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BEFORE YOU BUY A CONDO know these 3 Things; Condo in Madison, WI

Tuesday, June 17, 2025   /   by Ryan Huemmer

BEFORE YOU BUY A CONDO know these 3 Things; Condo in Madison, WI

BEFORE YOU BUY A CONDO know these 3 Things; Condo in Madison, WI

Thinking about buying a condo in Madison, WI? You’re not alone. With stunning lake views, walkable neighborhoods, and vibrant downtown energy, condos are a popular option for homebuyers in the Madison, WI area. But before you fall in love with granite countertops and rooftop views, there are a few key things you must understand to protect your investment and avoid surprises after closing.

Whether you're a first-time buyer or a seasoned homeowner ready to downsize, buying a condominium is very different from purchasing a single-family home. As The Huemmer Home Team, one of Madison’s top-performing real estate teams, we’ve helped hundreds of clients navigate the Madison condo market successfully and we’re here to make sure you do too.

Let’s dive into the top three things you need to know before buying a condo in Madison, WI.

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1. Understand the Homeowners Association (HOA)

When you buy a condo, you’re not just buying your individual unit—you’re buying into a community, often governed by a Homeowners Association (HOA). This is one of the biggest differences from purchasing a traditional single-family home.

What You Need to Know:

HOA Fees: In Madison, HOA fees can range from $150 to $600+ per month depending on the building, location, and amenities. These fees typically cover things like exterior maintenance, snow removal (a big plus during Wisconsin winters), lawn care, insurance for common areas, and sometimes even heat or water.

Rules and Restrictions: Every condo association has its own set of bylaws and covenants. These may limit things like short-term rentals (like Airbnb), pet ownership, renovations, or even how many cars you can park. Before you write an offer, make sure you (and your Realtor) carefully review these documents.

Reserves and Financial Health: Ask to see the HOA’s financial statements. Are there enough reserves to cover major repairs like roof replacements or elevator upgrades? If not, you could be hit with a special assessment—a one-time charge that each owner must pay for unexpected expenses.

Local Tip:

Some of Madison’s most popular condo buildings like Capitol West or The Loraine have strong, well-funded associations, while smaller complexes might be self-managed with less oversight. Always ask your real estate agent for guidance on how well-run a specific HOA is.

2. Know What’s Covered And What’s Not

One of the biggest misconceptions condo buyers have is assuming the HOA handles everything. While your monthly dues cover a lot, it’s crucial to understand what’s included in those fees and what you’re responsible for on your own.

Questions to Ask:

Does the HOA cover windows and doors? In some Madison condos, these are considered part of the unit and are your responsibility to maintain or replace.

Who handles plumbing and electrical issues inside the walls? In most cases, repairs inside your unit are your responsibility, while those in common areas are the HOA’s.

Is insurance included? Most HOAs carry a “master policy” that covers the building’s exterior and common areas, but you’ll still need a condo (HO-6) insurance policy to protect your personal belongings and interior improvements.

Local Consideration:

In older Madison buildings, especially those built before 1980, it’s extra important to know what you’ll be on the hook for. Older HVAC systems, shared plumbing stacks, and outdated electrical systems can lead to surprise expenses if the lines of responsibility aren’t clear.

3. Location Still Matters—Even With Condos

It’s easy to get distracted by finishes and amenities, but the golden rule of real estate still applies: location, location, location.

What to Consider:

Walkability & Transit: Madison’s condo buyers often look for locations with easy access to UW-Madison, Capitol Square, or Monroe Street. Check how close you are to bike paths, bus routes, and grocery stores. A good Walk Score boosts both your lifestyle and resale value.

Noise & Activity: Condos near State Street or the University might offer an exciting urban lifestyle—but they can also come with weekend noise, heavy traffic, and limited parking. Be sure to visit at different times of day, not just during your showing.

Future Development: Check with the City of Madison’s planning department to see what’s being built nearby. A beautiful lake view today could be a construction site tomorrow.

Local Favorites:

Downtown Madison Condos: Like the Loraine, Capitol Point, or Nolen Shore offer premium locations and stunning views of Lake Monona or the Capitol.

East Side Gems: Neighborhoods like Atwood and Tenney-Lapham are growing fast and offer an exciting mix of modern and historic buildings.

West Side Convenience: For buyers seeking quieter neighborhoods and easier parking, west side condos in areas like Middleton or Junction Road offer great value.

Bonus Tip: Work with a Condo-Savvy Realtor

Not all real estate agents are experienced with condos. The contracts, due diligence, and inspection process can be very different from single-family homes.

At The Huemmer Home Team, we specialize in Madison real estate and have a deep understanding of the condo market in Dane County. From navigating bylaws and budget reviews to negotiating smart offers, we’ll guide you through every step.

Final Thoughts

Buying a condo in Madison, WI can be a fantastic choice! Whether you’re looking for a low-maintenance lifestyle, a lakeside retreat, or a place close to the University or Capitol. But before you sign on the dotted line, make sure you do your homework on the HOA, what’s included, and of course, the location.

Avoid costly mistakes by asking the right questions and partnering with a team that knows the ins and outs of the Madison market.

Ready to Find the Right Condo in Madison?

Let’s make sure your next move is the right one. Contact The Huemmer Home Team today for a free condo consultation, where we’ll walk you through current listings, HOA insights, and pricing trends in your favorite neighborhoods.

Whether you're ready to buy now or just starting your search, we're here to help every step of the way.

The Huemmer Home Team

LPT Realty

Amber Huemmer

608-279-5424


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