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To the OP, NM has something called water rights. Before you buy land to use for anything beyond a dog run, learn what they are as thoroughly as possible.
If you choose rural land, go talk to the neighboring ranchers or neighbors about whether the area is a throughway for illegals or has a meth lab nearby. Talk to LEO's as well, they know where the calls come from.
Also, when you talk to those neighboring ranchers, you might find that you can buy land from them directly, if the seller doesn't pay commission the price can be lower. NM property transaction forms are short and simple compared to AZ and CA.
Or you might find a rancher who will lease or lend a parcel somewhere for a small consideration. It can be hard to resell land there, so doing a trial might be beneficial.
Article on value of land by state land per acre in the US: NM is #47 out of 50:
#47 out of 48. They didn't do Alaska & Hawaii for whatever reason.
I'd posit that the only reason Wyoming beat us out is that the average land sale is significantly larger than in NM, because there are fewer people buying and it's almost as big.
Pecan is not a good investment. I visited some of the orchards and talked to the farmers. Lots of money is required for fertilization , irrigation and pest and crow control. The bottom line is then with little margin for error. Lots of work too. Many of the farmers have done this all their life and are sort of stuck. Pistachios is similar but they do use less water.They need hot and arid.
Very interesting, guys. I don't know where we stand on this issue at this point - a simple piece of land in NAA is what looks best right now for the long term, even if initially we go with a <$200K house somewhere in Rio Rancho while we figure out our business down there. No pecans in our future as far as we can tell. I'm not sure the rural NM life would be for us.
Trailtramp -that article is nice but totally irrelevant. The states with major urban centers are going to have more valuable land -those with endless wide open spaces are going to be cheaper. An acre in downtown Alb will cost 1000 times more than one in the desert south of Lordsburg.
That's like saying California has the best public universities. It does but Antelope Valley College is not going to be in the same class as the University of California Berkeley ( or even UNM).
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