Why owning a luxury condo in Ecuador makes more sense than in the USA

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.

For the same price as a hotel someone can enjoy all the same services (elevator, front desk staff, pool) yet get twice the space and more freedom to have guests over without paying extra.

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.

USA:

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.

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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My new favorite tool for finding the CHEAPEST flights to South America

“I paid $300 Argentina to Brazil to Chile to Ecuador,” a young, backpacker guest of mine at my place near the Quito airport said recently in the lobby.

“Wow” I thought.  Great price considering there are no budget airlines yet in South America.

So naturally I asked how she found it?

Google Flights,” she said.

So I tried it, and she was right, its great and I used it to plan my last trip a few weeks ago to the US saving me hundreds on flights.

The great thing about Google flights is you can compare the prices between two different destinations on all the major airlines for MONTHS at a time allowing you to easily pick the dates that work for you and that are the cheapest.

Google flights, a must for any expat planning travel abroad in 2018!

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1 mistake everyone makes when moving to Ecuador: Choosing the right brands

“I´m an Apple guy,” a friend who was moving to Ecuador confided recently.

“OK, better hope your Apple computer-phone doesn´t break while in Ecuador.” I responded.  

Why?  

If your Apple product breaks, if you can even FIND the part, it will probably cost a fortune.  

This ain´t Kansas no more, land of Amazon Prime free 2 day delivery and a Walmart on every corner.  

You gotta start thinking like an Ecuadorian if you gonna live here.  

It´s VERY important to stick to the brands that are prevalent in Ecuador, or parts will be almost impossible to find, very difficult to get shipped down, and if found VERY expensive.  

For instance…

For TVs go SAMSUNG or SONY. 

For cellphones go SAMSUNG.

For computers go HP or TOSHIBA.

For tablets the best well-known is APPLE iPAD.

For cars go CHEVROLET or NISSAN.  

For printers go CANON.

For cameras go NIKON or CANON.  

Any other brand if it breaks here will be almost impossible to fix, and has very little RESALE value!

Yes, I´ve made this mistake myself, I like Motorola unlocked smart phones, yet try to find a case, or a charger or anything else for one of them while in Ecuador, stinks!  Now you know!

Hasta pronto, if you liked this sign up for my Ecuador Insider’s newsletter so you can check out my latest posts(not available online) on living and investing in Ecuador:

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