 Retire in Panama (one happy couples' story)
My husband and I have been searching for the last seven years for a place to retire.
We have sailed and traveled throughout the Caribbean and Mexico looking for a place in the sun to spend the winter of our lives. We looked from Cuba and Tortola all the way down to Curacao and Bonaire. In Mexico we traveled to Guadalajara, Puerto Vallarta, and Cozumel.
However, all of these places had one blustery drawback... a history of hurricanes. In spite of this, seduced by its sleepy charm and against our better judgment, in 1990 we purchased a condo in the little village of Cabo San Lucas, Mexico. But our dreams of relaxing in relative isolation were dashed when Cabo became a major tourist destination (Ai Carramba!).
Still, property values have increased and we do plan of spending some time their each year... however, the ultimate destination of our retirement was yet again unsettled and we werent getting any younger. So once more, we set off in search of the perfect retirement haven.
In February 2001 we went to Panama and fell in love with the country and people. We rented a 3 bedroom chalet on the Pacific about 60 miles outside of Panama City. But having heard so much about the Caribbean side of Panama we decided to return later that year and check out Bocas Del Toro and Isle Solarte. Unfortunately, after 2 weeks we decided that this was not our lifestyle.
A bit discouraged we traveled back to Mexico in the early Spring of 2002 and looked at properties in Cozumel. We enjoyed the island however decided that it was still not our first choice. Although, there were great deals on properties to be had and we found several properties that will take about 5 years to develop. After Cozumel we decided that the Pacific side of Panama was our first choice.
In October 2002 we had appointments set-up with 7 different Realtors to look at their developments, property, and existing homes. We checked out the area from Panama City to Penonome. All of the places we looked at had their pros and cons.
The first piece of property we purchased we found on our own via a Sunday trip back from the markets in El Valle. We saw a "FOR SALE" sign along the side of the road and decided to check out the lots that were clearly marked off. We wrote down the phone number and had our "travel specialist" in Panama, Tammy Lui, call the owner and set-up an appointment. After negotiating with the owner, Tammy contacted a real estate lawyer to do a title search and draw up a contract.
On our last day we wanted to take one last look at the property we had just purchased. On the way up the mountain we had a car accident. Luckily a passerby stopped to help us with the police, since we do not speak any Spanish. Jaime Figueroa handled everything for us and we walked away with a better understanding of the people and culture of Panama. We remain in contact with Jaime and get together every time we are in Panama. He has also been very helpful in many other aspects of our upcoming retirement in Panama.
The one thing we did learn from dealing with realtors is that when an appointment is set-up don't expect them to be on time--there are always exceptions. Anything within 1 hour of the original appointment is considered on time. This was very nerve wrecking for us.
Two of the realtors we did work with were early and very helpful. Mr. Pedro Sarasqueta from Altos del Maria development and Mr. George Smith of Equestrian Club in Coronado. Both were very professional in our appointments to view their developments. Pedro was very helpful in other aspects of our trip to purchase land in Panama and we became good friends with him and his wife, Petra.
When we returned to Panama in February 2003 we contacted Pedro to have a look at Altos again. This time we purchased a lot from him. We are planning to do a bed and breakfast in Altos in the future. Altos has so many great amenities from waterfalls to views to walking trails.
Our next step was to work on our "pensionado visa". Once again, Tammy Lui, put us in contact with a lawyer specializing in getting our visas. Mayra de Ruzzi was very helpful in telling us what paperwork to get done in the US before we visited and walked us through the process in Panama City. The visa took us approximately 1 month to get.
In February 2003 we also met with several architects and contractors to start the process of designing our home. We took all types of floor plans and designs to show them what we were looking for in a house. Everything was left with them and their promise that they would have some basic sketches and designs e-mailed to us in a couple of weeks. After constant calls and e-mails about getting something from them we were very frustrated. Finally, after 6 months of prodding, I gave up and contacted an architect in the United States and told him what we were trying to achieve. In 2 weeks I had basic designs to choose from. I also contacted another architect in Panama. Within 1 week he has sent me plans and general drawings.
In reviewing the type of home we wanted we kept going back to the model homes we saw at the Equestrian Club in Coronado. I contacted I. Roberto Eisenmann from the Equestrian Club to see if they would build a home outside of their developments in Coronado. After numerous emails on the floor plans we decided to meet with him in October 2003. After revisiting the model homes in Coronado we have finalized our retirement home and hopefully they will be breaking ground in the next month.
Another MAJOR lesson for us is that we should have started preparing to move 2 years ago. From giving away things to the children and cleaning out the house that we have lived in for close to 30 years we had our dance cards filled but the midnight hour was fast approaching.
We decided against David and Boquette because of our lifestyle. They are both beautiful areas but have major drawbacks as far as we are concerned. The area is just too remote for our taste.
We enjoy the nightlife Panama City has to offer and if we want to get on a plane to the United States we drive into Panama City and can get to any major airport in America. From the David/Boquete region you either have to drive 5-6 hours to Panama City, or catch a puddle jumper from David to Costa Rica International Airport or Panama City National Airport. From the Panama City National airport you have to then get across town to catch a plane. This just seemed like too much of a hassle.
From our properties we are less than 60 miles to Panama City. There are many great things to do there from restaurants, the fish market, and shopping. Then there is the city itself and its culture. Plus you have the Canal and Lake Gatun, which is a 350 sq. mile fresh water lake that makes up part of the Canal. Plus we are within 10 minutes of the Pacific beaches and 50 minutes of the Atlantic coast.
Panama has many fine restaurants from the city and up-and-down the Pan American Highway. When in Panama City we particularly enjoy the Causeway. This is a stretch of highway that connects 3 man-made islands to the Pacific entrance of the Canal. There are restaurants/bars all along this 3 mile drive. At the very last island there is a new marina with numerous restaurants, bars, and shops. Along the Causeway there are great view of The Americas bridge and skyline of Panama City. This is where they held the Miss Universe Pageant in June 2003.
Panama has so much to offer it is unbelievable. We had an impromptu meeting with various bankers, lawyers, businessmen, and realtors on our recent trip. In talking with all of these people we decided that we are very selfish and don't want Panama to become a thriving tourist area. The scenery and architecture are wonders!! From the oldest part of Panama, Casco Viejo to the canopy tours at El Valle. The beaches are pristine and sparsely populated.
We can't forget to mention the economy, which is based on the U.S. Dollar. The cost of living is very economical. The Internet is available and you can find cafes all over the city and outlying areas. The utilities all work, with easy hook-up for water and electricity. The gas is propane. Phones are everywhere, including cellular.
The people have been wonderful to us non-speaking Spanish tourists.
Written by: Mary Johnson Strociek March 2004 | 
It seems like we are on vacation every day. Matt has his list of things we still want to do around the house and property. 
Hello everyone and welcome to our website!! 
Hi! We have been here for 3 months. We are finally settling into the house.