Colombia has one of the largest 'perception gaps' in the world though it has been closing since 2010 fairly rapidly. It is very safe and people are nice, never felt any risk here taking reasonable precautions not to drive to the old downtown with windows down wearing gold or waving new Samsung phone about.
Not all of Colombia is great value, Cartagena is pricey but Medellin and the Antioquia region generally are great/beautiful. Only snag is development is so fast now if you buy an apartment you can't be certain someone won't build in front of you
Costa Rica I have not been to but everyone has the same view of it. Nice however too 'gringo'? & too expensive for what it is. Panama is about half the cost of Costa Rica and Colombia half of Panama (though rising).
I like to live simply with a little luxury only sometimes. Epicurean philosophy, to enjoy a good meal you should eat plainly most days etc. For me, Epicurus was quite the lifestyle guru of his day, things he wrote about how a human can best be happy have only recently been re-discovered by us modern people.
Colombia's occasional luxury limitations, particularly in the countryside were actually a big draw for me when I moved here.