Market Conditions in Madison>Question Details

Liz, Home Buyer in Madison, WI

We are looking to relocate to downtown Madison for retirement in 5 years. Is the rental in a condo/townhouse enough to cover expenses?

Asked by Liz, Madison, WI Tue Jul 17, 2012

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6
Hi Liz! Rents are rising so that's the good news... however, many of the downtown condos don't allow rents so that will be your only challenge. Make sure you contact a RE/MAX agent to help you! RE/MAX Associates have more real estate sales experience than other real estate agents.

Take a look at http://www.BestAgentFirst.com to find your agent! On behalf of our firm regardless of who you have assist you in your relocation, welcome to Wisconsin!

~Dan Bertelson
Co-Owner & CEO

"Nobody in the WORLD sells more real estate than RE/MAX!"
1 vote Thank Flag Link Tue Jul 17, 2012
Hello,

Downtown Madison is a great place! When choosing a condo it will be important to know what the rental policy is that has been created by the Association. Rentals are extremely popular and I get at least 5 inquiries each week for a Downtown condo rental. Depending upon the building and the size of the unit you could expect between $1100 for smaller units up to over $3000 for penthouse units.

Feel free to call or e-mail me with specific questions on the building you are interested in and I can help you find the average rental prices and rental policies.

Have a good evening.

Mark Gladue
mark@markgladue.com
608.239.5593
http://CapitolSquareLiving.com
1 vote Thank Flag Link Tue Jul 17, 2012
While he does lack social skills, Bill has a point:

5 years is a v e r y l o n g time. Five years ago, we were in the midst of a bursting bubble, prices had a ways to fall, rates were significantly higher; in short: a different world. Five years from now.....

Relative to many other states, Wisconsin is not overly tax-friendly, Madison skews higher on property taxes. Throw in some condo fees, ever- tightening rental rules along with the challenges of being a long-distance landlord and this idea is one to approach with caution.
0 votes Thank Flag Link Fri Jul 27, 2012
Hi-

I would like to thank everyone for their answers except Bill. Hey Bill, I am a savy consumer and can figure out issues myself. Please take your rant out of my question thread. I got what you said the first time. Liz
0 votes Thank Flag Link Fri Jul 27, 2012
I have to agree with Gary Liz, unfortunately the tax burden in Wisconson has become quite high... I believe a year ago we ranked 7th in Country for highest taxes.

I attached a link to a good site that has compiled a lot of this data on exactly what Gary has brought up. Asking questions like that makes him a great option in IL! Either way the Midwest has a lot to offer. Unlike the gentleman whom obviously works as a competitor to our firm, I assure you most are not that rude or insecure in this area. I believe Madison and WI have a good reputation as a friendly and professional place to live.

We do have 11 offices and 70 agents in Madison and surrounding areas. Please interview one if you have the chance! We certainly don't mislead, the statements I have made about our brand and firm are backed with market data and registered claims! :)

Have a great day!
0 votes Thank Flag Link Thu Jul 26, 2012
Liz,
You may want to consider all your options as to where you retire. Some states nearby do not tax retirement pensions. Although I do like Madison very much.
0 votes Thank Flag Link Thu Jul 26, 2012
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