Diversifying Lifestyle and Assets
When you choose to invest in property in another country, you diversify your assets as well as your lifestyle. South America is a land of rich culture, traditional practices, and natural wonders. There is so much here to experience, to learn about, and to explore. Think back. Where did you imagine traveling when you were younger? The destinations of your dreams and the topics of college conversations?
Perhaps you were sipping Malbec and eating steak in Mendoza. Or were you watching the sun set against the backdrop of the Patagonia in Chile? Maybe you were in the Galapagos, walking across warm sand and snapping photos of the very finches that inspired Charles Darwin. Purchasing property in a South American country can set you up with a home base to continue exploring the rest of this mystical continent.
Right now, one of the best countries in which to invest is Ecuador.
Ecuador appeals to investors for many reasons. If you want to diversify your assets and extend into the realms of property, owning foreign property is one of the most rational choices. Recently in Ecuador, there has been a huge increase in the number of people who are visiting. In 2014, 1.5 million tourists visited Ecuador. Estimates at the beginning of 2015 expected a 7% increase from the year before. This country attracts more and more tourists each year. Sometimes, those same tourists become so infatuated with the people, culture and land, they decide to invest in their own home and property here. Ecuador Home and Lands, a real estate company that services coastal and interior regions, can attest to the dramatic growth in property investments over the past three years.
One reason many people want to invest is that property prices in Ecuador are very inexpensive compared to prices in the United States. Compared to property in Europe, prices are extraordinary. The purchase of property could start as an investment, but it could also morph into your retirement home or vacation destination. There are a myriad of options. Do you see yourself on the coast? If so, look to Guayaquil, Jama, and Canoa. What about embracing the organic lifestyle in the mountains, living close to one of the top-ranked cities in the world? Look around Cuenca. Ecuador truly has everything. When you travel across the country, you feel as though you’re entering different worlds: you see communities untouched by industrialization and cities thriving with the latest amenities.
Ama la Vida
There’s a very important slogan in Ecuador: Ama la vida. Love life. This national brand came about under the leadership of President Correa, and the words embody the ambiance of this country.
When you come to Ecuador, you find exactly what the country promises: a deep love for the lives of others and for the unquenchable beauty of nature.
Because so many people want to explore this country, renting out your property for shorter and longer periods of time is an excellent way to subsidize the initial purchasing cost. You can use the cash flow generated from rentals and travel around the rest of the continent and country: Machu Picchu in Peru, the Galapagos Islands, Patagonia in Chile, Mendoza in Argentina, and the Salt Flats in Bolivia.
Property for All
In contrast to many countries, you do not need to be a resident to own property in Ecuador. In fact, owning property can be a gateway to becoming a resident. If you are interested in owning property, it’s important to realize that buying property here differs from the typical processes in Canada or the United States. Most transactions occur between the buyer, seller, real estate agent and notary. In fact, many experts recommend paying for the property in cash, as there are high interest rates. Paying in cash can create greater bargaining power too. Working with a real estate agent in the region that interests you can be incredibly helpful.
Ecuador does have some multiple listing services, like MLS-Ecuador, that help real estate agents communicate across city lines and share properties. In Ecuador, it is the law that a real estate agent has a license in order to sell properties. When you know the cities that intrigue you, you can find an agent who will guide you along the way. Ecuador Homes and Land works hard to match properties with your dreams, whether you are interested in owning property for portfolio diversification, retirement possibilities, or vacation rentals. Get in touch. Start loving life.