RetireJapan

Hi

Forgive is the topic is a bit off, I just write what me and my partner have been talking about.

We have been renting for nearly 11 years and to think of the money we’ve put in someone else’s pocket is one thing.

Coming from UK and the system here where as soon as you buy a property in starts to devalue and after 30 years or so the land is the only thing worth anything is something that is niggling at me.

I don’t know what the future holds, right now we don’t no long term where we will be.

Is there a question? Just any advice if anyone has been in the same position or from anyone who thinks they can add to the thoughts?

Many thanks for any help

Personally I think it's great that housing is affordable here (it certainly isn't in the UK/Aus/Can any more).

One way to look at it is to consider the total cost, and in most cases you will end up better off buying in Japan if you can live in the property for at least a decade. You'll also end up with a much more pleasant living space for the price.

If you are likely to need/want to move, then renting gives you more flexibility.

I'm from the UK too.
As a single guy with no interest in marriage or kids, the only reason I bought my house in Japan is so I have somewhere to live for free in retirement.
It was twenty years old when I bought it. (New houses are an utter rip-off in Japan, given how shoddily they are built and how they generally lose value so quickly).
Decide if you want to be in Japan for the rest of your life. If "yes", buy a house (but not a brand-new one). If "no", just rent.

Although it's highly likely that whatever you buy will depreciate in this country, you can take steps to mitigate the amount of depreciation you're forced to swallow. The two main things you can do are: 1. choose a property that is in a desirable location and has reasonable resellability prospects; and 2. minimize your initial spend by, for example, choosing a used house over a new build.

Thanks for everyone’s comments so far.

You guys talk about not buying new, but buying used. What things should I you look at when buying used?

Tahbsk again

Maybe you could see Depreciation as the fourth deadly 'D' that is sucking the blood out of the Japanese economy. The other three being Demographics, Debt and Deflation.

All things being equal if you can achieve the same lifestyle, renting is the better option.Homes will be a timesink and a huge expenditure the longer you own them, and the older they are.

Buying in Japan makes sense when you can achieve a better lifestyle for similiar costs, or in areas with few decent rental options.

Haystack wrote: ↑Mon Feb 28, 2022 5:26 am All things being equal if you can achieve the same lifestyle, renting is the better option.Homes will be a timesink and a huge expenditure the longer you own them, and the older they are.

Buying in Japan makes sense when you can achieve a better lifestyle for similiar costs, or in areas with few decent rental options.

Well, there's a tipping point where buying does become the better deal. It's case-by-case, but generally speaking, if you're going to be living there 10 years (+/- 2years or so), buying often wins out.

John_conner wrote: ↑Mon Feb 28, 2022 4:11 am...
You guys talk about not buying new, but buying used. What things should I you look at when buying used?
...

Just now in this Real Estate sub, there are a couple of threads on buying used--take a look!

1+ buy used