"Well nowadays I can also buy a $40,000 property in Waco, Texas, what'the big deal about Ecuador?"
OK, well, one thing is the holding costs.
Lets take a look at my 4 bedroom, 3 bath house on the coast near Montanita. I currently rent it out.
$0 for insurance (with so much concrete construction home insurance is not common).
$0 for condo or association fees (not in gated community)
$102 a year in property taxes
$7 electric bill last month (with one single person living on the property full time.)
$4 water bill last month
$2.50 gas (bought one tank of gas, this is also subsidized by the government)
Now lets compare this to a 2 bedroom condo in my home state of Montana, USA currently valued around $180,000...
How about a 2 bedroom house in Montana valued around $350-400k...
$0 association fees (not in gated community)
Now, lets throw in the extra cost of my Ecuador 'property management' because I do not live nearby (I live in Quito) and I rent it out short term as a vacation rental.
$5 each time the caretaker has to go and turn in key or recover key from an entering or exiting guest.
$10 for each cleaning between guests.
The caretaker also is in charge for paying the energy bills, and does NOT live on the property. All guests prepay online, I do all the marketing myself.
Holding costs, a big reason to consider Ecuador.
Saludos until next time,
Quito Airport Suites