The thought of owning small, elegant, almost hotel-like one bedroom properties in places I enjoy has always appealed to me.
I could use at my leisure then lock it up and rent it out online through services like AirBnB when not there.
The first place I looked was Vegas. Then, this past month I decided to contact – Emerald Management & Realty Ltd. to inquire on one luxury suite in an area I know well, Big Sky, Montana.
Yet, all the hotel suites for sale seemed to stay on the market MONTHS or YEARS at a time. Maybe I was missing something.
The one bed one bath suite I was looking at in Big Sky was right on the ski hill in a luxury hotel, had a kitchen, living room, bedroom and bathroom. Asking $245k.
But digging down further I discovered why they don´t sell… the condo fees were around $1100/month. The annual property taxes $1400/year and the property management companies in the area that offered me their services charge around 25%. Not to mention heating and utility bills which are several times that of Ecuador.
Compared to the same sized luxury suite I´m considering on the coast of Ecuador, which if renting short-term could probably ask around the same in nightly rates ($60-80/night) the cost is about $http://ecuadorrealestate.org/luxury-condos-in-ecuador/80k to buy. Monthly condo fee is $110. And the annual taxes around $125! Management would be much less expensive as well.
For some property types the USA wins for sure, but for this one, I´d choose Ecuador.
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