Hi 日本Finance community,
We are considering buying a house. We know the owner and will do a direct trade with them – no need for agency. I understand we at least need a juristic scrivener. So that way I guess we will save agency costs and VAT.
My questions revolve around ownership of the house and financing of the house.
As for ownership- is it better to co-own the house 50/50 between my wife and I, or better one of us owns it? Probably in all reality I will pay most of the house, but co-ownership is fine if it has advantages. Either way in the event of a divorce (not planned!), such asset would be split I suppose.
What are the pros and cons to paying for the house in cash vs. taking a loan? I am self employed and my income is irregular i.e. I can get paid well, and then there maybe months of no income. Would such situation affect my prospects for getting a loan? I suppose there may be tax benefits in using a loan to finance the house? Anything else I need to consider?
As for source of funds, I would probably transfer a good chunk internationally to pay for the house. The funds are from investments, and I will pay capital gains in Japan so there should not be anything shady about these funds. But if say I need to transfer 1500 man or maybe more, is it straightforward to do (with Sony Bank for instance), or are there some things I need to know before going that way? I realize an agency could help with that, but we are doing it by ourself, so wonder if its easy to do or anything to keep in mind here.
These were a few questions I have – wonder if anyone has been through similar process and could share heir views? Much appreciated.
by rightnextto1