From the video:
In this video, Felicia talks about how to buy New Mexico land and the 8 key things you need to watch out for. If you’re looking for rural or vacant land in New Mexico for sale, knowing what points to look for can really help you find the right property for you.
Hey everyone it’s Felicia from Compass Land USA.
Today I want to share some pro tips with you that will help you buy New Mexico land.
So when you’re buying land in New Mexico, there are 8 key things that you need to watch out for. When my company invests in New Mexico land, we follow these same 8 points, so I’m really sharing the secrets with you here today.
You don’t want to skip any of these steps because it could really derail your whole land purchase.
So let’s start with the obvious – you need to confirm who owns the property. There are unfortunately some bad people out there who will try to scam you, and you need to protect yourself. You need to know that the seller actually has the right to sell you the property.
If you want to see the step by step of how you can check this, and the steps for each of the 8 points, I have them detailed out in our New Mexico land buying guide. It’s free for you, just click the link below and tell me where to send the guide and you’ll get it right away.
Ok, so the second point, you need to check for delinquent back taxes. This is a really crucial one because you could be buying New Mexico property that has 100s or even 1000s of dollars of property taxes owing, and you would be responsible for these debts.
As the new property owner, you take on any existing debts for the property, so don’t skip this one.
Third point, you really need to understand the property uses. I’ve seen lots of people get their heart broken because they’ve bought land and they wanted to camp on it, for example, or RV, only to find out after buying the property that those activities aren’t allowed.
Land use can be limited by 3 factors: county zoning, city bylaws, and HOA level restrictions. Start at the top, talk to the county first, and work your way down the list to really understand what you can and can’t do on your property.
Fourth, you need to check for legal access. This is not a given for rural New Mexico land! You don’t want to be in a position where you end up with a totally landlocked property, and you can only reach it by county easement or an unofficial, and probably privately owned trail.
Then there are properties that have access, but it’s difficult. So for those, you would need an off-road vehicle, maybe an ATV, or even by horseback. Those properties are really cool and still have value. And are great if you want more privacy, but they’re not for everyone so make sure you know what you’re getting into.
The fifth point, you need to check for utilities. You’re probably thinking “Felicia obviously if I’m looking at New Mexico land out in the middle of nowhere, I don’t expect it to have utilities”. You have a valid point, but included in this utility umbrella is well and septic.
And chances are, you’re going to want to know if you’re allowed to bring in septic and if you can drill a well, and how deep. It can be really expensive to bring utilities out to a rural property, so knowing if you can have a septic tank and have a well or have water delivered is a big value add.
A lot of people in New Mexico look for agricultural land. Sixth point, you want to for the property soil type. This will really help you understand what you can do on your property. Based on the type of soil, you might have difficulties growing crops or a garden. Know before you grow, ok?
I have a pro tip in the guide for this one that will really make your life a lot easier.
So for this one, I have this really awesome tool for you to use, it’s free, and it’ll break down the soil type for you. It’s the NRCS Web Soil Survey, and you can get a link for it in the guide.
Point number 7, check the property well depth. So you already know that if you’re looking at rural New Mexico lots, you probably won’t have utilities. Thankfully, there is a way that you can check well depths in the area surrounding your property.
Knowing how deep you would need to drill for a well can help you access the costs of bringing in a well, and also help you understand how much water you have access to.
Last one, number 8, you want to check the property for flood zones. I know that this isn’t something that would typically pop to the front of your mind when looking at New Mexico property, because it’s not on a coast. I think more people associate New Mexico with desert like terrain.
But there’s still a risk in this state of flooding and flash floods. And if you’re in an especially high-risk area, you might be required to purchase flood insurance.
Hopefully, this video helps you buy New Mexico land.
Don’t forget to grab your free copy of the New Mexico Land Buying Checklist guide. The guide will tell you step-by-step how you can check each of the items on this list.
Just click the link, and then tell me where to send that guide to. I’ll have it in your email inbox within an hour.
If you liked this video please give it a thumbs up, leave a comment and let me know if this was helpful for you, I want to hear from you guys to learn what content is useful for you so I can make more of it. And if you’re looking for New Mexico lots for sale, you can check out our website to see our current inventory.
Make sure you subscribe to our channel so you can see more info like this and all of our newest property tours.
If you have any questions about these 8 points, leave a comment below and I’ll help you out. Thank you for watching, and I’ll talk to you soon. 🙂
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