Should I buy or rent a home in Ecuador?
If you have not spent a lot of time in Ecuador, you should rent before even thinking about buying. We asked expats there about the buy vs. rent decision...
"I rent a two bedroom, two bathroom condo on the 11th floor on the Rio Tomebamba. 24-hour security guards, underground parking I pay $300 a month for rent, gas $8, water $10, cable $52, internet $34 and security is $50," explained one expat living in Cuenca, Ecuador.
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"When deciding whether to buy or rent a home in Ecuador, it's important to consider factors such as your budget, length of stay and living style. If you plan on being in Ecuador for an extended period of time, buying a home may be a more cost-effective option in the long run. On the other hand, if you're looking for more flexibility, you may want to consider renting instead. Additionally, understanding local laws and the differences between buying and renting can be helpful in making an informed decision," said another expat in 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?
Should I buy or rent a home 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 joined Expat Exchange in 2000 and serves as one of its Co-Presidents. He is also one of the Founders of Digital Nomad Exchange. Prior to Expat 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.