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," explained one expat living in Ecuador.
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"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," said another expat in Ecuador.
Other Questions:
- What should I pack when moving to Ecuador?
- Where should I setup a bank account in Ecuador?
- Will I be able to find a job in Ecuador?
- What is life like in Ecuador?
- What do expats in Ecuador appreciate most about the local culture?
- What do expats find most challenging?
- 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?
- What are healthcare services like in Ecuador?
- What are medical services in Ecuador like?
- Are healthcare and health insurance expensive in Ecuador?
- What are emergency services like in Ecuador?
- Will I need to travel to see a specialist?
- Are common prescription medications available in Ecuador?
- How are local medical facilities in Ecuador?
- As a foreigner living in Ecuador, will I have access to public healthcare? What is it like?
- What have your experiences during the pandemic with the local healthcare system been like?
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 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.
