Thread: living in panama fact or fiction

been looking for aplace to retire and have been looking at panama. i just got this email from a site which whats to sell me information about panama. they say that at some farmers markets potatoes are around $0.35 a lb also papayos the same price or smaller ones for 10 for$1. the growing expat population is learning how inexpensive it is to live like a local.movies for $4 satiny couch cushions for $0.99 and groovy beaded lamps for $5.99. they arealso saying that you can live on $1,059 a month social security and also living well without having to sacrifice the things you love. they are also saying you can still rent a panamaanian style home for $450 a month. so how about someone that really lives in panama are these statements true? would love to to hear from people really living the good life

Hi!

Don't buy from people wanting to sell you information. The email you got sounds like an email we got 12 years ago (LOL). A lot of it tends to be outdated. Some of the prices are about 10 years old and they always have rose colored glasses on.

Usually a Panamanian house has NO hot water, cement floor and 1 bedroom. Many expats have casitas that they will rent for those prices - everything depends on where you are. Now do you want internet, TV in English, hot water, screens on windows, etc.? In the city there are different people that have posted on here they have rented a no frills apartments for around $450. Everything is about location in this country.

If you are coming on a tourist visa you will need to leave the country every 180 days for 3 days AND they do change it back to 90 days every once in awhile. There are various visas available that will cost starting at $800 so you can stay in the country. Usually the people selling information will suggest the high priced lawyers and tell you what you want to hear.

I have been here for 6 years and love it. We came down here and bought property in 2002 and built in 2004/2005. We were here before the last big boom and have seen prices skyrocket! We live on my husband's social security very comfortably, but then I own both vehicles and our home. We also got a 20 year exemption on our property taxes when we built our home that is no longer available - there is a scaled down expemption on property taxes. The pensionado program is great IF you qualify for the program. Some discounts we take advantage of and others we don't. There are a lot of websites out there that have misleading or outdated information on them. Currently you need $1000/month from a guaranteed for life source, and if you have a spouse you need an additional $200. Also if you purchase property you can get the guaranteed income down to $750/month.

Do your due diligence and search previous threads, look at various yahoo groups for information, etc. Come down here for 6 months to see if you like it. That way you can travel around the country and see what suits you the best. There are a lot of people that have just jumped and moved down here and later find out they don't like it and are unhappy with PANAMA.

PANAMA is not for everybody.

Mary
www.whypanama.com

Originally Posted by mrwong

been looking for aplace to retire and have been looking at panama. i just got this email from a site which whats to sell me information about panama. they say that at some farmers markets potatoes are around $0.35 a lb also papayos the same price or smaller ones for 10 for$1. the growing expat population is learning how inexpensive it is to live like a local.movies for $4 satiny couch cushions for $0.99 and groovy beaded lamps for $5.99. they arealso saying that you can live on $1,059 a month social security and also living well without having to sacrifice the things you love. they are also saying you can still rent a panamaanian style home for $450 a month. so how about someone that really lives in panama are these statements true? would love to to hear from people really living the good life

you can take everything Mary posted below as right . she knows what she is talking about , but like she said you need to come and visit lots or for a long term to see if panama is for you , dont buy that crap , buy a plane ticket

well it looks like if you went to panama about 6 years ago it was a really good deal, not so much now but it has really help me look into where to live or stay and thanks for allthe information that i have received very helpful

There are bargains to be had, but you won't find them on the internet.......... most sites promoting Panama are scams.

A friend of mine just bought himself a small Pana style house up in the hills above Penonome for 2k....... but.......... need a 4X4 to get down to the property. He parks in the village center and walks down to the house. No hot water......... who really needs it here anyway. He has electric, cellphone service, and internet is available but not at a decent speed. He loves it

I bought a basic Pana house, 2 beds, no hot water and cement floors for 30k last year, was renting it for 150 a month for the year before that. Spent about 5k so far, building a wall around the property, a garage/shop, extended the kitchen to allow room to move, and a covered terrace. Even got round to tiling most of the floors too. I'm only 5 mins from Ave Central in Penonome with Hi Speed internet and all the normal town facilities.

So much depends on what you want for a lifestyle....... Penonome is a quiet market town with little to do if you want restuarants, entertainment and cinemas. But........ I'm never at a loss if I want to go out for a drink with friends or a meal with the bosslady. Just need to adapt to the local environment. This aint Texas.

Rik