Properties under $50,000 in Ecuador

There they were,” I thought as I spotted them walk out the Guayaquil Airport gates.

I threw out my cigarette and walked over to greet them, a Canadian couple who had asked me to help them find a home deal on the coast of Ecuador. As we caught a cab they began to mention what they were looking for… “A livable, turn-key house with few needs for improvements…not a condo… right on the water- oceanfront, not even one row back… maximum budget $50k”.

Jeeze, I thought to myself, these guys have been reading too much Ecuador hype on the net. Yes, the kind of deal they’re looking for can be found with some down-and-dirty local-style house-hunting like how I explain in my Ecuador Property Guide, but I knew it would be difficult to find something they liked in the week they had in Ecuador.

We started in Salinas and started to work our way up the coast. We found houses a row back from the ocean for under $50k, but the homes on the water, beachfront, that were livable needing little work were a bit over budget, all starting around $70k…

We looked and looked, until finally we DID find a beautiful white-washed Mediterranean-style 3 bedroom home with big glass windows facing the ocean they loved, with a porch seemingly jetting out right over the water- listed at $45k, but it was out in the middle of absolutely no where…and they didn’t like that. Finally, they gave in; disappointed that they spent thousands on flights and couldn’t find what they were hoping for. Their demands simply were too rigid for the short time they allowed to house hunt.

A few things we can learn from this experience. Understand realistically what $50k will get you in Ecuador in 2011 before you come… Talk to someone locally or ask me… But basically, $50k or less can get you a 1 or 2 bedroom condo in decent areas of Quito, Cuenca, Manta or Guayaquil (but you might have to search a bit). Also, it could get you a livable house in need of a little TLC and some improvements starting a block back from the ocean on the coast. On the water it will be a bit more expensive.

As for vacant land, you could get a large 1 hectare lot out in the countryside which may sell for around $5 a square meter (total $50k). Or a smaller 250 sq. meter vacant lot closer to the ocean in a town on the coast ($60-90 sq meter). But prices in Ecuador vary greatly so the more time you give yourself to look, the better…

To read the rest of this article you need to sign up for my newsletter below (you can unsubscribe at any time)…