A couple of years ago I started to do some writing about Panama for Live and Invest Overseas. Although I was given editorial prerogative, I was encouraged to tell the truth and to make Panama and encouraged to make the locations I visited attractive. When I actually wrote a very negative piece, on Taboga Island, to the credit of the publisher, it was published and I continued to write for several more months. Later I was replaced by someone younger with a less jaded perspective. I am not criticizing Live and Invest Overseas, I think they provide a useful service to people exploring the possibilities of moving to various locations. The statement I wish to make is the obvious observation, Panama is not for everyone; no place on earth is perfect.
Over the last six years living here I have made many friends. Of the expats I met, many have come and gone in that time. I can compare that to my thirty eight years in Tucson Arizona where many friends came and left as jobs and opportunities moved. But this is “paradise” why would you leave paradise when you are no longer following a job.
For several months I have been asking readers questions in the poll on this site. The number of responses is low and not statistically relevant to anything except this subjective post.
The Face of Boquete, Where did you come from?
- USA (71%, 87 Votes)
- Canada (12%, 15 Votes)
- Other (7%, 8 Votes)
- United Kingdom (5%, 6 Votes)
- Netherlands (2%, 2 Votes)
- Native of Panama (2%, 2 Votes)
- Germany (1%, 1 Votes)
- Sweden (1%, 1 Votes)
- Switzerland (1%, 1 Votes)
- Costa Rica (0%, 0 Votes)
- South America (0%, 0 Votes)
Total Voters: 123
Of those who responded most, 83%, came from the US and Canada, both of which have a very different culture, language and legal system than Panama.
If you live here in Panama, how long have you lived here?
- more than 5 years (34%, 46 Votes)
- Less than a year (24%, 33 Votes)
- between two and three years (17%, 23 Votes)
- between one and two years (11%, 15 Votes)
- more than 10 years (9%, 12 Votes)
- my whole life (5%, 8 Votes)
- Total Voters: 137
About half of the respondents to the second question have been here five years or more, about half less.A pretty good spread of people who have been here both long and short term.
Do you own or do you rent? If you answer rent please read RENTERS ONLY, If you own a home please read OWNERS ONLY. You can answer the second question.
- I have lived in Panama for more than 5 years and own my home (34%, 40 Votes)
- I have lived in Panama for less than 5 years and own my home (25%, 30 Votes)
- I have lived in Panama for less than 5 years and rent my home (20%, 24 Votes)
- OWNERS ONLY: If you own, if you could sell your property would you leave Panama? (15%, 18 Votes)
- RENTERS ONLY: would you buy here if you could sell property in another country? (9%, 11 Votes)
- I have lived in Panama for more than 5 years and rent my home (8%, 9 Votes)
Total Voters: 119
The last group of questions was the one I want to ask, it was designed to elicit an idea of how many people who have been here past that five year pivot point would leave if they could sell their property. Eighteen of the the forty people who indicated they have been here more than five years and own their own homes responded that if they could sell they would move on. Eleven of the twenty four who rent said they would buy if they could sell their homes in the home country.
When I arrived here in 2006 most of the expats in Boquete had grey hair and were either retired or trying to turn a hobby into a new career. The exceptions were the real estate developers, they were here to make a killing, most of them left with their tails between their legs and a lot less than they had when they arrived.
As the economy up north began imploding I observed an increasing number of younger families with children arriving. They made the community richer and multidimensional. Recently most of those I know in that age group have left Panama. In addition several of the retirees have also pulled up stakes and left. I have no statistics but I do have anecdotal stories.
For the younger people the common thread is either the inability to provide good secondary educational opportunities for their children, the inability to earn sufficient income to stay or a combination of both. I have also heard of the pressures of distance from families. Some people I spoke to have discussed the difficulty of maintaining a marriage in an environment with so many “attractive latinas”; divorce is a big issue for new immigrants.
Those retirees I have spoke to who have left and are willing to discuss it ,almost always say the same thing, family and health. They miss their families and worry about receiving good healthcare in Boquete. Some more recently have added another dimension, they have said the people arriving from north now are different. Different in political views, different in economic means, just different.
Many of those who left the US during the Bush years left with some money and bought homes here, they made an investment in the community. Now in the Obama years we are seeing people leave despite the fact they cannot sell a home and need to rent when they arrive. Real estate is now more expensive here than in much of the USA, Panama is in an economic boom. Many of these people are forced into doing what is always suggested, rent six months before buying. From the responses made about half would buy if they could.
This re-enforces my observations attending many seminars for expats in Panama City. The people who came and spoke to me in the years I attended, the Obama years, were scared. They felt they needed to leave the US before they lost all their assets. Perception is reality, people believe what they find believable and these people are coming to Panama for the wrong reason, fear.
The obvious observation is that Panama or any other alien culture is not right for everyone. To be successful in a new society you need to be a pioneer, regardless of your age. You need to be open to new ideas, open to starting again in a new system, with a new language and in an economic system that wants your money but not your involvement in decision making.
I want to reiterate that I like it here, but just like in Tucson I have witnessed the churn. My intent is not to discourage people from moving to Boquete, my intent is that you not be blinded by the people selling Boquete as paradise. To many it is a wonderful place to live, to some it is not. You need to come and stay a while and see if the experience is for you before leaping from the frying pan into the fire; pretty obvious?
very good write up, Lee!
much to the point..
Could not agree more, Lee. We came here so a much younger wife could retire and take up her passion, art. Also, we came to live small and travel large.That means rent! We love it here, the rental we have is more than enough for our purposes and the chances to travel here and abroad are enormous. Agree especially with the rent first idea. So many friends have made mistakes by buying too soon. Adds to the tension and unease they have experienced down here. Lastly, be sure to encourage anyone to travel and see the area they are considering. Those deciding and buying from brochures have a higher risk of disppointment.
My husband & I fell in love with life in a Latin culture when we were very young marrieds. We were fond of all the smells, sounds and vibrance of life-Latin,. It was the “Wiil ya still love me when I’m 64″ era and we dreamed of a life at 64 waaaay ahead of us as a perfect dream. We settled in Boquete in 2007 with a home we purchased almost sight unseen ( smiling). We are happy campers here ….with everything. The “ups” are blessings and the “downs” make us stronger as a married couple.
Lee puts it quite clear in this article. Many are not seasoned world travelers. Many may be new at life in retirement as a couple…there are stresses! Together, there’s a double stress. If the motive for the move is not a solid one, and the ability to cope as a couple not healthy and strong, a move south of the border could be a very sad & costly experience. Who needs that late in life? Be careful
Great comments from all – my wife and I are very much looking forward to our move there (down the road) and although we own land already, are in no great hurry to build on it. We like John and Robyn’s approach – “live small and travel large.” Makes sense for us too, at least in the beginning. I have no illusions about Boquete being the perfect place to live but I do know that for us it’s fantastic and after numerous trips there over the past 5 years we feel confident that moving there permanently will be a great idea.
Thanks for this timely post! (And thanks to those who’ve commented, as well.) I’ve enjoyed reading your informative posts, Lee. It helps us get a perspective from afar.
We actually leave this evening for Panama to do exactly what is recommended: come, stay awhile and check things out. One of my third graders has family from the Chiriqui area. Her dad couldn’t say enough about how much he loves it there. We’re considering Panama for retirement after we do a 6 year stint of international teaching in Asia or Africa.
Well said, Lee. I’ve been here over 8 years, own a small coffee/medicinal plant farm, built my little house from scraps. I am still not old enough for Social Security, so have had to figure out to how to generate income. It has been a mind boggling challenge–that I would not change for anything. I love Boquete, I love Panama. It most definitely is NOT for everyone. Fringe dwellers with initiative, energy, creativity and a willingness to assimilate do well. People who are fear based, running away and looking to recreate their suburban US life here, on the cheap, do not.
Terrific series of articles/blog, Lee, I have been mesmerized by your comments for the past hour or more. So much here that I’ve been unable to get ahold of in the popular expat magazines.
I DO HAVE A QUESTION: Now aged 72, long divorced, and overall in good health, I have twice in the distant past bought my own home, found the problems more prevalent than the satisfaction, and have now been an apartment dweller for many years. I now have a fairly large 2-bedroom in a large very nice and quiet complex, and pay $900/mo.
I am on Social Security and have well over a hundred thousand invested in pretty high dividend paying stocks which I would plan to keep, so no real money worries. But I am ready for a life style change away from the big city and Panama sounds very interesting. If I come, I would certainly take your advice and rent for several months before terminating my residence here…..but if I then decide to stay, I would not want to buy property there but find a comparable long term apartment or possibly small house to rent.
In your video I did not hear about apartment complexes. Are there such outside of Panama City? How likely would you guess it would be that I could find a reasonably priced two or three bedroom apartment with a landlord who would not try to gouge me with big rent increases. I don’t really have any objectionable habits, no smoking, drugs or alcohol, very quiet, reasonably neat, and am respectful of and friendly toward any neighbors. You think it would be fairly easly for me to find a long term apartment, or that I would have to be lucky? (Don’t worry, I won’t hold you to it, just very interested in your opinion–as well as that of any other readers who happen to read this — many thanks.)
Warren , I know that at least in David you can get that…go to Chiriqui Chatter http://www.chiriquichatter.net/blog/
and ask Don , he is in an apt there…possibly they have long term in Boquete too, at least there are some apartments ‘downtown’
I just came back from my second trip to Panama recently. Most of the time was spent in the City and ventured out to the Coronado area and Punta Chame which was incredibly beautiful. I am considering coming down on a more permanent basis. I am fortunate I can do my work remotely, but I agree with what you say about real estate. I live in Florida and I have found that comparable real estate to what we have here in Florida is more expensive in Panama. I upset someone from IL when I commented that some of the more affordable places in Panama were below a middle class America standard. So they were cheap, yes, but they were a dump. So in some ways it is cheaper, and in others not.
I really liked the vibe of the city and the adventure of it all. My wife really enjoyed it and liked the challenge of learning Spanish. I will finish by saying we went out to Taboga Island and I would agree it was disappointing. It was one of the most beautiful and hot places I have ever been, but the trash on the beach really was a shame. If they cleaned up the beach and had more to do out there, it would be incredible. If Panama asked me to give them one suggestion on how to make their country better, I would say clean up your trash!
Hi Warren – I know of a 3 bedroom house where you can rent on a yearly basis for as long as you like in Brisas Boquete. Contact Summer Durand: americaninpanama@gmail.com