Cotacachi is one of the Ecuador cities that you need to consider when you want to retire in this country. A lot of expats have already experienced a great life in this city and we will explore why that is so.
Among the top reasons why this place is so popular among retirees is the weather, the scenery and the low cost of living. This place is situated in a fertile valley that is sandwiched between Volcan Cotacachi and Volcan Imbabura. It is in the Andes Mountains so you can expect that the climate will be quite chilly – despite the fact that the country lies along the equator. This results in a beautiful spring-like weather that is appealing for a lot of retirees.
If you do not like the heat and sands of the other Ecuador cities, yet you do not want to live on the big metropolitans of Quito and Cuenca, then Cotacachi is the perfect destination for you. There is a tranquility in this place that you will not find in the bustling cities of Ecuador. It is clean, peaceful and does not have the traces of the corporate rat race that is popular in the United States.
Why you should retire in Cotacachi
If the previously mentioned facts appealed to you, then you will love Cotacachi even further. Another reason why this is a great retirement destination compared to other Ecuador cities is because of the convenience that you can experience here. But in case you find yourself suddenly longing for the big cities, Ibarra, which is the largest in the area is a mere 20 minute bus ride. Quito, the capital of Ecuador is a 90-minute travel from Cotacachi.
Settling here might take a bit more hard work since you typically get a lot of your items from the cities but once you have everything you need, everything should be a breeze.
The cost of a property for sale in Cotacachi can cost between $60,000 to around $170,000. It can go higher or lower depending on the developer or the agent that you are talking to. This is why you need to get in touch with a real estate lawyer when buying a real estate property in any of the Ecuador cities.
The rent in Cotacachi, believe or not, can be as low as $150 a month. If you own your condo or a home in a gated community, you can expect to pay $100 tops for the security and association dues. Cable can be as high as $100, Internet for $50 and two cellphones for $35 – but this is luxurious already. If you live without being too extravagant, you can spend only $200 on your utilities and other subscriptions.
Other costs include health insurance ($100-$120 for a couple), transportation ($75), medications ($50-$100) and a once a week housecleaning ($50). Any shopping trip to the city of Ibarra can cost $0.90 only and that is a round trip ticket already. A comfortable cab ride will take you back around $10.
If you are not too extravagant, a retired couple can live on $500 to $700 a month – including rent. If you live in your own home, the cost can go up because of the association dues. Living on $1,500 iis already considered to be a luxurious life.
Your food and groceries can be budgeted between $250 to $500 – depending on how many you are at home. You can actually get a meal for $1.50. Although this place does not have the big supermarkets, you will have fresh fruits and vegetables all year round. They also have fresh meat although this is not as cheap as the other produce.
Retiring in Cotacachi is rewarding but make sure that you know that you are getting yourself into. Back in 2011, there had been reports are robberies within the expat community. While that is no longer the case right now, you should ensure that you choose a safe community for you to live in.
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