The time could not be better for renting or purchasing property in Bahia Ecuador. The longest bridge, in Ecuador, opened in Bahia on November 3rd 2010 and that has made travel to the northern part of the country, in particular Quito, more accessible.
The Bahia Ecuador real estate market is safe and abundant but here are several tips which may be helpful to you.
When a person, from another country, checks out the Bahia Ecuador real estate market, often they do not have the time to learn the small nuisances which may make the difference in renting or purchasing the perfect place for them.
Bahia Ecuador is a peninsula which means that Bahia is bordered by the Pacific Ocean from the northwest and the Chone River which has created a bay on the southeast side. The bay separates Bahia from San Vicente.
On the bay side of Bahia Ecuador you will find more water activity. There are water taxies, fishing boats, sail boats and the occasional water skier or Jet ski.
The bay side will also enjoy a beautiful sunrise each morning.
On the Pacific side of Bahia Ecuador you will see ten or so fishing boats going out to sea during the morning and coming back during the evening. Also you may see an occasional sail boat coming or going.
On the Pacific side you will enjoy a beautiful sunset each evening.
One of the most important factors to take into account, while searching for your perfect place to live in Bahia Ecuador, is the breeze. There is more of a breeze on the Pacific Side of Bahia than on the bay side. This breeze not only helps to keep you and your condo cooler but it also cuts down on mosquitoes.
Another important factor is music and parties. While Bahia is a relatively quite village, during holidays and the so called high season, the music can sometimes be troublesome during the early hours of the morning.
The closer your property is to the point of the peninsula the quieter things will be for you. The closer you are to the central areas of Bahia the more noise you will find.
Okay, having said all of that, here is what you can find in the way of condo purchasing or rentals.
Renting Real Estate in Bahia Ecuador;
In Bahia Ecuador you will find several beach front condos for rent. Depending upon whether or not you want the condo furnished the rental price can range from $400 per month to $800 per month. For this price you can expect to sign a one year lease for a three bedroom apartment with two to three bathrooms.
While the majority of each view is excellent the most spectacular view will command the highest rental price. In Bahia Ecuador, remember to negotiate, negotiate and negotiate. If the landlord is asking $500 per month keep in mind that a one year lease carries power.
Also keep in mind that during the high season (June, July & August) the price will be higher. Before signing a lease, make certain that the building expenses (fees) are included in the monthly rent. Renters rarely pay these fees; however, if they can trick you into paying them, they will try.
If seems that the bay side of the peninsula is a touch more exclusive and carries a higher price than on the Pacific side of Bahia, however, there are rentals available on both sides.
If an ocean view is not important to you and you move inland a block or two you will find that real estate rents for a much lower price (below the $400 mark).
Purchasing Real Estate in Bahia Ecuador;
There are normally eight to ten, beach front, condos for sell at any given time in Bahia Ecuador and real estate moves fairly quickly. Prices will run between $70,000 to $130,000 on the Pacific side and $90,000 to $225,000 on the bay side. Of course, there are very nice places, and then there are places which need quite a bit of work.
Remember to negotiate.
Normally you should negotiate a price $6,000 to $15,000 below the asking price. During the high season, there are more buyers in Bahia and because of this you can expect to pay an additional $10,000 more so plan your purchase date carefully.
Most times, a property can be purchased within three to four business days and of course, cash is required. You should open a saving account upon your arrival so you can transfer moneys to this account in order for a quick purchase. Most times it will take approximately five hours to complete a bank transfer.
It is recommended to have a local attorney. Your attorney will protect you and make certain that no money is owed against the property at closing. Also, make sure that your parking space and storage space is included in the purchase price.
The price of real estate in Bahia Ecuador has increased approximately 12% per year for the past several years so keep that in mind as you begin your search.
Good luck with your search and welcome to Bahia Ecuador.
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