Living in Madison,Wisconsin Real Estate

Affordable Homes in Madison WI

There are a lot of great affordable homes available in Madison, WI today. In fact interest rates are still bobbing around the low mark, which for many people means this is a great time to buy, especially for first-time homebuyers.Whether you work for the University of Wisconsin or private industry, there will be many affordable homes for you to choose from. But, if you want your Madison real estate purchase to be a rewarding event as the years go by, be sure you take into consideration the cost of home ownership.Madison Affordable Homes

The cost of owning a home goes beyond making the mortgage payment and you will want to keep in mind that even affordable homes require a number of additional expenses that typically are not factored into the bank’s calculation of how much you can spend.

Recently Listed Affordable Homes in the $95,000 to $150,000 range.

Everyone's idea of "affordable homes" will be different so below this gallery you will find a link to my pre-configured search page. You can modify these searches by clicking on "modify search" and then changing any of the available search criteria. Using the "advanced search" feature will expand your choices of criteria.

Homes shown below are courtesy of multiple broker members of the SCWMLS. Click on the thumbnail for details including the listing brokerage.

Click Here to See Madison's See All Affordable Homes Currently for Sale

Madison Affordable Homes Offer More than Meets the Eye

So how do we define affordable homes? We all have a tendency to think in terms of what is the highest amount we can spend on PITI (principal + interest + taxes + insurance) when we start checking out affordable homes. But keep in mind there are a host of operating expenses associated with ownership of a home. These include utilities like gas, electric, water & sewer, internet, cable, phone etc., needed to keep living in Madison comfortable. Then there are maintenance and repair costs to consider as well. Homes have yards to be mowed and snow to be cleared, gardens to be planted, hedges to trim, gutters to clear… well, you get the picture.

You can budget for many of these expenses, but there is always the quirky little things that pop up unexpectedly. Your mail box got hit by the plow, creeping Charlie is invading your lawn, the A/C doesn’t seem to be as cold as it was last year and the washing machine fills with water but doesn’t drain. All part of the affordable homes experience.

Your Rainy Day Fund Pays Off with Affordable Homes in Madison

One way to keep the unexpected expenses from getting you down is to expect the unexpected and be prepared for it. From day one…well maybe day two… you can anticipate that you will have operating expenses for your new Madison house…all homes will, in fact all WI properties will. But, if you plan ahead, you can sock away a “rainy day fund” to give you a hedge against the expected “unexpecteds” that most likely will crop up. Try to build a $2,000 to $5,000 cushion in a very liquid account. You’ll sleep much better at night.

Starting at the Beginning is a Very Good Place to Start

Okay, I stole that line from a musical, but when it comes to affordable homes in Wisconsin, it just makes sense. When I have clients looking to buy a house, the first thing I tell them is make sure they have gotten their bank preapproval so at least they will know what their expected PITI payments will be. Then, just because you can theoretically spend up to a maximum amount, doesn’t necessarily mean you have to spend that much. I am a lot more interested in making sure you can enjoy your new home without financially induced sleeplessness than I am in selling you the most expensive home you can theoretically afford.

Nelson & Associates Will Help You find Affordable Homes in Madison & Statewide

Part of being a successful real estate broker is taking the long view. I want my clients to be as happy with their decision five years from now as they are excited the day of their closing. Affordability is the key to making Madison homes a great decision: and great decisions are what makes living in Madison Wisconsin a joy! Contact me today and let’s get to work finding you the most affordable homes in the area.

Jon Nelson Signature for Blog

Jon Nelson, MBA
Principal Broker/Owner
Nelson & Associates REALTORS



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