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Home Upgrades That Will Make Your Albuquerque House Worth Even More

by Sandi Pressley

Albuquerque, with its unique blend of Southwestern charm and modern living, offers homeowners a great opportunity to increase their property value through strategic upgrades. Whether you're looking to sell or simply enhance your living space, certain home improvements have been shown to offer a significant return on investment.

French Doors

Adding French doors is one of the top recommendations for Albuquerque homes. They not only bring an element of elegance but also invite natural light and create a seamless indoor-outdoor living experience. Homes featuring French doors have seen a median list price well above the city's average.

Lighting Fixtures

Lighting can redefine a space, and in Albuquerque, upgrading to modern fixtures is a valuable move. Stylish pendant lights, chandeliers, and track lighting can elevate the aesthetic of your home and are a sought-after feature in the real estate market.

Open Concept Kitchen

An open concept kitchen is another upgrade that can significantly boost your home's value. By removing barriers between the kitchen and living areas, you create a welcoming space that's perfect for entertaining and everyday living. This design trend is highly popular among buyers and correlates with a higher median list price.

Outdoor Features

Outdoor living spaces are increasingly important to homeowners. In Albuquerque, features like bike paths, fire pits, and large covered patios are not only enjoyable but can also increase your home's sale-to-list ratio. A well-designed outdoor space can make your property stand out in the competitive market.

Energy Efficiency

Energy-efficient improvements are not only good for the environment but also for your wallet. Upgrades like a modern air conditioning unit can be a decisive factor for buyers looking for a sustainable and cost-effective home.

Gourmet Kitchen

A gourmet kitchen with high-end appliances and finishes can be a game-changer. It's a luxurious addition that appeals to homebuyers who see the kitchen as the heart of the home, often resulting in a higher sale price.

Additional Living Space

Expanding your living space, whether it's through an addition or by finishing unused areas like basements, can significantly increase your home's value. More space means more functionality, which is always a plus in the real estate market.

Fresh Paint and Flooring

Never underestimate the power of fresh paint and new flooring. These updates can revitalize your home's look and feel, making it more attractive to potential buyers. They are also relatively cost-effective ways to increase property value.

In conclusion, Albuquerque homeowners have a variety of options when it comes to upgrading their homes to boost value. From aesthetic enhancements like French doors and modern lighting to functional upgrades like an open concept kitchen and energy-efficient features, the right improvements can make a significant difference in your home's market appeal and price. 

HOT ALBUQUERQUE LISTING OF THE WEEK

4501 Magic Sky Court NW, Albuquerque, NM 87114

Gorgeous custom home built for the sellers who are the original owners. Situated on an oversized almost 1/3 of an acre cul-de-sac lot. Very livable floor plan with the owners suite with luxurious spa like bathroom and secondary large bedroom and full bath both are on the main level. Gorgeous custom flooring that includes Brazilian hardwood floors. Kitchen is a chefs delight with ss appliances and granite countertops opening onto huge dining room, and great room. Open bright and light floor plan with soaring high ceilings. Two bedrooms and full bath upstairs. Spacious backyard, features outdoor barbecue and wet bar, large covered patio, front and back accented with tongue and groove wood and ceiling fans. Entry courtyard has beautiful water feature. 

LEARN MORE!

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.

Get your Morning Inspiration with the Sandi Pressley Team!

Can Albuquerque Homeowners Deduct Home Improvements on Their Taxes?

by Sandi Pressley

Are you wondering if you can write off your home improvements? Home improvements in Albuquerque can have tax implications, but only in certain situations. For taxes, a home improvement is defined as any work that significantly increases your home's value, extends its useful life, or enables new uses for the property. The specifics of when home improvements impact taxes are examined below.

Home Improvements vs. Repairs

The money you spend on your home in terms of taxes can be divided into two categories: improvements and repairs.

The cost of capital improvements made to your home can be added to the tax basis, which is the amount subtracted from the sales price to determine your profit. However, you can only benefit from this tax basis increase when you sell the home.

A capital improvement in this context refers to anything that adds value to a home, adapts it to new uses, or prolongs its lifespan, as mentioned previously. Examples of capital improvements include installing a new roof or central air conditioning.

While capital improvements don't need to be major purchases, installing small upgrades like storm windows or a home security system can also qualify. However, repairs cannot be added to your basis. Repairs may include painting your home or fixing gutters. If you make any improvements to your home, be sure to keep thorough records of everything in case you sell the property in the future.

Tax Deductions for a Home Office

One way to save on taxes and improve your home is to build a home office. You can claim a deduction for improvements when converting an area into a dedicated workspace, which many people now do as more work from home.

The cost of any home repairs that improve the part of your home used as an office can also be deducted, based on the percentage of your home that is used for business.

Likewise, if you rent out part of your home, you may be able to deduct the cost of improvements made to that rented area. For example, if you were to add a bathroom to the portion of the home you rent out, you may be able to deduct the full cost of that renovation.

Medical Modifications

If a health care provider suggests modifications to your home to help you or to allow you to provide care for your family member, such as an aging parent, the expenses of these updates may be deductible. Examples include adding a wheelchair ramp or modifying your doorways. If the improvement adds value to your home, on the other hand, it’s not deductible.

Upgraded Energy Systems

If your health care provider suggests home modifications to help you or allow you to care for a family member such as an aging parent, you may be able to deduct the costs of these updates as medical expenses. Deductible improvements include adding a wheelchair ramp or widening doorways. However, you cannot claim the costs as a medical deduction if the modification increases your home's value.

The residential energy property credit covers several home improvements that increase energy efficiency, including installing energy-efficient windows, doors, skylights, metal or asphalt roofs, insulation, and heating and air conditioning system upgrades.

Upgrading your home opens opportunities to lower your tax bill, but restrictions apply. If any part seems unclear, consult a tax advisor since rules vary annually.

HOT ALBUQUERQUE LISTING OF THE WEEK

2109 Palenque Drive SE, Rio Rancho, NM 87124

Lots of entertaining spaces in this beautiful 4BDR/3BA/3CG home! Open floor plan features a large living room with wet bar, cabinets & wine rack, formal dining room plus a huge loft/recreation room! One bedroom or office on the main level! Huge primary suite with room for sitting area, large walk-in closet, dual sink vanity, garden tub & separate shower! Spacious kitchen features lots of cabinets, large island, breakfast bar & nook with bay windows. Outdoor living space with pergola to relax, unwind and entertain family & friends. In the heart of Rio Rancho, excellent location close to parks, schools, shopping, Intel, Presbyterian Rust Medical Center, Cottonwood Mall!!

Learn More!

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.

Get your Morning Inspiration with the Sandi Pressley Team!

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Photo of The Sandi Pressley Team Real Estate
The Sandi Pressley Team
Coldwell Banker Legacy
10400 Academy Rd. NE Suite 100
Albuquerque NM 87111
505-980-2999
505-263-2173 / 505 293-3700
Fax: 505-212-0729

Quick links to this site are also SandiSells.net or SandiSellsHomes.com