Why an Edina Teardown is a smart move!
Real Estate Value
Edina’s real estate is among the Twin Cities’ most desired, largely based on its reputation for good schools which are consistently ranked among the top in the state. Edina is also a Twin Cities central location with quick access to freeways and the airport.
Build the Home You Want!
A teardown allows new construction with the features you want such as open-concept floor plan; media room, loft, home office, mudrooms/utility rooms, upper level laundry so no more hauling laundry up and down stairs. Most older homes in Edina neighborhoods don’t have two stories that is needed in order to get the square footage desired for these homes. TJB Homes has optimized 2-story home plans to fit narrow Edina lots.
The prime location tends to attract young and middle age professionals with kids. Some may fly out of town during the week. 30% of residents are in professional, healthcare, scientific or technical services. Many are physicians whose practices take them to multiple location. Median household income is close to $100K.
There are nearly 40 parks in the Edina area, from small neighborhood lots to large, recreational spaces. Pamela Park neighborhood is center of the redevelopment boom.
Edina’s residential redevelopment has revitalized neighborhoods and boosted the city’s tax base. Residents welcome the increase in home values while the demographics become more family oriented. Over the last decade close to 1,000 homes have been torn down and rebuilt. On average about 100 teardowns per year. Many Edina homes were built in the 1940s and 1950s are are modest Cape Cods and ramblers on the small side in terms of square footage. The aging population has retired, widowed or divorced and are selling cash out after substantial appreciation. They are being replaced with young families with very different housing needs.
Convenience (Location, Location, Location)
The city is roughly divided into four sections by highways and interstates, which makes travel even more readily accessible. Nearby major roads include U.S. Route 169, State Highways 7, 62, and 100, and Interstates 394 and 494. Shopping and retail conveniences include the 50th and France shopping district and Southdale. Additional retail amenities at the walkable Edina Village Market strip mall joined longtime neighborhood businesses.
Home Sales History
16% of the 534 homes sold in 2019 were priced over $1,000,000. This includes new construction and existing homes. Only 4% of the homes were sub $300K, the price point which makes a teardown economical. Edinas residential redevelopment has potential to remain strong for years to come however selection will decrease and price likely increase so now is a great time to make the move.
We can help you find that perfect teardown and customize your home plan to fit your Edina lot. If you are looking to sell your Edina home as a teardown please contact TJB Homes for an offer today!