Dear International Living Reader,
In Ecuador, you can have it all...but it doesn't come without sacrifice.
At times, International Living
is accused of seeing the world through rose-colored glasses... of
overlooking the bad and omitting the blemishes. If you've been here in
Quito the past few days, you surely would not agree with that.
Because
the expats who live here have come out into the open and are telling it
like it is. No holds barred. The unvarnished truth and then some...
I'm Suzan Haskins and I've been reporting to you these past three days from Quito.
To
say it's been eye-opening is an understatement. I live in Ecuador and
have been doing so on-and-off for the last 12 years. But even I learned so mucho mas from the speakers at this event about Ecuador that I didn't know before.
This
is one of the most hospitable countries on the planet where, we
learned, everyone from the president and the government on down are
welcoming foreign retirees and expat families with open arms. But there
are some surprises beyond the welcome mat...
The
final panel discussion was particularly telling, with the audience
throwing random questions at the panel. They were asking about the
challenges to living in Ecuador, the up-and-coming destinations no one
talks about, personal safety issues, importation rules, and
more—like...can you drink the water... can you bring or own firearms...
what will be the effect of any possible future inflation rates on
retirement nest eggs... what if you have asthma or allergies... is
Ecuador for you?
In
another session, we even learned about how to import your household
goods. Like when to start the process and how long it takes. (And
importantly, how much it costs.) What can you bring? What must you leave
at home?
You can learn what
we've learned. Should you want to listen in to any and all of the
presentations, introductions, or panel discussions from this conference,
you can. I've sent you details about how to do just that and I'll do
that again here, at the end of this report.
How Patrick Found his Paradise...
But first... I want to tell you about one of the most inspiring speakers on the roster today...
Patrick Robinson has
a Burl Ives countenance, down to the deep, distinctive voice. (The
problem is, he says, "I’m starting to look like him!")
Living on the island
of Maui in Hawaii (the most expensive and overtaxed state in the union,
according to Patrick) he made a snapshot list of what the perfect
society might look like: Plenty of water, good weather, mostly agrarian,
enough exports to support the population, but not to be dependent on
those exports, a stable non-dictatorial political environment, and
sweet-natured people that were welcoming of foreign immigrants.
The more research he
did, the more convinced he became that that place was Ecuador. One part
of Ecuador in particular jumped out at him. But still, he wasn't sure
he should go off on this adventure. After all, he was more than 80 years
old at the time. And that was six years ago!
"Did you ever wonder
why people are so afraid of change?" he asked. He weighed the risks
versus the rewards, the challenges against the benefits... At his age,
could he do it? Uproot and start fresh?
He struggled with
the idea, he admits, but he knew he had to make a change. Hawaii was
just too expensive...and Patrick plans to live for many, many more
years.
After a gentle push
from a young friend, he found himself in Ecuador's lush, green
Vilcabamba, also known as the Valley of Longevity.
"And I knew I had found my home," he said. "Most importantly, my expenses are now one-fourth what they were in the U.S."
Today,
Patrick Robinson is living happily in Vilcabamba where he writes about
the secrets to healthy, happy living. ("Vilcabamba has the best water in
the world," Patrick says, "Just Google it and see if I’m not right.")
From
his office window he enjoys a bucolic view of sleek stallions grazing
an emerald-green pasture, a quintessential babbling brook and
wildflower-strewn mountains in the background.
"The rewards far outweighed any possible risks," said Patrick. If he can do it at 80+, so can you...
Nothing to Fear (and Much to Gain), But Proceed with Eyes Open...
Some
of the presentations over the last three days have been about real
estate. And nope, no one is trying to sell anything. Local experts
(attorneys, real estate analysts and more) have explained how to go
about properly and safely buying property in Ecuador.
(By
the way, everyone noted that real estate prices in Ecuador have been
rising in the past year or two, but they’re still among the lowest in
the world—especially for beachfront property.)
International Living
correspondents and expats from all around the country have profiled
their favorite places in Ecuador (Cuenca, Cotatcachi, Vilcabamba, Loja,
Quito, Salinas and many coastal locations, in case you're wondering)
where living is carefree and costs are low.
They’ve
shared some extraordinary property picks, too—like a popular beach town
where you can buy a seven-bedroom home for little more than $100,000.
Bed-and-breakfast, anyone? Or a pretty three-bedroom/ three-bath home
across the street from the ocean on a huge lot with room for expansion
of land...with a Jacuzzi...for just $179,000.
You
can easily build a home in Ecuador for $30 to $50 per square foot. And
of course, you can spend more—it totally depends on your tastes, needs,
and the level of style you’re after.
If
beach living is more your style and you prefer to rent instead of buy,
you're in luck. Amy Pinoargote offered an in-depth tutorial on renting
in Ecuador: How to find rental properties, how to determine the
amenities included, what renters typically pay for and what they don't
(utilities, homeowners fees, etc.).
Step-by-step,
she and others explained your obligations, responsibilities, carrying
costs, fiscal benefits, and more...as either a purchaser or renter of
real estate in Ecuador. Thinking of buying a property you can rent when
you're not there? We learned all the pros, cons, and details of that,
too.
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