I know someone who has his entire shop above his garage. He has a motorized lift that slides/folds out of an end door to lift his machinery and supplies, etc.
It works for him, but I wouldn't want it. My shop was in the basement of my previous house and the only access was the inside stairway that went up to a 3 X 4' area with two doors, one left into the kitchen, and one straight ahead, which then dropped two steps into the back corner of the garage. Everything had to go in and out through that up and down maze. Before I moved, I was considering finding a sidewalk elevator and building an outside entrance with the elevator in it for access in and out of the basement, maybe with a removable stairway so the elevator didn't always have to be used. You can make do with these inconveniences, but it sure doesn't promote good shop time.
Charley