Would you like to move to a much warmer location than you are right now? A top choice for many people is moving to Panama, a beautiful place that you can live that will give you access to not only the Pacific Ocean, but with a short drive, the Gulf of Mexico. It is a wonderful locale, and if you do get to live in Panama City, there are many things to do. The nightlife is great, with astounding architecture and fun places to visit and explore throughout this beautiful country.
What Does It Cost To Live In Panama?
One of the best things about living in this country, especially if you are retired, is how little money you actually need to have a great life. On average, a cup of coffee will cost no more than $.20, and a bag of chips less than a dollar, not to mention all of the discounted food and beverages that you can buy at the stores. The lifestyle that you live will depend on how much money you are bringing. If you have retired from a high-paying job, you will live like royalty. There are many places to visit, restaurants to eat at, and if you are looking for a place to stay, you will also find the rent in Panama is very reasonable. On average, it will cost you about $500 a month, and this will give you a very lavish apartment. Prices can go up to $800 or more, however it just depends on what type of lifestyle you want to live while you are there.
Renting More Expensive Apartments
If you want something that is a lot better, you may pay as much as $2500 a month, especially for apartments that are near the water, adjacent to Panama Bay. There are trendy restaurants in all directions, and life here near the bay can be much more expensive. For example, eating at a local restaurant can cost you a significant amount of money, as much as $50 for a main course, I couple appetizers, in a few glasses of wine. There is actually a Trump hotel in this city, which may actually be the most expensive place to stay if you are visiting, but the cost of rent is definitely reasonable in comparison to what you can get back in the states.
Other Costs To Consider
Once you have moved into the area, you should look at having at least $5000 a month to live very comfortably. The cost of the hospital visits, the local clinics, is about $50, giving you access to John Hopkins affiliated hospitals in the area. Even though this is not in the United States, you can get access to the best medical treatment and procedures that you would if you are living back home. This is also comparable to many places in Europe, and even in Asia, allowing you to easily transition to a city that offers affordable real estate and rent, where the cost of living can be significantly lower.
Living in Panama may be one of the best choices that you ever make. You might want to consider staying a few weeks to see if you like it. The humidity is going to be high, but you will always be warm, so keep that in mind if you decide to stay for the long term. Whether you choose to live in an average apartment for less than $1000 a month, or a luxury rental for a couple thousand, you will always have access to the best that money can buy in terms of food, entertainment, and medical facilities that can help you transition to this wonderful equatorial destination that so many love.
This post is also available in: Spanish