Waitlisted at UMich, deposit to UW-Madison. Help?

Hi everyone,

I just found out that I got waitlisted at UMich, and obviously, I accepted it because I have wanted to go there since freshman year… Anyways, I’m planning to put in my deposit for UW-Madison (it was my third-choice school and I am still super grateful that I was accepted). Just to confirm, it’s okay to withdraw my admission if I do end up getting accepted into UMich (it’s fine if I lose my deposit because I’m willing to risk that)- right? How would the whole housing situation work btw? Can I wait until like the beginning of July to start to look for roommates (although I don’t expect the pandemic situation to be resolved)?