How to Buy or Build a House in Japan
There are 2 common ways to own your own house in Japan. You can buy one that has already been built which is called a tateuri 建売 or you can build a house to order which is called achumon jutaku 注文住宅 . I have bought a tateuri in the past and am in the process of building a chumon jutaku now. In the future I will add more information here about what the process was like and which company I used. Hopefully I will even write another book about it.
But to give you an idea of costs. You could borrow 20,000,000 yen for 35 years with a monthly payment of 60,000. Or even 30,000,000 for 35 years with a monthly payment of 90,000. Those mortgage figures are probably close to what you are paying for renting a 1K in the city or a 3LDK in the countryside. You could be paying the same monthly amount but actually owning your own property. And if you have permanent residence or are married to a Japanese citizen, then it is not that hard to get a bank loan. For 20,000,000 you could get a 3LDK tateuri in the countryside and for 30,000,000 you could get a decent chumon jutaku in the countryside. Rakuten Ginko offered to lend the highest amount of any banks I contacted and if you don’t want to do it online then the Gifu Shinyo Ginko has some good offers regarding bridge loans (which I will go into more detail about later on). The UFJ bank is where I got my first loan and I found them very easy to deal with, but they did not offer the highest loan amounts.
If you have any questions about buying or building a house in Japan, please feel free to contact me at info@nowinjapan.com