Grumpy Gramps wrote:Or a mountain retreat. Something to do. Just to hang out, sleep and watch tv while munching pop corn
I wish all I had to do there was hang out and sleep with a TV and snacks
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Grumpy Gramps wrote:Or a mountain retreat. Something to do. Just to hang out, sleep and watch tv while munching pop corn
Yokohammer wrote:* 4) You have permanent residence status, at least. I'm not sure that is a prerequisite for purchasing property here, but it just makes sense. You don't want to be in a position where sponsor/visa issues can interfere with your ability to live in your own home.
legion wrote:Basically the money you get back in the tax break for the first ten years goes on your property tax,...
wagyl wrote:There does not appear to be a restriction on the property subject to the loan: new build or other acquisition, or even an extension. http://suumo.jp/journal/2015/02/26/78579/
https://www.nta.go.jp/taxanswer/shotoku/1213.htm
Constantly fiddling with the limits almost every year so not something that seems to be reliable.
Russell wrote:wagyl wrote:There does not appear to be a restriction on the property subject to the loan: new build or other acquisition, or even an extension. http://suumo.jp/journal/2015/02/26/78579/
https://www.nta.go.jp/taxanswer/shotoku/1213.htm
Constantly fiddling with the limits almost every year so not something that seems to be reliable.
OK, so this only applies if you have a loan on the house.
legion wrote:Any landlord is going to include property tax, costs for repairs, loan payments, and a profit in the rent.
legion wrote:Yokohammer wrote:* 4) You have permanent residence status, at least. I'm not sure that is a prerequisite for purchasing property here, but it just makes sense. You don't want to be in a position where sponsor/visa issues can interfere with your ability to live in your own home.
When I bought my house I was on a very recent dependent of a japanese national visa. PR is a better option because you can get a loan from Mizuho who give the best rates. So after a while I switched to PR and we re-negotiated the loan, switching from Mitsubishi UFJ to Mizuho, the wife paid off a chunk of the principal with some savings plan that had come to fruition and our monthly repayments went way down. I now pay half what I used to pay to rent houses in Shinjuku then Meguro when I was single. I can't live in an apartment, I need space left and right, above and below. I think there is a huge psychological benefit to this, and it gets better when you own the bit below.,
So I concur with the hammer, it's not the best option for everyone, but if you want to settle down and start a family it makes a big difference. Living in the big smoke is great when you are single, but with kids I much prefer living out in the sticks & commuting. No high rises and three lane roads where I am.
Property tax is a bind, at least it tells me the value of this land is creeping up in that it creeps up too. Basically the money you get back in the tax break for the first ten years goes on your property tax, but hey, it keeps some bean counters employed. It should go down as the house itself becomes a liability.
Any landlord is going to include property tax, costs for repairs, loan payments, and a profit in the rent. If they own the place they are not going to rent it much cheaper, they are just going to buy themselves a nicer car.
But fundamentally this is not really about money, it's about owning a little bit of space and having the right to take decisions about it. Obsessing over money never makes people happy.
Grumpy Gramps wrote:And, shouganai, the building is getting older every year, while tenants prefer newbuilds, so occupancy rates tend to go slightly south over time. I think (= not sure) the banks guestimate somewhere between 60 and 80% average, if you ask for a loan.
For a one-family-home, occupancy rate would either be 0% or 100% at any given time, so the "volatilty" is a lot higher than for a say 20 condo-mansion. If a londlord runs this as a business/investment vehicle, he needs, therefore, comparably more rent for the family home than for one of the condos.
OTOH, legion's "need legroom" point is a very valid one. We are living in something like a 2LDK plus the space of a former coffee shop and I still feel like a tiger in a cage. Can totally relate to it.
Takechanpoo wrote:why the heck use a metaphor of tiger? eh?
cow/cattle is more suitable, isnt it? and they stay still inside the cramped shed.
Takechanpoo wrote:cow/cattle is more suitable, isnt it?
Takechanpoo wrote:why the heck use a metaphor of tiger? eh?
cow/cattle is more suitable, isnt it? and they stay still inside the cramped shed.
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