Real Estate Information Archive

Buying a home in Albuquerque is a great opportunity at the moment, with mortgage rates lowest in several years. In addition to lower monthly payments, a lower interest rate also means that more people can qualify to buy a home. When you apply for a loan, the current interest rate is locked into your loan. But what happens if the rate falls further once it is locked in? What are the chances of getting the lower rate?

Lenders take rate locks seriously. You are reserving a rate when you lock it in with your lender. If rates rise before your closing date, you are protected. Most lock periods are between 15 - 30 days in length. It is crucial that the lock period last as long as the duration of your transaction. 

The lock protects you in case the rate increases. But what if the rate decreases during that time? Would you be able to get the lower rate?

Even if rates fall just a little, such as by less than 0.125%, it won't make much difference to change the rate in your agreement, nor will your lender be very motivated to make the change. Your lender might agree to lower your rate if it decreases by more than 0.25%. 

Changing lenders to get a lower rate is not a problem in advance of the closing date. This will allow you to have a lower rate. However, you also have to submit all your documents all over again to a new lender, including paystubs, tax returns, and bank statements. 

Your lender should consider lowering your agreed rate if rates fall by more than 0.25%. For a lender, it's better to do so than lose your business. Since both of you have worked hard to make the deal work, it benefits both of you.

Also, don't expect to get the absolute lowest rate when you make the request. There may also be a small fee to make the change. In the end, do the math and decide if requesting a lower rate works out for the best. It never hurts to ask!

Contact us today to help you buy or sell your next home in Albuquerque. Looking for the perfect home for sale in Albuquerque? Our easy-to-use home search tool can help you start the process. Join us twice a week on our blog for more real estate advice and great reasons to buy a home in Albuquerque and the surrounding area. Follow us on Facebook for the latest Albuquerque real estate updates.

A neighbor with an iron fist and an intolerance for all things fun can absolutely ruin buying a home in Albuquerque. ...or who makes all the noise. There are a number of types of neighbors you hope not to have. 

The Neighbors from Hell Instagram page contains cautionary tale after cautionary tale, and a few laughs at the same time. Although you can't avoid every nuisance in a neighborhood, you can prepare for it by doing your research on the areas in Albuquerque you're considering.

You can take these steps to diffuse or rectify a tense or problematic situation if you end up with a neighbor who is worrying.

Lend an ear

Perhaps your neighbor's grumpiness is a cry for help. A little kindness can sometimes tame a grouch, even if the person doesn't deserve it. 

Lend a hand

Are your neighbors' lawns overgrown, their shutters peeling, or their siding dirty? Despite the fact that you may assume they're neglectful, there may be a larger issue at play, The Spruce reported. “The family may be dealing with sickness, or their lawnmower broke down and they can't afford a new one.”

Don’t be afraid to stand up for yourself

It is sometimes necessary to show strength to someone who isn't used to facing a formidable foe. There may be a better way, but it might require you to get in the muck in order to achieve your goals.

Get support

Rentberry noted that joint efforts lead to more success. “If it’s likely that you’re not the only one unhappy about your neighbor’s behavior, you should check if someone else is ready to side you. This point is especially important if you decide to contact local precinct or file a complaint in court. In this case, quantity matters. The more people share your opinion, the more chances to win you have.”

Get the authorities involved

The situation may require escalation if it involves legal violations or being intimidated or harassed.

Steer clear of danger

“Sad but true, some neighbors are not worth getting to know well—but it’s still good to know something about their dislikes and boundaries, so you don’t cross them,” said HGTV. An elderly Ohio man named Charles Martin shot to death a 15-year-old boy in 2006 because he walked across his meticulously mowed lawn in a suburb of Cincinnati, Ohio.

How to handle them: Martin—who is in jail—may have been destined to snap no matter what his neighbors did or didn’t do, but he was well known for the care he lavished on his lawn, and in theory, if that 15-year-old had been more aware of the kook’s devotion to his lawn, it might have kept him from going anywhere near the home.

Nightmare neighbors are just sometimes unavoidable. But with these above tips, you may have a chance of making your situation more livable.

Contact us today to help you buy or sell your next home in Albuquerque. Looking for the perfect home for sale in Albuquerque? Our easy-to-use home search tool can help you start the process. Join us twice a week on our blog for more real estate advice and great reasons to buy a home in Albuquerque and the surrounding area. Follow us on Facebook for the latest Albuquerque real estate updates.

Owning a home in Albuquerque can certainly be a rewarding experience. And sometimes it makes you want to pull your hair out. The inevitable home repairs will come along from time to time, testing your patience and your wallet. You might be tempted to take on these repairs yourself, or have a friend who knows what they're doing" handle it? But there are some repairs that are definitely best left to thepros. Here's a few examples for you to consider.

Electrical Repairs

Electricians train for years to master their craft. And for good reason - electricity is dangerous. We take it for granted because we use it every day, but electricity can kill if not handled properly. Plus, bad electical work can lead to fires. You might think calling in your relative or friend who's a "great handyman" to do the repair for you, but often that can cause more problems or dangers than it will solve. Electricians can be expensive, but that is because they've spent many years studying and training to get the job done safely for you and them.

Basement Makeover

Renovating your basement may seem safe enough. But if you make mistakes, it could lead to major damage and injuty. A basement is a very important part of a home's structure, so don;t take chances. Even if the damage isn't fatal, it could wind up costing you far more than you bargained for.

Fun with Plumbing

Plumbing issues. Not a whole lot of fun to deal with one every day, leaving you tempted to take care of it yourself. You might think too, that plumbing, along with simple electrical repairs will be a walk in the park, but a fix done wrong can cause serious damage. To your home and wallet. So try calling a plumber. Why else are there at least a dozen in every town?

Gas Appliances

When it comes to gas appliances it could literally be an explosive situation if an appliance is not fixed and reconnected correctly during a repair. Similar to electrical repairs, if not done right, you could cause a leak, which could create major health problems and even a fire or explosion in your home or worse. So when it come to your gas appliances, don't DIY. Call a professional.

When it comes to health, safety and caring for your home, erring on the side of caution is always the best option.

Contact us today to help you buy or sell your next home in Albuquerque. Looking for the perfect home for sale in Albuquerque? Our easy-to-use home search tool can help you start the process. Join us twice a week on our blog for more real estate advice and great reasons to buy a home in Albuquerque and the surrounding area. Follow us on Facebook for the latest Albuquerque real estate updates.

Whether you’re looking to buy or sell a home in Albuquerque it’s good to know what to expect in real estate trends. The spring months are always exciting and interesting in the real estate industry, so what are analysts expecting us to see in the near future?

Increasing Mortgage Rates

It appears that mortgage rates could continue to rise, depending on how well the economy recovers. Rates have been rising for weeks, whereas earlier in the year, they were holding under 3%. With the expectation that rates will continue to tick upward throughout the year, borrowers are advised to lock in low rates now. 

According to Fannie Mae, 30-year fixed-rate mortgages are expected to average 3.1% through the spring months, while they were averaging 2.9% in the first quarter of the year.

Many economists agree that as more Americans are immunized, there will be a larger economic recovery, thus a rise in mortgage rates.

Even with the slowdown compared to the hot market that has combusted the past year, there’s no major crash forecast. Prices could slow down a bit, and new homes might get built a bit more.

So that means if you plan to buy a home in Albuquerque, now is the time to act, despite stiff buyer competition.

Inventories Could Increase

The past year has been frustrating for home buyers and would-be homebuyers. It has been near impossible to find homes available, and when something comes on the market, it will often sell within just a few days or just an hour.

Today, however, more people have been vaccinated, so there will be less fear of catching COVID-19 from people coming into their home.

Although inventory levels are expected to rise, there could remain a shortage of options, particularly in some markets.

Millennial Movement

More than five million millennials will turn 30 on this year, and they are now the biggest segment of buyers in the real estate market. In 2018, millennial homeownership was at record lows, but that looks like it may be changing.

Around 86% of younger millennials and 52% of older ones are buying first homes, and some are buying luxury properties that are well beyond what you think of as a starter home.

Millennials will likely continue to dominate the market in 2021. According to a survey from the National Association of Homebuilders in the fourth quarter of 2020, 27% of millennial respondents intend to buy a home in the next 12 months, a significant jump from only 19% previously.

The Online Trends Are Growing

The popularity of real estate services online continues to grow, and that will probably not change regardless of the pandemic's state.

It has become increasingly possible to buy or sell a home without leaving the comfort of your current location. Virtual showings, the use of fully virtual agents, or mobile or online closings are just a few ways technology made real estate easier this past year.

What does all this mean for home buyers and sellers in Albuquerque? Whether you plan to buy or sell your home, now is the time to act. For home buyers, you’ll want to get your mortgage rates locked in before they rise any further. For home sellers, there’s never been a better time to sell your home, with stiff buyer demand raising prices and making homes sell fast. Talk to Sandi Pressley and her team soon to buy or sell a home in Albuquerque today!

Contact us today to help you buy or sell your next home in Albuquerque. Looking for the perfect home for sale in Albuquerque? Our easy-to-use home search tool can help you start the process. Join us twice a week on our blog for more real estate advice and great reasons to buy a home in Albuquerque and the surrounding area. Follow us on Facebook for the latest Albuquerque real estate updates.

HOT HOME LISTING OF THE WEEK!

1004 NOVAK Lane NW, Albuquerque, NM 87114  $898,000

4 Bedrooms / 4 Bathrooms (3 full, 1 half) / 4235 Square Feet

North Valley Renaissance Custom Masterpiece! Situated in a gated community close to Rio Grande/Alameda. Highlights include a well thought out floorplan with both formal & casual living spaces. Exceptional features include wood beam raised ceilings; travertine floors; quality wood doors; wood trimmed windows; custom paint; floor to ceiling fireplace; & more! Well appointed Kitchen w/Wolf & Subzero appliances; Alderwood cabinets; gorgeous granite counters; kitchen island; large walk-in pantry; kitchen nook; & eat at bar. Privately located Master Suite offers portal access, luxurious en suite w/snail shower, jetted tub, ample walk-in closet w/built-ins. Three additional bedrooms-one could be In-law Suite. Large covered portal w/relaxing spa & cozy fireplace. See Feature Page for more details!!

Contact the Sandi Pressley team for additional details! 

Get your Morning Inspiration with the Sandi Pressley Team

When you decide to buy or sell a home in Albuquerque, you need to first decide who you’re going to have on your side to help you complete your transaction succesfully. Albuquerque real estate professionals come in three types - agents, brokers, and Realtors. So what really is the difference between them, and why does it matter?

There are overlaps between all three, but at the same time, distinctions.

Agents

A real estate agent is a person working in the field who has studied for and passed the relevant real estate courses. They are also licensed to practice in the state of New Mexico.

An agent represents either the buyer or the seller in a transaction. Some specialize in working with buyers, others with sellers, others do both.

An agent's job description includes collecting offers and counteroffers, negotiating, and assisting clients with the paperwork. Real estate agents are able to provide their clients with additional services that aid in tying up loose ends, such as arranging any necessary home inspections. They usually receive a commission on a successful transaction, so they receive a percentage of the sale price.

Brokers

A real estate broker is someone with more education than is required to become a real estate agent and has obtained their broker license. A real estate broker might need to complete courses in topics like insurance, taxes, and ethics. Brokers also learn topics like property management and real estate investments. The coursework is more in-depth compared to what agents are required to complete.

There are three types of brokers.

A principal or designated broker is a person who works in every real estate office. They make sure the legal compliance of the office. Additionally, they get a commission of the sales their agents make. Next, there’s a managing broker, who may have greater influence over the agents at the office. An associate broker works under a managing broker but usually doesn’t supervise others.

Real estate brokers can work for themselves. They can also hire agents who work under them.

After passing a broker's exam, you can continue to work under another broker, in which case you will be called an associate broker. This was briefly touched upon earlier.

Brokers and real estate agents share the same responsibilities. The main difference is that a broker may earn more money than an agent by having a team under their management.

Realtors

Realtor is a third term often used to denote an agent or broker. Realtors belong to the National Association of Realtors or NAR.

NAR members agree to adhere to NAR’s strict ethical guidelines. Besides agents, Realtors can also include other professionals in the industry. For instance, property managers and appraisers can be Realtors since it's a profession that originates from a group membership.

When you become a Realtor, you can use the trademark as part of your title.

This trademark has been assigned to Sandi Pressley since 1979. Sandi has listed and sold more homes than any other agent throughout New Mexico. Through her dedication and hard work, she has been able to help over 12,200 families buy or sell their property. Sandi has been the top realtor in Albuquerque as well as in the state of New Mexico for 35 consecutive years. Sandi and her dedicated team of real estate professionals stand ready to help you realize your real estate goals in Albuquerque.

Contact us today to help you buy or sell your next home in Albuquerque. Looking for the perfect home for sale in Albuquerque? Our easy-to-use home search tool can help you start the process. Join us twice a week on our blog for more real estate advice and great reasons to buy a home in Albuquerque and the surrounding area. Follow us on Facebook for the latest Albuquerque real estate updates.

HOT HOME LISTING OF THE WEEK!

14319 MARQUETTE Drive NE, Albuquerque, NM 87123  $399,000

4 Bedrooms / 3 Bathrooms (3 full, 0 half) / 3000 Square Feet

Impeccably Maintained Home Ready for its new Owners! Nestled in the Foothills on a great corner lot, this home will not disappoint. Main level features two living areas, with both formal & informal dining options; a galley kitchen with dining nook; great guest bedroom next to a full bath; & closed in porch/sunroom ideal for home gym or game room. Upper level features a very roomy master suite & en suite, plus two additional bedrooms & full bath. Great curb appeal on a large corner lot & easy access to Hwy, close to hiking/biking trails, & conveniences.

Contact the Sandi Pressley team for additional details! 

Get your Morning Inspiration with the Sandi Pressley Team

The weather is getting a bit nippy here in Albuquerque, which is just what you would expect for this time of year. So how are you warming up after a cold night? If you love coffee and other hot drinks, then you'll want to check out some of the top coffee shops in Albuquerque. They offer just about any kind of coffee concoction you can imagine, along with tasty treats to start your morning. Here are 6 of the best places to wake up in Albuquerque.

Zendo

413 2nd St SW, Albuquerque, NM 87102

Zendo offers a low-key atmosphere where you can grab a fantastic cup of coffee prepared by super friendly baristas. Try one of their local coffee blends or for the more adventurous type, try their Red Chile Mocha!

Humble Coffee Company

4200 Lomas Blvd NE, Albuquerque, NM 87110

They have seating indoors and outdoors to accommodate any COVID restrictions. Cold coffee lovers will love this place as they make one of Albuquerque’s best cold brews.

Java Joe’s

906 Park Ave SW #3045, Albuquerque, NM 87102

You might recognized this coffee house from Breaking Bad. But locals know this coffee house for thier delicious local blends. As an added bonus, Java Joe’s often showcases art by local artists and the occasional live music performance.

Trifecta Coffee Company

413 Montaño Rd NE, Albuquerque, NM 87107

Trifecta Coffee Company features a wide selection of coffees from Mexico, South America, Africa, and Latin America to name a few. They are also Albuquerque’s first combined coffee roaster, coffee bar and bakery, lending to the Trifecta name. Try pairing one of their South American blends with one of their freshly made scones.

The Brew

311 Gold Ave SW, Albuquerque, NM 87102

The Brew Coffee Bar brings coffee from their grandfather’s farm in Colombia and brews the perfect cup. A comfortable, unpretentious, space for the community brewing the best coffee in town.

Little Bear Coffee

2632 Pennsylvania St NE, Albuquerque, NM 87110

One of Albuquerque's newest coffee shops, Little Bear Coffee offers a smooth cup of coffee in a warm and friendly environment.

Contact us today to help you buy or sell your next home in Albuquerque. Looking for the perfect home for sale in Albuquerque? Our easy-to-use home search tool can help you start the process. Join us twice a week on our blog for more real estate advice and great reasons to buy a home in Albuquerque and the surrounding area. Follow us on Facebook for the latest Albuquerque real estate updates.

HOT HOME LISTING OF THE WEEK!

11721 SKY VALLEY Way NE, Albuquerque, NM 87111  $829,000

6 Bedrooms / 5 Bathrooms (3 full, 2 half) / 4860 Square Feet

Almost 5,000sqft in Prestigious Tanoan East with absolutely INCREDIBLE views!! Enjoy mountain views as you overlook the 6th Hole of Sandia and float in the pristine, HEATED pool, with a lot situated above the golf course for privacy. At night, view the twinkling lights of Albuquerque from your private balcony off the oversized master. Too many amenities to list! With room for everyone, this home boasts a finished basement complete with rec room, bedroom & bath. The luxury kitchen features granite countertops, newer appliances and open floorplan. Beautiful wood floors, oak staircase, 2 gas log fireplaces and more are ready to welcome you home!

Contact the Sandi Pressley team for additional details! 

Get your Morning Inspiration with the Sandi Pressley Team

Do you hate dealing with pests every year? They tend to pop up in spring when the weather gets warmer in Albuquerque. So why are we talking about that now? Because now is the time to prepare your home to resist pests when spring comes again. Not only can pests cause damage to your home, but they are just a pain in general.

Here are some steps you can take now to make sure your home is ready to keep out these tiny threats.

Seal Gaps

Pests don't need a wide open door to get into your home. They can squeeze into any crack and crevice. Look for any unsealed gaps in your home, especially where pipes and electrical lines come into your home. Seal any gaps with caulking or foam insulation.

Store Firewood Away from the House

It may seem convenient now during the winter to store your firewood next to the house. But it's also an open invitation for pests. Store your firewood at least 20 feet away from the house.

Fix Torn Screens

Damaged window screens are also another entry point for pests. If you have any holes or rips in your screens, you can find a repair kit easily in most hardware stores. 

White Vinegar Deters Ants

Ants leave a trail for other ants to find food. You can eliminate that trail with a solution of 1/4 cup white vinegar, 2 cups water and 10 s of peppermint or eucalyptus oil.

Maintain Weatherstripping

If your weatherstripping around the exterior doors is worn or broken, you should replace it to close up any gaps where pests can enter.

Chase Away the Spiders

If spiders have made a home out of your basement, you can deter them with a humidifier to keep the humidity at about 40%. Also sweep down cobwebs when they appear. This should reduce the amount of spiders in your basement and keep them from the rest of the house as well.

Pests Don't Like Coffee

You can turn that morning cup of coffee into an effective pest deterrent. Pour your leftover coffee grounds in places where you think pests are entering. Many animals can't stand the smell of coffee. This trick can also work in your garden.

Inspect Crawl Spaces

Check around crawl spaces and basement for obvious nests of shredded material, which indicate rodents. Also look for smaller pests like ants or cockroaches.

Don’t Let Pests in Through the Dryer Vent

Examine dryer vents to ensure the damper isn’t stuck open or broken off completely. Also check that the seal between the vent and the wall is tight to keep house pests out.

Trim Plants Back From the House

Plants against the house make it easy for ants to enter. If you trim them back at least 3 feet from your house, this will close off their bridge. Keep a 3-in. to 6-in. clearance space between the soil around the foundation and the bottom row of siding to prevent ants from nesting in the siding.

With just a little bit of preparation, you can make your Albuquerque home a more enjoyable and pest-free place to live.

Contact us today to help you buy or sell your next home in Albuquerque. Looking for the perfect home for sale in Albuquerque? Our easy-to-use home search tool can help you start the process. Join us twice a week on our blog for more real estate advice and great reasons to buy a home in Albuquerque and the surrounding area. Follow us on Facebook for the latest Albuquerque real estate updates.

HOT HOME LISTING OF THE WEEK!

13504 DESERT ZINNIA Court NE, Albuquerque, NM 87111  $1,125,000

4 Bedrooms / 4 Bathrooms (4 full, 0 half) / 4556 Square Feet

Highly Sought after High Desert Contemporary Southwestern Beauty. Custom built for Original owner. Well Situated on .86 acre lot to maximize the spectacular Mountain and City views! Incredible floor plan features 4 spacious en-suite bedrooms all with private bathrooms, Dual Masters, with the largest one on main level. Gorgeous, sunny kitchen with quartz counter tops, opens onto bright, light breakfast nook and family room. Complete with kitchen island, double ovens. Soaring ceilings throughout - with walls of windows to enjoy the views from every room. Approx 1500 sqft of wrap around decks/patios on front and back of home can be accessed from all bedrooms. Gorgeous serene courtyard with water feature. Spectacular low maintenance landscaping front and back! Newer TPO top of the line roof.

Contact the Sandi Pressley team for additional details! 

Get your Morning Inspiration with the Sandi Pressley Team

The recent forest fires on the west coast of the US has many people thinking about fire safety. But you don't need a forest fire to start a home fire. October is National Fire Safety Month, and now is a great time to review your plans to keep your family and home safe from fire. In fact, you should regularly review your fire safety plans. Nobody wants to dwell on what can happen in a house fire. But planning for that possibility can save lives.

Here are a few things to plan for and consider:

Smoke Alarms

• Install smoke alarms outside every bedroom or any area where someone sleeps. Also install them in furnace areas. Be sure there is at least 1 alarm on every level of your home, including the basement, or at each end of a mobile home.
• Place smoke alarms away from the kitchen and bathroom. False alarms can occur while cooking or even showering.
• Test smoke alarms every month by pushing the test button. It is best to use smoke alarms that have long-life batteries, but if you do not, change the batteries at least once a year, such as when you change your clocks in the fall.
• Replace smoke alarms every 10 years.
• Never paint a smoke alarm.
• Clean (dust or vacuum) smoke alarms once a month.
• Use smoke alarms equipped with a flashing light and an alarm in homes with children or adults who are hard of hearing or deaf .

Fire Drills

Even young children (3 and older) can begin to learn what to do in case of a fire.

• Install at least 1 smoke alarm on every level of your home.
• Have an escape plan and practice it with your family. This will help you and your family reach safety when it counts. When a fire occurs, there will be no time for planning an escape.
• Draw a floor plan of your home. Discuss with your family 2 ways to exit every room. Make sure everyone knows how to get out and that doors and windows can be easily opened to permit escape. If you live in an apartment building, never use an elevator during a fire. Use the stairs!
• Agree on a meeting place. Choose a spot outside your home near a tree, street corner, or fence where everyone can meet after escaping. Teach your children that the sound of a smoke alarm means to go outside right away to the chosen place.
• Know how to call the fire department. The fire department should be called from outside using a portable phone or from a neighbor's home. Whether the number is 911 or a regular phone number, everyone in the family should know it by heart. Make sure your children know your home address, too. Teach your children that firefighters are friends and never to hide from them.
• Practice, practice, practice. Practice your exit drill at least twice a year. Remember that fire drills are not a race. Get out quickly, but calmly and carefully. Try practicing realistic situations. Pretend that some exits or doorways are blocked or that the lights are out. The more prepared your family is, the better your chances of surviving a fire.

Of course there's nothing anyone can do to prevent a fire from occurring 100%. But with some planning and preparation, you can escape a house fire alive and safely.

Contact us today to help you buy or sell your next home in Albuquerque. Looking for the perfect home for sale in Albuquerque? Our easy-to-use home search tool can help you start the process. Join us twice a week on our blog for more real estate advice and great reasons to buy a home in Albuquerque and the surrounding area. Follow us on Facebook for the latest Albuquerque real estate updates.

HOT HOME LISTING OF THE WEEK!

6017 CROWNPOINT Drive NE, Rio Rancho, NM 87144  $299,000

4 Bedrooms / 3 Bathrooms (2 full, 1 half) / 3086 Square Feet

4 BDRS/3BA/2CG PLUS two office/flex rooms! TWO livings spaces! Kitchen features walk-in pantry, island, breakfast nook and bkfst bar. Light, bright and open floor plan! REFRIGERATED AIR! UPDATED WATER HEATER! Large secondary bdrs have walk-in closets & laundry room located upstairs for convenience! Office/flex room on the main level with 3/4 bath! Newly painted interior and new carpet! Master suite features a balcony, walk-in closet, dual sink vanity, garden tub and separate shower. Backyard features a covered patio, balcony off master suite, walled for privacy and easy care rock landscape!

Contact the Sandi Pressley team for additional details! 

Get your Morning Inspiration with the Sandi Pressley Team

Accessory dwelling units have been around for a while. You might call them granny flats, in-law units, tiny homes, or carriage houses. These little homes can solve a number of issues, such as making a good retirement home, or if you want your parents to live close to you so you can take care of them. Accessory dwelling units (ADUs) can be located within the primary dwelling such as a basement or attic, be attached to the primary dwelling, or be structurally separate from the primary dwelling. ADUs usually contain a separate kitchen and bathroom. ADUs can be traced back to the early 20th century, when they were a common feature in single-family housing. Many ADUs were created by middle-aged or older persons seeking to take in boarders after their children moved out.

What should you know if you plan to build an ADU in Albuquerque?

Types of ADUs

There are several ways you can build an ADU. They include:

• Detached new construction ADUs, also sometimes called backyard cottages, granny flats, laneway houses, or DADUs.
• Garage conversion ADUs
• ADUs above a garage or workshop, or attached to it.
• Addition ADUs or “bump-out ADUs”:
• Basement conversion ADUs, also commonly called basement apartments, mother-in-law units, in law units, secondary suites, English basements, accessory apartments, and a host of other names.
• Internal ADUs, where part of the primary house besides the basement is converted to an ADU.

Cost

It comes as no surprise that building an ADU is cheaper than building a regular home. But it's still a considerable investment. An ADU that includes a kitchen and bathroom typically start at $80,000 and can quickly move up from there. Depending how elaborate the structure is you can end up spending as much as $150,000 or more.

In addition to the cost of construction, you need to consider permits. Many homeowners may end up building illegal accessory dwellings because they realize how much permits cost. So make sure that you check the permit fees before you build.

Regulations

If you want to build an ADU in Albuquerque or the surrounding area, you should check current local regulations before you build as they are subject to change. In general, in New Mexico most regulations include the following guidelines:

• It must have a room which is at least 70 sq. ft and no less than seven ft in any direction (including the ceiling)
• Each tiny house must have sanitary facilities (toilet, sink, and either a bath or shower)
• The bathroom and kitchen sink have to have both hot and cold water
• The plumbing fixtures must be connected to an approved sewage system
• The whole structure has to sit on a foundation which is considered permanent
• It needs to meet the requirement of the New Mexico Energy Conservation Code
• There are a number of things which must be included, and which need to be regulated, such as:
  • Windows
  • Permanent heating facilities
  • Wall-switch lighting
  • Bathroom windows or exhaust fans
  • Smoke alarms
  • A door (leading to the outside) which must be at least 32 inches wide and 78 inches high

Building an ADU on your property can certainly be a good way to address your family's needs. Just make sure you do your research and are ready to make the investment.

Contact us today to help you buy or sell your next home in Albuquerque. Looking for the perfect home for sale in Albuquerque? Our easy-to-use home search tool can help you start the process. Join us twice a week on our blog for more real estate advice and great reasons to buy a home in Albuquerque and the surrounding area. Follow us on Facebook for the latest Albuquerque real estate updates.

HOT HOME LISTING OF THE WEEK!

5 BLUE SPRUCE Trail, Jemez Springs, NM 87025  $499,000

3 Bedrooms / 2 Bathrooms (1 full, 1 half) / 2900 Square Feet

Beautiful setting for this home built with Northern Hemlock logs on 2 acres of land among soaring Ponderosa Pines. Enjoy the mountain air from your 8x24' covered front porch looking out to the mountain range. Great rm w/ Wood stove, vaulted ceilings, a 26ft pitch, wood beams. Functional kitchen, stainless appliances, ample counter and cabinet space. 2 bedrooms and a bonus/flex room that could be an office/recreation/fitness on main level. Upstairs offers a loft and a spacious Master suite, huge walk in closet, bath w/jetted tub, separate shower. Viewing deck off Master. From lower level access back yard with SW landscape, privacy fence and hot tub. Also access to a separate entrance for in laws quarters/studio apt. complete with kitchenette and bath. Horses allowed, w/RUN IN stall

Contact the Sandi Pressley team for additional details! 

Get your Morning Inspiration with the Sandi Pressley Team