Buying Tips

Buying a Home in Madison & South Central Wisconsin: Real Estate Buying Tips

Found 220 blog entries about Buying Tips.

If you've been thinking about a new look for your kitchen, you've probably been thinking about replacing your kitchen cabinets. Our team recently met with local business owner Dale Tomalin, who showed us a more cost-effective approach than replacement, and we were impressed by the finished product. 

Dale is the franchise owner of Spray-Net of Southern Wisconsin, creators of a painting technology that is flexible enough to avoid cracking, hard enough to avoid chipping, and smooth enough for washing. Dale's product transforms old kitchen cabinets by giving them a brand new, factory finish look. His work also comes with a 15-year transferable warranty. 

For more information, you can check out Dale's reviews on his Google Business Page. And for a

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If you're thinking of becoming a first-time homeowner in 2023, it can be helpful to think of your home-buying experience as your opportunity to "get your foot in the door". 

buying your first home in Madison WI

In other words, the home you buy this year may not be your perfect home, in your perfect location, and at your perfect price. But it can be the home that helps you "get your foot in the door" for creating a better life -- and building a stronger foundation.  

Just by paying your mortgage each month, and by making the right improvements, you can start building equity right now that will help you move up to your next home a few years down the line. This is the perspective that many of our clients are adopting in 2023, and it’s this mindset that’s helping them experience their

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Who's buying?

Right now we're serving many people who are very motivated to buy their first home and start building a better life through homeownership. Many of these folks are people who have either just started or are getting ready to start their family real soon.

On the other end of the spectrum, we're helping many longtime owners who are getting ready to sell their current home and downsize into a smaller one. These are the folks who are ready to simplify life and ease into a new lifestyle. 

And along these lines, we're also working with many relocating buyers who are working on their dream of living in a community that's a great fit for their values and their lifestyle.

Who's not buying?

We're not seeing as many move-up buyers as we

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Owning a home is about more than having a place to live. It’s an investment, too. And at Mad City Dream Homes we are here to help you make smart decisions when it comes to your real estate investment.

Mad City Dream Homes Realtor Team

For example

We are here to help you choose the home improvement projects that will provide the best return on investment, and help you select the right contractors, too. 

We're here to advise you as to whether or not you should buy an individual property, and share our opinion on its resale value. 

And of course, as students of the market, we're always available to share our perspective on all of the latest trends in Dane County.

So, whenever you have any financial concerns about any aspect of real estate, we invite you to please reach out

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Last year was a roller coaster ride, for sure. But in 2023, rates have fallen more than a full percentage point below the 2022 peak. In fact, as of this writing, a 30 year fixed rate mortgage from UW Credit Union is now available for as low as 5.75%

30 year mortgage rates Feb 2023

How much home can you buy in 2023?

Reach out to our realtor team if you're curious about your purchasing power in today's market. We'll connect you with a local lender who will help you make sense of your current financial position -- and pre-approve you for your mortgage, too. A lender who will give you all the time you need on the phone, and if you wish, even meet with you in person. Now there's a novel concept :)

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You have a few dozen 55 plus communities to choose from in the Madison area, but in a low inventory market like ours, the number of listings available at any given point in time is relatively small.

So, if you're in search of a 55+ condo, our advice to you is don't confine your search to a 55 plus community. Instead, try expanding your search by focusing on the condominiums that will help you live the lifestyle you're seeking. When you adopt this approach, you'll discover you have many more condos to choose from. 

Two helpful resources

Two great resources are our Madison and Suburban Madison condo guides. Our guides offer an excellent introduction to hundreds of condominium associations in the Dane County area, and can help you identify the

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How did the stock market perform compared to the Dane County real estate market in 2022? This chart says it all. 

The stock market vs Dane County real estate in 2022

And where will the market go from here?

Based on what we see in the market right now, we're predicting another year of strong real estate prices here in Dane County. For more information, we invite you to check out our 2023 predictions, where we cover many of the current trends in the Madison area. Or talk to your preferred Mad City Dream Homes realtor. We're always available to talk about your future, and the future of real estate, too. 

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These last few weeks we've heard from dozens of friends who are eager to write their next chapter through the gift of real estate. 

Here are just a few of our clients who are working on their dreams right now:

  • Our friend, Jennifer, who is excited to make the jump from apartment-living to homeownership. 
  • Emily and Eric, who are ready to become first-time homeowners and build wealth through real estate. 
  • Mark and Myah, who are excited to lay down their roots and start their family. 
  • Simona and Dylan, who are eager to buy their first home for Little Baby Mila. 
  • John and Elizabeth, who are excited to move up to a larger home for their growing family. 
  • Tom and Lisa, who are scheming to relocate to Madison and be close to loved ones. 
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Designer and color consultant, Wendy Broadhead, has been working in the home decor field for over 25 years, so she has a lot to offer on this topic. According to Wendy:

"Selecting your main home color can be daunting, but getting the right color makes everything else just fall into place. Whites and Off-Whites are so versatile, looking elegant and classic or rustic and relaxed."

Hot Color for 2023 - Swiss Coffee

(Swiss Coffee from Benjamin Moore -- photo from Benjamin Moore)

Choosing the right colors

Before you take on any large scale painting projects, Wendy recommends choosing your main color first. Some of her favorite colors include Benjamin Moore colors Simply White (OC-117, soft, slightly creamy), Swiss Coffee (OC-45, a touch of warm gray), and Chantilly Lace (OC-65,

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If you could imagine a better future for you and your loved ones, 

If you could envision peace of mind, 

And if you could afford it right now,

What would you do?

Would you buy your dream home today? Or would you delay your purchase and wait for a different kind of market?

We're always available to talk about your future and the future of real estate, too. So please reach out to our team whenever you're in need of a real estate conversation. We'll share our honest insights and opinions with you, and help you choose the path that's the right one for you. 

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