Should I buy or rent a home in Panama?
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...
"We decided to rent. We sold everything we had in the US and want the freedom to move if we are ever inclined to do that. We rent furnished and love not worrying about maintenance or replacement of anything. Buying abroad can be tricky and I would encourage anyone buying to do due diligence. As for us, we are happy renting," said a member in Nueva Gorgona, Panama.
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"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," remarked another expat who made the move to Panama.
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Other Questions:
- What should I pack when moving to Panama?
- Where should I setup a bank account in Panama?
- Will I be able to find a job in Panama?
- What is life like in Panama?
- What do expats in Panama appreciate most about the local culture?
- What do expats find most challenging?
- 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?
- What are healthcare services like in Panama?
- What are medical services in Panama like?
- Are healthcare and health insurance expensive in Panama?
- What are emergency services like in Panama?
- Will I need to travel to see a specialist?
- Are common prescription medications available in Panama?
- How are local medical facilities in Panama?
- As a foreigner living in Panama, will I have access to public healthcare? What is it like?
- What have your experiences during the pandemic with the local healthcare system been like?
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 is one of the Founders of Digital Nomad Exchange and serves as Co-President of Expat Exchange. Prior to Expat Exchange and Digital Nomad 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.
