4 ms·

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

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.
  - freetime2 4y ago
    Having lived in Tokyo for a long time probably helped, as you are familiar with the language, local customs, and dealing with beaurocracy. I'm not sure if the parent has prior experience living in Japan, but if not I would think the whole process could be quite bewildering.
    - anigbrowl 4y ago
      I do have longtime priors, but there are always new things to learn. Thanks.
      - freetime2 4y ago
        Ok then I would agree buying a house is easy. A real-estate agent should take care of everything and you are only really responsible for stamping your seal (about 100 times) and transfering the money. Getting a loan is also fairly easy provided you are employed and have permanent residency (or a spouse who is a permanent resident or citizen). Shinsei Bank (recently acquired by SBI) seems to specialize in loaning to foreigners. Neighbor situation is highly variable. I have some neighbors who I am quite friendly with, and others I literally have never seen. Typically neigbors will at least be polite, but you do hear horror stories of neighbors quarreling about taking out the trash, snow falling from the roof onto the neighbor's property, etc. My next-door neighbors live with their aging parents, and the grandfather (who has dementia) once shouted at someone who was doing work on my house. And people do tend to gossip, but it's mostly harmless.

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.
- freetime2 4y ago
  Having lived in Tokyo for a long time probably helped, as you are familiar with the language, local customs, and dealing with beaurocracy. I'm not sure if the parent has prior experience living in Japan, but if not I would think the whole process could be quite bewildering.
  - anigbrowl 4y ago
    I do have longtime priors, but there are always new things to learn. Thanks.
    - freetime2 4y ago
      Ok then I would agree buying a house is easy. A real-estate agent should take care of everything and you are only really responsible for stamping your seal (about 100 times) and transfering the money. Getting a loan is also fairly easy provided you are employed and have permanent residency (or a spouse who is a permanent resident or citizen). Shinsei Bank (recently acquired by SBI) seems to specialize in loaning to foreigners. Neighbor situation is highly variable. I have some neighbors who I am quite friendly with, and others I literally have never seen. Typically neigbors will at least be polite, but you do hear horror stories of neighbors quarreling about taking out the trash, snow falling from the roof onto the neighbor's property, etc. My next-door neighbors live with their aging parents, and the grandfather (who has dementia) once shouted at someone who was doing work on my house. And people do tend to gossip, but it's mostly harmless.