When you buy a house in Japan
1. Gathering information (through newspaper advertisements, flyers, real estate
agent advertisements, etc)
(1) Considering the differences between renting and buying a home
If you buy a house, property taxes and maintenance fees will be charged.
(2) Considering the kind of house you want
Detached house: It is the owner’s responsibility to clean up the garbage
collection station and roads around the house.
Apartment: Other than the monthly repayment on the loan, you may have to pay maintenance
service fees, pay into a repair fund, pay a parking lot fee, etc.
* There are also houses built on leased land. It is possible to build a house
on leased land. Although it is 50 to 60% cheaper than buying a house with land,
you have to return the land after the lease expires. (This is fixed at more than
50 years.)
2. If you find a house you like, contact a real estate agency and do following
things;
(1) Check the house
Detached house: You should carefully check the shape of the land, the foundations
of the house, house utilities such as water, gas, electricity, etc.
Newly-built apartment: You should visit and see the showrooms of the apartment
and the construction site of the apartment.
Secondhand apartment: You should check for cracks in, and stains on the walls,
etc.
(2) Checking funds
Check how much cash you have, the amount of money you can borrow from a bank,
etc. (mortgage). It may be necessary to show your certificate of income and withholding
tax.
Moreover a permanent resident status is required to borrow money from a bank.
3. If you decide to buy a house, the following procedures should help you make
a proper contract
(1) Making a purchase application
Pay the purchase application fee (the amount is not fixed) and obtain a receipt.
(2) Explanation of important matters and the conclusion of a contract
In Japan, a registered real estate transaction manager explains the contents of
a contract. After this, pay the deposit and complete the contract.
(3) You may apply for a loan from a public financial corporation, or bank, etc
* You need to sign and place your seal on many documents. It is advisable to have
someone who can read a Japanese contract with you. You should also have your seal
registered at your ward (city / town) office beforehand.
4. Pay the remainder and obtain ownership of the property (You should receive
the title deeds and keys to the property)