We’re considering a 20 year old property for 30 mil in Yokohama that will probably need about 3 mil in renovations to be move in ready. Actually, new properties in the same general area are only about 5 to 10 million more than this one but we have a slight preference for this one due to the style and layout. Actually, the land size is nearly double some of the newer properties which tend to be more vertical so it has that going for it too.
My big concern though is about resale down the road. I’m aware properties don’t appreciate the same way they tend to do in other countries but still want to make I’m not making a financially unwise decision. We can’t guarantee for sure but how would you expect the sale value of 20 year old property on 100sqm plot of land to hold vs a brand new property on a 50sqm plot say 20 years down the road when the first property is now 40 years old and the latter is 20?
by Logical-Sundae-5251