Barndominium living in New Mexico is a great option if you are looking to settle in a state with beautiful weather, picturesque landscapes, and a reasonable cost of living. This state does not have a huge population, so it has many open spaces perfectly suitable for building a barndominium. In this article, we will go through everything you need to know in constructing a barndo in New Mexico.
Table of Contents
- 1 Can You Build a Barndominium in New Mexico?
- 2 New Mexico Barndominiums Overview
- 2.1 Advantages and Disadvantages
- 2.2 Regulations
- 2.3 Taxes
- 2.4 Insurance
- 2.5 Financing
- 2.6 Builders
- 2.7 Kit Providers
- 2.8 Cost
- 3 Where Can You Build a Barndo in New Mexico?
- 4 3 Things to Consider Before Building a Barndominium in New Mexico
- 5 Is it Worth Building a Barndo in New Mexico?
Can You Build a Barndominium in New Mexico?
Yes, you can! Barndo living, a laid-back lifestyle in the desert climate of New Mexico, is ideal for many folks. However, if you do not want to commit to small-town life, you can live in Albuquerque, a relatively big city with all the essentials of city life.
New Mexico Barndominiums Overview
In the early days, barndominiums were barns that were converted into houses. Today, the term barndominium is used for homes with a barn-like appearance on the exterior but with all the amenities of modern homes. Old barndos are built using metal frames, but newer ones may use timber or both metal and timber.
Barndominiums have been gaining attention in recent years because they are cheaper and fully customizable. This appeals to those who want to build their dream home without shelling out a huge fortune. To get an idea of the possibilities of barndo designs, you can look at our Facebook page, where we post tons of barndominium content. Not only that, but we also have a Facebook Group where you can ask questions to other barndo owners who have experience building barndos!
To get a deeper insight into barndominiums, you can check out our Barndominium 101 Guide, where we compiled everything there is to learn about these types of homes.
Advantages and Disadvantages
Like all awesome things, they have their advantages and disadvantages. Let’s review some of these, so you know what to expect as you plan your barndo project.
- Cost – Barndos are much more accessible to first-time homeowners as they are cheaper to build because they are made with lesser materials. You also can purchase pre-fab kits, which minimizes cost even more. Less spending on the build means you have more funds for luxury features such as a wrap-around patio, a second story, or a fireplace.
- Time – They can be erected quickly because this type of construction mostly uses metal frames and pre-fabricated materials. Barndos generally take half the time to build compared to traditionally built homes, sometimes even quicker.
- Customizable – Barndominiums are great if you want to live in a unique house or simply want to have control of the build of your dream home. The possible custom designs are almost endless.
- Durable – The construction of barndos makes them extra durable. Concrete slabs with metal and timber frames make them strong enough to withstand all weather conditions.
- Reselling – Although barndos are popular, they still do not appeal to the masses. A niche market makes reselling barndos difficult.
- Exteriors – The external appearance of barndominiums may be considered a disadvantage to some people as it still looks like you are living in a warehouse. However, there are solutions to this problem. You can look for awesome exterior ideas on our Pinterest account.
- Financing – Financing can be challenging because they are technically not considered homes. Although more financing institutions are now willing to finance barndo builds, it is still limited compared to traditional houses.
Like all construction projects, it is required to get a permit before you start building your barndominium. Understanding the building regulations specific to your area is imperative because some counties may not allow the building of barndos. Some counties require zoning approval in New Mexico before applying for a permit. You can contact the Construction Industries Division for zoning requirements in your area.
Refrain from assuming that regulations are consistent among counties. It is better to consult with the local regulation and licensing department to avoid any unnecessary violations on your project.
New Mexico has one of the lowest tax rates in the country, sitting at 0.78% of the assessed property value. The fact that the state has set a 3% annual cap on the amount that a property’s taxable value can increase is one factor in New Mexico’s low property taxes. This implies that property taxes would not increase even if home prices soared.
As you know, barndominium taxes differ between cities, counties, school districts, and special districts, so we recommend consulting a local tax assessor to help you with the taxes of your barndo.
Insurance is essential to cover your property if you need to repair or reconstruct it due to damages. Although severe weather does not occur often, it can cause problems to your property when it does happen. Common causes of loss in the state of New Mexico, according to Bankrate, include wildfires, earthquakes, theft, and flooding. Standard barndominium insurance does not cover some of these threats, like flooding, so ensure the coverage is discussed with your insurer.
First-time homeowners find great value in financing a barndominium because it helps relieve the financial stress of starting a dream home project. Below are local financing institutions that we recommend.
Farm Credit of New Mexico is an excellent choice for your barndominium project because of its wide range of experience and practical approach. In 2023, Farm Credit of New Mexico plans to merge with American AgCredit.
AG New Mexico
The knowledgeable staff at Ag New Mexico is familiar with the intricate finance requirements of rural America. Many of their employees have experience working in the agro-industry or were raised on farms or ranches in New Mexico.
Your choice of a builder is one of the most crucial parts of this project. When choosing a builder, make sure they have experience in building barndos. Take a look at reviews from their past clients and see the quality of their previous builds. Below are reputable builders that can help you in New Mexico.
Myriad Builders, LLC
Myriad Builders works with clients all around the state of New Mexico. They are owned and run by a general contractor with a license and more than 20 years of expertise in construction.
Jones Construction Company
You can choose from a wide selection of beautiful home plans or create your own. You’ll get inspiration from them for both your interior and external design choices.
Magnum Steel Buildings, Inc.
Magnum Steel Buildings has a long history of producing steel structures. The company was established in 1985 and is based in Moriarty, New Mexico. They have built steel buildings of diverse shapes and sizes throughout the state.
For homeowners, farmers, ranchers, and do-it-yourselfers, Metal Depots is a leading provider of metal buildings, roofing, and components. They service the commercial, residential, and agricultural sectors.
To look further than local builders, we have created a list of the most popular barndominium builders that can build in multiple states in the US.
If you want to create a barndominium on a budget, you can purchase a kit and take care of the rest of the work. Essentially, you must ensure you have the time and skills necessary to finish your barndominium. Below is a list of reputable kit providers.
Since 1997, Metal Depots has provided services to Albuquerque, New Mexico, and the surrounding region. They are among the most popular kit providers in the state.
Absolute Steel is a privately owned company in Arizona; however, it can ship to New Mexico and other parts of the US.
In addition, we have a list of barndominium kit providers that service New Mexico and practically every other state in the US.
According to Redfin, the average cost of homes in New Mexico is $196 per square foot. In contrast, the cost of building a barndo in New Mexico ranges from $67 to $76 per square foot. This does not include the price of the land. However, it is crucial to note that the price to build a barndominium depends on factors like the complexity of the design and the materials used.
You can also use our barndominium cost calculator to get a cost estimate on your build.
Where Can You Build a Barndo in New Mexico?
There are many choices on where you can settle in New Mexico. Barndo-living folks tend to favor the small towns over the big cities. The top places to build a barndo in New Mexico are Corrales, Los Ranchos de Albuquerque, and Rio Rancho. These places have a rural character and thriving communities with great employment rates and low crime rates.
3 Things to Consider Before Building a Barndominium in New Mexico
The Barndo life
Ask yourself if barndominium living suits your family well. You have to remember that this is a long-term investment, so this is going to be your life in the next 5-10 years.
The warm climate in New Mexico is something to keep in mind. You have to ensure your home has a reliable water supply at all times.
Finalize your budget allocation. You must stick to the plan after deciding on a budget because last-minute changes might mean extra expenses.
Is it Worth Building a Barndo in New Mexico?
After considering everything covered in this article, a barndo in New Mexico is absolutely worth building. The vast open land in the state allows you to live in a rural ambiance with tight-knit communities perfect for barndo life.
Now that we’ve covered everything you need to know about building your barndominium in New Mexico, you can check out our barndominium floor plans for alternate ideas. We also have an in-depth article that explains the process of building a barndominium to dive deeper into the barndo construction process. May you enjoy barndo living as much as the others before you!