Ecuador
Real Estate Archive XX
Updated July, 23 2005
By
Gary Scott
To help you get a feel of Ecuador
real estate we have posted this special archive that lists many of the hundreds
of messages we have shared with our readers about Ecuador real estate this decade.
Really Inexpensive Living
Our recent tour of Colonial Quito
real estate confirmed what we have always known about Ecuador investment opportunity.
The best values are in the premium sector. For example if in the U.S. the difference
between a meal at a Denny's or Waffle House and the Ritz Carlton is seven to one,
the difference in Old Quito might be only three or even two to one. A decent meal
is still available for $2.00 at a regular sort of place. However it might only
cost six dollars in the best five star hotels.
Yet Merri and I unmasked some
very inexpensive ways to live really well in Ecuador. Let's take a look at how
a person can enjoy the old city, live in 365 days a year of direct sunlight for
as little as a few hundred dollars a month.
Start with a completed condo
in the ECH (Empressa del Centro Historico) Estacionmientos San Blas project. This
is handy development because as its name suggests it is right by a main trolley
station. This makes access and travel easy. These condos are typical Old City,
a four story building beginning with a grand entrance and stone stairs leading
into a spacious courtyard. The cobblestone inner plaza provides an open spacious
feel and light for all 30 (or so) of the condos in the building. Modern streetlights
ring the plaza giving a festive air (and convenience at night). Large stone columns
support the building and line the courtyard to add architectural interest.
The staircases located at each
corner of the plaza lead to three upper levels. Each level contains a wide glazed
tile balcony with a view down into the courtyard and the condo entrances.
The one unit still available
in this building is a tidy one-bedroom unit of just over 450 square feet. This
is essentially a studio with a small bedroom attached but entirely comfortable
for one or two who are used to small places. The asking price is $21,000. Because
this project is completed there is no discount for cash payment. This price is
slightly higher than the norm because of the beautiful parquet floors.
If one has enough cash to buy
the condo outright, other costs are very low. Condo fees including security and
water at $19 a month. Telephone and electricity will cost about $15 each. There
is a meal plan in the Old City providing 21 full meals (salad, soup entrÈe
and dessert) for $38.
These means that a majority of expenses are covered
for only $87.
Medical expenses are still low.
For example a trip to the dentist for a teeth cleaning is only $25. (More is at
garyascott.com)
I stopped in at a local optician
and the glasses I wear (strong prescription bifocals with astigmatism) that cost
over $300 in the U.S. are $103 ($65 glasses and $38 frame). Medical costs are
very low also. My mother joined us on this latest trip and lost her prescription.
What she paid $17 for the generic brand on a discount plan in the U.S. was $11
for the expensive brand medicine here. Another delegate with asthma forgot too
bring his inhaler that cost him $60 in the U.S. The price for the exact same Pfizer
product was $7. He bought several to take home.
A friend of ours and his wife
retired from the U.S. and moved down here. His Blue Cross plan gave him some doctors
and clinic to use but he has only one complaint. Prices are so low that he never
exceeds his $250 a year deductible.
A typical taxi trip around town is still only
a dollar or two.
Whether you want to live a grand
lifestyle or enjoy more modest means, you can get maximum bang for your buck in
Ecuador and especially Old Quito right now.
Learn more about Old Quito
We have continual Ecuador
real estate tours.
I hope to see you in Ecuador. Until then, good
investing!
Gary
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