A Beach House That's Almost Too Good to be True

Saturday, March 13, 2010

Dear Reader,

Last April, I told you about my #1 $100,000 beach house recommendation: Coco Beach in Ecuador.

Last week I visited, to see how construction of the first beach houses is progressing. I had high expectations of developer Gary Swenson's work. His work exceeded those expectations. Take a look for yourself. Here's some video I took : http://sharing.theflip.com/session/4c26b357fd5645abe84d94444474f85a/video/11437806.

The site was humming with activity: http://sharing.theflip.com/session/21c8409106f0f9cbb30270bd56ab9fce/video/11467859.

Gary's skilled artisans make all the doors, cabinetry, and wood finishes onsite. The result is very impressive.

I also took some video from the back of the property, driving parallel to the beach. This will give you a sense of the surrounding terrain: http://sharing.theflip.com/session/18ae2a4328f353faa64b738e72662391/video/11502168.

Today, prices have risen and you can't build a beach house here for $100,000. Today, you'll pay $105,188. Prices have risen more than this, in fact. However, developers Larry and Gary Swenson made a discount of 10% available to attendees of International Living's Ultimate Event in Quito a few weeks ago. They have agreed to extend this offer to you. For now, you can still buy a lot and build a beach home here for $105,188.

If you have been following these dispatches, you will know that accessibility along this stretch of coast is set to improve. Work on the coastal highway is well advanced. Only a few stretches are still bumpy. Mostly you drive on a road like this: http://sharing.theflip.com/session/fa72cb39d475be988fbbaaec15ed8727/video/11502236.

Work on the bridge between Bahia and San Vicente is ahead of schedule, with the finish date bumped up to November this year. With the bridge and highway completed, this section of coast will open up to a new market of tourists and property buyers--and we know what that means: higher property prices.

See below for my full report on Coco Beach. I don't expect the discounted lots to last long. Inquire here today.

Ronan McMahon

You might think that owning your own slice of Pacific Beach is outside your budget...but with today's discount of 10% on 2 lots only, the start price for your beach house on a beach like this one is $105,188

Dear Reader,

The developers of Coco Beach, brothers Larry and Gary Swenson, offered a 10% discount on lots in Phase B of their development, to the first two cash buyers at International Living's Ultimate event...and they're extending the offer to Pathfinder readers, too. But remember, only two cash buyers will get the discount--so contact Larry here today to find out more.

You can choose which lot in Phase B you want (the lots average a quarter acre, and with the discount, prices run from $46,688 to $62,622). Construction costs for a 1300 square foot home come in at $58,500. This means that you can build your own Pacific beach home for $105,188.

In most countries, it's hard to find a beach house for $100,000. I should know--I spend about 40% of my time scouting real estate near coasts.

But in Ecuador, if you've got around $100,000 to spend on a beach home, you can get all the trimmings--a nice house, big beach lot, upscale community.

The cost of land here is low, construction quality is high, and construction costs are the lowest I've seen. This means that you can buy a big piece of beach and build your own home here for $105,000--with the 10% discount offered by Coco Beach.

Ecuador has 1,400 miles of coastline. The most under-developed section of coast lies between Atacames and San Vicente. Semi-dry forest covers the hills. The beaches extend ribbon-like along the seashore--pristine, empty, and beautiful.

Life here is simple, relaxed, and friendly. Swinging in hammocks is a popular way to pass the tropical afternoons. Beach towns Canoa and Jama are popular with surfers, who pick up the pace a little at weekends.

Four miles from Jama along a new road and just outside the village of El Matal, you'll find Coco Beach Village. I know the developers, brothers Gary and Larry, behind this gated community. They didn't like the way the local planning authority encouraged unsightly, ecologically unsound building practices. So, impressively, they spent the past three years getting the local government to change the rules.

Thanks to Gary's and Larry's determination, instead of a large group of small lots with busy streets...Coco Beach has a small group of large lots--just 66 subdivisions set amid 21 acres--with two quiet streets.

Instead of a big boardwalk separating the homes from the beach...you can step out your front door and wiggle your toes in the sand.

And because all the utilities are underground, the views over the virgin beach are uninterrupted.

Every building lot will have green areas, and a thousand coconut palms spread throughout the development. You can see one of the homes in the development being constructed below.

Even in a high-end project like this, with the 10% discount on those 2 lots, you can still get a beach house for $105,000.

Lot sizes are big in Coco Beach, averaging a quarter-acre. Construction costs run from $35 to $60 a square foot; $45 per square foot gets you a good standard of construction. This means that a $58,500 budget builds you a 1,300-square-foot beach home in this gated community.

While today this stretch of coast is the least developed, this is set to change. Access is set to improve dramatically. This area will become the closest beach area to Quito and its new international airport. Construction on a new highway that is being built from Quito to Pedernales is well advanced.

This has been the least accessible stretch of Ecuador's coast. Work is also progressing on schedule on the bridge from Bahia De Caraquez to San Vicente. It will be the longest bridge in Ecuador. According to Ecuador's President, Rafael Correa, this project is second only to Quito's new airport in importance for Ecuador's tourism industry.

Put simply: this stretch of coast will become accessible. These projects are elements of the overall infrastructure plan, which is to connect Manta with Quito via Bahia with a 4-lane highway.

This is good news for readers of The Pathfinder Alert who have bought at Coco Beach. The project is progressing. The third house is under construction in addition to the first spec house. This stretch of coast will become more accessible and desirable. Today, you can still buy a lot and build a house here for $105,000--but only if you're one of the first two buyers. This situation won't last long.

Ronan McMahon

A Beach House That’s Almost Too Good to be True