Coming Sept 7

sterlinga5251 wrote:

I am excited to come and investigate Ecuador... I will likely rent first until I really know the lay of the land.  If you have any suggestions or local contacts for real estate and / or expat connections, I'd deeply appreciate your help.

Dear Sterling,

Welcome to the Ecuador forums of Expat.com ...

Real estate... don't consider buying property until you have lived in the target area for at least one year.  This is the number-one rule for arriving Expats in South America.

Ecuador needs to clean up the drug trade on the coast.  See today's report on this at www.cuencahighlife.com ...

  -- cccmedia in Quito

I agree with renting here first.

The real estate market here is radically different than North America. With the exception of a few hotspots, it is mostly slow. Cash is King. negotiating has a wider range. The majority of sales are For Sale By Owner.

lebowski888 wrote:

I agree with renting here first.

The real estate market here is radically different than North America. With the exception of a few hotspots, it is mostly slow.

And by slow, the Dude means molasses-slow.

Oh, the Expat can select a property fast enough.

The transaction, though, can take years.  Don't get me started on pre-construction 'opportunities' and what they lead to.

And that's just the start of the Expat's concerns, which grow exponentially when he/she realizes that the condo/house/land they acquired isn't quite right for them.

So they move, and now they still own the first property they don't want, can't use, can't readily re-sell .. usually in a different city/province/departamento/country from where they are now.

It languishes on the market for years.  If they get it tenanted 'temporarily', the tenant moves out, the property manager disappears, a flood or some other problem that can't be handled long-distance appears .. and it's all a big mess.

So rent today, rent tomorrow, rent next month, rent in six months.

When a year passes, come back to this thread .. and we'll re-visit the matter.

cccmedia

I got it!  Rent is the safe and the wise living choice! You guys are very helpful.  From the reports I've read Ecuador is by and large a safe place to live…? 
Thanks
Sterling