Plan -> Buying a second hand house and renovating.(check list?)

[Tsumitate Wrestler]

We are looking to be in a new property by April 2026, when our son starts elementary school.

We have an approximate area already.

We need to the following. What am I missing? What takes priority?

+ Widdle down the area more
+ Estimating cost for desired property w/ existing listings
+ Simulate budget w/different mortgage payments
+ Save downpayment (amount?)
+ Talk to a lender
+ Talk to a agent

(PR, Japanese suppose).

[RetireJapan]

I would look at as many properties as possible in the area, using a number of different agents. This will give you an idea of what is available, prices, and you might find an agent you like.

Probably don't need a downpayment.

Real estate agent can help get you a lender.

[Tsumitate Wrestler]

I would look at as many properties as possible in the area, using a number of different agents. This will give you an idea of what is available, prices, and you might find an agent you like.

Probably don't need a downpayment.

Real estate agent can help get you a lender.

Seeing lots of properties makes sense! Hard with kids though.

Is it normal to start now with our current timeline? I worry about wasting an agent's time when we are still in the early stages.

No downpayment? Okay. Wow. I thought that was only for new builds.

[RetireJapan]

Seeing lots of properties makes sense! Hard with kids though.

Is it normal to start now with our current timeline? I worry about wasting an agent's time when we are still in the early stages.

No downpayment? Okay. Wow. I thought that was only for new builds.

The sooner you start, the more information you will have. Agents have quotas so will be happy to show you around.

Biggest purchase of your life for most people. Probably worth doing your homework beforehand

Should be able to borrow up to 110% assuming you are in stable employment and the property is up to earthquake standards etc.

[Gareth]

I worry about wasting an agent's time when we are still in the early stages.

Don’t worry about that. We looked at places for over a year with our agent. Built up a good relationship with him, and he got to know what we were looking for, what we liked and disliked about previous places we had looked at. In the end, he called us about a place that had been put on the market that morning before it had even been uploaded to the usual online sites. It was exactly what we were looking for so were able to view it immediately and put an offer in the next day. Have been living here happily for 18 months now.

All the best with it!

[Tsumitate Wrestler]

Seeing lots of properties makes sense! Hard with kids though.

Is it normal to start now with our current timeline? I worry about wasting an agent's time when we are still in the early stages.

No downpayment? Okay. Wow. I thought that was only for new builds.

The sooner you start, the more information you will have. Agents have quotas GBso will be happy to show you around.

Biggest purchase of your life for most people. Probably worth doing your homework beforehand

Should be able to borrow up to 110% assuming you are in stable employment and the property is up to earthquake standards etc.

I worry about wasting an agent's time when we are still in the early stages.

Don’t worry about that. We looked at places for over a year with our agent. Built up a good relationship with him, and he got to know what we were looking for, what we liked and disliked about previous places we had looked at. In the end, he called us about a place that had been put on the market that morning before it had even been uploaded to the usual online sites. It was exactly what we were looking for so were able to view it immediately and put an offer in the next day. Have been living here happily for 18 months now.

All the best with it!

Thank you both.

I really dread this process.

We have incredibly affordable company housing that I am sad to give up, but it's old, cold and a bit uncomfortable,,and we've outgrown it. My wife wants a dog, and I want to not bend st 90 degrees to wash my hands or use a mirror.

[RetireJapan]

We have incredibly affordable company housing that I am sad to give up, but it's old, cold and a bit uncomfortable,,and we've outgrown it. My wife wants a dog, and I want to not bend st 90 degrees to wash my hands or use a mirror.

At some point it's okay to do things that are maybe not the best financial choice but will make your life better

I never wanted to buy in Japan, but I am really happy in our manshon now and it's been great to be able to customize it the way we wanted to.

[tokyojoe]

Dear All,
I was thinking of posting this in the RetireJapan for Dummies section, or as a separate post in
the Real Estate section, but since my position is somewhat similar to that of Tsumitate Wrestler
I thought I may as well put it here.
I just wanted to ask whether anyone can recommend a website / book etc. that introduces the whole process of buying a property in Japan for someone who doesn't know much about it?
Somewhere to get a first heads upon the whole process. I am vaguely familiar with the
UK process / situation (although I have never bought a place anywhere), but of course there
will be many differences with the Japanese situation. The sort of topics I am interested in
include things like:

• From a financial point of view, how does one calculate the effective cost relative to renting?
  (how to work out when you would be better off renting from a financial viewpoint)

• How about flats versus houses (leaseholds have a poor reputation in the UK just now, but flats are obviously much more popular in Japan so maybe the situation is better evolved)

• How best to go about getting financing

• How about 'surveying' in Japan

• What to be careful about when buying a 'second-hand' house / flat etc.

• How mortgage tax relief works, whether one can tune the loan / amount or period to get the best tax relief

etc !
Many thanks in advance.

[RetireJapan]

Dear All,
I was thinking of posting this in the RetireJapan for Dummies section, or as a separate post in
the Real Estate section, but since my position is somewhat similar to that of Tsumitate Wrestler
I thought I may as well put it here.
I just wanted to ask whether anyone can recommend a website / book etc. that introduces the whole process of buying a property in Japan for someone who doesn't know much about it?
Somewhere to get a first heads upon the whole process. I am vaguely familiar with the
UK process / situation (although I have never bought a place anywhere), but of course there
will be many differences with the Japanese situation. The sort of topics I am interested in
include things like:

• From a financial point of view, how does one calculate the effective cost relative to renting?
  (how to work out when you would be better off renting from a financial viewpoint)

• How about flats versus houses (leaseholds have a poor reputation in the UK just now, but flats are obviously much more popular in Japan so maybe the situation is better evolved)

• How best to go about getting financing

• How about 'surveying' in Japan

• What to be careful about when buying a 'second-hand' house / flat etc.

• How mortgage tax relief works, whether one can tune the loan / amount or period to get the best tax relief

etc !
Many thanks in advance.

There are plenty of sites, books, and even magazines for property buyers in Japanese. I don't know of any in English. Have a vague plan to write a RetireJapan Guide to buying your home in Japan eventually, but I'm not sure when that will be

[tokyojoe]

There are plenty of sites, books, and even magazines for property buyers in Japanese. I don't know of any in English. Have a vague plan to write a RetireJapan Guide to buying your home in Japan eventually, but I'm not sure when that will be

Hi Ben,
Thanks for the reply - yes, it was the sort of introduction your excellent NISA guide gives to the prospective NISA investor I had in mind
when I was asking for such a house-buying guide. I guess house buying probably applies to fewer people than NISA investing, but I am
sure if at some time you did write such a guide it would be appreciated!