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I think this is becoming increasingly less common. I am seeing lots of 30+ year old homes for sale in my local market that have been renovated by the seller bef

I think this is becoming increasingly less common. I am seeing lots of 30+ year old homes for sale in my local market that have been renovated by the seller before putting it up for sale. Housing quality has improved significantly since the post-WW2 era, so there’s no need to tear down a 30-year old home anymore. Some new appliances, wallpaper, and flooring is enough to attract a buyer. Here’s an example of a listing of a 39 year old home where renovation is still in progress. They include product links to the new appliances they are installing now, and will update the listing once remodeling is completed. This is super common to see in used homes listings these days. https://suumo.jp/chukoikkodate/gumma/sc_takasaki/nc_71189001/ https://suumo.jp/chukoikkodate/gumma/sc_takasaki/nc_71189001... I do still see a lot of houses being torn down. But they are more like 50+ years old, and in such a state of disrepair that they are not worth saving.

dsfyu404ed 4y ago
>I think this is becoming increasingly less common. That should be the case. As regulations get stiffer and stiffer the amount of area under the "long tail" get smaller. Of course there's always people who want to screech about how more is needed but at some point the tail is so narrow that society just ignores them because the amortized cost per improvement is just so high it's a no-starter.
KaoruAoiShiho 4y ago
I wonder if japan has an architect industrial complex that would lobby to keep regulatory changes regular.
zztop44 4y ago
I agree. I just bought a 20 year old place and it’s still in fine condition (and freshly renovated). Im planning to live in it for a while but honestly I wouldn’t be surprised if so long as I renovate it before selling I can get basically the same as what I paid now in another 10 or 15 years.
- InCityDreams 4y ago
  >I can get basically the same as what I paid now in another 10 or 15 years. Accounting for inflation, or without (even approximately)?
  - TylerE 4y ago
    Is Japan inflationary? I know their central bank actually had negative interest rates for a long time.. still, maybe.
    - richiebful1 4y ago
      A whole 4% year-over-year. Seems like a pretty healthy level of inflation to me. https://www.bloomberg.com/news/articles/2023-01-19/japan-s-inflation-hits-4-for-the-first-time-since-1981#xj4y7vzkg https://www.bloomberg.com/news/articles/2023-01-19/japan-s-i...
- anigbrowl 4y ago
  May I ask how difficult this was, in terms of paperwork and so forth, and (if you're not Japanese) getting to know your new neighbors? Thanks.
  - jstarfish 4y ago
    From what I've seen, buying a house is easy (you can hire brokers/realtors to do the paperwork) but the biggest hurdle is your visa status. Owning property does not entitle you to stay in-country longer than 90 days. You'll need a local job or spouse in order to reside there. Loans can also be difficult for foreigners to acquire, so prearrange financing or cash.
  - lovemenot 4y ago
    I am not the person you responded to. I bought a house in Nagano last year. After living in Tokyo a long time The paperwork was not too difficult. Takes about 3 hours to walk through it all, in the presence of the seller, realtor and scrivener. Hand over the cash and take ownership. The neighbours have been unexpectedly wonderful. Very kind. I live there most of the time and wish to contribute. I actually think it's advantageous to be a (European) foreigner. They realise all the little nit-picks that Japanese do to each other in the service of community would be mostly lost on me. YMMV.
fomine3 4y ago
Most important regulation for earthquake proof was made in 1981, that is about 40 years ago. It's often mentioned first on buying house checklist. So I expect that more houses will be supplied to market.

dsfyu404ed 4y ago

>I think this is becoming increasingly less common. That should be the case. As regulations get stiffer and stiffer the amount of area under the "long tail" get smaller. Of course there's always people who want to screech about how more is needed but at some point the tail is so narrow that society just ignores them because the amortized cost per improvement is just so high it's a no-starter.

KaoruAoiShiho 4y ago

I wonder if japan has an architect industrial complex that would lobby to keep regulatory changes regular.

zztop44 4y ago

I agree. I just bought a 20 year old place and it’s still in fine condition (and freshly renovated). Im planning to live in it for a while but honestly I wouldn’t be surprised if so long as I renovate it before selling I can get basically the same as what I paid now in another 10 or 15 years.

InCityDreams 4y ago
>I can get basically the same as what I paid now in another 10 or 15 years. Accounting for inflation, or without (even approximately)?
- TylerE 4y ago
  Is Japan inflationary? I know their central bank actually had negative interest rates for a long time.. still, maybe.
  - richiebful1 4y ago
    A whole 4% year-over-year. Seems like a pretty healthy level of inflation to me. https://www.bloomberg.com/news/articles/2023-01-19/japan-s-inflation-hits-4-for-the-first-time-since-1981#xj4y7vzkg https://www.bloomberg.com/news/articles/2023-01-19/japan-s-i...
anigbrowl 4y ago
May I ask how difficult this was, in terms of paperwork and so forth, and (if you're not Japanese) getting to know your new neighbors? Thanks.
- jstarfish 4y ago
  From what I've seen, buying a house is easy (you can hire brokers/realtors to do the paperwork) but the biggest hurdle is your visa status. Owning property does not entitle you to stay in-country longer than 90 days. You'll need a local job or spouse in order to reside there. Loans can also be difficult for foreigners to acquire, so prearrange financing or cash.
- lovemenot 4y ago
  I am not the person you responded to. I bought a house in Nagano last year. After living in Tokyo a long time The paperwork was not too difficult. Takes about 3 hours to walk through it all, in the presence of the seller, realtor and scrivener. Hand over the cash and take ownership. The neighbours have been unexpectedly wonderful. Very kind. I live there most of the time and wish to contribute. I actually think it's advantageous to be a (European) foreigner. They realise all the little nit-picks that Japanese do to each other in the service of community would be mostly lost on me. YMMV.

fomine3 4y ago

Most important regulation for earthquake proof was made in 1981, that is about 40 years ago. It's often mentioned first on buying house checklist. So I expect that more houses will be supplied to market.