Should I buy a "空き家" (akiya) house in Japan?

Buying a home is an important decision and can have a big impact on your finances and life. In the Japanese real estate market, a notable trend is the purchase of abandoned houses, known as "空き家" (akiya).

Jun 13, 2023 - 22:01
Jun 7, 2023 - 22:03
Should I buy a "空き家" (akiya) house in Japan?

These homes are often sold for less than new homes. However, before deciding to buy an akiya house, you should consider the following factors:

1. Condition of the house
An akiya house usually has been abandoned for a long time, so the condition of the house may not be good. Before buying, you should carefully check the structural condition, electrical system, water, and other elements of the house. Sometimes, the repair and reconstruction of an akiya home can be more expensive and complicated than originally anticipated. Make sure you understand the condition of the home and have a detailed estimate of the repair costs before making a purchase.

2. Location of the house
Location is an important factor when buying a home. Some akiya houses have convenient locations, close to the city center or public transport, while others have remote and remote locations. You need to consider whether the location of the home suits your needs and desires. If you want to be close to the center and amenities, it is possible that buying an akiya house in a remote location is not a good choice.

3. Regulation and support from local government
Local governments in Japan have introduced policies and regulations to encourage people to buy and reuse akiya houses. This includes tax policies, financial assistance, and home reuse programs. Before buying an akiya house, you should learn about the policies and support from the local government to be able to take advantage of these offers.

4. Costs and benefits
One of the main benefits of buying an akiya home is its lower cost compared to newly built homes. However, you need to carefully calculate the total cost, including the purchase price, repair costs, taxes and other fees. Compare this total cost with the actual value of the home after the repair to make sure that buying an akiya home is really worth the investment.

5. Plan of use and future
Before buying an akiya house, consider clearly the intended use of the house and your future plans. Are you planning to stay in this house for a long time or just want to use it as a vacation home or investment? If you plan to use the house productively and be able to make a profit in the future, buying an akiya home can be a good choice.

Ultimately, the decision to buy an akiya home depends on your individual factors and specific situation. Before making a decision, consult a real estate professional or attorney for accurate advice and make sure you understand the risks and benefits involved in buying an akiya home.

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