Key insights:

• Having a clean, tidy home is linked to better mental health and enjoyment of your space.
• There are hundreds of decluttering and organizing methods; find one that matches your timeframe and fits your lifestyle.
• Remember, you don’t need to purchase anything fancy to get your home in order now.
• Gather your family or friends to get involved with decluttering too.

Simplifying your belongings, decluttering your life and organizing your possessions for maximum appeal and use has gone beyond cleaning up and has become a culture with books, TV shows, podcasts, social accounts and apps. Whether you’re prepping to sell, downsizing, freeing up your space, or looking to relieve stress and anxiety and save money, having a clean and organized home is shown to improve your mental health and be well worth the effort.

But sorting through the best methods for decluttering can be overwhelming on its own, and finding one that best motivates you and works within your lifestyle can be tricky. To help, we’ve combed through the latest decluttering trends and picked our top eight proven methods for getting rid of items weighing you down and getting organized so that you can live in a space you truly love.

1. KonMari Method

Ideal for: those who have a hard time letting go of items.

The KonMari Method of tidying up focuses on keeping the items that “spark joy” in your life and letting go of the rest.

Here’s how:

1. Commit to tidying up your home, office, etc.
2. Picture your ideal lifestyle.
3. Discard items prior to organizing.
4. Begin to tidy by category of items, e.g. clothes, books, papers, miscellaneous items and sentimental items.
5. Declutter these categories in order.
6. Ask yourself, “Does this item spark joy?” If not, it’s time to thank the item and let it go.

2. Ski Slope Method

Ideal for: those who get overwhelmed by the amount of work.

If decluttering feels like staring down a black diamond on new skis, the Ski Slope Method is for you. Instead of taking the room as a whole, this system has you going side to side across the room, similar to how you would ski down a steep slope.

The Ski Slope Method allows you to focus on small sections of space at a time, preventing you from feeling overwhelmed by the amount of work to do and offering a structured process. It also ensures that you’re being very thorough in your cleaning and organizing.

Ideal for: those who are looking to get seriously organized.

The Core 4 Method turns your decluttering and organizing into four simple steps:

1. Clear out: remove every single item from the space
2. Categorize: sort items into categories (professionals suggest creating zones with labels or post-its to help keep things organized)
3. Cut out: as you sort, declutter unwanted/unneeded items into toss, sell, donate piles
4. Contain: sort all your items into bins and containers and put them away

The beauty of this system is that the decluttering process is also the organizing process. By keeping like-items together and creating dedicated zones for categories, it’ll be easy to find what you need and keep your space organized in the future.

4. 20/10 Organizing Method

Ideal for: those who have trouble staying focused.

Whether you’re dedicating a day to getting your house together or wanting to tackle the problem in small steps, the 20/10 Organizing Method allows you to keep focused on the task at hand without feeling overwhelmed. The idea is simple: spend 20 minutes cleaning, organizing and decluttering, and then take a 10-minute break.

Not only will this break down the process into easy bite-size pieces, it will allow you to step away and take care of other things without feeling discouraged or losing momentum. It’s also fun to see how much you can get down in that time!

5. Swedish Death Cleaning

Ideal for: those who want to downsize and simplify.

Swedish Death Cleaning is not as intimidating as it may sound. In fact, this method of cleaning is based on a minimalist approach that emphasizes comfort while letting go of belongings that are no longer needed or valued.

First adopted by Swedish people, this method encourages the clearing of your unwanted or unused items so that eventually others won’t have to do it for you. Although it’s common to initiate this type of cleaning around middle age, it’s always a great time to begin tidying! Here are all the details on the Swedish Death Challenge, so you can start to clean up your house.

6. The Four Box Method

Ideal for: those looking for a quick, easy process.

All you need to begin the Four Box Method of tidying up is four boxes! This simple method of cleaning involves using four boxes labeled:

• Donate
• Trash
• Relocate
• Storage

Once you have your boxes set up and labeled, go to a room or closet in your home and begin sorting your items. When everything has been placed in a box, you’ll move the items to their new location and move on to the next room with empty boxes ready to be filled.

This method is great for those who might have decluttering anxiety. Because you have options on what to do with each item, you don’t feel as pressured to make a stark “keep or trash” decision.

7. 12-12-12 Challenge

Ideal for: those who don’t have time or want to declutter over time.

Similar to the Four Box Method, the 12-12-12 challenge prompts you to find:

• 12 items to toss
• 12 items to donate
• 12 items to put away

This is a quick and creative way to declutter your home without the commitment of going through an entire room. So, whether you and your partner have a friendly cleaning competition or you incentivize your kiddos to complete their portion of tidying, you can get the entire household to join you on this cleaning feat.

The best part of the 12-12-12 challenge is that you can do it as often as you like — you can try it every day for two weeks to start, and then less often as your home becomes less cluttered.

8. Packing Party

Ideal for: those who are serious about having a fresh slate.

Perhaps the most aggressive approach to decluttering, having a Packing Party is great for those who are ready for drastic change (or, for those who are actually moving). This strategy has you packing up everything you own as if you were moving, then removing the items you use over a set period of time (most often a month) and getting rid of the rest.

The appeal of this process is that you’re approaching decluttering differently. Instead of evaluating each item’s place in your life, you’re looking at your life and choosing the items you need. This time-consuming process can make you feel unsettled, but those who commit come out swearing it’s changed their lives.

Ready to tidy up?

Whether you’re on a mission to get organized or you’d like to get your home in tip-top shape before you list it for sale this year, these eight methods of tidying up will help you get a jump start on your cleaning process. For additional guidance on home sale preparation, reach out.

Key Insights

• As buyers search online for available properties, they may find themselves asking, “Do I need a REALTOR^®?”
• From understanding the market and the buying process to negotiations and regulations, there are dozens of benefits to hiring a real estate agent.
• When you hire a REALTOR, you are hiring an advocate with a fiduciary duty to you and your best interests.

Do I need a real estate agent?

Now that anyone can search for homes online and follow up-to-the-minute market inventory alerts, many buyers find themselves asking, “Do I need a REALTOR when buying a home?”

The reality is that there are dozens of benefits to using a REALTOR. From in-depth market insights, negotiation and bidding expertise to access to pre-list inventory, buyers will often find that hiring a REALTOR is a necessity for protecting their interests and successfully securing a home.

REALTOR advantage #1: Market knowledge

Real estate agents spend hours upon hours touring homes for sale each week, which means they have in-depth insights that you simply can’t find online. Because they know what homes are selling for — not just what they are listed for — one benefit of using a REALTOR is that they can help you find the “sweet spot” that will allow you to purchase a home that matches your price range and timeline.

Furthermore, they have access to information and data available only to real estate professionals – and the expertise to interpret what it means and how to use it. For example, how “days on market” impact what a buyer might offer on a home.

REALTOR advantage #2: Access to homes coming on the market soon

Real estate agents are natural networkers who love to talk houses, and they often clue each other in on “pre-list homes,” which are listings that will be coming on the market in the upcoming weeks. Agent-to-agent connections are the number one way properties are successfully bought and sold – 90%* of Edina Realty’s transactions include both a buyer's agent and a seller’s agent.

When you work with an Edina Realty REALTOR, you’ll benefit from a network of more than 2,000 agents who live and work in every community across Minnesota and western Wisconsin — and keep each other up-to-date on upcoming homes for sale. You’ll also have access to NetworkONE, an online, pre-market listing network that gives clients a premarket advantage. As demand continues to outpace the supply of homes for sale, and buyers are competing over a shortage of homes for sale, and having insights on pre-list homes can be a major advantage.

REALTOR advantage #3: Bidding and negotiations

Because today’s inventory is so low, many homes are going into multiple offers — and buyers who don’t hire a REALTOR tend to struggle when it comes to finding a winning bidding strategy.

Real estate agents have acute market knowledge and intel on local sales numbers that go well beyond the local sales numbers the general public can find online. Because they live and breathe home prices and sales, REALTORS can help buyers determine how much to bid so they win the sale without going thousands of dollars over the second bid. Furthermore, they understand that price isn’t the only thing that sellers will negotiate. There are many terms a buyer can negotiate to stand out and win the home.

REALTOR advantage #4: All those little details

It can be easy to spot a sagging roof or a crack in the foundation, but there are thousands of little details that most buyers don’t know to look out for when touring a home. If you find yourself asking, “Do I need a real estate agent to buy a house?” then you may also want to consider how much you know about:

• Radon laws and regulations
• Plumbing, sump pumps and septic systems
• Water or storm damage
• Wiring, gas and electrical issues
• Zoning laws and contractor regulations
• Homeowner’s associations (HOAs)
• Liens
• Required inspections and disclosures

Simply put, the benefits of hiring a REALTOR often come out when they illuminate hidden flaws in a seemingly perfect property and help you avoid pitfalls.

REALTOR advantage #5: Trusted partners and resources

Your agent can recommend trusted partners in mortgage, title, insurance, construction, home inspections and more. They can also guide you to use secure systems for closing to help keep your assets and finances safe.

Your agent is also an ongoing resource after you buy your home. They can answer questions and recommend home improvements or simply provide advice and resources for your homeownership needs.

Ready to get started?

A home purchase is likely your largest financial decision – not to mention one of the most exciting (and sometimes stressful) experiences of your life. If you’re ready to connect with an agent and start the home-buying process, reach out to get started.

*Based on closed sales data (excluding new construction sales) from Edina Realty for 5.1.2023 – 4.31.2024 in Minnesota and Wisconsin.

Key Insights

• Closing can be an exciting, but stressful process that can go more smoothly the better prepared you are.
• The closing process is different for buyers and sellers, and each party will need to bring different things to closing.
• Working with a REALTOR^Ⓡ will ensure that you’re hitting all the marks on your closing checklist.

Closing on a house checklist steps + what to bring

Buying and selling a home can be a stressful process, and closing day can be especially nerve-wracking. Luckily, there are ways to ensure it goes as smoothly as possible with this closing checklist and working with a trusted title company like Edina Realty Title.*

This article will better prepare you for closing day by helping you understand the closing process and what to expect. Our real estate closing checklist will ensure you have everything you need so you can go to the closing table confidently.

What to do before closing on a house

It's crucial for both buyers and sellers to be well-prepared for closing. This will help ensure a smooth transaction and prevent any last-minute hiccups that could occur from not doing the proper work that’s required prior to closing.

While the process varies depending on whether you’re the buyer or the seller, it’s equally important for both parties to do everything they can to prepare for the closing and prevent lost time during the actual closing process.

Things to do before closing on a house if you’re a buyer

• Schedule inspections and appraisals
• Do a final walk-through
• Review your closing disclosure
• Ensure all contingencies are taken care of
• Finalize financing
• Get homeowner’s insurance
• Determine how you’d like to pay for the down payment, closing costs, taxes, etc. (a certified check or cashier’s check works, but you may also do a wire transfer in advance)
• Assemble all documents and items needed for the closing table
• Electronically sign any closing documents you can
• Contact the closing agent for any specific instructions (note: if you have a real estate agent, they’ll do this for you!)
• Check-in with your REALTOR (and attorney, if you have one) to see if there are any last-minute items you need to attend to

Things to do before closing on a house if you’re a seller

• Take care of contingencies
• Work with the buyer’s inspectors and appraisers
• Complete any repairs you may have agreed to perform
• Perform a title search
• Inform utility companies of a final service date
• Find out closing costs (transfer tax, escrow fees, title insurance, etc.) and prepare funds via cashier’s check or wire transfer
• Plan your move
• Electronically sign any closing documents you can
• Contact your lender to start the mortgage payoff process (your title company will likely do this)
• Connect with your agent to see if there’s anything else you need to do before closing

Note: don’t cancel your homeowner’s insurance policy until the property has been officially transferred

An important note about cyber scams

Cyber fraud in the real estate industry is on the rise. It’s important that all parties of the transaction, including buyers and sellers, are aware of the risks. These fraud attempts are pervasive, convincing and constantly evolving. Many sophisticated parties have been duped. Prevention is key—always work directly with your lender and ask your agent if you have any questions.

If you receive wire instructions by email, do not send money to that account and contact your lender immediately. Edina Realty Title will never send wire information via email, ever!

What happens on the day of closing? House closing checklist

Closing often takes place at a title company. And while buyers will most likely need to attend to sign original loan documents, the sellers might be able to complete their house closing checklist online. There are also situations where the seller’s real estate agent can hand over any completed, signed paperwork in place of the sellers.

Depending on the mix of people who attend—the closing agent, buyer, buyer’s agent, seller and seller’s agent—the closing process might vary in terms of length and order, but there are a few things you can expect to check off on your closing day checklist.

1. Provide documents: The closing agent will make copies of your ID and other important documents like your proof of homeowners insurance and a copy of the purchase agreement.
2. Set up escrow account: Depending on the terms of your mortgage, you may need to establish an escrow account to hold money to cover home costs like property taxes and homeowners insurance.
3. Transfer required funds: Hand over your cashier’s check or proof of wire transfer.
4. Review and sign documents: You’ll be asked to sign a number of important documents—this will take up a big portion of the closing process. You can help move things along by reviewing and electronically signing any documents you can before the closing date.
5. Receive/give keys: The official handoff! You’ll receive the keys, codes and garage door openers of your new home.

Things to bring to closing checklist for buyers

Closing is an exciting time for homebuyers—you’ve probably been dreaming of this moment since you first started searching for your new home and it’s the last step before you can start making the home yours. But with all that excitement probably comes some nerves and anxiety.

One way to lessen those fears is to feel prepared by triple-checking this closing checklist for buyers. Make sure you are constantly checking all communications (a title company like Edina Realty Title will reach out with reminders) and keeping in touch with your REALTOR so you don’t miss any last-minute changes or requests for items to add to the following buyers' checklist for closing.

• A valid photo ID
• Your social security number
• A checkbook
• Proof of homeowners insurance
• A copy of the contract with the seller
• Certified check, cashier’s check or receipt of wire transfer for the downpayment, closing costs, taxes, etc.
• Any other materials requested by the bank
• Home inspection reports
• Closing Disclosure

Things to bring to closing checklist for sellers

Selling a home can cause a great mix of emotions. Maybe you’re excited to start the next chapter of your life, but you might also be feeling sentimental about the memories you’re leaving behind. Sellers are probably also very busy getting their home packed up, repaired and ready for its new occupants.

Reduce the amount of stress by taking one thing off your list and gathering all the items from this checklist for closing on a home and having it ready to go so you aren’t scrambling trying to find what to bring to closing hours before you’re scheduled to close.

• A valid photo ID
• Keys, codes, garage door openers, etc.
• Cashier’s check for closing fees
• Property deed
• Property tax receipts
• Home warranty information, if applicable
• Personal checkbook for incidentals or incorrect calculations
• Proof of repairs

Reach out to Edina Realty for answers to your closing questions

Closing can be a stressful time, and a seasoned REALTOR and reputable title agency can be your biggest asset and advocate during the closing process. Whether you’re just starting your search, ready to list or trying to find a closing on a house checklist, an Edina Realty agent and Edina Realty Title closer can help you move forward.

Reach out for more expert advice on what to bring to a house closing and the answers to hundreds of other questions you might have about buying and selling a home.

*Edina Realty Title is an affiliate of Edina Realty. See Affiliated Business Arrangement Disclosure Statement

Key Insights

• The price of your home can make a big difference in the success of your sale.
• Home equity is up, buyers are competing, and homes are in short supply.
• From repairs to inspections, there are things you can do now to make for a quicker sale later.

Across Minnesota and western Wisconsin, buyer demand and home prices continue to rise while the supply of homes for sale is growing at a slower pace. This mismatch of supply and demand creates a market that gives sellers a significant advantage, especially at lower price points.

It’s clear this summer will continue to be a sellers’ market in most areas. Many of today’s homeowners have record-high equity in their homes, so if you’ve been considering putting your home on the market in the coming months, here is what you need to know to move forward and attract the highest price possible to take advantage of today’s market.

Price your home right the first time

The majority of showing activity occurs within the first two weeks after a home is listed for sale on the market. By pricing your home competitively, you may get more showings and bids upfront – and multiple offers can mean a higher closing price.

While it might be tempting to price your house high, the reality is that if you price your home too high, the listing may suffer from low traffic and fewer bids. Plus, when a buyer sees a home has been on the market for months, they are more likely to underbid in hopes of securing a bargain. To get the best offer, you’ll want to price your home right from day one.

Together, you and your REALTOR® can work to assess your home’s current market value by taking into account:

• The property’s condition and any upgrades you’ve made
• The prices of recently sold properties nearby
• Local market trends and buyer demand

Give buyers what they want

We already talked about getting the price right from the start, but other factors will also influence your home sale's success. Common pitfalls might include:

• An unwelcoming exterior: Consult our curb appeal checklist for help.
• An interior that feels too “lived in”: Stage your home to appeal to buyers.
• A home that needs major updates: See what home improvements pay off, and which to skip.
• Too much stuff: Declutter and increase your storage.

Need to add appeal on a small budget? Focus on these updates so your home stands out:

• Clean and declutter
• Put a fresh coat of paint on the walls (neutral colors are best)
• Make minor repairs like fixing drips, squeaks, stains, scratches and dents
• Swap dated light fixtures and hardware for more modern pieces
• Refresh your mulch and landscaping

Be prepared for inspections

Some cities in Minnesota (around the Twin Cities metro) require a home inspection before the home can be sold. Often referred to as the “Truth-in-Sale-of-Housing” or TISH inspection, the TISH report usually includes a list of fixes sellers will need to complete; it’s focused on risks to life or health that might include plumbing elements and smoke detectors.

When considering offers from buyers, you may see contingencies like a buyer making an offer contingent upon it passing a home inspection. It’s important to understand what a buyer’s home inspection might include so you can prepare in advance.

Stay plugged in

An informed seller is an empowered seller. Whether it’s your first time selling, you’re helping a family member or trying to time a sale and a purchase, your REALTOR can play an instrumental part in getting the price and terms you want as you move forward.

Reach out to begin the process of selling your home for top dollar.

Key Insights

• Make sure your potential property meets all your must-have features.
• Weigh the pros and cons to ensure you’re happy with your home.
• Once you’ve made a decision, stop looking! It’s easy to let regret take root when you’re looking at what could have been.

Buying a home is likely the biggest purchase you'll ever make, and you’ll want to take the appropriate steps to prep your finances before you begin your search. And while there are a lot of things to consider when buying, here are three top insights you can use to ensure you get it right and don’t end up with homebuyer’s remorse.

1. Create a preliminary list of “must-have” criteria

The first step to buying a home is to list out the criteria you must have, and then create a secondary list of features that would be nice to have. Keep in mind that you’ll have additional considerations if you’re buying a condo or townhome.

Consider:

• Standard features like bedrooms, bathrooms, square footage and garage stalls
• Amenities like an updated kitchen, hardwood floors, central heating and cooling
• Cities, neighborhoods and school districts
• Commute times, proximity to major thoroughfares
• Distance to grocery stores, gyms and commercial areas
• Distance to parks, trails and nature areas

2. Fine-tune your search

While it’s critical that buyers make a move when they find a home that meets their needs, one surefire way to have homebuyer’s remorse is to make an offer when you’re not sure it’s the right fit.

Once you’ve listed your preliminary criteria, work with your agent to:

• See how your criteria and budget match up to today’s inventory
• Rework and rank your criteria and budget accordingly
• Open up your search to include new home types or areas
• Tour homes and assess their pros and cons

You may feel pressure to move quickly in today’s competitive market, but you should still assess each decision carefully and weigh the pros and cons. If your heart was set on Golden Valley because of its proximity to your downtown Minneapolis job, would you be happy living a bit further west in Plymouth? Would you prefer a smaller three-bedroom home, or a larger two-bedroom home with a fully finished basement that could be converted?

Realistically, you may be “stuck” in this phase for a while, but it’s important to consider any potential pitfalls of the property before you start your negotiations. You want to be confident in your decision, and that means walking into the deal with your eyes wide open (getting a home inspection can also help with this).

3. Once your offer is accepted, stop looking

After months of searching, it may be habitual to search for homes on EdinaRealty.com, even after your offer has been accepted. Don't do it! There will always be new homes for sale, but as you’ll learn from touring homes, what you see online is not always what you get in person.

Once your offer is accepted, delete your saved searches and properties and focus on your new home – the one you loved when you put in your offer. If you need an outlet for your new-home excitement, start planning out your new home’s layout, decor and yard.

Get started!

Ready to see what’s out there? Begin your search to see what homes match your desired features and neighborhoods and reach out for expert guidance.

Key Insights

• An estate sale is like a large-scale garage sale that can sell high-end, new, expensive or sentimental personal items.
• You can hire an estate sale company to manage your estate sale for you.
• Managing an estate sale is a multi-step process.

You might have seen signs haphazardly placed around your neighborhood with “estate sale” written in big, bold letters. But until you’ve been to one–or have had to plan one–it’s hard to comprehend how large of an operation it is and how it differs from any other types of second-hand sales.

What is an estate sale?

To put it simply, an estate sale is a way of selling personal items. Think of it like a large-scale, more formalized garage sale. Similar to a garage sale, estate sales often take place on the person’s property (though an estate sale will typically leave items inside the home for viewing rather than lugging them onto the front lawn).

The biggest difference between a garage sale and an estate sale is that a garage sale is held because people have unwanted items they’d like to get rid of, but an estate sale occurs because the items need to be sold. This often means that well-loved items go up for sale, even if they are high-end, new, or represent a significant purchase.

Estate sales can be held for a variety of reasons. Boomers moving into senior living, empty nesters downsizing, moving to warmer weather or to be closer to family, and workers relocating for jobs are just a few groups who might engage in an estate sale. However, for most, an estate sale is brought on by the death of a loved one.

When to bring in a third party

Estate sales are a lot of work, and for those who are unable, unwilling or working with other beneficiaries, bringing in a third-party estate sale company to manage the sale might be a good idea. Not only does hiring an estate sale company take the burden off, but estate sale companies can often plan estate sales more quickly and more accurately appraise items for sale to ensure beneficiaries are getting top dollar. This is especially helpful if you’re handling an estate sale for a loved one who didn’t follow an estate planning process before passing.

Estate sale companies may charge 30-50% of the gross sales, but often don’t charge a flat fee or require you to pay upfront. They may also deal with other aspects of clearing a property, but you’d need to talk with the company to see what services they offer.

If you choose to go with an estate sale company, be sure to ask the right questions and do your research to avoid getting scammed.

How to plan for an estate sale

If you inherited a property and want to run your own estate sale, there are a number of steps to take and things to keep in mind.

Establish the items you want to sell and price them strategically: Look at eBay, thrift stores and consignment shops to get prices, or (as a rule of thumb) mark them at about 50-70% of their retail value. For special items, you might want to get an appraisal. Either way, establish the lowest price you’re willing to take and remember that negotiating prices is a big part of estate sales.

Advertise the sale and check with local ordinances: Advertise your sale by hanging flyers, buying ads in the local paper, establishing a website (list your best items with pictures, descriptions and prices), posting on social media, and placing plenty of those yard signs. Be sure to check your local county ordinances for rules and regulations and obtain any permits you may need to host an estate sale.

Stage to sell: Clear out the space for buyers, clean up the items you're selling and price them clearly, and organize the items so they’re easy to find and poised for maximum sales.

Make a clean-up plan: Decide what to do with the items that don’t sell–are they worth bringing to a consignment shop or an auction house, or is it better suited to the donation pile? Keep in mind that some items may not be accepted by donation centers and may have to be sent to a recycling center or dumpster.

Think about what will happen after the sale

Once the estate sale ends, you’ll be left with an empty space. If your plan is to sell, it’s better to work with a REALTOR® early on and take advantage of their expertise. Reach out to get started on selling your property so you have plans in place to move forward.

Key Insights

• Home insurance rates have seen historic rises over the past few years due to increased claims, severe weather and rising repair costs.
• There are many factors that carriers take into consideration when determining your coverage and rates.
• While insurance costs aren’t what they used to be, there are ways you can help lower your premiums.
• Partnering with an independent insurance agency like Edina Realty Insurance* can help you find the coverage you need for the lowest price and best coverage possible.

Scott Teece, Vice President of Sales, Edina Realty Insurance

It’s not just you, and it’s not in your head; insurance pricing and premiums have been rising rapidly over the past few years—some in the double digits. These historic rate increases mean some homeowners aren’t able to afford the same coverage as before. Or, even if they can afford the increases, in many cases the coverage has lessened. There are a few reasons for these increases—and some steps you can take to manage your insurance costs.

Why insurance is changing

2022 and 2023 held the most insurance claims seen in years. While this is true across the insurance industry, for home insurance, an increased frequency and severity of storms, natural disasters and wildfires have put a significant strain on insurance carriers who weren’t anticipating fulfilling the exorbitant amount of claims filed. Outside of the rise in claims, inflation has also caused repair costs to increase (both in labor and materials), making it more expensive to return properties to their previous state.

As a result, insurance companies are raising rates and lowering coverage for two primary reasons:

1. To recoup their losses from claims filed over the last few years.
2. To return to a position of profitability (rate adequacy).

Some insurance companies have even begun using technology like drones to survey homes and determine if they are in good enough condition to insure. It’s not uncommon for inspections to occur before coverage is offered, and a refusal to renew coverage has become more mainstream.

What impacts your coverage

There are a lot of factors that a carrier may consider when determining your premium and contract, but they primarily fall into three categories: home, owner and coverage.

Home factors: What is being insured

• Location: Coverage can vary wildly by location, even as targeted as a neighborhood. If the location of your home has a history of losses, is close to water, has severe weather, vandalism or theft, it can increase costs. On the flip side, factors like living near a fire station could lower costs.
• Age of home—especially the roof: The condition of the roof is a huge concern to insurers. It’s the #1 indicator of future claims.
• Size of home: The more there is, the more that can need repair.
• Safety features: This includes home security, as well as yards clear of debris, well-lit paths and steps with railings.
• Condition of home/Construction of home: The better condition the home is in, and the higher the quality of construction, the less likely a claim will be filed. Your home doesn’t have to be new, but the upkeep of the home should be evident.
• Attractive nuisances: These are potentially dangerous features that might look attractive. For example, a pool, trampoline or tree house. Most HOAs have regulations that negate any worries a carrier may have (like a net around the trampoline or fence around the pool), but they could still be a factor in your coverage.

Owner factors: Who is being insured

• Credit history: Some states will use your credit score as an indicator of your reliability to pay, however, other states prohibit carriers from using this information. (In MN and WI, carriers can use credit history.)
• Previous claims history: Insurance companies tend to believe that if you’ve filed a claim in the past, you’re more likely to file one in the future.
• Marital status: Statistics tend to show that married couples file claims less often than singles. It also helps if there are two incomes and/or two sets of eyes to manage home upkeep.
• If you own or finance: Most lenders require you to have a certain amount of coverage, but if you own your home, you have control over how much coverage you want to have.
• Pets in the home (especially certain dog breeds and exotic animals): The risk for injury that could result from a pet (like a dog bite) can be a factor for some carriers.

Coverage factors: How it’s being insured

• Your deductible: A high deductible usually means a lower premium. The reverse is also true. (Though higher rates for both have been common recently.)
• Type of insurance policy: The more coverage your policy provides, the more money you can expect to pay out to your insurance company.

What homeowners can do

The situation might seem discouraging, but there are ways you as a homeowner can help keep costs lower.

Be proactive

Check on your renewal date and start comparing options about 45 days before your renewal. You’ll need to make your decision two to three weeks before your renewal date to ensure consistent coverage. Switching carriers isn’t a difficult or lengthy process, but you want to make sure you don’t have any gaps in your coverage.

Be diligent about reviewing your contract and pay special attention to any language that’s changed. Call your agent for clarification about any changes you don’t understand. Ask if increasing your deductible would help with costs and if that’d be the right move for your home.

Shop around

There is no reason you shouldn’t be shopping around for insurance. Even those who have been with a company for a long time may benefit from switching by getting new customer discounts. Rates from two or three years ago are unheard of now, but that doesn’t mean you won’t be able to find a better rate or more coverage with another carrier.

Ask about the different discounts you could get, like bundling home and auto, veteran’s discounts, new member discounts, senior discounts, etc. Every little bit helps.

Again, there’s no reason not to shop around, so look around and see who’s competitive.

Be upfront

The more information you can give upfront to an insurance company, the better. They’ll ask for your personal identifying information (birthday, history at location, etc.), the square footage of your home, the age of your roof, if you have a finished basement, pets, fences, railings, a pool, etc.

Be prepared that your home will be inspected and make sure your yard is clean and free of debris. You may even decide that it’s time to get rid of some of your attractive nuisances. Ask for the inspection results and any recommendations the company may have so you can make improvements and get a feel of how insurable your home is.

Start saving

The reality of the situation is that coverage and cost just aren’t what they used to be. You’d be wise to start saving for big item repairs like a roof to avoid additional cost increases. It will help you with general upkeep to file fewer claims and help meet those high deductibles when you can’t.

Partner with a broker who looks out for you

Insurance companies are about their bottom line, but insurance brokers like Edina Realty Insurance are about getting you the coverage you need at an affordable rate. As an independent broker, Edina Realty Insurance works with A-ranked insurance providers that you can trust and they advocate for your interests.

Edina Realty Insurance consults with each consumer to make sure they know what they're buying and what they need, and your partnership with them doesn’t end once you’ve chosen a carrier. They’re there to help you figure out everything about insurance like what makes the most financial sense when debating to pay out of pocket or file a claim for a repair.

A great bonus of working with Edina Realty Insurance is that if you’ve bought a home using an Edina Realty agent, they already have much of your information on file so you don’t have to dig up facts like square footage or age of the roof.

There’s no reason not to reach out for a quote. A quick conversation with an Edina Realty Insurance agent can help take the work out of getting quotes and finding the right coverage at the right price. Reach out today for a quick conversation about your insurance needs.

*Edina Realty Insurance is an affiliate of Edina Realty. See Affiliated Business Arrangement Disclosure Statement

Key Insights

• Luxury can be in the eye of the beholder, but these are the most popular 10 luxury home features we’re seeing.
• Dedicated spaces like a state-of-the-art home theater, wine cellars and tasting rooms and private gyms and yoga studios meet the needs of busy professionals and enthusiasts.
• Luxury home amenities such as a smart home automation system, heated floors and towel racks, indoor pools and spas and panoramic views with floor-to-ceiling windows are important to luxury living.
• Outdoor kitchens and entertainment spaces, expansive walk-in closets and rooftop gardens and terraces all add a touch of lux to homes.

If a homeowner is the king or queen of the castle, shouldn’t the home be full of little luxuries? Luxury home features aren’t reserved for mansions; they can be part of even modest homes. Some of the most popular trends include:

• Smart home automation systems
• Heated floors and towel racks
• Outdoor kitchens and entertainment spaces
• Indoor pools and spas
• State-of-the-art home theaters
• Wine cellars and tasting rooms
• Private gyms and yoga studios
• Expansive walk-in closets
• Rooftop gardens and terraces
• Panoramic views with floor-to-ceiling windows

A modern luxury home shows a level of care and attention to detail that’s hard to ignore. But as times change, what are considered luxury house amenities change too. Advancements in technology and the aftermath of COVID-19 have had major impacts on what luxury house items are craved by buyers.

Here are the top 10 luxury house features that you’ll be seeing in listings all over Minnesota and western Wisconsin.

Smart home automation systems

A smart home automation system is like having your own butler. Integrating cooking appliances, lighting, heating and cooling, security and entertainment can turn basic homes into contemporary luxury homes. Imagine your blinds rising in the morning to allow the sun to gently wake you up, your oven to start preheating on your way home from work, or your entertainment system incorporating surround sound and specialty lighting effects for an immersive experience.

A smart home automation system offers convenience and efficiency. It can also save you money by adjusting temperatures and turning off lights. A smart home can add a layer of security by implementing safety features like turning off electricity to an iron after a set amount of time has passed and locking doors at bedtime.

Heated floors and towel racks

Any bathroom can turn into a spa with heated floors and towel racks. Luxury home amenities like these might seem like indulgences, but they make mornings so much more tolerable when you live in a cold climate. Heated floors can be used in other areas of the home, too. Laundry rooms, kitchens and other high-traffic areas are great candidates for heated floors.

If you’re a seller making some fixes, consider incorporating heated flooring during your updates for a truly luxurious home.

Outdoor kitchens and entertainment spaces

After being cooped up indoors during a long, harsh winter, there’s nothing better than enjoying the great outdoors when warmer weather finally arrives. Having an outdoor kitchen and entertainment space allows for maximum outdoor time with friends and family. For those who own beautiful luxury homes, being able to host social gatherings both indoors and outdoors is a great bonus that increases the functionality of their outdoor space and makes the most of our Minnesota and Wisconsin summers.

Indoor pools and spas

A pool and spa appeal to people at all stages in life, whether they’re used for fun, exercise or health benefits. Add in the opportunity for year-round use and it’s no surprise that indoor pools and spas often feature prominently in luxurious houses. Having a privately owned pool and spa allows for customization you can’t get elsewhere, like the materials and style as well as the temperature and chemicals used. Not to mention the convenience of having it right at home, the ability to use it whenever you want and the privacy you’ll enjoy.

State-of-the-art home theaters

A dedicated home theater is all the rage these days, with big, oversized chairs, wall-sized screens and integrated sound and lighting. With many blockbusters streaming right after release, people across the country are forgoing trekking to the theater for a night in–and not missing out on the theater experience.

Wine cellars and tasting rooms

Any wine connoisseur would love to have a wine cellar and tasting room in their luxury property. Valuable wines need to be stored in specific climates to best preserve the taste, color and quality, and a dedicated space that offers temperature and humidity control allows a wine investment to stay in peak condition to be enjoyed with family and friends.

A luxury home isn’t just about the rooms—it’s about lifestyle and a luxurious house with a wine cellar and tasting room delivers on both.

Private gyms and yoga studios

Busy professionals and fitness enthusiasts love having a private gym and yoga studio in their own home. Designed to motivate and inspire, a dedicated space with all the essentials and favorite high-end equipment allows for convenience and customization. Luxury home features like a private gym and yoga studio are perfectly on trend with the focus on health and wellness seen in the last few years.

Expansive walk-in closets

Luxury contemporary homes wouldn’t be complete without an expansive walk-in closet. Bespoke organizational systems not only provide storage, but they also allow an owner to showcase beloved accessories like sunglasses, purses, shoes and more. Large closets can be broken up to include additional spaces, like a dressing area, vanity or seating area to personalize the space and utilize it for optimal functionality. Lighting and personalization are also key components of upscale walk-in closets.

Storage is a highly desired benefit for any homeowner, and expansive closets featuring quality materials can set a luxury property apart.

Rooftop gardens and terraces

For a modern luxury house in an urban setting like Minneapolis, a slice of outdoor greenery via a rooftop garden and terrace is a welcome respite from big-city living. Rooftop gardens and terraces can suit a large range of styles and purposes from zen gardens to outdoor kitchens, and they can be a private oasis for entertaining or relaxing. Regardless of the landscaping, rooftop gardens and terraces provide a unique opportunity to bring the indoors outside–while enjoying the view.

Panoramic views with floor-to-ceiling windows

With more than 10,000 lakes, Minnesota has no shortage of cities with beautiful luxury homes with equally beautiful views. Architectural marvels like floor-to-ceiling windows provide panoramic views of scenery all from the comfort of your home. Bringing in natural light and nature through large windows is a known mood booster and ties the outdoor space and indoor space together for a seamless experience.

Invest in your next luxurious home with Edina Realty

This list is by no means exhaustive, especially as luxury can be in the eye of the beholder. Luxury home features like a sports court may appeal to one family while another seeks a chef’s kitchen or a five-car garage. However, these 10 luxury house items have stood the test of time and are very desirable to buyers seeking contemporary luxury homes.

Finding the perfect modern luxury home that suits your lifestyle requires a discerning eye and a professional agent who is well-connected, knows the local area and has experience with luxury properties. Reach out today to learn more about the beautiful luxury homes available in your area.

Key Insights

• Recording laws are different across states.
• In Minnesota and western Wisconsin, it’s legal to secretly video record in your home, but you are not allowed to record audio.
• If you intend to video record during a showing, be sure to turn the audio recording function off.
• Keep in mind that it’s illegal to videotape a person where there is likelihood of recording them in a state of undress (for instance, a bathroom).

Homeownership can be complicated, but we also think it’s one of the most rewarding ventures out there. In our series Ask an Edina Realty Lawyer, we are hoping to demystify some of the trickier aspects of buying, selling and owning a home.

In this edition, one of our lawyers discusses the legality of sellers using hidden cameras or other recording devices while a potential buyer tours their property.

Dear Edina Realty Legal,

My home is currently listed for sale. I have a couple of hidden cameras for security purposes but have been told that it is illegal for me to have the cameras on when I have open houses or showings. Is that true?

Well, that’s partly true and partly not. When it comes to hidden cameras and other recording devices, each state has its own rules. For this article, we’ll just focus on those rules applicable to Edina Realty’s primary areas of Minnesota and Wisconsin.

In Minnesota and Wisconsin (and many other states) it’s important to distinguish between the recording of video only and the capturing of audio of conversations.

As a general rule, you are allowed to videotape (even secretly) in your own home.

There are a number of legitimate reasons a homeowner may want to install a hidden camera in their home. A camera could capture video evidence in case of a burglary, or the homeowner might want to keep an eye on their kids or pets.

For the most part, it is perfectly legal to have a camera taking video of what occurs within your home. This is true even if the camera is capturing video of someone without their knowledge. One big caveat to that general rule is that you are not permitted to place a camera with the intention or likelihood of capturing a person taking their clothes off — for example, in a bathroom.

However, you can’t typically record audio without the speaker’s knowledge or consent.

While it is generally permissible to record video, state regulations treat the recording of audio differently. In Minnesota and Wisconsin, it is against the law to use electronic means to intercept an oral communication when it is made with the reasonable expectation of privacy. These laws are generally focused on wiretapping but can be applied more broadly.

An oral communication can be a conversation between two or more people, so a conversation between prospective buyers of your home and their agents would appear to fall into the definition of an oral communication.

So, in short, it’s generally ok to have a video camera in your home. However, if you’re going to have showings and open houses, you should adjust your camera settings to not record the audio.

Note: There is an exception to the law that allows a party to a conversation to secretly record a conversation — but you are not a party to the conversations between potential buyers and their agents.

The Edina Realty legal department serves as in-house counsel for Edina Realty and does not represent private clients. This article is not intended to provide legal advice.

Key insights:

• Historically, home sellers invested in improvement projects before listing to generate more interest in their property.
• Today’s sellers hold a keen advantage in the market, so they should be sure to update only what is necessary before listing their home for sale.
• Data shows that some of the least expensive projects — such as a new garage door or a new front door — can have the greatest impact on a sale.

You’ve likely seen the headlines: Today’s sellers are getting 99.3% of their asking price in the past 12 months, which means that they hold a big advantage in today’s market. With this news, you may not plan to update anything on your property before you list it for sale. If your home is in the right neighborhood and in good condition, this may be just fine! But if your home is outdated, you may get an even higher bid if you give it a little polish before selling.

But which projects can have the biggest impact for sellers? Shouldn’t some updates be reserved for homeowners who plan to stay in their homes and enjoy them for a few years?

These are the questions we asked as we dove into the 2023 Cost vs. Value Report (www.costvsvalue.com). This exhaustive report details the cost and value of home improvement projects across the country, and they even break the data out by region and city.

Based on that report, here are the projects Twin Cities homeowners should take on if they want to recoup the most on their initial investment.

1. Fiberglass grand entrance

Cost: $10,823

Resale value: $5,238

Cost recouped: 97.5%

Replacing a standard entry door with a more grand entrance can add a lot of curb appeal to your property. Fiberglass’ unique material keeps it energy-efficient and durable while being highly customizable, even able to mimic wood grain.

Start by removing the standard entry door and then cut and reframe the door opening for a larger door with dual sidelights. Customize the entrance with upscale finishes like color, threshold, lockset and decorative half-glass with sidelights.

An upscale fiberglass entry adds a big “wow” and should only take a day to complete.

2. HVAC conversion to electric

Cost: $18,328

Resale value: $17,615

Cost recouped: 96.1%

If your system is in need of an update, converting to an electric HVAC operating system may be a sound investment.

While not the most glamorous home update, a new HVAC system that runs on electric instead of gas can offer a big return when it comes to home resale. An electric HVAC system improves air quality and lowers energy bills over time. Switching to an electrically-powered system provides greater safety and peace of mind than their gas-powered counterparts, which produce carbon monoxide. They also have a longer life span and are energy-efficient while operating quietly and providing lower maintenance costs.

In addition to having lower upfront costs to install, tax incentives and rebates may help lower your initial bills.

3. Manufactured stone veneer

Cost: $11,463

Resale value: $10,582

Cost recouped: 92.3%

If you’ve seen new construction homes over the last few years, you know that partial stone veneers are all the rage. Current homeowners can also freshen up an aging exterior by adding a stone veneer accent to the bottom third of their home.

To complete this project, you’ll first remove the bottom third of siding from the street-facing side of your home exterior then replace this area with a stone veneer, including sills, 40 corners, an address block and a detailed faux-stone archway around the front door. The installation also includes protection against water damage and corrosion.

You’ll be amazed at how this easy stone addition gives your home’s exterior a modern facelift!

4. Siding replacement (vinyl)

Cost: $17,813

Resale value: $15,950

Cost recouped: 89.5%

New siding can be a big selling point to potential buyers. It not only aesthetically updates a home and adds curb appeal, but when using vinyl, can add additional benefits like preventing pests and adding insulation for more energy efficiency.

Installing vinyl can mean years of maintenance-free living for owners. Vinyl is durable, low-maintenance and comes in a wide variety of colors and textures to best showcase a home.

As a benefit to sellers, it’s also cost-effective and easy to install. Note that not all vinyl siding is the same, and you’ll want to pay close attention to creating a water-resistant barrier.

5. Minor, mid-range kitchen remodel

Cost: $27,009

Resale value: $22,784

Cost recouped: 84.4%

A modest kitchen upgrade can better maximize space, increase accessibility and provide enough of a cosmetic improvement to bring a dated kitchen back to life.

Replacing a number of key appliances, cabinet/drawer faces and hardware, along with cost-effective flooring and counters and a fresh coat of paint on walls, trim and ceiling can offer buyers a blank slate that showcases the functionality of a crucial space.

Voila! A not-too-expensive update that saves you the cost of all new cabinetry or high-end finishes.

Want more info on the ROI of home projects?

We’ve detailed the five projects with the highest return on investment, but the 2023 Cost vs. Value Report also shared the five projects with the lowest ROI in the Twin Cities. If you plan to move soon, you may want to avoid adding an owner’s suite or a brand-new bathroom.

Here are the home improvement projects with the lowest ROI locally:

• Upscale owner’s suite addition (22.8% recouped from budget of $338,195)
• Upscale bathroom addition (25.6% of $109,772)
• Mid-range bathroom addition (27.2% of $60,592)
• Mid-range owner’s suite addition (30.0% of $163,887)
• Upscale major kitchen remodel (31.1% of $152,918)

Wondering what other remodeling projects were reviewed for the Minneapolis region? Check out the complete 2023 Cost vs. Value Report for our area.

Get expert guidance before you sell

Keep in mind that it may be smartest to take on higher-cost, lower-ROI projects only if you plan to be in the home for a few more years. After all, your own enjoyment of these projects can certainly count as a return on your investment!

However, if your updates are solely intended to sell your home faster or for more money, let’s talk before you begin renovations. Reach out for advice on the most cost-effective, impactful changes you can make to your property.

Complete data from the 2023 Cost vs. Value Report can be downloaded free at www.costvsvalue.com, Distributed by Remodeling by JLC, ©2024 Zonda Media, a Delaware corporation.