“I Bought a Fixer-Upper in Panama for $122K and Transformed It”

El Valle de Anton area, Panama
El Valle de Antón, nestled in the caldera, offers cool air and rich greenery.|©iStock/Edwin Sanchez

After a divorce and the end of financial support, I was looking for a place where I could live simply, affordably, and safely. I wanted peace and beauty in my daily life. I bought an RV and tried out RV life for eight months in the U.S. and did some volunteering abroad in the Dominican Republic, Romania, and Thailand. But nothing quite felt like the right fit.

I wanted a location that offered a slower pace, kindness, nature, and a lower cost of living. I was also looking for a place that felt inspiring, where I could work on creative projects and continue running my coaching and publishing business online. I didn’t want to live in fear of running out of money or having to compromise my values for the sake of survival.

Somewhere along that journey, Panama caught my attention.

Finding My Home

I had found a listing online that caught my eye in Altos del Maria, a gated community in the mountains. Although I never saw that particular house, I came to visit, and I knew this country was a place where I could live. The landscape reminded me of California, the weather was better than I expected, and I felt calm here.

I started in Coronado, drawn by its larger expat community and available amenities. Within 10 days, I almost made a classic mistake; I nearly bought a condo. It was oceanfront and under $200K for a fully furnished, brand-new condo. But my house in CA didn’t sell, and I lost my deposit money.

I explored other areas and eventually found El Valle de Antón. The lush greenery, mountains, and cooler climate were just what I needed. There's a great mix of locals, weekenders from Panama City, and a small but active expat community. I spent time walking the neighborhoods, talking to people, and learning how the community operated. I could sense the pride people had in their homes and gardens. There was a peaceful energy here that resonated deeply with me.

During my house search, I rented a one-bedroom apartment in El Valle for $750/month. It gave me time to explore different areas and decide what I really wanted. One day, I came across a property I’d previously seen online and dismissed—I remember thinking, "Who would buy such an ugly house?" But when I drove by the lot and saw the view in person, I pulled in and realized it was the same listing. The house had no stairs, a termite-ridden plywood second floor, and a tangle of extension cords in place of proper wiring. The previous owner had even installed a ladder and mechanical lift in lieu of a staircase.

Despite all that, the bones were good: steel beams, a raised concrete foundation, and a quality insulated roof. I saw potential. I had developed a good relationship with the man I was renting a casita from; he had renovation experience and became someone I trusted to help manage the project.

I bought the 1,000-square-meter property for $122,000 and spent about $150,000 over eight months transforming it. I reshaped the roofline, rebuilt the interior, and added a separate guest casita, which I now rent out on Airbnb. Most days, I'm 95% happy with the result. There are always little things to tweak, but overall, I love what I've created.

The guest casita brings in income and also allows me to meet travelers from all over the world. I love sharing the beauty of El Valle with others and giving them a peaceful place to stay. It’s also been fulfilling to create something from the ground up and see it come to life.

Daily Life and Community

Local artisan crafts at the bustling weekend market in El Valle.
Local artisan crafts at the bustling weekend market in El Valle.|©Erica Mills

I love my mornings here. I have my tea and sit in the garden watching the agoutis and birds. I’m often in awe of how beautiful it is. I have a view of the mountains and lush trees, and the air is fresh and cool. The stillness in the morning is something I deeply appreciate. It helps me start the day grounded and grateful.

El Valle is walkable and friendly. There are fondas, restaurants, coffee shops, and even fine dining nearby. I can ride my bike to the store. There are events all the time—BBQ contests, wine festivals, classic car shows, and mountain bike races. The town comes alive on weekends, and I enjoy the mix of quiet weekdays and festive weekends. I feel like I get the best of both worlds.

I’m connected with the expat community, though I am a bit of a homebody. I speak Spanish well enough to get by, and I love the warmth of the people here. I also appreciate that the expat community is a good mix of ages, backgrounds, and interests. There are always opportunities to join social events, hiking groups, art classes, and volunteer initiatives.

El Valle has its own rhythm. The town market is open every day, and it’s easy to get fresh fruits, vegetables, and local crafts. I prefer to visit the mercado during the week when it isn’t so crowded with the weekend tourists. People take time to greet one another and catch up.

Cost of Living and Work

Colorful buildings and quiet streets in the heart of El Valle de Antón.
Colorful buildings and quiet streets in the heart of El Valle de Antón.|©Erica Mills.

Back in California, my mortgage was over $3,000/month. Here, my electricity bill averages $75/month, propane gas tanks are about $5 each and last for months, and water and trash together are under $10. I have two internet providers that cost about $100 total, and my cell phone plan is $42/month.

I work remotely, running my self-publishing business and coaching clients. I also started a YouTube channel to document my journey. The flexibility of online work allows me to live anywhere, and Panama gives me a beautiful, affordable setting to do work I love.

I pay $25/week for a gardener and use a freight forwarder to get items from the U.S. It’s $3/lb, so I can still get my favorite PG Tips tea and things I can’t find locally. I’ve learned how to balance local living with the occasional shipment of creature comforts. For the most part, I enjoy eating local food and shopping at small stores. There’s a simplicity in buying only what you need.

Western goods are available in Panama City or through forwarding services, but I find myself needing less. I’m more mindful of what I consume, and that’s been a welcome shift.

Health and Lessons Learned

I’ve had some health issues, including gallbladder surgery. I initially paid out of pocket for labs and appointments, probably around $150. But after a painful episode, I went to the public hospital and had laparoscopic surgery for under $500. It would have been $5,000 at a private hospital.

The care was good once I was admitted, but there were long wait times. I now plan to get private insurance. Living alone, I also realized the importance of having a plan in place; I had to drive myself to the ER and figure out care for my cat at the same time.

The experience taught me a lot about resilience and self-reliance. It also made me realize that while I enjoy living alone, it’s important to build a network and have a few people you can call in an emergency. I’ve since made some strong connections and feel more supported.

There are excellent private hospitals in Panama City, but they’re 2.5 hours away. It’s something to consider when choosing where to live. I wouldn’t change my decision, but I’m more informed now and better prepared.

Exploring Beyond El Valle

Lush trails and misty peaks surround El Valle’s ancient volcanic crater.
Lush trails and misty peaks surround El Valle’s ancient volcanic crater.|©Erica Mills

Panama has so much more to offer. I love taking trips to nearby beaches, waterfalls, and nature reserves. It’s easy to hop in the car and be somewhere new in under an hour. I’ve visited Volcan, Santa Catalina, and Portobelo. Each place has its own character.

I also enjoy visiting Panama City occasionally for restaurants, and shopping. It’s a bustling, modern city with everything you could need. But I’m always happy to return to the calm of El Valle.

I have a long list of places I still want to see, including other countries in Central and South America. Having a home base here makes travel easier and more affordable.

Final Thoughts

I'm happy I chose to live here. It gives me the peace, beauty, and financial freedom I was looking for. I might sell the house down the line and travel more, but for now, this is home.

My advice: don't over-research. Come see it for yourself. Try house-sitting, relocation tours, or short-term rentals. Let the experience tell you what feels right.

And reframe your fear as excitement. That shift in mindset has made all the difference for me. Living in Panama has brought me back to myself. I feel more creative, more alive, and more grateful for the simple things.

Every morning when I look out at the mountains and sip my tea, I feel grounded. This home gave me more than a new address—it gave me the space and peace I needed to create a new life. I know I made the right decision.

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