Tips for Buying Propery in San Carlos, Panama
An expat offers extensive advice about buying a home in Panama. She lives in San Carlos, but her advice applies to Panama as a whole - from the best places to buy to the steps in buying real estate.
Popular Areas in San Carlos, Panama for Expats
Pacific Coast beach communities: Coronado, VistaMar, Rio Mar, San Carlos, Gorgona, Buena Ventura, Playa Blanca. Also in mountains: Altos de Maria, El Valle, Boquete.
Searching for a Property in San Carlos, Panama
Inside Panama Real Estate has the most versatile listings AND property management services. Many others can be easily found online. Some specialize in farm or ranch properties, some in high rise condos in Panama City.
What Your Budget Will Buy You in San Carlos, Panama
Luxury condos start at $200 and the sky is the limit. Homes very near to beaches also can be purchased for as little as 250,000. Here in Panama, there are fabulous private properties owned or built by people from literally ALL over the world!
Before You Buy a Property in San Carlos, Panama
DO your due diligence, engage a realtor who A - speaks English, B-is responsive and pro-active, where EVER you are calling them from. KNOW what you are looking for (we made a LIST of 'must haves' and 'must NOT haves'! We found our DREAM here!
We hired a reputable corporate lawyer in a Panama City firm, one recommended by our realtor. Realtor also introduced us to our bank, facilitated in opening our account, and recommended other useful professionals. As always, a truly good realtor is the BEST resource, not just selling ...!
Costs Involved in Buying a Property
We bought a corporation so different rules and tax exemptions apply. Laws have changed but many properties came with 20 year tax exemption at that time (2006). Depending on the property, home, condo, those fees vary.
Foreign Property Ownership
Some years ago the government passed laws limiting "visitor" stays to maximum of 3 months. Property owners apply for and can be granted residency status which may take some time and $$$$, but is a must if the property here will be your primary home.
5 Best Places to Buy Real Estate in San Carlos, Panama
Vista Mar, Rio Mar, San Carlos, Buena Ventura ... all on or next to beautiful Pacific Coast, golf courses, with beautiful facilities, international residents, full service and gourmet restaurants, close to medical facilities and good security. There is a huge expat community living in condos and those run from $200-800 k... or more
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Steps in Buying Property in San Carlos, Panama
1- DO your homework! Find out everything there is to know about Panama! https://visitpanama.com
2 - Make a PRECISE list of what kind of property you want to buy.
3 - Narrow down areas and profile of property you want to find.
4 - Virtually EVERY kind of property can be found online.
5 - FIND a responsive realtor
6 - Be READY to buy! You will find - perhaps MORE - than you're looking for (we did!)