Two Homes For Less Than $120,000 in Ecuador

When my wife, Suzan, and I bought our condo in the mountain town of Cotacachi, Ecuador, we figured we were done shopping.

After all, we had a modern apartment in a thriving little craft town with absolutely perfect weather year-round. When we’re there, we spend less than $1,500 per month, and we have all the benefits of an active and growing expat community.

Then we met Ron and Terresa Moore.

Not long ago, Ron and Terresa were having a tough time back in the U.S. They’d both lost their jobs and were watching their hefty nest egg evaporate before their eyes, thanks to a global economic downturn.

So they pulled up stakes and moved to Ecuador.

Today, Ron and Terresa are our neighbors in Cotacachi. They live in a 1,100-square-foot, two-bedroom condo they bought for less than $50,000. It has a balcony and big windows with views of the majestic Andes.

Not only that…they’ve also just taken possession of a new two-bedroom beachfront condo in Crucita. Their building is directly in front of the beach, and their balcony looks right out over the community swimming pool to the vast blue Pacific Ocean.

The cost for this condo? Just $61,000.

You read that right. It means Ron and Terresa now have a snug little mountain hideaway and a Pacific beachfront condo, and they paid less than $120,000—for both of them!

Though we’d spent time in Crucita back in 2001, after talking with Ron and Teresa, we decided to check things out there again.

Thankfully, Crucita hasn’t changed much. We found a few more homes and a couple new high rise buildings on the southernmost end of the long, sandy, crescent bay.

Here, real estate prices can suit any budget. We found condos in one new high rise development starting from $66,275…that was for an 860-square-foot unit with an oceanfront balcony looking onto the Pacific. It comes with access to a large community area with a BBQ and swimming pool.

We found land for a snip. Like a 6,456-square-foot walled beachfront lot selling for $50,000—and construction costs here are just $65 per square foot for high-end finishes. Ocean-view land is still available high in the hills above the bay for $1 per square meter (about nine cents a square foot).

Editor’s note: Dan’s full property report on coastal Ecuador is in the current issue of  International Living magazine. Subscribe to the magazine here and you’ll get instant access to Dan’s full article.