The Hunt
A Young Family Took Its Chicago Budget to Madison, Wis. How Much House Could They Afford?
With two children under 5, a couple of first-time buyers wanted a three-bedroom house with a yard to play in and an easy commute to their new jobs. Here’s what they found.
Homeownership wasn’t exactly on the Tinklenberg family’s radar last year. Evan Tinklenberg had just finished graduate school in Chicago and landed a job as a campus pastor at Geneva Campus Church in Madison, Wis. His wife Kim, a nurse, was starting a new job at the University of Wisconsin’s cancer center.
They had always rented and figured they had years to go before they could afford to buy anything, especially in Chicago. Madison would offer more for the money, but with two children under 5 and a big dog in tow, they found that three-bedroom homes there were asking well over $3,000 a month.
So the couple, now both 30, decided that if they were going to live in this home for a while, they might as well put their savings to use. “Our life has been so transitional for a number of years,” Mr. Tinklenberg said. “This is the first time we’ve actually had a chance to do that.”
They moved into a temporary furnished apartment they found through Furnished Finder and got acquainted with their new city. Home prices were in their range, which topped out at $350,000, but as in much of the country, inventory was slim.
Their broker, Brittany Trent of Keller Williams Realty, assured them that prices were starting to thaw. “Kim and Evan bought at a pretty good time,” she said, adding that “patience and an open mind” always help in a competitive market.
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The couple’s non-negotiables included living on a quiet street, and no subdivisions. “We play outside a lot, so we wanted more of a neighborhood feel,” said Ms. Tinklenberg. And they wanted an easy commute downtown, especially after driving an hour or more to get to work from their temporary apartment.
“We wanted something with more character and families that had been here for a while,” Ms. Tinklenberg said.
They looked at dozens of homes online, then narrowed it to a handful to tour in person.
Among their options:
No. 1
Four-Bedroom Split-Level
This four-bedroom, two-and-a-half-bath split-level house from 1960 had 2,257 square feet and a huge backyard with no immediate neighbors behind it. The interior needed serious work, from the carpeting to the kitchen, but the mechanicals were new and the spacious family room had a wall of glass sliders out to a new deck. There was a big basement and a six-car garage. The house was across a grassy field from Dane County Regional Airport. The asking price was $350,000, with annual taxes of about $8,000.
No. 2
Quaint Home in Walkable Area
This charming three-bedroom, one-and-a-half bath house from 1923 was in a bustling neighborhood, with walkable access to shops and dining. It had an enclosed front porch, a foyer with original woodwork and a small deck that stepped down to a patio and fenced back yard. The house needed updating and was on the smaller side at 1,317 square feet, but the couple liked the bright kitchen, good-sized living and formal dining room. There was a driveway but no garage. The asking price was $339,000, with annual taxes of about $5,300.
No. 3
Sunny Layout on Corner Lot
This three-bedroom, two-and-a-half-bath house from 1978 sat on a corner lot in a leafy neighborhood a little farther from downtown, close to the airport and lacking much walkable shopping. Its 2,416 square feet included a bright open floor plan, a dining area with glass sliders to a patio, and a unique brick grill on the semi-finished lower level. There were many updated features, shiny hardwood floors, ample kitchen storage and an attached two-car garage. The asking price was $345,000, with annual taxes of about $5,600.
Find out what happened next by answering these two questions:
Which Would You Choose?
Four-Bedroom Split-Level
Quaint Home in Walkable Area
Sunny Layout on Corner Lot
Which Did They Buy?
Four-Bedroom Split-Level
Quaint Home in Walkable Area
Sunny Layout on Corner Lot