thamtutuhoanglong
New member
Hi all
I am thinking of buying a mansion in central Tokyo, and would appreciate the insight of anyone here who is better acquainted with the risks of ownership here.
My situation :
40 years old, married to a Japanese, have PR, one 2 year old child and another on the way. Been here 10 years, will likely relocate to UK or US in another 3. Currently rent a 3LDK 10 minutes walk from Meguro station for 240k a month which I can comfortably afford. Do not wish to leave the immediate area.
My idea :
Buy a place (maybe the place we live in if owner is interested) that will be a home for the next few years, but become a rental property if/when we leave. Buy an older 3LDK, within 10 minutes or less of the station, 70+ sqm, either refurbished or refurb ourselves. Budget up to around 1 oku.
The logic :
a) money is still cheap here and due to how leveraged Japan is this is unlikely to dramatically change b) apartments are relatively cheap here compared to London/NY/LA/Paris etc c) rental demand for decent apartments within 10 minutes walk of Shibuya/Ebisu/Meguro stations is extremely high and unlikely to cool off d) if/when we leave, rental income should comfortably cover loan + fees, but we’d effectively have someone in the property paying off what would become a future asset, or at least a place for us or our kids to live in, in the future
Are any of my assumptions here flawed? There is the alternative of a house but I have the impression that they are much harder to rent, and generally you will end up 15 min+ from the station, unless it is shoebox size.
mrg
I am thinking of buying a mansion in central Tokyo, and would appreciate the insight of anyone here who is better acquainted with the risks of ownership here.
My situation :
40 years old, married to a Japanese, have PR, one 2 year old child and another on the way. Been here 10 years, will likely relocate to UK or US in another 3. Currently rent a 3LDK 10 minutes walk from Meguro station for 240k a month which I can comfortably afford. Do not wish to leave the immediate area.
My idea :
Buy a place (maybe the place we live in if owner is interested) that will be a home for the next few years, but become a rental property if/when we leave. Buy an older 3LDK, within 10 minutes or less of the station, 70+ sqm, either refurbished or refurb ourselves. Budget up to around 1 oku.
The logic :
a) money is still cheap here and due to how leveraged Japan is this is unlikely to dramatically change b) apartments are relatively cheap here compared to London/NY/LA/Paris etc c) rental demand for decent apartments within 10 minutes walk of Shibuya/Ebisu/Meguro stations is extremely high and unlikely to cool off d) if/when we leave, rental income should comfortably cover loan + fees, but we’d effectively have someone in the property paying off what would become a future asset, or at least a place for us or our kids to live in, in the future
Are any of my assumptions here flawed? There is the alternative of a house but I have the impression that they are much harder to rent, and generally you will end up 15 min+ from the station, unless it is shoebox size.
mrg