Episode 48: The Real Cost of Living in Panama: Busting the ‘Cheap’ Myth
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- เผยแพร่เมื่อ 25 พ.ย. 2024
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In this episode of "Behind Closed Doors with The Brooks," we dive into The Real Cost of Living in Panama: Busting the ‘Cheap’ Myth to uncover the truth behind Panama’s affordability.
Is Panama truly a cheap place to live, or is it more costly than most people expect?
We break down the expenses of everyday life-from housing and groceries to healthcare and transportation-giving you a realistic picture of what it costs to live in this tropical paradise. Whether you're considering relocating or just curious about life abroad, this episode will help you decide if Panama fits your budget and lifestyle expectations.
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WHY because WE ALL NEED SOME HELP !!!
Glenn & Sheri
Important video & lots of great insight from Omar. I'm from California & have been living in Panama for 4 years. Like others, I thought I was going to slice the cost of living by around 70%, not so. Many things are less, but the idea that you are going to have a great place for $500/month is a fantasy.
I live in a gated community in Boquete & the home next to me just rented for $2500/month. TBF, if it was in California, it would rent for 6k a month, but even simple condos here are in the $1500-1800 range. I pay around $1500 month but that includes a gardener, utilities, internet, garbage service 2x/week, security HOA paid, fitness center with sauna, pool, and hot tub, tennis courts. Again in California, my place would likely be in the $4500 range monthly, so its a strong value.
There is a reason that the Panamanian government in their digital nomad visa has an income per person of $3600/month + $250 per each dependent, there is a certain level it takes to live here.
@@mtngrl5859 you’re spot on my friend! Thanks for sharing your perspective! It’s all relative to your specific situation… we moved here from Va Beach Va. where our quality of life was nice but not nearly as nice as it is here in Panamá City! We cut our living expenses by 2/3 just moving here (while significantly increasing our quality of life here) again it’s all a matter of perspective. Best thing we did was come #TasteAndSee before making the move! 🙋🏾♂️🇵🇦🤎🤎#WeAllNeedSomeHelp 🙏🏾
I love that you all went into the nitty gritty details because this is the type of analysis I've been waiting for!
@@genevieveorozco8798 glad that you appreciated that. We’re just trying to present some of the more realistic views of what you may be in store for if you decide to move here. We love it here and don’t plan on leaving, but we also understand that it’s not for everyone. #WeAllNeedSomeHelp
We are here in Panama right now. Looking for a 3 bedroom 2 bathroom apartment.And we’ve been told by 3 different realtors that our starting price should be around 1,200.00 up to 1,500.00 or more just to live in a good neighborhood in the city near the hospitals .Think we really need to evaluate this situation because we have a 4 bedroom all brick home,2 and a half bathroom 3 car garage. Huge backyard walkable community. And what I’ve seen so far it doesn’t compare.Expats have really driven the prices up even the cost of food is not cheap.And not to many expats have good things to say about the food in some of the Restaurants.
@@KarenW645 yes that’s about right! Gonna be tough to find an apples to apples comparison for what you’re looking for! The houses are a built different for sure. As far as food is concerned it does matter where you go to eat. We’ve definitely been to some restaurants where the food wasn’t great! It’s like anywhere else. Once you find what you like you make a note of that and go back 😜 Bienvenidos 🇵🇦
@@glennandsheribrooksjr by
Why are you looking to move ito another country f you have everything you need back home? Not bc others are moving you have to.
A VERY necessary video. What has surprised me as well as far as pricing goes is the cost of food. I was here maybe 6 years ago as a vacationer and was impressed with food prices in restaurants. Really gave me the impressions life in general was a lot cheaper. Based also on my experiences in Colombia. While we are here now for a while and looking firsthand into the things we need answers to, I'm really surprised at the cost of food in the grocery stores. Even when opting for local brands we are finding the prices to not differ that much from the US. So we are still searching and learning, and this is not a deal breaker, but it is a surprise. The other thing I would say is that just like other countries including America, you have the whole range of people here. In specific to speaking Spanish, I am so so. I'm probably 40% conversational. That said Spanish is still very difficult to understand for some (me). I notice a lot of people are frustrated when you don't understand them, and need them to repeat or are just lost, even if you can respond in Spanish. I guess I say this only to say don't be discouraged by this. I'm determined to get better with my Spanish, I do indeed encounter people that are willing to work with me. Good video.
@@elvdell5582 thanks so much for your SPOT ON input! #WeAllNeedSomeHelp
@@elvdell5582 would love to catch up with you.
Absolutely love you guys!!! Thank you for all your insights and candidness! Planning a visit end of January, can't wait!!!
@@juleskoopman118 Awesome sauce 👏🏾 thanks for the kind words! GREAT time of year to visit 🇵🇦 Bienvenidos 🙋🏾♂️
Hello from Maryland. I've been researching relocating to Panama for the past 6 months and I really appreciate the transparency in this video! Planning to visit in January to get a first look. I appreciate you sharing your experience and resources.
If you want to connect with Omar… his information is in the show description!
Thank you for the transparency. I will contact Omar for when I scout in December. This was very timely. Thank you all giving us the “real”. Much appreciated!
@@seizeself-loveself-care9869 #WeAllNeedSomeHelp 🙏🏾
The bottom line is you get what you pay for, however, in the States it would usually be multiplied several times (of course that also depends on where you are looking). People go in with blinders and expectations rather than actually checking out the place before they move. Yes, you can get cheap and sometimes you can even get lucky, however, it may not check all of your boxes and Americans have their 'wants' that they want satisfied. Ask a lot of questions and talk to people that live where you are looking.
@@mpdnd1335 👈🏾 ALL OF ABOVE ⬆️ SLOW DOWN! ASK QUESTIONS of those that would know! DO YOUR OWN THOROUGH RESEARCH! #WeAllNeedSomeHelp
Thank you, thank you, thank you, both and Omar for this video. It was so helpful. I'm coming in Jan. I'll reach out to Omar, and hope one day to meet you both!
@@norvellatastytopia1687 Awesome 👏🏾 #WeAllNeedSomeHelp
Omar’s information is in the show’s description! #WeAllNeedSomeHelp
How hard is it to rent property there is credit a factor or issue what do I need as a Expate?
Bring cash.
Hello great information, will be reaching out to you guys soon
Great information. We have been two Panama twice. Carol is our attorney for our Pensionado Visa. We will connect with Omar for a day tour on our next visit in Dec. We will stay in El Cangrejo on our next visit (to get our Permanent PenVisa). Keep up the good work!
Hope you enjoyed todays show
Thanks for tuning in, please share todays episode 😊
I'm from western Europe, now living in Panama. Panama is in fact very expensive. My monthly expenses here are nearly double what they were in the Netherlands. I moved here because there are many things to love, but cost isn't one of them.
Yes you can get a $200 room and eat for $1 a day, but it'll be in a tin can with a plate of rice. There are locals and immigrants who live like that, but rarely by choice.
New arrivals (anywhere - not just in Panama) tend to be open to try anything and everything. So you'll see them eat a $3 meal at the side of the road. 'How cheap is that!'. But for most it's a short-lived adventure that ends when normal life - with normal prices - resumes.
Which is not to say there aren't cheap enjoyable things. But it gets really specific and it will work out differently for everyone. For example: Gas: half of what I paid previously. Chocolate: 5 times more expensive than what I paid previously. Etc. YMMV.
@@d-tech5338 extremely accurate my friend! Thanks for sharing #WeAllNeedSomeHelp
Good morning! Trying to make an appointment with Omar; his calendar has no openings. Is that correct? If not, can he send me contact info? THANK YOU FOR YOUR INFORMATION.
@@garyspencer720 I know he’s busy, but I didn’t think he was that busy🤪. I’ll let him know. Try and take a look again tomorrow. #WeNeedSomeHelp
@glennandsheribrooksjr lol. Glad the brother has work!
Pabama city is very expensive, there is other areas cheaper, Chorrera, David in Chiriqui, if you have the money to expend..Panama city is your placd
Lo siento, solo hablo un poco de español, pero estoy aprendiendo.
😂 me too 😢
Yes
Thanks for tuning in today ❤
We invite you JOIN our channel to get early access to content plus more …. 😊
I’m glad to see you out there doing your thing-outstanding work!
But let’s do a little reality check, respectfully. You guys don’t speak Spanish, don’t own a car, and haven’t been there long enough to have a well-rounded view of Panama’s expenses.
Take, for example, your driving around San Francisco, Marbella, and Avenida Balboa-some of the most expensive areas on the isthmus! Then talking about “busting the myth” of living cheap in Panama… 😂😂😂
Just for perspective, I have a cousin living in Arraijan (about 30 minutes from downtown) who bought a typical home in good condition for around $80 k( with ductless a/c units ) ..If you head out another 20 minutes to Costa Verde, you’ll find beautiful gated homes priced between $275K and $600K( better prices than the DMV!). Housing, healthcare, labor, and utilities are all significantly cheaper in Panama. Spend a little more time outside the city, and you’ll get a fuller picture of the cost of living ❤️
Keep up the good work!
@@1879gym thanks for chiming in #WeAllNeedSomeHelp
Come Taste and See Panama 🇵🇦
Do they increase rent price yearly like they do in US
@@joichristian2514 normally yes, but how much depends on the landlord!
If Coronado has black sand, which place in Panama has white sands and clear water, aka like Miami?
@@pathkris2984 on the Atlantic Coast ( Bocas Del Toro and Colon’) the San Blas and the Pearl Islands has the white sand beaches that you’re looking for. Bienvenidos 🇵🇦
Buenas tardes mi familia 😊😊😊
Buenas 🙋🏾♂️
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Have you ever visited Panama 🇵🇦??? Share your experiences
Yes I want to know the truth about Panama's cost of living. Thanks
Thank you for tuning in today 😊
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