Panama Weather, Safety and your Pocket Book
It’s interesting to note how where we choose to live defines our thoughts and concerns about safety. If you live in a big city crime might be on the top of your list but, if you live in a sleepy little southern community the weather probably has a bigger piece of your awareness. When it comes to Living in Panama the Weather in Panama is a big draw for many.
Recently Paul Owens of the South Florida Sun-Sentinel reported,
“For the first time in 30 years, United Van Lines Inc. says it moved more people out of Florida than in. Fed-up Floridians are moving to other parts of the country, in part to escape rising property taxes and insurance rates.
Here are some additional key points from his article:
Many residents now say they can’t afford to move elsewhere in Florida because of the huge hit they’d take on taxes. What’s more, busy hurricane seasons in 2004 and 2005 led to massive rate hikes from the state’s largest home insurance companies.”
Regrettably, it seems no one told Paul that Panama has no taxes on new construction*, low home insurance rates (about 1/3 of Florida’s) and when it comes to Panama Weather we boast about the fact there are NO HURRICANES!
(* Tax exemptions apply to new construction and last for up to 20 years. The exemption is transferable. Resale homes built in the last few years may still have transferable exemptions left for many years!)
I’ll address the cost of living issues in another letter but for now let’s talk about Living in Panama in terms of Panama Weather and specifically hurricanes and violent weather. Specifically, how they can affect your vacation, your retirement, your investment and your peace of mind!
Hurricanes are essentially tropical phenomena, that are driven by the evaporation of a large pool of very warm water somewhere not too far from a shoreline. Local geographic conditions may cause them to strike (i.e. cross the shore) in non-tropical locations, e.g. Florida, Louisiana, Atlantic coast, as well as Japan or Taiwan (where they are called typhoons). Hurricanes do strike the Pacific coast, but less commonly than the Caribbean, typically between about Acapulco and Panama.
Source: MadSci Network: Earth Sciences
Weather in Panama is blessed by nature, unlike the rest of her Central American neighbors, with no hurricanes – amazingly it’s in a special climate area that is totally hurricane-proof. It also has no major earthquakes. That means your Panama vacation will never be re-scheduled due to natural events. And, your property investment will always be safe from hurricanes and earthquakes. This translates into lower insurance rates – lower risk and lower tax rates – the government doesn’t need to pool revenues for that inevitable clean up like Florida and Caribbean countries.
Check out this map which illustrates the track and land fall for hurricanes in the western hemisphere for over 100 years –
Source: NOAA – The National Oceanic and Atmospheric Administration