RetireJapan

Hi everyone,

I think I come for some kind of psychological support this time. I have been trying to buy a house (old Mansion) in the Tokyo area.
Right now, I am living by myself on a rent in an area I like very much. It is just so convenient for me: there are so many shops, trains easily accessible, facilities such as gym and pool nearby, etc. This area is now becoming extremely popular with new mansions and the prices have sky rocketed.

I am now planning to live with my girlfriend. She is coming from a more countryside area and she likes space. I am more for convenience. It is extremely difficult to find an acceptable old mansion within our budget that meet both of us conditions.

I am now forced almost to find in another area. It is super hard for me to accept to move. I have found cheaper and larger apartments but it's like I cannot go through the mental switch to purchase. And of course nice locations and good bargain don't stay for long on the market. My agent just called me to announce me that one of the apartment I was considering is gone to someone else. I could have brought it but I was looking for the perfect place.
This is my problem. I am just trying to find the perfect place and price...which is impossible (Let's say very rare).
It is actually the second time that I am missing an apartment that I liked but was not so sure about because I wanted to check everything. It is not a small investment. It is a huge investment.
It is amazing how people choose easily. I personally cannot make such decision so easily. I am so drained mentally that I think I am going stay with renting.

Anybody who faced the same dilemma?

No

I usually act on impulse.

When I bought my last house, which was at the time just a piece of land with weeds and a portaloo on it, I decided within seconds that it was the right place for me. The location was everything.

eagleyes wrote: ↑Wed Aug 28, 2019 6:32 am I am now planning to live with my girlfriend

If I understand correctly this is the first time you and your girlfriend would live together? I personally would not plan a house purchase in that kind of scenario. I would rent a place together, see how things go, then move to the next step a few years after that.

This might not apply to you for various reasons, but I think you're coupling two things that don't need to be, the "moving together" and the "buying a place". Have those two events not happen in the same time window, IMO. In particular since from your statement it's already obvious that you and your girlfriend are not even looking for the same lifestyle.

OkLah! wrote: ↑Wed Aug 28, 2019 8:13 am Anyone worried about the new Haneda landing routes that will be over central Tokyo? Haneda is only getting busier and busier...

Does it affect choice of location?

This is part of my thinking actually because i am considering near this area. Some people says it will affect the prices because it will become noisy. Some people says it will not have much effect. Actually Haneda busier means more people means the value of apartments nearby may increase.
Depending on the wind and the traffic, some planes are getting closer to where I leave already actually. It is not an inconvenience but I do not know when it will be every 10 minutes or something.

They say it is gonna start in next March.

ricardo wrote: ↑Wed Aug 28, 2019 7:46 am No

I usually act on impulse.

When I bought my last house, which was at the time just a piece of land with weeds and a portaloo on it, I decided within seconds that it was the right place for me. The location was everything.

I admire you. I guess it was within your budget and you were not afraid to be disappointed.

StockBeard wrote: ↑Wed Aug 28, 2019 8:57 am

eagleyes wrote: ↑Wed Aug 28, 2019 6:32 am I am now planning to live with my girlfriend

If I understand correctly this is the first time you and your girlfriend would live together? I personally would not plan a house purchase in that kind of scenario. I would rent a place together, see how things go, then move to the next step a few years after that.

This might not apply to you for various reasons, but I think you're coupling two things that don't need to be, the "moving together" and the "buying a place". Have those two events not happen in the same time window, IMO. In particular since from your statement it's already obvious that you and your girlfriend are not even looking for the same lifestyle.

Thanks for your comment. Yeah there is a bit of that and I understand your suggested would be better. But now I have the right age and right opportunity to buy. It is not that we do not have same lifestyle, it is that we do not have the same criteria: for instance apartment with view or not, which floor, near park or not, etc.

eagleyes wrote: ↑Wed Aug 28, 2019 9:13 am

ricardo wrote: ↑Wed Aug 28, 2019 7:46 am No

I usually act on impulse.

When I bought my last house, which was at the time just a piece of land with weeds and a portaloo on it, I decided within seconds that it was the right place for me. The location was everything.

I admire you. I guess it was within your budget and you were not afraid to be disappointed.

Yes, it was within budget, and we knew the area. It’s 95% perfect

Sound like continuing to rent for now is a good option. You don’t have a strong ‘push’ factor to buy and are understandably afraid of the commitment involved. If you buy someplace ‘sub-optimal’ in this frame of mind it may be a recipe for regret. Why not stay renting, keep looking for places and work through with your partner what would work for you both?

Personally I am more inclined to rent than buy in Japan. I am nervous about depreciation, rising costs (manshon fees), natural disasters, and being stuck next to bad neighbours.

We ended up buying our current place because the numbers were starkly in favour of doing so (our cost of ownership including mortgage and all house-related expenses is about half the cost of renting).

In your situation I would probably try and rent something for now, at least until you have a better idea of what you and your partner will be doing in the long run.

I think it only makes sense to buy real estate if you are you going to live there for a long time. This is true everywhere, but especially in Japan.

Good luck!

Yes, you have to be especially careful in Japan to buy the right place I think, as any further move is going to cost you in terms of the usual moving costs plus depreciation. I still prefer owning to renting though, assuming it’s reasonably long term; the insecurity of knowing you can be evicted without much notice preys on the mind as you get older in my experience.