Moving to a Smaller Home Around Milwaukee
Most people who call us about downsizing have lived in their house a long time. They raised kids in a Wauwatosa colonial, kept a Polish flat in Bay View going for forty winters, or bought a split-level in Greenfield when the family was growing. Now the bedrooms sit empty, the basement stairs feel steeper every year, and the snow on a corner-lot sidewalk is somebody's job. This page is about how to make that move without wearing yourself out: the money questions, the order of operations, and what to do with everything inside.
Start with what the house costs you now
Before you look at smaller places, add up what your current home really takes each year. Pull last year's property tax bill, twelve months of We Energies statements, your homeowner's insurance renewal, and a rough tally of what you spent on the roof, gutters, lawn, snow removal and repairs. Then do the same estimate for the kind of place you're considering. A condo will have an association fee, but it may also cover exterior upkeep, snow and insurance on the building. A one-story ranch may have a smaller tax bill and a newer furnace, or it may not. Comparing your own real numbers beats any rule of thumb, including ours.
Then think about the equity. If you've owned your home for decades, the mortgage may be small or gone. Selling turns that equity into money you can use for the next place, for care down the road, or for help to children and grandchildren.
Which comes first: selling or buying?
This is the question that keeps downsizers up at night. Sell first, and you may have to move twice, with a storage unit and a short-term rental in between. Buy first, and you may be carrying two homes or writing an offer that depends on your old house selling, which a seller with other offers may pass on.
Selling to us takes most of that pressure off. You get a firm number in writing, so you know what you'll walk away with before you shop. You choose the closing date, whether that's two weeks out or two months, so it can line up with the day you get the keys to the next place. And because your sale isn't waiting on a buyer's mortgage, you can shop with a clear budget. It's the same as-is offer we make to any homeowner as cash home buyers in Milwaukee; downsizing just usually calls for a more flexible calendar.
Where people go when they size down
- Condominiums. You'll find them on the East Side, in the Third Ward, in Bay View, and across the suburbs. Read the association's budget and rules, and ask about recent special assessments, before you commit.
- One-story ranches. Postwar ranches are common in places like St. Francis, Cudahy, Greenfield and the west side of Wauwatosa, and having the bedroom, bath and laundry on one floor matters more every year.
- Age-restricted and senior apartments. Many suburbs have 55-and-older buildings and communities where outdoor work is handled for you. Visit a few and ask what the monthly fee includes.
- Continuing care communities. If you want independent living now with assisted living or nursing care available later on the same campus, these are worth touring early, since some have waiting lists.
The hardest part: a lifetime of things
For many families, clearing the house is harder than selling it. Some ideas that help:
- Let family choose first. Give children and grandchildren a date to claim keepsakes, furniture and photos. What isn't claimed by then can go.
- Call an estate sale company. Several work around the metro. They price, run the sale, and take a percentage, so ask a few for their terms.
- Donate what's usable. Milwaukee Habitat for Humanity's ReStore, with stores in Wauwatosa and Franklin, schedules pickups of furniture, appliances and building materials that meet its donation guidelines.
- Leave the rest with us. When you sell to us, you can take what you want and leave the rest behind. We handle clearing the house after closing, which spares many families the most exhausting part.
If long-term care may be in the picture
For people who may need Medicaid to pay for long-term care, the timing of a sale matters. While you live in your home, Wisconsin's Medicaid programs generally don't count it as an asset, within limits. Once it's sold, the cash from the sale can count against you. Wisconsin's Estate Recovery Program can also seek repayment from a member's estate after death for certain care it paid for. None of this is a reason to stay put. It's a reason to speak with an elder-law attorney first, so the sale fits your care plan.
How we try to make this easier
We buy houses as they are, so the place you've lived in for thirty years doesn't need fresh paint, a new water heater, or an empty basement. We put a firm number in writing, you set the closing date, and the title company takes care of the paperwork. If you'd like to know what your house would bring so you can plan the next step, ask for a no-obligation offer.