How to buy a dream home in Japan as a foreigner

Real Estate

some common misconceptions that foreigners have about buying a home in Japan

Whether it is a foreigner or a Japanese, there are various requests for houses, so I do not really feel common misconceptions in general.

However, this is also true for Japanese people, but in the case of foreigners, I feel that it is necessary to firmly establish future plans. From time to time I felt that it would be better to clarify whether you would sell your purchased property and return to your home country, rent a purchased property to obtain regular income, continue living, and so on.

Some people look for houses in a sensation, but it is not so, I think that it is important to look for houses based on firm data towards that plan.For example, even at apartments in nearby stations, prices are different depending on the distance between them.

Even within the same district, it is different whether the price is rising or falling. When choosing a house, I do not want you to change your dreams you absolutely want to realize, but I think that if you make a data-based approach to future plans to a certain extent, it will be a better home purchase.

Due diligence that buyers should do when buying a home in Japan

Watching the repair history is essential for buying houses. Among them, it is important to know when large-scale repairs have been carried out and when the waterproofing works on the rooftop have been carried out. Please be careful especially when you buy an apartment.

Please obtain the document named Important research report (Juyojikou-tyosa-hokokusyo) from the agent. There should be a repair plan so far written there.

Please check the repair reserve fund there and make sure to check whether expenses for repair work which will occur later will be enough. Condominiums in which repair work is not planned may gradually deteriorate their appearance and the asset value may decline.

Therefore, it is recommended that you ask the agent to Important research report  and check it together.

Preparation that people to buy and renovate a vacant house

In the case of a house, please check the structure and building diagram. In the case of an apartment, please check the management agreement.

In terms of a house, restrictions are imposed on the building structure and equipment around the water depending on the property. In addition, there is a restriction that you can renovate by managing contract if it is an apartment.

Therefore, there are cases when it is difficult to create a house as ideal as you might imagine.

negotiating on the listing price and offer

Basically, negotiation in Japan is early first-come and the right to negotiate is obtained. However, when multiple offers are entered at the same time, most cases are compared by amount. As a result, there are cases where negotiations may be disadvantageous, even if becoming first. Even if it is the second place, it may proceed favorably.

Main requirements for getting financing for a home mortgage through a Japanese bank for foreigners

Depending on permanent residence rights, work visas, annual income, etc., the burden ratio of own funds may change.

Basically, however, the main concern of the bank is whether the purchaser will not return your home country. During the payment period, the bank is asking if the buyer has been in Japan forever. 

For banks, when payment is delayed, if purchasers are abroad it will be difficult to prompt payment.

Therefore, when using finance, foreigners will need to prove to continue living in Japan.

The main fees and expenses when buying a home

Although there are various expenses, the main expenses are as follows. And it depends on the property. Please check with the agent before purchase.

Stamp duty
Registration license tax
Judicial scrivener’s compensation
Property Tax
Property acquisition tax
Brokerage fee
Financing commission
Guarantee charge
Fire insurance premium
Earthquake insurance premium
Group credit life insurance premium

The main running expenses and annual taxes
The cost varies depending on the property. Please contact the agent for details.
Property tax
City planning tax
Administration fee
Reserve fund


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