Buying Property In Ibarra, Ecuador

“Kathleen, I need to share with you my experience in Ecuador, which began after I read your articles about Otavalo, Cotacachi, then Cuenca a few years back. I have been to Ecuador from Cotacachi to Vilcabamba. Initially I had picked Cuenca, which was the object of two of the four trips. My last trip to Cuenca was entirely focused in finding an acreage to buy, but the prices were far beyond my reach.

“When I came back home I read about Ibarra in your e-letter, and it took all my attention. I searched and found a few properties of interest. One sounded too good to be true so I hopped on a plane and went there to check it out. It was more than I expected. It is located in the southern part of Carchi Province, near Mira. I bought it! It is 3.5 hectares and cost me US$42,000 total including all the paperwork and attorney fees. It has a two-story, 120-square-meter house to be completed. It needs a roof, flooring, etc. Electricity and water are a few yards from the house. The land is high up and surrounded by gorgeous and taller mountains. It has a lot of water, the climate is perfect at 6,400 feet, and there are no mosquitos.

“There is an old pebbled road that goes a little farther from the land, and there is a bus that passes by twice a day.

“I am now back in the States getting all the paperwork in order for my residency in Ecuador. I am receiving Social Security retirement benefits of about US$1,100 per month. From my calculations, with the house built, furnished, and all initial expenses dealt with, such as a car, appliances, and so on, my monthly expenses should be around US$400 including massage and acupuncture therapy once a week, restaurants, and some shopping. Not bad at all for a total investment of less than 65K!

“Thank you so much for all of our reporting. It was absolutely crucial for me!”

–Jorge B., headed for Ecuador

Continue reading: Ecuador’s National Healthcare Plan Available To Foreign Retirees

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