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Moving to Albuquerque unexpectedly and I'm buying a home. I know the Alb real estate market is generally bad, and no promises. But one of two things is most likely to happen: this will be my family's home for the foreseeable future and I'll be able to continue working remotely for my job, or I'll have to move back to NY within the next 3-5 years.
I know a lot of people would recommend renting until things are more certain. But I'm early thirties, have never owned, have two dogs and a baby and neeeeeed space after too long in a NYC apartment.
So my question is: are there places to buy that are likely to be easier to resale/rent if I have to move back earlier than I'd like? I'm most attracted to places in the North valley or Los Ranchos de Albuquerque, because I like the acreage/mature trees and older adobe homes. Ideally I'd like a home in the 300k range. But I do have flexibility for up to about 200-500k. Is there a price point that would be easier to move? I'm willing to live anywhere in the Albuquerque area, including Rio Rancho, Placitas, Tijeras, in the mountains, etc. Santa Fe is probably too far out, since I'd like to be close to family who's also recently relocated to Albuqueruqe. Schools are a concern, but probably not a huge one, since we can also use private schools. Are lower priced homes more likely to be rentable for around the price of the mortgage if that happens?
I know this is a random email. But this is very, very sudden. Up until last week, I was looking for homes in Westchester, and I know *nothing* about the Albuquerque market. I know I'm going to buy, wisdom be darned, but as far as where to buy and how much to spend, well, I can try to be smarter there....
Thanks in advance for your help- and sorry for any ignorance. I really know nothing. I'm literally moving in a week!
First thing to bear in mind is that there are some houses with big yards suitable for kids and dogs that you can rent. You don't have to buy to give up the filing cabinet lifestyle.
Would also recommend not buying until you understand where you're moving to. A short-term rental of a month would work wonders to familiarize you with the neighborhoods. The valley has some nice and hip spots to live but it's a patchwork of dirt farms with horses, nasty old trailer parks, food manufacturing plants, small decaying warehouses, and million dollar ranchettes. These take time to figure out.
Getting friends to want to visit you is something people often forget about and take for granted. This factors in with things like parking (night and day vs. NY but some areas are starting to be a pain to park at) and proximity to shopping and dining (not near as much within 5 minutes of a typical north valley property as you'd think).
If you plan on working remote, I'd recommend living someplace quiet, close to amenities, and near alternative jobs.
If you hate NY's hot summers and cold winters, Albuquerque's temperatures aren't that different. It's drier here, meaning less rain and snow, and more sun, but temperature ranges don't differ by much. Lots of people expect it to be tropically warm throughout the winter and it can be brutally cold, snowy, and windy at times.
I live near uptown, where yards are large (.25 acre lots), houses from the 1950's-60's and in the $150k-$300k range for 3/2/1cg to 5/3/2cg, mostly great public schools, lots of old trees and grass, and 5 minutes from almost everything you could want. With the possible exception of family or money reasons, I wouldn't ever want to live anywhere else in Albuquerque.
Thanks so much. I should mention that I've lived in Albuquerque before, just not since tenth grade. And that perspective was a little different from an adult buying a home. We lived in the NE heights at Wyoming and Candelaria. And I liked it, but was really enchanted with Northern Albuquerque. Like living in a city, but not at the same time.
I do have a short term rental through end of May, through AirBnB since this was so sudden, and I'll need time to find a home and close. But beyond that, I really do want to purchase.
Where do you mean by uptown? The tramway area? I love the idea of living in the foothills, but honestly, it's the yard that detracts from the listings for me. I really love gardening, both food and for fun. I love that Albuquerque, because of the dry heat, is one of the few places where even when it's hot, you can be pretty comfortable outside in the shade. Grass and patios and plants that require tending, yes please. Fruit trees and gardens and ancient shade trees- even better! The idea of semi-rustic is great to me. Bring on the chickens! And really, would love, love, love at least an acre. A third of an acre is also workable, just so long as that space can actually be used/enjoyed. For those reasons, the mountainous/xeroscaped backyard so common in the foothills doesn't appeal to me, even if the lots are larger and the views terrific. We're outdoor people who live outside, and want that to be the best feature of where we live. Pools are neither pluses nor minuses I guess. I like them. But am aware of the work involved and do not want them if they eat up the rest of the useable yard. I definitely want safe. But close to amenities isn't all that important. The house really isn't that important either in that, I want something I love sure. But small is fine (1200 sq feet ish will seem huge to us.) Do want three bedrooms, and find homes that are older adobe Santa Fe style to be charming. But fine if the kitchen hasn't been updated since the 60s. Fine if there's a large flat yard, but it's all neglected dirt.
One of my favorite pasttimes is actually just household/yard "projects"- it's one of the reasons I really do want to own and be able to put my stamp on a place.
Uptown is the agglomeration of the malls in NE Albuquerque- roughly spanned by I-40, San Pedro, Pennsylvania, and Menaul. I live near it, not in it. Your former address near Hoffmantown (Cand/Wyo) would also count as near uptown.
Chickens may be an issue with city vs. county. I've never seen the ordinance, but the conventional wisdom is that you want county zoning if you want to raise chickens, particularly if you have a rooster. County zoning would also be closer to feed and animal supply and chick breeders.
1/3 acre lots do exist near the San Pedro corridor between Montgomery and Menaul, and there are plenty of them in the less-populated parts of the valley as well.
County zoning far more likely to find real adobe homes as well. I'm part of the minority that doesn't like them as much as more modern construction.
I prefer the heights to the valley because of humidity and flies.
You'll do fine. Just bear in mind not all parts of the valley are safe for kids (and that's as much from crazy drivers who will run them over as anything else).
We're outdoor people who live outside, and want that to be the best feature of where we live. Pools are neither pluses nor minuses I guess. I like them. But am aware of the work involved and do not want them if they eat up the rest of the useable yard. I definitely want safe. But close to amenities isn't all that important.
Have you considered looking at Cedar Crest/Tijeras? Crime rate is extremely low. Schools within the district are mostly great, and it's only a 15min cruise in to ABQ proper. We were in the same boat as you, and our research led us to this area and we've loved every day out here.
sounds like a great option i hadn't considered- thanks!
how are the roads to alb when it snows? that's really my only concern about being in the mountains. more snow and driving in it :-/
also, did you find a daycare you're happy with? my son's two and i'll either need an in-home babysitter or a really great daycare for the next few years. alb not so worried as i know there will be something. but tijeras is so much smaller...
sounds like a great option i hadn't considered- thanks!
how are the roads to alb when it snows? that's really my only concern about being in the mountains. more snow and driving in it :-/
also, did you find a daycare you're happy with? my son's two and i'll either need an in-home babysitter or a really great daycare for the next few years. alb not so worried as i know there will be something. but tijeras is so much smaller...
So we had a few heavy snowfalls this winter, and it closed I-40 for I think half of the day. Route 66 is always open, just ends up being a bit of a traffic jam getting in to town. On the whole it's very rare, and we make sure to keep a few sick days in the pocket for those situations. NM-14 is always plowed and the county puts down a sand/pumice mixture so the main roads really are of no worry.
As far as driving is concerned, I'd definitely recommend an all-wheel-drive vehicle to combat the snow/mud.
We're on a gravel road, which my fiance thought would be terrible, but it's turned out to be just fine, and in fact requires for less maintenance cost than that of paving up our private road. Most private drives or neighborhood communities have people with snow-plows or pitch together to pay a service for it.
We don't have kids, so I couldn't comment on daycare, but I have seen daycare signs around Tijeras. Are they the best? No idea, but there is care out here for the kids.
I suggest you rent for a month or two and check out the areas. The farther out you go, the slower and less reliable the internet connection will be. If this is a major concern for working remotely, then forget Tijeras. A client just finished building his house, was told he could get fast internet prior to hooking up service, but has since discovered that the 'parts are in place' but service has never been upgraded as 'no one ever asked for it'. Seriously. Same with major parts of Placitas, or so I've been told by another client who lives there.
Within ABQ and Rio Rancho city limits, you should be able to get decent internet.
^ regarding internet: You can dual-band DSL. I.e. 2x 8mps lines. It's not Cable/fiber, but it works for us, and we're pretty net savy and download ridiculous amounts.
Had a Comcast door-to-door salesman come calling this afternoon. During his pitch he said "we have the fastest internet in the state".
It's simply not true.
CityLink Fiber (only the core of downtown Albuquerque) can get you 1000 Mb/s.
Plateau Telecom (Belen, Moriarty, and a bunch of far afield communities) can also get you 1000 Mb/s.
In the city, you're stuck with cable, ma bell DSL, and wireless solutions that are all far slower.
I'm a prodigious user of internet and I don't _need_ the gigabit internet, even though it'd sure be nice.
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