retirement

Cheap rental homes overseas for retirees

Rent homes abroad: Cuenca, Ecuador
Rent homes abroad: Cuenca, Ecuador © Pablo Hidalgo/Shutterstock.com

A streamlined visa process, beautiful scenery and great weather have made Ecuador the hottest retiree option in the world, according to Prescher. "Cuenca has a sizable expat population that has caused prices to rise already, but there are still a lot of affordable rentals in the city," he says. "In expat-heavy neighborhoods, two-bedroom houses go for as low as $350 per month, but rents can go up to $1,000."

With prices varying tremendously from neighborhood to neighborhood, Prescher recommends looking at listings in the local newspaper, which means knowledge of Spanish will help you save a lot of money.

"Expats have started a few rental management companies, but the market is much more individualized than in America because there's no one multiple listing service," he says. "Still, Ecuador is an easy rental market to figure out with a bit of Spanish and some patience."

For those who get the hang of the local market, putting down roots as a renter is pretty easy, Prescher says. "The country offers retirement visas, and they are very easy to get. Plus, the big expat community in Cuenca is open to foreigners, so it's easy to get help after you land."

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