When installing a premium residential elevator, space is a key consideration. Most residential elevators require a shaft measuring around 5 to 7 square feet, though this can vary based on the model and design. In addition to the shaft, overhead clearance of about 8 to 10 feet and a pit depth of 6 to 12 inches are typically required. For homes with limited space, compact or shaftless elevator options can be explored, allowing homeowners to enjoy the benefits of vertical mobility without extensive renovations.