Should I buy or rent a home in Nueva Gorgona?

If you have not spent a lot of time in Nueva Gorgona, you should rent before even thinking about buying. We asked expats there about the buy vs. rent decision...

"Whether you should buy or rent a home in Nueva Gorgona largely depends on your current financial situation and the long-term goals for your residence. Ultimately, it is important to weigh the advantages and disadvantages of each option. Renting a home typically offers greater flexibility if you plan to stay in the area for a short period of time, and the costs of relocation are often lower when compared to purchasing a home. Additionally, if you are unsure of the local real estate market or have difficulty obtaining a mortgage, renting can be a beneficial option. On the other hand, an owner may benefit from increased privacy and enjoy potential tax breaks or appreciation of the home value over time. Ultimately, where and how you want to live should be your primary consideration when deciding whether to rent or buy a home in Nueva Gorgona," mentioned another expat when asked about moving to Nueva Gorgona, Panama.

"We decided to rent. We sold everything we had in the US and want the freedom to move if we are ever inclined to do that. We rent furnished and love not worrying about maintenance or replacement of anything. Buying abroad can be tricky and I would encourage anyone buying to do due diligence. As for us, we are happy renting," commented one expat who made the move to Nueva Gorgona, Panama.

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