My partner and I are going back and forth between a new detached house, or a used detached house that we would renovate. However, I am unsure of what “rule of thumb” to use while estimating costs. We are looking in the Ota area of Tokyo.
*In my opinion used homes seem quite inflated compared to new, warrantied builds* Am I missing something here? (I know I am speaking in generalities).
If it is simply that the land value is what is being “sold”, and the used house has little value, I suppose I would need a way to roughly calculated a “partial rebuild cost/total rebuild cost” within the Ota-area. Are there any recommendations for “rules of thumb” here, or perhaps a calculator tool?
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We probably need to settle on a more specific area before we contact an agent, but some work in Summo and excel leave me a little baffled about the pricing of used detached homes.
Budget Max 85,000,000 (Soft okay from SMBC)
Purchase Window 12 months+
4LDK Detached(or similar)
10 minutes from a station, good area for kids
Consideration – Sensokue-ike area, Ikegami Area, Magome area
by YempJapan