A majority of older Australians want to see out their retirement living in their own home, according to Productivity Commission research.
Staying put sees many seniors decide to modify their home, opting to install a lift to extend the life and usefulness of a two-storey family property.
A lift can be a cost-effective alternative to selling and buying a one-storey property, says Damien Boyle, co-director of Compact Home Lifts.
"If you are buying a $900,000 established home in Sydney, you're looking at costs of more than $36,000 in stamp duty and fees alone,'' Mr Boyle said.
Instead, a customer can have a lift installed, age in place in the home they love and avoid the hassles and costs of selling and buying again, he said.
Ninety-three-year-old widower Cornelius Maas decided to have a lift installed in his two-storey home when he noticed his knees were getting weaker.
''You must anticipate your future,'' Ms Maas said. He has had a hip replaced yet single-handedly maintains his property.
Putting in a lift was ''the price of a car and half what it would cost me to move'', he said.
His Elegance Plus lift is a ''tremendous asset'' and he also uses it to move heavy things between floors.
As an official provider listed with the National Disability Insurance Scheme (NDIS), Compact Home Lifts are approved for home modifications and assistance products involving care and safety.
Measuring less than a square metre - the smallest footprint available on today's market - Compact Home Lifts are self-supporting structures that run on AC power from a standard 10A outlet using about the same amount of power it takes to run a toaster.
A lift can be installed beside stairs, alongside a hallway, in the centre of a room or be hidden in a cupboard.
The Elegance and Elegance Plus models are among the most affordable home elevators available nationwide and are designed to be far less obtrusive than a hydraulic or traction lift, which can cost a homeowner more than $55,000. Details: compactlifts.com.au.