Panama
Should I buy or rent a home in Panama?
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If you have not spent a lot of time in Panama, you should rent before even thinking about buying. We asked expats there about the buy vs. rent decision...
"When considering whether to buy or rent a home in Panama, it is important to consider a few factors such as budget, timeline, and lifestyle. Purchasing a home of your own can be a great investment and can provide much stability if you are planning on settling in Panama for a long period of time. However, if you are looking for short-term housing or don't have the budget for a purchase, renting can be a more cost-effective and flexible option. Ultimately, what is best for you will depend on your situation and goals," commented one expat who made the move to Panama.
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"I rented a house. At first I made the mistake of letting a local person insert himself between the owner of the house and me. Money got diverted. Now I'm looking to rent a bedroom only, trying for 80 to 100 dollars per month. Shouldn't be difficult. But mind you, I don't mind living in abject poverty," remarked another expat in Las Tablas, Panama.
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Other Questions:
- What do I need to know before retiring in Panama?
- How do I meet people in Panama?
- What is life like in Panama?
- Is there a lot of crime in Panama?
- Is there a lot of diversity? Are people in Panama accepting of differences?
- What are the schools in Panama like?
- Is the cost of living in Panama high?
- What advice do you have for expats having a baby in Panama?
- What are healthcare services like in Panama?
- Is the cost of living in Panama high?
- What type of recreational facilities are in Panama?
- What is the weather like in Panama?
- Are there good restaurants in Panama?
- Where will I buy groceries and do other shopping in Panama?
- What are the visa & residency requirements in Panama?
- Are healthcare and health insurance expensive in Panama?
- What do I need to know when buying property in Panama?
- Are foreigners allowed to own property in Panama?
- What appliances are typically included in a rental?
Should I buy or rent a home in Panama?
If you live in Panama, newcomers to Panama would love to hear your answer to this question.
About the Author
Joshua Wood, LPC joined Expat Exchange in 2000 and serves as one of its Co-Presidents. He is also one of the Founders of Digital Nomad Exchange. Prior to Expat Exchange, Joshua worked for NBC Cable (MSNBC and CNBC
Primetime). Joshua has a BA from Syracuse and a Master's in Clinical and Counseling Psychology from Fairleigh Dickinson University. Mr. Wood is also a licensed counselor and psychotherapist.
Some of Joshua's articles include Pros and Cons of Living in Portugal, 10 Best Places to Live in Ireland and Pros and Cons of Living in Uruguay. Connect with Joshua on LinkedIn.
