Anyone here from New Mexico?

sneaky_pete · Sep 28, 2005

I'm strongly considering buying 40 acres or so of vacant land in New Mexico; looking mostly in Santa Fe County, but going to look at at least one parcel each in Bernalillo and San Miguel Counties also. I'd like to semi-retire, move there, and build a house and shop etc. on the land maybe 6 years from now. Can anyone with knowledge tell me anything to watch out for there? How bad are property, income, and corporate taxes? Anything you don't like about NM? I grew up in Colorado, and want the mountain west climate and beauty without the crowding and harsh(er) winters.

Thanks in advance -

Unclebuck257 · Sep 28, 2005

s pete,

There must be two great minds here in N Texas because the wife and I were thinking about doing the exact same thing you're talking about. In fact, to date, I've done a great deal of research through Real Estate Brokers etc. and here's what I've found.

The Santa Fe area is one of the MOST expensive areas in New Mexico, per acre, to buy, to begin with. Major money per acre from what I was told, to the tune of $25,000 per acre and up in some areas. Way too rich for my blood as I'm looking to buy around the number of acres you're looking for.

Additionally, and I think also very important to you because of where you now live, as it is/was to us, the oil/gas drilling is going nuts in New Mexico, about like it is here in N Texas and you can't buy mineral rights. They just don't talk about it much and most brokers won't bring it up until you ask. Ask, and they then will unload all the details on you.

Truthfully, we crossed New Mexico off because of the tremendous amount of oil/gas drilling going on now and anticipated in the future. We even checked in the Farmington New Mexico area too and found more aggressive drilling going on there. You have just as bad a deal with drilling right now in Parker Co as we have here in Wise Co. and I personally refuse to EVER get into that situation again, if we do move somewhere else. If you can't buy mineral rights, you might as well not say you own the land because someone else always has the final say on tearing it up to drill.

Anyhow, off rant for me, but that's what I personally found out. As a result we're looking at Colorado, a section where no drilling is going on at all, and has never gone on.

Good Luck in your quest.

BillG_in_TX · Sep 28, 2005

Here's an earlier thread about moving to New Mexico.

sneaky_pete · Sep 28, 2005

( The Santa Fe area is one of the MOST expensive areas in New Mexico, per acre, to buy, to begin with... Way too rich for my blood as I'm looking to buy around the number of acres you're looking for.)

We found that to be true also, but Santa Fe County is a big place. We're looking at the East Mountain area, and have found land for as little as $2,000/acre near Madrid and Los Cerillos on highway 14. You have to go south or east from SF to get reasonable land. If I didn't need to be within striking distance of a real airport, I'd probably go to Lincoln County and the mountains there.

( Additionally, and I think also very important to you because of where you now live, as it is/was to us, the oil/gas drilling is going nuts in New Mexico, about like it is here in N Texas and you can't buy mineral rights. They just don't talk about it much and most brokers won't bring it up until you ask. Ask, and they then will unload all the details on you.

Truthfully, we crossed New Mexico off because of the tremendous amount of oil/gas drilling going on now and anticipated in the future. We even checked in the Farmington New Mexico area too and found more aggressive drilling going on there. You have just as bad a deal with drilling right now in Parker Co as we have here in Wise Co. and I personally refuse to EVER get into that situation again, if we do move somewhere else. If you can't buy mineral rights, you might as well not say you own the land because someone else always has the final say on tearing it up to drill.)

I feel your pain Jim, but that alone would probably not be a deal-killer for us.

( Anyhow, off rant for me, but that's what I personally found out. As a result we're looking at Colorado, a section where no drilling is going on at all, and has never gone on.)

There is some beautiful country in southern Colorado that is not too overrun yet; if it weren't so far from an airport we would be tempted.

( Good Luck in your quest. )

You too Jim, and thanks for your input.

sneaky_pete · Sep 28, 2005

Thanks Bill, I should have known there is nothing new under the sun at TBN and tried the search feature myself! I'm going to go read that whole thread right now.