Two of the most popular places which provide different lifestyles for Canadians and Americans wishing to retire in Panama are Boquete and Coronado. Boquete, located in Chiriqui province, got its name because of its cooler climate and is an area for nature lovers to enjoy the milder weather. An hour drive from Panama City, Coronado is a Pacific beach town often referred to as the south’s “OPM” town, where folks like to reside by the ocean with sunshine and convenient access to urban sprawl amenities.
Personal preferences, housing, transportation, health costs are all factors in the cost of living in either town. With knowledge of the differences, you should be able to determine where you’ll retire.
Climate and Everyday Comfort
The pleasant climate of Boquete is more like spring. With the mild weather walking, gardening, and outdoor activities can be enjoyed throughout the year. Some homes do not require any type of air conditioning or dehumidification/humidity control; however, fans can help.
The climate of Coronado is hot and tropical – the weather is warm and there is lots of sunshine. The cost of operating an air conditioning system may be one of the major expenses in any home, especially in warmer months. The amount of cooling equipment usage can result in higher electricity costs.
Boquete’s choice might be a better option for retirees who prefer cooler weather. Coronado might appeal more to those who like warm days and enjoying the beach.
Housing: Renting and Buying
The different places have a range of property sizes from smaller homes to larger homes in established communities.
Boquete offers both village homes, as well as homes with detached gardens, houses that overlook the mountains, and houses on larger blocks of land. Condominiums and gated communities are also offered. Outside the town centre you may have more space, but can get the need to use a car for daily activities.
While you’re thinking of moving to the mountains, real estate in Boquete will give you an overview on the types of homes available, from small village homes to larger homes surrounded by mountains and gardens.
If you are considering a move to the mountains, exploring homes for sale in Boquete can help you understand the variety of properties available, from village homes to larger houses surrounded by gardens and mountain scenery.
In Coronado condominiums, detached homes, gated communities as well as properties that are ideal for living by the coast are available. Some developments provide swimming pools, security services, and access to recreational facilities. When looking at properties, keep in mind condos, homeowners association fees, and maintenance costs.
You can also explore beach property in Coronado to get a better sense of the housing options available near the Pacific coast.
Rental rates and purchase prices vary according to location, property condition, amenities, and proximity to the beach or town centre. Neither destination is automatically cheaper for every retiree.
Everyday Living Costs
Monthly budget items such as groceries, utilities, dining and transportation are key factors in expenses for both towns.
Local markets and restaurants may be a cheaper choice and imported foods or familiar North American brands are likely to be more expensive. Eating home-cooked meals, picking of seasonal harvests and making an effort to patronize local restaurants can help curtail food costs.
Coronado electricity costs may be even higher for families that run the air conditioner often. In Boquete, the need for cooling can be balanced as a contributor to other household expenses, but humidity control and the maintenance of the home must also be taken into account.
Depending on the location and frequency of your trips, transportation expenses vary. When retirement communities are close to stores, clinics, and eateries, their residents might need fewer motor trips. Car ownership might be more convenient for the people living in outlying mountain neighbourhoods or gated coastal developments.
Draw up a realistic monthly budget plan taking into account housing, utility, food, transport, insurance, health care and entertainment before deciding.
Healthcare and Travel Access
When planning for retirement, the need for medical attention should be important, particularly for retirees who are frequent visitors to medical facilities or who need to see experts such as chiropractors.
Boquete is about 40 – 50 minutes by car from David, the regional centre, with its hospitals, medical facilities and Enrique Malek International Airport. Travel times may vary due to traffic, whether and where you are. Some routine services may be available locally, but some specialist treatment may involve travelling to David or further to receive treatment.
Medical facilities can be found in the nearby town of Coronado and roads can lead to the bigger hospitals and specialist medical facilities in Panama City. Tocumen International Airport can also be reached by the road network of the capital, but traffic can have a considerable impact on travel times.
Before moving, investigate local doctors, hospital facilities, insurance coverage, and emergency transport options. The official Tourism Panama website is a useful starting point for learning more about the country and its destinations.
Lifestyle and Expat Communities
Coffee farms, hiking, birdwatching, gardens and mountain scenery make Boquete particularly appealing to retirees. There is an established English-speaking community of expats in which you can make friends and get involved in social events. Meanwhile, members enjoy the opportunity to learn about the local culture and life in Panama.
Coronado is more of a resort community on the coast. Residents can enjoy the beaches, golf, restaurants, shopping, and weekend adventures to Panama City. It is a community with people around the world who live there full time or part time and whose social life may focus on recreation and a coastal lifestyle.
English-speaking communities have developed in both locations; the range of English services is limited. Knowing a few Spanish words will help to make everyday activities and interacting with locals easier.
Buying Property: Practical Tips
Go to both places before buying a house; spend time in various neighborhoods. If you rent for a few months you can learn what your weather conditions are like, how much travel you’ll need, how loud things can be and where to find what you need on a day to day basis.
Have an independent attorney who can represent you in Panama. Legally check status title, documents of ownership, and any encumbrances (obligations) of a property before making any purchases.
Take care to distinguish between titled and rights of possession land. The types of ownership may be different and legal rights and responsibilities might differ. Before paying a deposit obtain an independent confirmation of the property.
Drainage, community fees, road access, water, maintenance, and internet are all important queries to make as well.
Which Town Is Best for Your Retirement?
For retirees, the town of Boquete may be the one that’s well suited for the colder weather, mountain views, gardening, or pursuing outdoor activities. These may be just the right attributes for you if you prefer the warm weather, beaches, golf and shopping, and Panama City is nearby, in Coronado. It’s just a matter of cost, insurance coverage and living style. Go out to both towns and research costs of living, Cost to buy vs hold down. With the research done on each, you could choose one more.