Kyoto City offers half of the renovation costs up to 2 million JPY on designated traditional townhouse properties in the city under its Machizukuri Fund.
Hyogo Prefecture’s Kominka Saisei Sokushin Shien Jigyoh initiative offers up to 5 million JPY towards the renovation of traditional farmhouses over 50 years old, and even more if it is a designated cultural monument, with a preference for businesses, especially those related to tourism.
The government announced in November 2021 that the current tax relief scheme (webpage in Japanese only) for renovations aimed at improving energy efficiency or quake resistance would be extended until the end of 2023, with significant income tax deductions for those who self-finance their renovations.
might be hard to buy farmland and live true ecovillage style due to special permission required
- While rules governing the purchase of property and land in Japan tend to be straightforward, farmland (農地 nōchi) is something of an exception. To acquire farmland for the purpose of farming, you need to be a registered farmer, which in turn requires that you be a resident of Japan. You also need to acquire special permission from the Agricultural Affairs Committee, which involves submitting a detailed business plan as well as the plans for any housing development, among many other bureaucratic hurdles.
helpful japanese key words when reading real estate documents — starting page 31
nippon tradings international — can employ them as an intermediary between real estate agent (japanese) and foreign buyer (us)
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they deal w all japanese communication w the agent, search for properties, arrange inspections, help w due diligence, etc
- (michelle has emailed him from the [email protected] account)
page 36 for key questions to ask realtor:
high recommendation to arrange house inspection by professional building inspector
- This costs in the region of 50,000 JPY to 70,000 JPY for a regular (basic) inspection, to over 100,000 JPY for a more detailed one.
michelle contacted daniel on insta (page 37 of guide) who bought an old kominko to turn into an art residency (110 year old house)
- hase: https://hasehouse.com/home/stay/
- “The house, property, and 14 acres of mountain property was 4.5 million JPY. The house needed big renovations and was not move in ready.”
check contract for clause for hidden defects
fees of house purchase on page 46 (invoice)
may be able to negotiate as much as 15% or 20% off list price if paid in all cash (more bargaining power for dealing w realtors)
saving on transaction fees: can use wise to send money from bank account to japanese bank w preferential rates of conversion / low service fees
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can also get debit card which also saves money when withdrawing from ATMs
in order to purchase, key document you need is affidavit (document with key ID details and primary home address in country of residency, issued and signed by notary public in home country)
- can do this in advance in home country but some consulates in japan do offer this service: affidavit is valid for 3 months from date it is issued
- other documents starting page 48 - like “obligation of notification due to foreign exchange and foreign trade control act” within 20 days of purchase
kawazu seems like decent place (close to yugawara too)
- accessible from tokyo as well (2.5 hours, regular direct trains from shinjuku)
- might as well go to nagano at this point?
- https://cheaphousesjapan.com/buying-a-cheap-house-in-japan-interview/
research utility bill costs as well
- for 1 person, budget approx 13,000 JPY / month for utilities (like $100)
taxes are generally like 2% a year so make sure to account for that in recurring / maintenance costs
look into home insurance costs (ie fire or earthquake protection)