your options around how to pay for your stairlift. It is often a pricey investment, but a necessary one for many people. We will discuss the various options you may have to help you afford your stairlift installation.

How much does a stairlift cost?

A stairlift is a life-changing purchase, giving you more mobility and independence. It’s worthwhile investing in this piece of equipment because it can increase your quality of life significantly. However, the question on everyone’s mind is ‘how much will this cost me?’

The price of your stairlift will depend on a number of factors such as whether you have a curved staircase, whether you choose a new or refurbished model and whether you want to opt for additional functions and features. You’ll also need to consider the cost of installation, servicing and repairs.

Grants for stairlifts

There are some grants available for those that require a stairlift but are unable to finance it themselves. You can obtain a grant through the government as well as other charities and organisations. However, these are not always guaranteed and not everyone will qualify for certain types of financial aid. Some of the grants available to help with the cost of your stairlift include:

  • The Disabled Facilities Grant
  • Charities such as The Edward Fostling Foundation
  • Referrals to charities from Occupational Therapists or health and social care workers through Independence At Home and Margaret’s Fund
  • Specialist charities such as the SSAFA and the Royal Agricultural Benevolent Institution

Budgeting for your stairlift

Most people choose to pay for their stairlift themselves or by starting a fundraising campaign that will help them pay for their stairlift. It’s normally achievable for people to decide they are going to buy a stairlift and then appropriately budget for this investment. This includes cutting costs elsewhere so you are able to save money. You can also choose to sell any belongings in your home that you no longer need or use. Perhaps an old record player or a bike you don’t use anymore.

What tax do I pay on stairlifts?

If you are an individual buying a stairlift for your own personal use, you may be eligible for relief from any Value Added Tax (VAT). In order to be eligible for this, you must meet certain criteria as ‘chronically sick or disabled’. This means you have either a physical or mental impairment that has a long-term and substantial adverse effect on your ability to carry out everyday activities. Or a condition which the medical profession treats as a chronic sickness, such as diabetes.

Are you looking for a reputable stairlift company? Alfix is located in Leamington Spa and provides both new and reconditioned stairlifts to help improve your quality of life. For more information, get in touch with our friendly team.