Hi,
We are a couple in our mid-20s with three kids currently renting in Tokyo and getting a bit desperate about the housing market so any advice would be most welcome. As rent keeps rising and it has been difficult to find places large enough, we have been playing with the idea of starting to save for a house.
Our family finances are the following:
JP husband earns about 3.250.000
I (PR) earn about 8.400.000
With currently very limited savings and about 3.000.000 invested in a fund abroad that I am hoping to grow
Are banks usually more hesitant about lending to “younger” clients ? Should we wait until our 30s?
Is there an issue with the foreign spouse out-earning the Japanese one? Shared loan or rather on one person ?
How many percentage of a down payment should we usually aim for?
And more broadly is it still ‘worth’ buying a house in Tokyo at all esp. considering we may have to sell should we move back abroad at one point? Or would it be better to keep renting and invest our money? Neither of us is currently doing nisa or ideco so I realise we have some room for improvement.
Thank you very much for your advice!
by UpNoge3432