Homebuyer Associates Mobile Menu

Why Do I Write This Tale?

From my previous E-Note: http://bit.ly/1jdb8Xw

Small (900 square feet) was all I needed; small was what I could afford and small worked – both purchased with 5% down. “Small” came from three books that impacted me:

Small is Beautiful by E.F. Schumacher

The Good Life by Helen and Scott Nearing

Voluntary Simplicity by Duane Elgin I aged.

My homes continued to get younger. I now had a romantic, not real estate partner.

Why do I write the tale?

The 1,500 square-foot-home was built in 1922 and we were its second  owners. It was a low- frame building, a story and a half in height with a  moderately steep pitched roof commonly referred to as Cape Cod style.

The first floor was functionally obsolete and the second floor a blank slate  with access via a pull down stairway. The exterior was slate siding. On the  day of closing we had a party. To enter you to put a hole in a wall – any wall  – with a sledgehammer.

We opened the first floor and created a master suite on the second floor ending up with a 3-bedroom, 2-bath home. Skylights were added as was a fireplace, rear deck and garage. The slate was replaced with double-4 vinyl siding to replicate the frame style of the 1920s. The work was done over a 4-year period. But… the river was calling.

Why do I write the tale?

I was aging and the homestead was about to get younger, much younger. I felt like one of those Hollywood actors in a relationship with someone half his age. The 1,800 square foot condominium – designed by Engberg/Anderson Design – was built in 2002

It’s a 3-story walk-up, (I don’t need a Stairmaster) contemporary in design,  and situated on the Milwaukee River in downtown Milwaukee.

The river is soothing. We see ducks, geese, jumping fish and 4-5 times a  year a red fox wanders up and down the frozen river.

The City is abuzz with Millennials, Xers and Boomers – renters and owners.  Most places of interest are accessible via bike or walking path. A wooded path along the river (a 10 minute walk away) makes us feel like we are in the far reaches of Eagle River, Wisconsin.

Why I write the tale.

A recent National Association of Realtors’ survey showed that 20% of millennials say they need financial help to buy a home as compared with 8% of the Boomer generation.

According to a PEW survey, 18-34 years olds are less likely to be living independently of their families than they were in the Great Recession and the share of young adults living in their parents’ homes has increased from 24% to 26%.

I had no interest in living at home post-college (I make no judgment about those who do live at home) nor did I have access to financial help when I purchased my first home – but with a bit of planning I made it work.

I write the tale in case you or someone you know has an interest in home ownership. With or without money, young or old, big or small home, a plan can be put in place to make it a reality. It requires questions, (you), answers, (Seamus or me) and a cup of coffee (us).

It’s what we do.

Thanks for reading,
Michael D. Holloway

Newsletter sign-up

Homebuyer Associates
1835 N. Riverwalk Way
Milwaukee, WI 53212
Phone: 414-254-4129