What do I need to know when buying property in Ecuador?
When we asked expats what advice they would give a foreigner before buying a property in Ecuador, they said...
"Try staying in an equivalent type structure you are considering. For example, if you want a condo in Bahia, stay at a condo in Bahia for a week, Minimum. A house in Cuenca? Rent one for a week. If you think the weekly rental price is too expensive, you'd better take a hard look at investing 75 to 100 times more than that. So, in actually, it pays to do it," mentioned another expat when asked about moving to Ecuador.
"When buying property in Ecuador it is important to ensure that there is a valid title deed to the property that can be presented to the government for taxation and registration. It is also important to make sure to understand any local zoning regulations or restrictions in place which may affect the way the property can be used. Additionally, it is important to be aware that foreign buyers may need to obtain special permission from the government in order to purchase property. Finally, it is important to bear in mind that the official language in Ecuador is Spanish, so it is recommended to enlist the services of a professional translator if necessary," commented one expat who made the move to Ecuador.
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Other Questions:
- What do I need to know before retiring in Ecuador?
- How do I meet people in Ecuador?
- What is life like in Ecuador?
- Is there a lot of crime in Ecuador?
- Is there a lot of diversity? Are people in Ecuador accepting of differences?
- What are the schools in Ecuador like?
- Is the cost of living in Ecuador high?
- What advice do you have for expats having a baby in Ecuador?
- What are healthcare services like in Ecuador?
- Is the cost of living in Ecuador high?
- What type of recreational facilities are in Ecuador?
- What is the weather like in Ecuador?
- Are there good restaurants in Ecuador?
- Where will I buy groceries and do other shopping in Ecuador?
- What are the visa & residency requirements in Ecuador?
- Are healthcare and health insurance expensive in Ecuador?
- What do I need to know when buying property in Ecuador?
- Are foreigners allowed to own property in Ecuador?
- What appliances are typically included in a rental?
What do I need to know when buying property in Ecuador?
If you live in Ecuador, newcomers to Ecuador would love to hear your answer to this question:
About the Author
Joshua Wood, LPC is one of the Founders of Digital Nomad Exchange and serves as Co-President of Expat Exchange. Prior to Expat Exchange and Digital Nomad Exchange, Joshua worked for NBC Cable (MSNBC and CNBC
Primetime). Joshua has a BA from Syracuse and a Master's in Clinical and Counseling Psychology from Fairleigh Dickinson University. Mr. Wood is also a licensed counselor and psychotherapist.
Some of Joshua's articles include Pros and Cons of Living in Portugal, 10 Best Places to Live in Ireland and Pros and Cons of Living in Uruguay. Connect with Joshua on LinkedIn.