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Colonia el Baton Opens its First House in Cotacachi
by Gary Phillips
Ecuador real estate is booming in Cotacachi. A new development here, Colonia El Batan, opened the first of 14 houses Feb. 17, with an inauguration party that had the new owner, Al DeLoach, in tears.
The 3,000 sq. ft. house was commissioned about 5 months ago with the builders and developers, Marcelo and Jimmy Penafiel. For Linda and me, having lived in Ecuador now for nearly a year and a half, something very exciting happened in our experience: The house was delivered to the owner on exactly the date that was promised several months ago!
“Having lived in the U.S., I understand the requirements of North American home buyers,” Marcelo explained. “I understand that they want attention to detail and on-time delivery.”
Marcelo and his brother Jimmy, who both grew up in Cotacachi, formed a partnership to create this development two years ago, buying a plot of land just outside of the city.
Marcelo has been a petroleum engineer for Exxon Mobil for 17 years, living in Washington, D.C. His brother Jimmy is an attorney working for the Ecuadorian government.
After nearly 20 years of the rat race, Marcelo decided to change careers and return home to his roots in Cotacachi and to get involved in Ecuador real estate. From the response of just about everyone who toured the house, he will be a huge success in his new career.
Linda, who is not that easy to please, was thrilled with very facet of the house, which features a garden tub in the master bathroom, adobe fireplaces, tiled kitchen with custom wood cabinetry, beamed ceilings and incredible views.
The adobe houses the brothers are building are unique in that they are entirely hand-made, with eucalyptus beams and adobe blocks made from earth directly from the property itself. The workers use no power tools in the construction.
A Master Carpenter Comes Out of Retirement
When Marcelo and Jimmy heard that one of their relatives, a retired carpenter and furniture maker, was going a little stir-crazy in retirement, they opened a furniture-making shop and put him back to work creating wonderful pieces with the new equipment the brothers purchased. The result has been a win-win situation for everyone!
All of the furniture in Al’s house, and the windows and doors in future houses will be made in their shop. Al is now the proud new owner of custom solid wood furniture made to his specifications from pictures he sent to Marcelo.
The architect, Jorge Echeverria and his wife, on the left, Al DeLoach, the new home owner, and Marcelo, the builder.
Pricing for the houses starts at $45 per square foot, which includes a 1,500 sq. meter lot, or slightly more than 1/3 acre. The minimum house size of 1,500 sq. ft. gives an entry-level price of $67,500 for house and lot. When was the last time you heard of a 3,000 sq. ft. custom-built house that could be purchased, lot included, for $135,000?
The houses, which come in five floor plans and styles, are designed by architect Jorge Echeverria, who took a four-month intensive post-graduate course in Santa Fe, New Mexico, studying methods of adobe construction. Hence the Southwest influence in the design. The houses are specially designed to be earthquake resistant.
As an added benefit for buyers on a fixed income, the director of a bank in nearby Otavalo was present and told me that the bank is willing to provide 20-year financing to foreigners who want to purchase one of these houses.
Contact us if you want further details about financing.
The owner, Al, will be retiring from Exxon Mobil within the year and plans to move here to become a full-time resident of Ecuador. When he saw the house for the first time, just before the party began, he couldn’t hold back the tears. The Casa de los Suenos y Esperanzas, “the house of dreams and hopes,” was exactly as he had envisioned it. He was one happy camper!
Al was very delighted with his new house and custom furniture
A number of Cotacachi expat full and part-time residents, local indigenous families who helped in the building of the house from the nearby village of El Batan, and friends and family of Jimmy and Marcelos, gathered to welcome Al to his new home.
We were treated to a grand meal followed by the rousing music of a Mariachi band. Later, Marcelo and some of his friends entertained us with wonderful guitar music and songs as we danced the night away.
The newer residents of Cotacachi were thrilled at the unique social life that Cotacachi obviously offers to new purchasers of Ecuador real estate.
Contact Pro-Ecuador for more information about purchasing these properties
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