You don't live in the upper east-side because you don't think you can afford it? Read on and find out how you can live close to your work and live in one of the most desirable neighborhoods in the City of Milwaukee.
Board Member John F. Bleidorn Shares his expertise in financial planning to show how buying a home on the upper East-side can be reasonable.
In my opinion, having local UWM (or any organization's) employees living in the area seems like a valuable source of owner-occupied residents, and can be highly practical from a financial perspective for the individuals involved.
Buying a duplex within walkable distance of your daily workplace to save several thousand per year in transportation costs & hours per week of commuting time, renting out the unused space of half of a duplex and paying under $500/month (or living for free, or at a profit in the long-run) in a higher-cost, walkable neighborhood seems like an easy financial decision for housing options once it's thought out (at least it was for us after we ran a few spreadsheets & share them with financial planning clients over the years).
I can't think of a lower-cost neighborhood in the area. Not needing another car (replacing it with Zipcar, UWM enterprise car rental,occasional taxis, uber, lyft, buses, car sharing, bike trails) also reduces the costs further compared to a less-dense area of the city where weekly trips for groceries/pharmacies/entertainment are further away.
In that regard, my experience with W2W (Walk to Work and initiative of EMCC) has been limited to volunteering with Select Milwaukee at the UWM new employee orientations a few years back, educating new UWM employees about the new 1st time homeowner tax credits available.