No question: some things in Panama are less expensive than they would be in many parts of the world, and in many places where people choose to live in North America. It all depends!
Take housing for example. It may be cheaper in Panama than some places, but it may not be. It all depends! Food, may be cheaper if you’re looking to live and eat like a local and aren’t looking for prepared items or brand name items which have to be imported and hence cost more. True, Panama doesn’t charge you on foreign income, although if you’re from the US believe me the US does charge you, although if your permanent residence is abroad you can deduct a hefty amount of earned income … NOT investment or retirement income.
So … back to housing.
Here’s a rare Boquete property for under $125,000!
Here’s a special opportunity to stake your claim in Boquete with a small, cute, unique, somewhat funky casita, furnished on a 15,640 sq ft [1,453 sq m] lot that is already beautifully landscaped and planted with tropical fruit trees … hold on, partner! … ALL THIS FOR $119,000!
Here’s what $125,000 buys in Texas …
7741 Los Gatos Dr,
Dallas, TX 75232 – 3 beds 2 baths 1,412 sq ft – $124,900 – Charming and recently updated and remodeled property ready for immediate move in. This home features an open floor plan, laminate floors throughout, large bedrooms, and a two car garage! Large fenced backyard. Convenient location! Lot: 5,009 sqft/
Or Arkansas …
1270 Pyramid Dr, Conway, AR 72034 – 3 beds 2 baths 1,260 sqft – $114,900 Recent improvements: new paint throughout, carpet, and kitchen appliances. Lot: 8,712 sq ft
Or Southern Living in Florida …
4645 SW 122nd Ln,
Lake Butler, FL 32054 –
3 beds 2 baths 1,844 sq ft -$119,900 Home has approximately 2 acres and features three bedrooms and 1 and 1/2 bath recently added. Plumbing and Electrical has been updated. Down stairs features are a Master Bedroom w/ a fireplace, and new recently upgraded spa like Master Bath that over looks a garden. Livingroom with a Fireplace, spacious Kitchen/Dining Combo, with large Laundry Room. Upstairs has split bedrooms and 1/2 bath along with a balcony to over look your front lawn. Home has a workshop and storage shed along with a barn for you livestock.
Even just a train ride from New York City!*
448 Wayne St,
Bridgeport, CT 06606 –
3 beds 1.5 baths 1,940 sq ft – $114,900 You’d be surprised at what this home has to offer including its lovely layout, perfect location, and more! Interior features an expanded bright living room with a delightful fireplace, impressive sun room filled with lots of lights, charming eat in kitchen, enormous Master Bedroom, two additional big & bright bedrooms, pretty powder room, and a gorgeous hallway bath. Exterior features a massive rear deck and a two car garage. Lot: 4,538 sqft [*$13.30 off-peak, weekday fare Bridgeport to Grand Central MTA.]
But who wants to live in Texas, Arkansas, Florida, or the New York urban sprawl? Point taken. It’s just that if all you are looking for is cheap, there are lots of places, some, granted, nicer than others … but lots of places where real estate is cheaper and in some ways the overall cost of living may not be that much more than in Panama.
So why Panama?
It’s the quality of life, stupid! Away from the madness and political and social divide of much of North America. Clean air! Healthy food! An ecological paradise! Long and beautiful coastlines where ocean front property is still affordable. Beautiful people! A laid-back lifestyle. Rated as one of the happiest countries on the planet. And it is a democracy, although not without problems still of corruption, but a country that is booming economically, building infrastructure, positive and looking toward an exciting future.
You buy real estate in Panama and you are buying a chunk of the country and its future … something you miss out on if you just rent. If you’re happy with Texas, or Toronto, or wherever, stay put. If you’re satisfied with 1 or 2% on your money, stay where you are … or come to Panama and rent and let someone else invest and reap the rewards.
And Panama may well be less expensive while giving you a better quality of life. For instance, in an area like Boquete with it’s spring-like climate year-round you don’t need heat or air conditioning! Yes, I can get a haircut for $3 … and it would still be $3 even if I had more hair to cut! A massage runs $45 an hour. A ride on the Metro in Panama City is 35 cents. Car insurance runs about $800 a year, not $800 a month. And you can still find properties that have many years left on their property tax exemption which you inherit when you buy those properties.