We've made trips to the coast each of the past two weekends; the Saturday two weekends ago (August 10th) was to spend a day with real estate brokers Hector and Noelia, and last weekend was a trip with just the two of us to review the properties and check out a couple of others.
Our original plan looks like it will continue to be our plan going forward. We'd like to find a lot to build on as opposed to something that is "move-in ready". Most of the livable properties are in condos or gated communities, something that neither of us want. We also want to be on the beach ("toes in the sand" in local lingo), so we've ruled out inland lots or a house on a cliff.
As expected, most of the houses that we found are acceptable by Ecuadorian standards but are nothing that we would accept. That might sound elitist, but it's based on cultural differences. Many rural Ecuadorians live their entire lives in houses with dirt floors and no windows. This is partially explained by economics, but much of it is traditional. The thought of putting tile floors in a house is considered foolish by many; the money could be spent on nicer clothes or a new motorcycle.
Here is the unfortunate portion for you, gentle reader (channeling my inner Miss Manners here): I can't provide details about the specific properties we're considering in this blog. "What?!?", you're thinking, "I've been reading this blog from the start and now he won't post the juicy stuff?". I know: it's like reading the first four books in Game of Thrones and getting to the "Meanwhile, Back at the Wall" chapter.
There are a couple of reasons for doing this:
- I'll share the some personal financial information, and that information can't go to the general public.
- Some of the people that read this blog are also looking for property here in Ecuador, and I don't want to give away information that Emily and I have worked hard to discover. (I also don't want to lose out to a higher bidder for a property that I want.)
- The agents that we work with have done a lot of footwork to find these properties, and I don't want to do them a disservice. There is no MLS service in Ecuador; many properties are discovered by knocking on doors and asking the locals about available properties.
- Purchasing real estate in Ecuador can be a very confusing process. One of the properties (which I will describe below) has multiple lien holders, and all of the liens must be satisfied before a clear title can be obtained. If the liens are not fully identified at the time of purchases, the buyer inherits them.
If you know me (and I know you!) and would like to see the details, send me your email address at scott.bloomquist@gmail.com and I'll add you to the private list. If not, I'm sorry about that. I'll continue to post information about the acquisition process, but I won't divulge information about properties that we're pursuing.
That said, here's information about some properties that we've looked at but decided that they weren't for us.
The Ayangue Houses
https://maps.google.com/maps?q=loc:-1.979827,-80.752069&t=k
Pretty sad looking, no? This is typical of the houses that we're finding in Ecuador. Both are tear-downs, but we consider them because they are beach front. Here is the beach view from each house:
(Backside views of myself, Noelia and Hector included at no extra charge.)
This is a very public beach and we've heard that the snorkeling is great, but it's too public for our tastes. Also, as you can see in the second picture above, this beach is on a cove. That provides for smooth water, but it also limits the ocean view and photo-quality sunsets.
The Manglaralto White House
https://maps.google.com/maps?q=loc:-1.850274,-80.746404&t=k
Manglaralto is a very desirable location. It is a twenty minute walk on the beach to Montanita where there are many good restaurants and nightlife spots. Manglaralto itself, though, is a quiet beach community with a few local lunch places and tiendas (small markets).
This is an enormous house in a very desirable location. Unfortunately, the house is primarily used as a hostel, has seven bedrooms and five baths, and occupies 80% of the lot. This house is on the beach, but...
...there is a road in front of the house and a protective seawall. Manglaralto has been vulnerable to beach erosion in the past, so a large seawall has been built to protect the properties there. Emily and I also do not need a house that large! The views from the second and third floor bedrooms are fantastic, but it just doesn't work for us.
The Manglaralto Triple Lot
https://maps.google.com/maps?q=loc:-1.853523,-80.745748&t=k
This is a very large lot just south of the White House. It's 45 meters across and 90 meters deep (145' wide x 290' deep). It's currently being marketed as three individual lots, each one measuring 15 meters (45') of beachfront. However, this is the property that I mentioned above: it has multiple owners, one of whom has left the country to escape government debts. In order to buy the property (even an individual lot), all of the owners would have to agree and sign off their rights to it. (Did I mention that the current owners live in Norway, NYC, South Africa and France?) Also, any government debt obligations would fall to the new buyers. No thanks!
The Puerto Cayo House
https://maps.google.com/maps?q=loc:%20-1.363083,-80.738083&t=k
(It's the blue one.) This is the only "move-in ready" house that we saw during our trip to the coast. Here are some pictures of the interior:
It has many nice features, including:
- Great beach views
- A quiet location at the south end of town
- A second story master bedroom with in-room Jacuzzi
However...
- The kitchen, while functional, needs to be updated
- There is very little yard for gardening
- The beach is very rocky and not suitable for walking
I believe (and Hector also said) that Puerto Cayo is an up-and-coming destination for ex-pats and will probably be very desirable in five-to-eight years. At this point, however, it doesn't suit our needs.
It does, however, come with 5" grasshoppers!
The search goes on...
