This article caught my eye because it quotes my blog from several years ago about the advantages of low property taxes and insurance in Panama. These advantages still hold true today.
excerpts from Local RE:
In Panama I have had people see home prices as an 'incredable bargain' or 'too pricey' based on where they are from. Some have even said, "I can buy a place in Florida for that!" Well, yes maybe you can but have you considered the true cost of ownership and how that affects your lifestyle?
In his Blog, developer Sam Taliaferro writes, "This weekend I had a visitor from Florida who shared with me that his insurance on his home in Boca Raton is over $7000 a year. On top of that the taxes have been increasing each year to where it is over $8000 for an under 2000 square foot home. When you compare Panama (And Valle Escondido specifically) where the insurance on a 2500 square foot home is about $450 and the property taxes are zero for the next 20 years, you can see why Panama has become so popular. You can actually live very comfortably here in a master planned community with great amenities just on the $1200 a month you save on these two expenses." (Sam Taliferro is an American expat many consider the pioneer who put Panama on the map with his first class development, Valle Escondido in the mountain town of Boquete.)
What would an extra $1,200 a month mean to your standard of lving?
Cheap Quality Health Care, Low, Low Insurance Rates, NO Property Taxes on new construction PLUS Fresh Produce, Groceries; Entertainment and Dining Out at about Half the cost of comparable American fare and you can see why Panama has become the number one retirement spot for the baby boomers!
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