Building a home in Panama is not the same as in other countries like U.S or Canada. For example, In Panama you would need a Panamanian architect to submit the plans. In addition, any changes you want to make to the original plans, will require a permission from the Panamanian architect.
Below are some tips on how to build a home in Panama:
1. Look online for internet architecture plans designed for concrete block construction. You would need to purchase the plans on a disk so the they can be modified by the original architect. Make sure the plans are suitable for your land’s grade and fits on your lot. It’s better if you get the plans in the metric system to use in Panama.
2. Now it’s time to find a Panama architect. He will need to redraw the plans in Spanish using the metric system for earthquake construction.
3. Look for a reliable Panama real estate lawyer to hire. He will need to write the contracts in English and in Spanish.
4. Locate a loan company, local bank or escrow company and ask them to open a construction account with disbursements (pre-agreed) to your general contractor. You should expect them to inspect the site before each disbursement. This move will help minimize fraud by the contractor.
5. Once you are satisfied with the detailed specifications provided by the architect, you can put the plans up for bidding.
Another two alternatives to consider:
1. Buy an existing home which was built for a foreigner and remodel it. Since it is built for a foreigner, there’s a good chance that the foreigner will have different specifications than a local and it will suit your needs better.
2. Try and look for a reputable builder that has good references from foreigners. When you found one, use his architect to create the plans. This will probably be cheaper than buying the plans on the internet and paying the architect to modify the plans and charge you with fees.
MLS Acobir, is the most preferred property list in Panama. Please contact us for all of your Panama Relocation and real estate needs.