Most expats planning to buy a house prefer to do so in Ecuador cities. After all, this is where one can find the essential amenities and establishments that will make life quite convenient. You have access to major hospitals and grocery stores. If you are lucky to live in Quito, you have the benefit of having SuperMaxi near you where you can buy items that you cannot find in local grocery stores.
There is a lot of be gained by living in the cities of Ecuador. But you also have to consider the effects that it will have on both your finances and your lifestyle. Your choice of living space will depend on what you can afford and the type of life that you want to live with your family. Sometimes, you may be able to buy a house that fits your lifestyle but it costs way more than what you can afford. In some cases, you can afford a property but it ends up unable to give you the kind of life that you want to live.
Buying a house in the urban areas in Ecuador
We all know that buying a house is not an investment that you should approach lightly. It will cost you a lot of money. That is why you need to consider a couple of facts about buying a property in cities.
You have to pay more per square foot compared to the more rural areas.
Buying a property in the city will cost you more money. The convenience and comfort that you will have, of course, will come at a price. If you decide to live in Ecuador cities, most of the amenities that you need will be within your reach – just like the SuperMaxi in Quito. That makes all the properties in the city higher in value compared to living in rural areas. The higher prices make it all the more crucial for you to be careful with this real estate investment.
You should be ready to live a more expensive lifestyle.
At least, this is true if you compare it with living in the more rural areas where everything is cheaper. Of course, when you compare it with living back in your home country, even Ecuador cities may be cheaper. But that does not mean you should be extravagant with your lifestyle. Be careful with how you will spend while living in the cities of Ecuador. Remember that if the house you bought in the city is higher in value, the property taxes will follow suit. This is something that you have to pay on a yearly basis.
You have to choose the location wisely.
Living in Ecuador cities mean you have to deal with a certain level of traffic. Try to choose a location that is near the important establishments that you will need to access. These include the hospital, grocery store, marketplaces, etc. You do not want to be in a life or death situation and be stuck in traffic because the hospital is far from your house. If you have no plans of owning a car, being near a terminal or a public transportation system is also a great feature to have.
You have to be careful about living in buildings.
The thing about buying properties in cities is that a lot of them are in condominium buildings – at least, this is what is attractive for expats. Make sure that you know what it is like living in a multifamily dwelling. For instance, you have to deal with the co-ops. This is the governing body that will represent the interest of the general homeowners of the building. If there is a co-op in the property that you will buy, find out the rules and regulations. If you plan to have the unit rented after buying or in the future, make sure that co-op will allow that. These are some of the things that you need to consider.
Buying a property in Ecuador cities can be different from other places in this country but it is rewarding nevertheless. Just be careful about the decisions you will make because buying a home is costly – and you do not want to make a mistake.
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