Currently live in the US, I have about 6000万円 to my name with the current exchange rate. Half of it in 401k, the rest in cash or various post-tax investments that can be easily liquidated if needed.
I’ve been wondering about the possibility of using part of my savings to buy, in American terms, a 2 bedroom condo or equivalent (would that be “2LDK”?) somewhere in Japan and living through a part time job income without having to dip into my remaining savings. No specific location in mind yet, but not really looking to move to an Inaka area, either.
I’m a Japanese citizen with a passport and fluent in the language. I’m open to eventually trying boost my income through employment or freelance work related to my current career, but first I want to make sure I can get by without that for a while. For what it’s worth, I’ve also worked long enough in the US to collect social security when the time comes.
Am I in the right ballpark in terms of funds to make this happen, or am I still dreaming? Will I have trouble buying a property without employment? Any other surprises I should be prepared for and do research on?
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**Do I have enough to buy a property and “Barista FIRE” in Japan?**
Currently live in the US, I have about 6000万円 to my name with the current exchange rate. Half of it in 401k, the rest in cash or various post-tax investments that can be easily liquidated if needed.
I’ve been wondering about the possibility of using part of my savings to buy, in American terms, a 2 bedroom condo or equivalent (would that be “2LDK”?) somewhere in Japan and living through a part time job income without having to dip into my remaining savings. No specific location in mind yet, but not really looking to move to an Inaka area, either.
I’m a Japanese citizen with a passport and fluent in the language. I’m open to eventually trying boost my income through employment or freelance work related to my current career, but first I want to make sure I can get by without that for a while. For what it’s worth, I’ve also worked long enough in the US to collect social security when the time comes.
Am I in the right ballpark in terms of funds to make this happen, or am I still dreaming? Will I have trouble buying a property without employment? Any other surprises I should be prepared for and do research on?
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I think it depends entirely on where do you want to settle and your lifestyle. Have you try to calculate your yearly expenses?
Yes, you can buy a property with cash without a job; usually you can’t if you want to rent an apartment.
My boyfriend (who has lived in both Tottori and Tokyo his whole life) thinks it’s doable if you live frugally and choose a low cost of living area. Think somewhere between city and inaka but in cheaper prefectures.
Also if you mean regular part time jobs I hope you know they pay anywhere between ¥900-1.1K minimum so keep that in mind. Hopefully you can find something better.
Have you lived in Japan before? Definitely visit different prefectures and areas within your budget to see if you like the vibe first imho.
>I have about 6000万円 to my name with the current exchange rate. Half of it in 401k, the rest in cash or various post-tax investments that can be easily liquidated if needed.
My 3ldk on the Chiba side of the river in the subburbs of Tokyo cost 6500万円 around 8 years ago when I bought it. Current valuations actually have it closer to 7500万円 now. I’m also paying around 4万円 each month in common services fees (for maintaining the grounds, the elevators, paying the various staff, etc).
You’d probably want to be quite a bit further out with your budget (or at least in an urban center that isn’t Tokyo area).
You should probably poke around in r/japanfinance, those guys are the real finance wizards. Check their wiki as well.
As others have said, if you pick a smaller city, that should be enough. A new construction 3LDK can be had for ~2000万円 in a smaller prefectural capital like Kagawa or Kumamoto, as long as you don’t want to be in the city center. If you want to be in the Tokyo or Kansai area, it may be a bit of a stretch with what you have.
My 3LDK in north Yokohama cost me around 6500万 new. Nice views. The city will soon install a subway station on an extension line which will connect to the Denentoshi line, so the area will keep its value.
Barista FIRE in Japan is my dream haha I was suprisied to see this on my feed!
Honestly I think its completely doable. If you live in the city center of Tokyo, it might get tight, but in the Tokyo outskirts or a different prefecture you could forsure do it. Basically it just comes down to what kind of lifestyle you want and where you want to live though. Best of luck to ya!
Considering the real estate situation in Japan you may not want to buy a place unless you know you will want to live there for at least a few decades. Rent in Japan is totally reasonable and I’d recommend that over buying as it will give you freedom to move to another city more easily. If you had a family and wanted to settle somewhere long term buy a place. Otherwise renting is just better as long as you’re single. My two cents.