Looking to buy a home in Santa Fe, New Mexico? The SLAM list may be your perfect companion during your search. What is the SLAM list, you ask? It is an acronym for potential Santa Fe home buyers to help find the perfect home. Here’s how the SLAM acronym breaks down:
Also See: Santa Fe Real Estate Homes
Schools. In 2013, Consumer Affairs wrote an article on important considerations when buying a home. Here is what they said about schools:
“If you have school-age children then you will obviously be concerned about what school district the house is in. But even if you don’t have kids at home, having a home in a desirable school district will pay off when it comes time to put your home on the market. Parents want their kids to go to a good school and that can drive up prices of homes in those districts.”
The resale value of a property you are looking at should be a consideration when buying a home. Schools lead our acronym because the quality of a property’s s school district is an important factor and one that is often overlooked by home buyers without school-aged children.
Location. In business, the term “location is everything” is an indicator that the place one chooses to put their business will contribute to the economic success (or failure) of that business. For homes, location is also a vital factor to consider. Here are a few things to look at when it comes to the location of a home you’re looking for:
Remember that the appeal and importance of a home’s location may be partially reflected in the home’s price are homes for sale in good neighborhoods and great locations may go for a higher price because location is important.
Age. The age of a home is a subjective factor that is partially dependent on a person’s needs and wants. Some people love charming older homes while other people want modern amenities and conveniences. It’s important to balance reality with your desires. For example, it’s important to consider that an older charming home may result in more frequent maintenance. There are trade-offs to consider. Your real estate agent can help you with this. Just be sure to measure the pros and cons of the age of the home you are looking at.
Monthly. And that brings us to the final part of our SLAM acronym. Monthly is strictly a budgetary consideration that looks at what the cost and invested time for monthly maintenance will be. One way you can measure this is by prorated property taxes, expected maintenance expenses, insurance payments and neighborhood association or condominium fees in addition to the mortgage payment. Also, are there things like landscapes/gardens (or a pool) to maintain? Be sure to calculate those in terms of actual estimated cost and the time you will have to put in monthly for upkeep.
While there are no direct scoring guidelines for the SLAM list, because a lot of it is subjective, you will find this list to be an invaluable tool in helping you narrow the list of homes you are interested in. When looking at a Santa Fe home, if you find yourself feeling negative about two or more items on the SLAM list, then that could be a good indicator that you should move on.
Right now there are many appealing Santa Fe homes for sale. When you’re ready to get started for your search, give me a call! Darlene Streit – 505.920.8001.
Darlene Streit 505.920.8001
Sotheby's International Realty ®
Main: 326 Grant Avenue
Office: 417 East Palace Avenue Santa Fe, NM 87501
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