Different types of real estate in Milwaukee, WI
Some of the common Milwaukee property types include single-family homes, townhomes, condos, and multi-family properties like duplexes, triplexes, and quadplexes.
Single-family houses
A single-family house is designed for one family or household. It’s a standalone structure that shares no walls with other homes and often has a private yard, driveway, and garage or carport.
Townhomes
Townhomes are vertical units, typically 2 or more stories, attached to other townhomes by shared walls. They’re also called row houses.
Condos
Condos are like apartments, connected by walls and the floor/ceiling. They’re usually managed by a homeowners association that provides outdoor services like landscaping, utilities like water and trash, and amenities like a pool and gym, in exchange for a monthly fee from each condo owner.
Multi-family homes
Multi-family homes include duplexes, triplexes, and quadplexes. A duplex is a structure that’s divided into two units, each lived in by a single household. Triplexes and quadplexes are similar to a duplex, but a triplex has 3 units and a quadplex has 4.
Selling these different types of real estate can present some challenges.
Obstacles to selling a single-family home in Milwaukee
Single-family houses are attractive to individuals or families who want more privacy, but there are also some hurdles that might make it harder to sell a house. One difficulty factor is that houses are going up in price, which could limit the pool of buyers. According to Redfin, the price of a single-family home in Milwaukee went up from $164,000 to $220,000 between January 2024 and April 2024. The average time on market for a Milwaukee house is about 39 days.
High upfront costs, like closing fees and down payments, can discourage buyers who don’t have enough savings. Buyers may also need to back out of the sale if they can’t get financing for their home loan.
In your home listing, emphasize the great private outdoor spaces that come with living in a single-family home, as well as the freedom for the buyer to renovate and make the space their own.
Difficulties when you sell a duplex, triplex, or quadplex
Many buyers want a detached house where they don’t have to share walls or the floor/ceiling with another unit. A multi-family home also usually has limited private outdoor space, which can be a dealbreaker for some buyers.
If you’re selling the entire multi-family home as one building, rather than selling each unit separately, you may also have difficulty finding a buyer who wants the whole thing. An investor could purchase the entire building, but smaller investors may not be willing or able to put down the whole cost. This can limit the pool of buyers even more.
Larger investors are a great option for selling a multi-family home all as one unit. They will typically have the funding needed to pay for the whole thing, saving you time and effort you’d spend if you tried to sell each unit on its own. If you do decide to sell the units separately, you can highlight things like a large private patio or balcony to appeal to buyers who want some outdoor space to call their own.
Challenges when selling a townhome
A townhome, or row house, can be difficult to sell for the same reasons as a multi-family home. Plus, the vertical floorplan of a townhome can be unappealing to buyers who want a more open-concept living space rather than a smaller amount of space spread across different floors. Townhomes often have a lack of private outdoor space, which can be an issue as well.
There are two types of townhome ownership—fee simple townhomes and condo townhomes. Fee simple townhome ownership is like owning a single-family house, in that the buyer owns the structure and the land it’s sitting on, while a condo townhome only includes the interior space. Each has its own downsides to consider when you’re selling them.
Fee simple townhomes have outdoor space to take care of, which may turn some buyers away because they don’t want to have to deal with it. The outdoor space can also sometimes be less appealing to buyers who want a larger, more private yard to enjoy. Some buyers may enjoy the opportunity to enjoy some outdoor time in a smaller space that is easier to maintain, so be sure to mention the benefits of that space in any listings you post.
A condo townhome often comes with the convenience of someone else taking care of the landscaping and outdoor maintenance, but it comes at a cost. The owner will probably need to make higher maintenance payments or deal with HOA fees. For buyers who don’t like to do a lot of outdoor work, though, this can be a great selling point.
Hurdles when you sell a condo
One of the biggest challenges when you sell a condo on the market is that many buyers don’t want to deal with a homeowners association (HOA). The fees can really increase a buyer’s monthly payment, and some HOAs have strict rules and regulations that make buyers feel like they can’t customize their home in the way they want. According to data collected by Today’s Homeowner, the average monthly HOA fee in Wisconsin is $277. In annual costs, that’s 1.4% of the median Wisconsin home value. This added expense can have a big impact on what a buyer can afford.
On top of those monthly fees, condo owners may also have to pay special assessments. A special assessment is an additional fee for unexpected costs that go above the HOA’s budget. If there are a lot of upkeep costs or mismanagement of the budget by the HOA, this can add up quickly. Potential buyers might be put off by the possibility of extra fees when you sell your condo.
If the HOA is run well and takes good care of the property, mention that in the listing. Buyers will be more likely to accept a monthly fee if they know they'll be able to enjoy the common areas and amenities.
We Buy Ugly Houses® are your Milwaukee property buyers.
Whether you need to sell a duplex, a single-family house, a condo, or other Milwaukee property types, you don’t have to worry about overcoming obstacles when you sell real estate with We Buy Ugly Houses®. We purchase houses at a lower price because we give you what the traditional market often can’t—a fast and hassle-free sale.
Our 3-step process includes a free, in-person consultation at your house, after which we can make you a quick, convenient offer, followed by a fast closing. One of our local Milwaukee property buyers will come out to assess the property. After that, they can make an offer based on their assessment of the local market and other factors. If you choose to accept the offer, we can sometimes close in as little as 3 weeks, or later if you need more time. We do our best to work on your schedule, not the other way around.
When you need to sell a duplex, triplex, quadplex, single-family house, condo, or townhome, get in touch with We Buy Ugly Houses® for a quick sale.
This blog is for informational purposes only and should not be considered legal advice.
