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Panama Housing 3 Mistakes you can not afford to make

Panama Housing 3 Mistakes you can not afford to make

Panama Housing 3 Mistakes you can not afford to make

Panama Housing

One day you find yourself in Panama for vacation and you were not even thinking of buying a property here and much less moving to this country, because you came for vacation only, but wait, you love it.

Guess what? you are not the only one dealing with this “issue”, many visitor come to visit this beautiful part of the world and after spending some time here, they can’t keep it out of their head.

Panama housing has many options, different choices and one can make many mistakes, here are 3 mistakes you as a buyer shoud not make.

1- You are a real estate expert but…

In your home country you are a real estate professional and and have even been successful buying and selling properties and you feel confident about all your knowledge, because of this you can buy a property without professional help.

That is what we are going to call today mistake number one. Panama housing is a different animal, you are a foreigner and the best think to do is have an attorney do research on any property you plan on buying, even if it is one of the foreclosures you found on panamaforeclosure.com

2. What a great deal this is, lets buy it…

I have seen this happen many times, people find what they think is a great deal because of the price and the property is nice, it could even be a beatiful property and the next move is buy it, right? First of all remeber not to make the mistake mentioned before… but you already knew that so lets move on, well one more thing, even if the attorney says it is safe to buy, keep this in mind: he/she will not own the property, and will not live in it, you will…

The point here is you have to get familiar with the area first, you do nothing by getting a good deal if later on you regret the purchase because you hate the area, it is too crawded, you like to eat out regularly and there are not restaurants, etc.

After being in a place for a few months, say at least 3, you actually tell enough about it to make an important decision such as buying a property. So the advide here is rent for 3 t0 6 months before making the move.

What if the property is an investment and I am not planning on living there?

Well, you might not be planning to live there but your buyer will, get familiar with the place and if you think yo dont like it, there is a very good change no one else will either.

3- Shop around

Panama housing has thousands of choices, do not buy the fisrt place you stumble up on, shop around and check what else is available specially if you are new to Panama, the prices here are probably lower than in your country home so when you see one with a good price for your eyes that don’t necessarily means that it is a good price.

In conclusion, you can make Panama your next home but as a foreginer it is important to research and make informed decisions specially when it comes to spend or invest your hard earned money. We have more articles that will be of interest to you, check them out here.

We also advice you check the foreclosures section of the site because there are very interesting options availale but before that read what it is we do in Panamaforeclosure.com go to About Us.

Find properties for sale by owner with great prices and financing options 

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