I spent many hours researching and this is what I discovered while looking for a new home site in Bocas Del Toro. There were many hidden costs and many features I should have looked for but didn’t know better. Make sure you don’t get swept up in the excitement of the real estate boom in Bocas or the silver tongued salesman who has a vested interest in the home site you choose but maybe not your best interest at heart.You have already chosen the perfect home site locale. Here is what I discovered and my thoughts on my perfect home site tips now that I do know better.
Water. The world is 80% water and we are between 70 and 80%. Water is very important to our existence but when buying a home site I forgot how important it was. Panama is told by all to have safe drinking water….well…almost all of Panama and almost all of the time. It turns out Bocas is well known for having not so safe drinking water quite often, just look at any guide book on Panama and in it’s chapter on Bocas it is one of the first things they tell you. Of course no realtor told me this nor did they tell me of water rationing over the last couple of years because of sporadic rain. Living on the Island or barrier Islands can give few good options for water, you are living off , “The Grid”. Most use their roofs to collect and reuse rain water in their homes. Others that have access to running water often find it contaminated. I would prefer to live on a waterfront lot but be where I could drill a well for drinking water. A private well is between $10,000 and $15,000 so I would suggest a small community that would share the costs and the benefits of such a well.
Electricity.At home we take this utility for granted. We are told when researching Panama of how cheap electricity is, 6 cents a kilowatt. That of course assumes one thing, that ETESA, (Panama’s National Power Company) actually has power lines for you to connect to. Well if you don’t then you hear about the romantic term again of living off the grid, power grid that is. Now your choices are much more limited and much more expensive. If you are on the Island you may have access to their private utility, but the costs are now 12 -13 cents a kilowatt hour and much less dependable. If you want to become your own Private utility using solar power, diesel generators or a combination then the cost and inconveniences can be considerable. I would find a home site that is waterfront but still has a real utility, the ETESA.
ROP vs. Titled land.Well I won’t say much that hasn’t been said before on this one. Many lawsuits have ensued from people thinking they would own outright their land in a title only to find it ROP land. I remember people in the USA that were in mobile home parks didn’t have titles to their land but held similarly to ROP. I thought it was a bad deal then and I think it is a bad deal now. Find out how many Banks won’t lend to ROP land. My home site would be on titled land.
True costs to build your Dream home.I did not know that a regular pressure treated 2x 4 on the mainland costs only $3.20 but by the time you get it to your Island it now averages $8.21 for the same 2 x 4. A bag of cement that costs $5.00 on the mainland costs $9.60 on the Islands. Everything has to be shipped and sometimes disassembled shipped then reassembled. You get a much smaller home for much more money if you decide to build on an Island. Now try to move your couch, dresser, big screen onto the Island. My good value quickly became a money pit. My perfect home site would be a Waterfront lot on the Mainland.
Location,Location,Location!Location is much more than just a pretty view. Find out if your lot is either water locked or land locked. Many people buy island property but the water is to shallow for anything more than a small skiff. Try crossing a choppy bay for groceries or worse for a medical emergency in just a small shallow skiff. Some buy wonderful Waterfront mainland acreage only to find no road access and pitiful water access. My lot would be in a Waterfront community with deepwater access and good road access.
Missed adventuresMany people fly to Bocas and never leave the Island. Yes many great adventures can be found in the seas of Bocas archipelago, but that is only half or less of what Bocas has to offer. In the states there use to be books about cities called “tank away” books. These books detailed all the adventures that could be found by car on a tank of gas. I have never seen a city that has more tank away adventures than can be found in Bocas. However try and safely maintain a working auto while living on an island nothing to be said about the added inconvenience. My Waterfront home site would be in a community on the mainland with good road access.
Bocas is one of the last truly magical places left to live in.Follow these things to look for in a new home site and maybe just maybe you’ll find your Dream Home the first time in Bocas
About the Author
Article authored by James H. Furthin a seasoned Expat who has fallen in love with Bocas.Submitted 3-20-2007
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