I was wondering, someday I’d like to own a house in japan, but i know very little about the subject, i was thinking about buying the cheapest one available, a “starter house” so to speak, and then move to a better house in the future,
Lets say for the sake of argument, that i want to but a 300万円 house, obviously I’d had to pay for it every month, and I’d have to pay a percentage of the original price for it, my question is,
How much of a percentage did y’all paid when you first bought your houses, and, how much per month or year did you paid after?
How expensive is the paperwork?
How does taxation work when you own a home in japan?
If you could share your experiences I’d be thankful!
3 comments
There is no such thing as a “starter house” in Japan. Any house you buy will be worth very little and will be hard to sell.
It would be like buying a brand new car as a “starter car” and expecting to get what you paid for it back
You get an idea where you want to live and check some houses out.
Then you go to the bank, describe what kind of place you are looking to get, the maximum loan amount, your income, down payment and then they will give you a loan pre approval usually good for one year.
Then confirm the place you want to buy with the real estate agent and the keys are yours.
A general trend I observed is loan approval requires, PR, 20% down and the loan amount shouldn’t exceed 8x your gross annual income.
>300万円
You’re missing a 0 there.
>How much of a percentage did y’all paid when you first bought your houses
It’s been a few years but I think I put down 2,000,000 yen for a 30,000,000 yen property.
>how much per month or year did you paid after?
About 95,000 a month.
>How expensive is the paperwork
Extensive or expensive? The realtor explained a lot to me and gave me a big fat binder full of information about the property. If you’re talking about other fees like…lawyer stuff.. whatever it’s called to register the property (someone help me out here) – I forgot. 500,000 yen? Honestly, if you’re buying a property, prepare to pay out of the nose right at the very beginning.
>How does taxation work when you own a home in japan?
Ask in the finance sub.