Are You Still dreaming of that $40,000 beach house?
Do you think that finding a cheap beachfront property is a thing of the past? Well let me ask you this - if you did pay $40,000 for your beach house, how long ago did you buy it? My best guess is that it would have been about 30 years ago if you’re located in the US, in Puerto Rico, over 15 years ago and in Costa Rica, over ten years ago - no question.
But if you didn’t manage to get your dream beachfront house back then, there’s another chance to get your hands on this type of real estate and what’s even more interesting - at a good price. Even now in 2008 there is a place a few hours by plane from Miami, with Hawaiian weather, friendly locals, outstanding beaches and where foreigners are not only welcome, but encouraged to purchase real estate.
The place is Ecuador. It’s amazing how long it’s slipped through the cracks.
1. So the first step towards your dream $40,000 beach house is to find out where you can find one. Not in the US (obviously), not in Costa Rica or Panama, but in Ecuador.
2. The second step is to define exactly the type of property you would like (condo, plot of land, house) suitable for your budget obviously.
3. The third step is to browse to www.kayak.com or similar site and book a round trip flight to Ecuador. In general from Miami, New York and LA round trip flights can be purchased starting at approximately $400.
4. The fourth step would be to do some preliminary research on the net. Remember that any listings you may find in English are probably priced for foreigners, sometimes at double or triple the price you’d be able to find locally. There are great places online to find listings, but that is covered more thoroughly in the report mentioned at the end of this article.
5. The fifth step would be to go to Ecuador giving yourself as much time as possible in in this wonderful country. A few months would be ideal, but this all depends on the time and finances you have available. Once there, make some local friends, get acclimatized to the culture and decide if Ecuador is right for you. Easy ways to make local friends would be to go to the local churches, take Spanish lessons, chat with the locals on the beach or join local clubs with similar interests as you have.
Then with a few local allies on your side, ask them to recommend a few trustworthy real estate agents and local lawyers.
6. The sixth step is to start your house hunt. Hire a car or take public transport down to the coast, decide where you want to live and walk the streets yourself looking for phone numbers that are generally painted on the sides of buildings indicating they are for sale. Have a local friend help you make contact (so the prices are jumped up when they hear your accent.)
7. The seventh step would be to have your lawyer check out the papers of the properties that interest you, making sure they are in order. If the papers are in legal order, you make a bid similar to the US, but in Ecuador you will probably be dealing directly with the owner. Locals prefer to sell their houses themselves instead of through agents.
If the bid is accepted, a sales contract similar to those in the US is signed, where closing of the sale takes only a few weeks in Ecuador. Closing costs and fees are only a fraction of those charged in the States.
Beachfront land plots in the $20,000 dollar range are still available. Castles on seafront cliffs are available for around $150,000 and attractive little seaside houses can sell for as little as $40,000, but only until the area is discovered.
For the absolute need-to-know info before you start beachfront house hunting, like how to find the hottest deals and avoid the scams, check out the full report on Ecuador Beachfront property at http://www.group800.org/travel/goto/40K-Beach-house.html
Tags: beachfront real estate, cheap beachfront properties, equador real estate, latin america travel, Travel
