City Lifestyle

Want to start a publication?

Learn More

Featured Article

Should I Stay or Should I Go?

Options for the current housing market

Should I Sell My Home?

Many reasons for selling your home now for top dollar make sense. You can even negotiate a leaseback when selling your house, which will allow you to remain in your home for a designated length of time once it sells. Leasebacks are particularly useful if you do not have another residence lined up.

Take Advantage of Buyer Demand

Many people are moving to Albuquerque with various budgets, which has led to the historically low inventory of homes across the board. In addition, interest rates are slightly increasing, and home buying will likely slow. It may be months before we see an increase in homes available increases but now is still a prime time to maximize if selling. 

Future Relocation

Do you need to relocate in the near future? If so, this might be an opportunity to save some money and declutter! Unfortunately, the cost of moving has increased tremendously. Consider selling your nonessential and nonsentimental belongings like furniture, and start with a fresh look in your new home. 

Upsize or Downsize

Is your family growing, and would you like to have more room? Without adequate space, clutter tends to become a significant cause of anxiety for many. On the other hand, perhaps your kids have grown, and now you have excess space? Upkeep and cleaning can become a burden and indicates that your space longer suites you. 


Now is the time if your home has appreciated significantly and you want to cash out on the equity. Use your equity for something of value instead of frivolous spending, like going on a vacation. Connect with your financial advisor and learn how to continue to improve your financial stability and security.

Should I Renovate My Home?

Homeowners are considering remodeling instead of moving or building a new home. From their experience during the pandemic, families have realized they need more defined areas, like spaces for remote working or learning. In addition, people are craving more creature comforts in their homes, and remodeling can address both trends. 


With shortages in supplies and the labor force, it is a good idea to research what renovations will add to your home's value, especially if you plan to sell in a year or two. Before starting any project, it is good to have all supplies on hand. Otherwise, you may run into severe issues that extend your timeline and create stress. 

Renovate to Your Standard

Experts agree, renovate to the standard you desire. Identify what details will make you happy, but do not get sucked into minute details that you'll hardly notice a year from now. Not sure if a feature you want is overkill? Ask a friend's opinion about how essential the feature is and how much they believe it will add to your happiness.  

Living During Renovations

Are you going to live in your home while you renovate, or is a temporary move a better option? Living in your home is less of a financial burden, but can you survive the mess, compromise the use of spaces as they are being updated, and will noise and disruptions be problematic for remote officing or learning? 

What Renovations?

Not all renovations will add value to your home. However, top projects that bring value are renovations of kitchens, bathrooms, fireplaces, improving floor plans, adding heated square footage, creating outdoor living spaces, and incorporating smart-home technology. Upgrading appliances should also be a priority.

Should I Keep My Property and Rent It?

Are you one of the many homeowners in Albuquerque moving out of their home and thinking of turning it into a rental property? We asked the experts to highlight some considerations that may help you make this decision. 


What are your goals for the property? Do you want to move back into it someday? Gift it as an inheritance? Create cash flow while it appreciates? Cash-out and receive the equity? Does it have sentimental value? If so, are you comfortable with tenants?

Condition of Your Home

Does your property need extensive repairs? If so, maybe selling is best for you. On the other hand, do you have enough cash flow if you decide to rent your property to pay for maintenance when it arises? 

Location and home features

Is your home in a desirable location with low crime and access to good schools? Does your home have amenities desired by renters like a garage, air-conditioning, washer/dryer, and outdoor space? What size is your home? There is a sweet spot for a desirable rental. Too few bedrooms and bathrooms are not ideal, which is valid for too many. 

Cash Flow and Taxes

Will the rent you collect offset your mortgage (if you have one), property taxes, maintenance costs, and a property management fee while you continue to build equity? Of course, you will want to speak with a tax expert to understand how owning an investment property will impact your taxes.   

Landlord Responsibilities

Finally, do you want to be a landlord and fully understand the responsibilities? Do you have reliable companies to address maintenance issues when necessary? Should you use a property management company? What services does a property management company provide? Reputable property management companies will help you evaluate these factors to help you decide whether your property is a good option as a rental. Contact Alicia with Real Property Management Expertise for an assessment of your property.