When the stunning twin towers of Royal Palm, a residential complex in Nueva Gorgonia, Panama, officially opened its doors August 2019, Michelle and Dean Faust of Scottsdale, AZ were the first to take possession of a new Pacific Ocean facing home. “We are ready,” said Michelle earlier, pleased to have everything lined up as soon as the paperwork completed.
“After we sign the paperwork, we have a few things to do in Panama City. After that the appliances will be delivered and installed, the furniture comes in, other things are scheduled and by Saturday we expect to be sleeping in our new home in Royal Palm! I can’t wait to fall asleep listening to the waves of the Pacific Ocean.”
Two Towers Situated On The Pacific Ocean
Situated directly on the ocean, the Royal Palm complex consists of two towers connected by a common social area and ascending space connecting the 28-floors of the first tower and 21-floors of the second tower. All residences enjoy ocean views and access to a long list of amenities such as pools, a sports court, sauna, children’s play area, jacuzzi and rooms for large social events.
“Royal Palm was an easy decision for us,” said Michelle as she gave a little laugh. “When we walked in and saw that view we were pretty much sold on it immediately. The wrap around floor-to-ceiling windows and a view from every room. It was amazing,” she said.
Starting The Experience In Costa Rica
Michelle, who spent most of her career as a pharmaceutical representative and Dean, a retired family practice doctor, were not new to the concept of living abroad. Their decision to purchase in Royal Palm was based on years of experience.
“We built a home in Costa Rica in 2005,” explained Michelle, “and we had some great times and definitely great friends, but crime in Costa Rica continued to rise and the cost-of-living also kept going up. It’s exciting and romantic to say you live in a jungle, but the reality is that it’s often very hard.
Royal Palm’s “lock and leave” ability was appealing to the Fausts as they plan on splitting their time between Arizona and Panama. “Scottsdale gets its best weather during winter, when others want to head south,” she explained. “We spend our winters in Arizona, when the demand for Panama beach rentals is highest. Then go spend our summers on the beach.”
Michelle and Dean have an advantage in that Arizona offers its loveliest climate in the winter, when those in colder climates are fleeing to warm places like Panama. “Most people want to come to Panama from October to May, but that is not our case because we live in the southwest. We are planning on making our home available for rent when we are not in Panama,”
With that concept in mind, the Fausts decided having a second unit in Royal Palm was a smart investment. “We will primarily rent the second condominium full time, with the exception of when we need an extra bedroom for family and friends,” she explained. “Royal Palm was just too much of a good thing. Not only did we get a really attractive pre-construction price for our larger residence on the fifth floor, we managed to take that even a bit further with the investment unit on the 11th floor.”
Working Anywhere With The Internet
The Fausts haven’t completely retired. “My husband is a part-time adjunct professor at Midwestern University and I’ve started a new business doing content and copywriting for marketing clients,” Michelle said. “I can take my work with me anywhere, so I plan to work and write from Panama. He can do online classes occasionally.”
Busy with her new business, Michelle doesn’t have much time to be managing rental units– particularly when she’s back in Arizona. So how do the Fausts find renters and keep their units in top condition? “There are so many property management options in this area– we haven’t actually decided who will be working with yet. But it was comforting to know we would have options. I can do some of the management when we are here, but we really want professionals who have the connections.”
Capitalizing On A Window Of Opportunity
While the on-site restaurant and the convenience store located within the Royal Palm complex will not be open for its first occupants, things are taking final shape around the property.
“It has taken a bit longer than we expected but it worked out well for us,” said Michelle. “When we first started looking at Panama, Royal Palm hadn’t broken ground, we hadn’t sold our Costa Rica home and everything was in flux. Watching Royal Palm go up from the shores of the Pacific Ocean was exciting, but it also gave us about 18 months to get everything in order,” she explained. “Having that window of time worked well for us,” she said.
“Now when I walk around the Royal Palm property I can easily visualize everything coming to life. It’s so lovely here, the common areas are beautiful and the pools are just so inviting with that ever-present sun sparkle. I have such a sense of peace here, so if everything isn’t perfect the minute we move in, I know it will be soon. We’ll forget any frustrations because just listening to the sound of the ocean waves is worth everything.”
Accepting And Enjoying The Challenge
When the Fausts first told people they were moving part-time to Costa Rica, “they thought we were a little crazy,” she laughed. “No one else in our family had ever done anything similar and to this day, I’m not sure any of them would. This life isn’t for everyone,” she said. “The climate, the food, it’s different. I actually have favorite foods in Panama that I enjoy here and when I get back to the States, I have favorites I can’t find in Panama. It’s a good give and take.”
As a family physician, Dr. Faust is not concerned about medical care in Panama. Michelle noted “with Johns Hopkins building a second internationally affiliated hospital in Panama City, that tells you something important. We haven’t had any problems medically but by all accounts the care is good and the price is very nice. We had our teeth cleaned the other day– the price was great and the care was good as you’d get in the States.”
Making Room For Family
With five children between them and three grandchildren, the Fausts look forward to family times together in Panama. “Dean’s youngest son, who is preparing to go to his first year of college in San Diego, is with us now,” said Michelle. “We will get him to the airport the day after we take possession of the larger unit in Royal Palm and then all the kids know they have a place to vacation that is rent free,” she said.
Michelle also noted that “the son who is here now, helped a great deal with our decision to choose Panama and Royal Palm. He had been with us all during our time in Costa Rica so it was good to also get his measure of things.”
Longer Flight But Better Connections
Michelle says there are many differences between Costa Rica and Panama including the fact it’s a longer flight to Panama from Phoenix as opposed to Costa Rica. “It takes about seven hours as opposed to five, but just getting to San Jose took three hours of driving and here we’re about an hour from the airport. Tocumen is also a hub and we enjoy traveling so we have a lot more direct options for South America and Europe,” she said.
“We are finding it very easy to make friends and we find that people who are expats are already a bit different and adventuresome. We all stick out because we look and act differently,” she said. “but everyone is accepting and we love the fact every day is an adventure.”
Once the Fausts have the keys to their new units firmly in hand, and some furniture delivered and functional, they are planning on a celebratory dinner. “Probably at Cafe Med in neighboring Coronado,” she said. “It’s right off the highway about a block or so in and the food is primarily Mediterranean. It’s high quality with exceptional service in an open-air setting. It’s laid back, but great food. We really enjoy it, but there are lots of good restaurants right here so we aren’t sure. We are just excited about getting settled in Royal Palm.”
