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As an east-sider myself, I'm hardly objective, but I think the east side is a great place to live. I won't make judgemental comments about east-siders vs. west-siders, but there's a lot to love about the east side, and I would not eliminate it from your consideration just based on real estate prices.
Gulseth Street is not in a bad neighborhood by any means, although I'll warn you that it's really close to the airport. Madison's airport is not a very busy one (though the managers would like to change that) but there's a National Guard unit here that has a bunch of F16s that they like to play with on the weekends, and those babies get pretty noisy when they fire 'em up. We live a couple miles away from the airport, and if the Nat Guard is out there playing with their toys on the weekend, conversation just kind of stops until they go past.
I would strongly suggest that if you can manage it, plan to rent for the first 6 to 12 months you live here. Taking on a 30-year mortgage is a huge commitment, and it's scary enough to do when you've lived in a community long enough to get to know it. I would not ever buy a house anywhere (including Madison) unless I had first lived there long enough to learn a bit about the community.
Good luck to you!
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