Whenever we’re looking at spending money on something, big or small, we all probably ask ourselves the same question: is this going to be a good investment? We want our hard-earned money to be going towards something that will last and affect our lives in a positive way. So when looking at Angel Fire, is putting our money here a good investment?
Let’s look at the housing trends of Angel Fire first. Since 2018, the prices of houses has steadily risen, meaning that, while houses are more expensive than previous years, the value of property in the area is increasing. You can expect to make back what you put into the property and possibly make money on top of that. Even the lower end of the pricing pool rose significantly, making the affordable options more valuable as well. Overall, despite rising housing costs, the value to you is rising, too.
Below is a link to our End-Of-Year report for the 2022 year where we dig into the key metrics of the Angel Fire real estate market.
Another value to look at is the ‘days on market’ number. Historically, homes could stay on the market for 300+ days. Now, homes are selling faster, meaning if you do want to sell, you can expect to see the home turn over more quickly than previous years. And that means your money is coming back to you faster!
Now for one of everyone’s least favorite things: taxes. Groan, right? Not entirely true in New Mexico! New Mexico has some of the lowest property taxes in the country, making it more affordable even with higher housing costs. The state has a valuation cap of 3%, so you won’t suddenly see giant hikes and can expect your taxes to remain relatively low. This also means your house may appreciate significantly, but the taxes can only go up 3%, so the longer you own your home, the better your tax rate will be compared to your home’s value.
Also consider the area of Angel Fire. With wide open space, low risk of experiencing natural disasters, and regularly temperate weather, your home is likely to stand the test of time more than other areas of the country.