In 2008, as the world careened into crisis, I bought a condo in the mountains of Ecuador for $40,000.
I didn’t buy it to make money. It was a place where the air was clear, the water pure, and I would have the option of riding out major global calamities.
As the 2008/09 financial crisis blew up, many feared the ATMs would stop working. A bolthole seemed smart and the small town of Cotacachi was perfect.
In the West, banks collapsed, people lost jobs, and saw pensions and savings decimated…
Up in the mountains of Ecuador I slept like a baby. The views from my terrace to Cotacachi were what really sold me on it. That’s where I imagined I’d spend time. Reading, writing, eating healthy.
In the end, I didn’t need my bolthole in the Andes (I never even got around to furnishing it). The world kept spinning and amid the crisis came incredible opportunities.
I eventually sold my Ecuador condo, with no regrets. That was the year I founded my Real Estate Trend Alert group and so I was on the road fulltime scouting real estate and had no time to visit my little getaway pad.
But in today’s crazy world, the idea of a bolthole is still appealing…
A place to escape to…a place where you feel safe…to kick back and relax…and where you like spending time.
So I asked my team to look into bolthole properties in countries that feature heavily on my real estate beat.
Here’s what they found…
Retreat to Costa Rica
Expats have been flocking to Costa Rica’s Central Valley for decades. The spring-like climate, central location, and ready-made expat community are just a few of the reasons more and more expats are deciding to make the Central Valley their overseas home.
The climate is perfect, the Valley’s altitude of 3,000 to 5,000 feet makes it comfortable all year round. Daytime highs are usually in the 70s F or low 80s F, and lows at night are typically in the 60s F. There’s rarely a need for central heating or air conditioning.
Costa Rica’s Central Valley has a perfect climate and a ready-made expat community. This two-bed, two-bath home has stunning views over the valley. Listing here.
This two-bed, two-bath house just outside the center of the town of Atenas has a kitchen/living area, another room that could be used as an office or another bedroom, and a terrace with views of the surrounding mountains. It sits on a lot of about half an acre.
With a direct connection to the nearby highway, the airport is a 25-minute drive and Costa Rica’s capital San José, with all the conveniences of a modern city, is a 35-minute drive. The house is on the market for $275,000.
Another bolthole in Costa Rica is this modern two-bed, two-bath apartment is in a gated community near Escazu. It’s on the edge of a mountain with stunning views of the Central Valley. Community amenities include two pools, a jacuzzi, a gym, a barbecue area, a kids’ park, dog park, river paths and a river itself. The listing prices is just $137,00. See the full listing here.
Escape to Panama
Costa Rica’s neighbor Panama also has no shortage of places to escape.
Take this property my team found…
This house in Panama’s highlands has a pool and a beautifully landscaped…the perfect getaway home. Listing here.
Chiriquí Province on the west side of Panama is an attractive year-round destination with its mountains, rivers, and forests that are home to wildlife that includes tapirs, pumas, and quetzals (the strikingly colorful national bird of Panama).
This three-bed, two-bath house in Los Anastacios in Chiriquí Province is the perfect place to kick back and relax. A landscaped garden and pool are enclosed by a stone wall that stretches all around the property. The house itself is open-plan, with connected kitchen, dining, and living areas. The property is currently on the market for $205,000.
A little north of Los Anastacios is Boquete, the largest town in the Chiriquí Highlands. Set in a valley on the banks of the Rio Caldera, it’s a haven for hikers, birdwatchers, and those looking to enjoy adventure sports in the cloud-forested mountains. This region is also famous for its coffee.
This two-bed, two-bath condo is in a secure community in Boquete. It has a bright open-plan kitchen/living/dining area, the main bedroom has an en-suite bathroom. And the second bedroom could be used for guests or as a home office. The listing price is $179,000.
A Mountain Home in Italy
The Italian mountain village of Ronciglione, about an hour north of Rome, is on the official list of I Borghi piu belli d’Italia (the most beautiful villages in Italy).
My scout Ciaran Madden recently returned from Ronciglione and he was shocked at the incredible value to be found in this charming town that has it all, from small restaurants serving delicious and inexpensive meals to lush forests and a caldera lake with a pebble beach. (You can read more about what he uncovered here)
This four-bed villa is in Ronciglione, known as one of the most beautiful villages in Italy. Listing here.
My team found this four-bed, two-bath villa with a terrace and balcony. It has one bedroom downstairs and three more upstairs, including one with access to the terrace. The house covers almost 1,400 square feet and the garden is over 8,600 square feet. It’s on the market for €175,000 ($184,300).
Also in Italy, we found a two-bed, one-bath apartment in nearby Caprarola. It consists of a living room with kitchenette, two double bedrooms and a bathroom. It’s located a short walk from the historic Palazzo Farnese and is a 15-minute drive from Lake Vico. The apartment needs modernisation but has a listing price of only €28,000 ($29,500).
Hideout in Green Spain
Like Italy, Spain offers Europe at its most romantic…full of historic hamlets, dramatically perched hill towns, stunning country homes, and glorious art-filled cities with centuries of history all around.
Spain’s “Green Coast” (or Costa Verde) is the stretch of the country along the Atlantic Ocean, a land of stunning mountains, verdant forests, and white-sand beaches fringed by emerald-green fields. It rains here, hence the greenery, but if you don’t mind that, there are some bargains to be found…
This stone house in northern Spain was a family home and the seat of a family business. Listing here.
Such as this five-bed, two-bath house in Asturias. The three-story stone house has over 2,400 square feet of living space. The ground floor was previously used for the owner’s family business and la tienda (the booth or store) is still there. The rest of the house is charming with its wooden stairs, floors, and windowpanes. The first floor is divided into a kitchen, a living room, four bedrooms, and a bathroom. On the upper floor there is another bedroom and a large loft. This house is on the market for €189,000 ($199,00).
Now for something altogether more expansive…
A Farm in the Switzerland of South America
Uruguay is known as the Switzerland of South America, a nickname earned for its banking secrecy regulations, as well as its peaceful history and lack of corruption. This little country is wedged in between Brazil, Argentina, the Rio de la Plata, and the Atlantic Ocean.
The capital, Montevideo, has a historic center surrounded by a modern metropolis and is home most of the country’s population, while the bustling resort city of Punta del Este is a famed jet-set destination.
But if you’re looking for a quieter existence, check out inland rural areas, whether it’s the vast grasslands, known as pampas, which are often home to huge cattle ranches, or one of the mountainous forested regions.
We found two ranches/farmhouses to consider if you’re looking for a bolthole with a ranch or farmhouse flavor…
This historic farmhouse in Uruguay comes with a whopping 33 acres of land. Listing here.
This three-bed, two-bath farmhouse is near Garzon in the southwest province of Maldonado. It used to be the provisions store for the local area and is located opposite the Jose Ignacio train station. The property is surrounded by pine forest. Aside from the main house, there is also a former school building which has been converted into a lounge for socializing and barbecuing. A river lies on the land as do acres of olive trees and a eucalyptus forest. The property comes with over 33 acres of land and is on the market for $780,000.
Also in Uruguay, this four-bed, four-bath finca is in Pueblo Eden. It’s about 28 miles from the vibrant resort town of Punta del Este This finca (or estate) is in a compound of 16 other fincas. The main house has panoramic views of the property, which has a swimming pool, fruit trees, a vegetable garden, a chicken coop, and more than 20 varieties of trees. It’s on the market for $900,000.
Uruguay has quietly become one of the best places in the region to invest in real estate. That’s thanks to safety and security, government incentives, top-notch infrastructure and business-oriented leadership.
That’s why my scout Ciaran has boots on the ground there right now. I’ll be sharing updates from him soon so stay tuned.
Ronan McMahon, Founder, Overseas Dream Home & Real Estate Trend Alert
P.S. If you’re interested in any of these listings you should hire an attorney and do your own due diligence. We haven’t done any due diligence on them.
P.P.S. For more listings of affordable overseas dream homes, click here to follow our Your Cheap Dream Home Instagram account.
