I am watching HGTV International, and the story is about Lisa, a nurse from Fresno, CA. She lives too far from the water, so she started looking internationally, because she said she can’t do it in the US.
So, what is her budget? $400,000.
She finds the place in Panama on the Caribbean side. Needs a boat to get to those small islands, looks at houses, which don’t look enticing to me. Lisa meets the agent, and tells him she needs minimum 2 bedroom but 4 would be better (!).
With instructions, the agent takes them to the first house… a one-bedroom house atop the place with tons of steps leading to it. The funny part is that Lisa and her kids do not get surprised that they had to go up all those stairs to see … what they did not ask to see. But no problem to both the agent and to Lisa. Weird…
Second home was, actually, the closest to a home, but they eliminated it. And ended up with a house on stilts in the water… for $395,000…
All that time I was trying to understand why they did not look closer to home. If there was nothing in California in this price range, they could find it in Florida.
In Daytona for this money they could buy a really luxury 3-bdr oceanfront condo.
Wanted some place warmer in winter? She could by a place in Florida Keys. What an excellent place, and it is in the US. I do not trust any investment outside of US. In todays political climate, Americans are easy target outside of the US borders. I think people don’t think about it, going to Costa Rica, Panama and other wonderful places.
Whole developments have been built… But when the Americans will be shot dead in the gang fights in Mexico, or the first American head is cut off (and for me it is not a question of if, it is a matter of when), then people will drop their properties like flies and run away.
The government does not have the obligation to protect Americans abroad, nor can it be capable of that, so when you will be choosing investment or life, we all know what it would be.
So, if I get richer and start thinking about second home in warmer place, Florida Keys, or US Virgin Islands will cut it for me.
The best part is that I still can do it with even less than $400K…