Seeing vacant properties around the Enchanted Circle is a common experience, as many homes are either second homes, investment properties, or abandoned. The general appearance of a vacant property may include overgrown yards, boarded-up windows, and a lack of maintenance.

What many don’t know are the stories that came with how that home was built… whose homes they were and what their dreams were in building them. Often we see an old home or property as an eyesore. Others might see it as an opportunity. Which are you?

When you flip a vacant property, ideally for a profit, you can receive gratification that you turned what was once empty into someone’s next dream home, where they will create lifelong memories. Whether you’re coming at it from a personal, financial, or community-driven perspective, here’s the why behind the hard work:

Financial Upside to Fixer-Uppers

Buy low, renovate, and sell or rent. Even modest updates can massively increase a property’s value. A rehabbed home can become a cash-flowing rental, especially in areas with tight housing supply. Some cities offer tax abatements, grants, or credits for revitalizing distressed or historic properties. (We might bring this up at our next Commission meeting.) Most people avoid them due to the hassle, which means fewer bidding wars and more negotiating power.

Neighborhood Revitalization

One fixed-up home can inspire neighbors to do the same or increase surrounding home values. Vacant buildings attract crime and squatters. Renovating brings light, life, and safety back to the area, not to mention more housing options. Especially in areas with shortages, reviving abandoned homes creates affordable alternatives for buyers and renters alike, which means more housing, more opportunities for doctors, teachers, and professionals. They may be willing to work here; they just haven’t found a home yet.

Preserving History

Architectural gems, older homes often have craftsmanship you can’t replicate today. Restoring a home can mean preserving the story of a family, a community, or an era. Fixing an existing structure keeps it out of the landfill and avoids the carbon cost of demolition/new construction, which at this time can help utilize the under-valued amount of existing structures that could be greatly used.

Reasons for investing in Vacant Properties

Investing in projects around your community has a much broader impact than you realize. You’re not just fixing up houses, you’re solving housing issues, creating jobs, and increasing community value. As someone looking to do something with vacant property, you’re not just increasing property values, you’re rebuilding pride and purpose.

Dealing with vacant property can mean a few different things depending on your role—owner, buyer, investor, neighbor. If you’re in need of a realtor I can help with your vacant property. My role can be super valuable in bridging the gap between just “sitting on it” and or actually making it productive, whether that’s through a sale, rental, or just prepping it for the market. Depending upon financial goals, timeline, and how much effort you may want to put in, I am here to help.

Programs That Help Fix Vacant Properties

• Restoring Our Communities (ROC) – New Mexico
  Funds the rehab of vacant homes for resale to low/moderate-income buyers (via local partners.)
• HOPE VI Revitalization Grants – HUD
  Helps public housing authorities redevelop distressed housing into sustainable communities.
• MROP – Major Reconstruction of Obsolete Projects (HUD)
  Funds full-scale rehab of old public housing.
• Community Development Block Grants (CDBG)
  Grants to cities/counties for housing rehab and public improvements, especially for low-income areas.
• Home Improvement Program – NM MFA
  Offers home repairs and upgrades in underserved NM counties—like roof fixes or accessibility updates.