Coming Soon!

This home is undergoing a 4-sided transformation – one of the better ways to capitalize on the Replacement Housing movement. The renovation strategy is appropriate for homes with significant remaining economic life, but which are functionally and aesthetically challenged. The renovation strategy makes use of the existing structure and adds to it, embellishes it and re-interprets it – bringing it in line with current lifestyle expectations such as open floor plans, and modern features and amenities. Considerable attention has been devoted to the home's external appearance, enhancing its curb appeal to make it more representative of the class of homes within its new price category. The end result will be a home that looks like it was originally built this way, avoiding the remodel/addition look so commonly seen today.

Comprehensive Planning Helps Buyers Make A Profitable Financial Decision

Our clients transferred to Edina from the Pacific Northwest purchasing this home in August of 2006. They were looking for a home with upside potential; of good construction, with a large lot, convenient to parks, shopping and schools, within a neighborhood conducive to active family living. Their plan was to invest in it and renovate it to more fully meet their desires, and lifestyle. As their initial plans began to take shape (a two-story with decidedly coastal influence) the company that transferred them here was sold, leaving future employment with relocation a distinct possibility.

Their focus quickly changed from ‘pursuit of their dream home’ to ‘what happens if they have to sell?’. Familiar with our core competency of profitably building and renovating homes for sale, and with the unique research and market knowledge we employ to identify, evaluate, design and construct our projects, the clients asked us to evaluate their project, its design and building formula from our unique perspective.

We began with a thorough project analysis, from selling ‘as is’ to ‘total renovation’. Current market conditions in our view would preclude selling ‘as is’ because of a probable equity loss. We instead proposed a seamless renovation which would raise the structure value while utilizing much of the existing house. This would allow us to cost-effectively elevate its class and price category, enabling it to compete with other new home options in the market at a higher price per square foot level.

Next, we directed our architecture and design team to develop a project program that fit the identified market profile of new homes in the $800-900,000 price category, paying particular attention to classic design, size, features and amenities. Since the clients may decide to stay, the design must reflect their specific needs as well.

The challenge was to design a project to these specifications that could be built for a price that would make it very saleable and would generate an equity return if they chose to sell.

To successfully accomplish this, the completed project must:

• Have actual curb appeal higher than others in its price category.
• Fit appropriately within the scale of the neighborhood in terms of size, height and mass.
• Appear that it was designed and built as a complete unit.
• Reflect current design standards and preferences applicable to its price category.
• Posess features and benefits superior to others in its price category.
• Clearly exhibit exceptional design, workmanship and material selections.
• Be built at a cost that would allow for equity gain if it were sold.

The result is a project formula that transforms an undesirable home with potential for equity loss into a new and highly desirable one with a significant potential for equity gain.