DoctorP
先輩
- 3 Jun 2004
- 2,193
- 93
Price would be about the same, so why not build it "American" style...then if you transfer you can rent it to someone. 10 yrs and the house is paid off. Do it while you are still active duty!
I'd like to buy a house in Okinawa...
- Thread starter Willard Boyd
- Start date
Price would be about the same, so why not build it "American" style...then if you transfer you can rent it to someone. 10 yrs and the house is paid off. Do it while you are still active duty!
Good post and good information! I'm planning on going down to Okinawa to buy a house/apartment complex and rent it out to the military so it gets paid quickly. I'm also thinking about buying an apartment complex. As you might know, the Americans probably pay 2-3 times as much as a Japanese national. I'm currently living in Tachikawa, Japan. It's so freakn expensive up here compared to Okinawa. I'm thinking of sending the family there to get settled in while I finish my tour at Yokota.
AroundTheWorld
Devourer of Souls
- 25 Jun 2008
- 89
- 0
I have heard so many nice things about Okinawa. I think living there would be a lot more peaceful than living in Florida. ._.
Question on some land in Okinawa
Wow this is great information and thanks for all the help everyone. So here is my situation, spent 4 yrs in AF on Okinawa, speak some Japanese, my wife is Japanese from Miyazaki, but went to school at Ryukyu Daigaku. I separated, came back to the states and got my MBA in international business, working back here and saving money, dreaming of my future return to Okinawa. I would appreciated any advice that you might have on the following plans. My wife is finishing her masters degree and it looks like she might have a job at Meio University in Nago in a couple of years which is great since that could bring in some money to pay the bills while I get set up. My dream is to set up a relaxed diving minshuku where people can some and stay at individual cabins, leaving my actual home as a separate building, and also charging for scuba/mt. biking/hiking/fishing excursions. I know it might take a while to get there but what I would like to do is by a large plot of land and build a small house for us and then grow into the rest as we get settled and I get my Japanese skills back up. My wife has many close Okinawan friends and when we were last back there we looked at a plot of land that one of her friends owns and felt like they were basically giving us the "local" insiders price since it was very low. It was a little bit north of the main part of Onna City, around 1/2 way between Onna and Nago. Then just a short drive up into the Mtns/Jungle area. It was about 1-1.5 US ACRES!!! surrounded (actually overgrown by jungle trees) and I think I could get the whole thing for under $140k. Some questions:
Is it just me or does this seem like an unbelievably low deal?
Would it be crazy expensive to get a house with services in this rural area?This is kind of remote but there is one more house higher up the hill that backs up against jungle and it is only 2 mins away from the small village center.
My wife and son still have their offical japanese residence but it is in Miyazaki... could we still by something in Okinawa?
I was thinkging about just buying even just as an investment since it is so cheap and that area is absolutely beautiful and I think it is destined to skyrocket in value... think prime resort areas in Hawaii.
I have a very good paying job here with extra cash but still wonder if me and my wife could get a Japanese loan while we are here in America still?
I think the best route would be to buy it up, build a smallish house on it and then rent it Americans to help pay it off until we move there in a couple of years... any thoughts.
It all seems like such a great idea but I am little bit skeptical since I don't know enough about this market (many Japanese homes go down in value not up, is it landslide prone, it is pretty overgrown so what would it cost to pull out the overgrowth) Plus now I have to pay for this house here and one in Okinawa and hope I don't lose my job, but I should be able to take quite a bit of money out of this house when we head back to Okinawa.
Okay so I rambled on way to much but one more question... I was considering signing back up for the AF reserves so that I could work a little bit when I first get back there, also get my clearance back for potential contractor opportunities on base... any thoughts?
Thanks for any directions, I would especially be inerested on your thoughts about the pricing in the Onna area.
Thanks,
Wow this is great information and thanks for all the help everyone. So here is my situation, spent 4 yrs in AF on Okinawa, speak some Japanese, my wife is Japanese from Miyazaki, but went to school at Ryukyu Daigaku. I separated, came back to the states and got my MBA in international business, working back here and saving money, dreaming of my future return to Okinawa. I would appreciated any advice that you might have on the following plans. My wife is finishing her masters degree and it looks like she might have a job at Meio University in Nago in a couple of years which is great since that could bring in some money to pay the bills while I get set up. My dream is to set up a relaxed diving minshuku where people can some and stay at individual cabins, leaving my actual home as a separate building, and also charging for scuba/mt. biking/hiking/fishing excursions. I know it might take a while to get there but what I would like to do is by a large plot of land and build a small house for us and then grow into the rest as we get settled and I get my Japanese skills back up. My wife has many close Okinawan friends and when we were last back there we looked at a plot of land that one of her friends owns and felt like they were basically giving us the "local" insiders price since it was very low. It was a little bit north of the main part of Onna City, around 1/2 way between Onna and Nago. Then just a short drive up into the Mtns/Jungle area. It was about 1-1.5 US ACRES!!! surrounded (actually overgrown by jungle trees) and I think I could get the whole thing for under $140k. Some questions:
Is it just me or does this seem like an unbelievably low deal?
Would it be crazy expensive to get a house with services in this rural area?This is kind of remote but there is one more house higher up the hill that backs up against jungle and it is only 2 mins away from the small village center.
My wife and son still have their offical japanese residence but it is in Miyazaki... could we still by something in Okinawa?
I was thinkging about just buying even just as an investment since it is so cheap and that area is absolutely beautiful and I think it is destined to skyrocket in value... think prime resort areas in Hawaii.
I have a very good paying job here with extra cash but still wonder if me and my wife could get a Japanese loan while we are here in America still?
I think the best route would be to buy it up, build a smallish house on it and then rent it Americans to help pay it off until we move there in a couple of years... any thoughts.
It all seems like such a great idea but I am little bit skeptical since I don't know enough about this market (many Japanese homes go down in value not up, is it landslide prone, it is pretty overgrown so what would it cost to pull out the overgrowth) Plus now I have to pay for this house here and one in Okinawa and hope I don't lose my job, but I should be able to take quite a bit of money out of this house when we head back to Okinawa.
Okay so I rambled on way to much but one more question... I was considering signing back up for the AF reserves so that I could work a little bit when I first get back there, also get my clearance back for potential contractor opportunities on base... any thoughts?
Thanks for any directions, I would especially be inerested on your thoughts about the pricing in the Onna area.
Thanks,
Shouganai
先輩
- 19 Feb 2008
- 60
- 1
Check out the foreclosed property market
You should investigate whether there is foreclosed property in Okinawa. Being Okinawa, maybe not. I dont think that law sounds so cheap. Land is not so expensive outside the major cities.Do your research because foreclosed land can be up to 50% cheaper in such areas because no bidders. Do a Google search for "foreclosed property Japan". If you are interested in diving, you should also consider the Philippines. Its only the south which is a war zone. Supposed to be good diving in the Philippines, but then maybe your wife likes the Japanese life. I must say I see potential for English schools in the Philippines. The Koreans already learn English here.
You should investigate whether there is foreclosed property in Okinawa. Being Okinawa, maybe not. I dont think that law sounds so cheap. Land is not so expensive outside the major cities.Do your research because foreclosed land can be up to 50% cheaper in such areas because no bidders. Do a Google search for "foreclosed property Japan". If you are interested in diving, you should also consider the Philippines. Its only the south which is a war zone. Supposed to be good diving in the Philippines, but then maybe your wife likes the Japanese life. I must say I see potential for English schools in the Philippines. The Koreans already learn English here.
Yeah I would love the PI too and actually have old retired AF buddies living back down there and running dive shops... all at an order of magnitude cheaper than Japan too.... but alas we are in love with the Ryukyu people, food, drink and culture and also having a brown haired dictionary living with me means we have to stick with Okinawa..... with frequent trips to the PI
1 year later and attempting to buy once again.
I've had alot of time now to weigh out the pro & cons of living in the country/beach community. We had been interested in both Yomitan and Nanjo, but we decided it would be better to buy somewhere more central. (closer to schools and employment), At least until my daughter has finished with school. Anyhow,, we found a beautiful home in Okinawa City that is perfect for us. I made the deposit with the fudousan and am now offically in contract. Just waiting to hear back from Shinsei bank on my loan application.
I finally filed for my eijuuken (PR Visa) but am still waiting for the reply from Shinagawa. This can take some time. This was the only reason I didn't try a local bank.
However, after doing some research, I found that Shinsei has a much better deal going on than Ryukyu or Okigin. As long as you don't mind the inconvinence of having to visit Tokyo one time for the loan interview/finalization.
Will update this thread as my situation progresses.
I've had alot of time now to weigh out the pro & cons of living in the country/beach community. We had been interested in both Yomitan and Nanjo, but we decided it would be better to buy somewhere more central. (closer to schools and employment), At least until my daughter has finished with school. Anyhow,, we found a beautiful home in Okinawa City that is perfect for us. I made the deposit with the fudousan and am now offically in contract. Just waiting to hear back from Shinsei bank on my loan application.
I finally filed for my eijuuken (PR Visa) but am still waiting for the reply from Shinagawa. This can take some time. This was the only reason I didn't try a local bank.
However, after doing some research, I found that Shinsei has a much better deal going on than Ryukyu or Okigin. As long as you don't mind the inconvinence of having to visit Tokyo one time for the loan interview/finalization.
Will update this thread as my situation progresses.
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Shinsei loan denied.
No explanation why, and no matter how many times my wife or I called, or how polite we were to them over the phone, the good people at Shinsei would not give a reason for denying my loan.
They only repeated that "their policy prevents them from giving any details."
I was however able to gather the below information with the few calls that my wife and I did make.
Nationality (USA) - "Not an issue"
Visa status (3 year Spouse Visa, having applied for permanent residency) - "Not an issue."
Work status (5 year contract employee with a Tokyo employer) - "Not an issue."
Annual salary - (sufficient) "Not an issue."
Location of house (Okinawa) - "Not an issue."
Size of loan/deposit - "Not an issue."
Credit History - "Not an issue." (we plan to check this with the 3 credit companies just to be sure)
I'm very surprised by this decision. I have been a customer of Shinsei's for 5 years, having all of my wages paid into my account on a monthly basis. It is very easy for them to check my account and see that I'm an upstanding consumer.
Needless to say, I'll be closing my account with them just as soon as I find a suitable replacement. HSBC maybe?
Any other recommendations? I hear that Tokyo Mitsubishi sometimes gives loan to those without permanent residency. I think I will try them next..
No explanation why, and no matter how many times my wife or I called, or how polite we were to them over the phone, the good people at Shinsei would not give a reason for denying my loan.
They only repeated that "their policy prevents them from giving any details."
I was however able to gather the below information with the few calls that my wife and I did make.
Nationality (USA) - "Not an issue"
Visa status (3 year Spouse Visa, having applied for permanent residency) - "Not an issue."
Work status (5 year contract employee with a Tokyo employer) - "Not an issue."
Annual salary - (sufficient) "Not an issue."
Location of house (Okinawa) - "Not an issue."
Size of loan/deposit - "Not an issue."
Credit History - "Not an issue." (we plan to check this with the 3 credit companies just to be sure)
I'm very surprised by this decision. I have been a customer of Shinsei's for 5 years, having all of my wages paid into my account on a monthly basis. It is very easy for them to check my account and see that I'm an upstanding consumer.
Needless to say, I'll be closing my account with them just as soon as I find a suitable replacement. HSBC maybe?
Any other recommendations? I hear that Tokyo Mitsubishi sometimes gives loan to those without permanent residency. I think I will try them next..
Apparently after August 1st nobody will be able to move off-base if you do not already live off base. This is only for accompanied.
I have been trying to figure out where I want to live and this may make a ton of the houses go up for sale if it is true. I don't see a bunch of landlords keeping houses that they cannot rent once the current tenant moves out.
I have been here for 7 year and will probably be medically discharged/retired within a year. I am looking for a GS/Contracting position once I move out.
To get to the 20 Jul 2009 article: Google "okinawa no more living off base"
It is a Marine Corp times article.
I have been trying to figure out where I want to live and this may make a ton of the houses go up for sale if it is true. I don't see a bunch of landlords keeping houses that they cannot rent once the current tenant moves out.
I have been here for 7 year and will probably be medically discharged/retired within a year. I am looking for a GS/Contracting position once I move out.
To get to the 20 Jul 2009 article: Google "okinawa no more living off base"
It is a Marine Corp times article.
Do you and your wife get new jobs in Okinawa? Is it Seishain or not?
It is not impossible, but still difficult for contracted workers to borrow money.
I know some are highly skilled professionals and make much more money than an ordinary salayman, but it seems to me you prove the instability by yourself unless you are a super SOHO guys or you've already got a job in Okinawa.
Yes I had a job when I arrived. Keyakushain (Full-time Contract Staff) for a large multinational.
All banks prefer dealing with shain (Full-Time Direct Hire Staff), but in the end my employment status didn't hurt me. The major obstacle for me has been my Visa Status. Unless your wife is Okinawan (and working I presume), all banks in Okinawa require that you have PR. (Permanent Residency.)
I finally got my PR in October. Soon after we found a nice used house in Yomitanson. 49 tsubo house/170 tsubo land. (100% financed through Okinawa Ginko)
Its been a wild ride with plenty of discouragement around every bend, but it is possible. Just please save yourself the pain and wait until you get PR status. That is the major hoop you'll need to jump through. (Not sure what the criteria is for SOFA sponsored people)
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Shouganai
先輩
- 19 Feb 2008
- 60
- 1
Buying foreclosed property in Japan
Anywhere in rural areas away from a major city is really cheap because of depopulation. I would have to say the exception are those rural areas which have their special appeal, like ski resort areas. I personally wanted to be close to the city, so I wanted a trade-off between city and country. I went to Hanno, Saitama because easy access to Tokyo, but also nice mountain valleys. Japanese beaches are not so nice I think...but I did see very cheap properties on the coast of Shizuoka, though the railway was close by - good and bad point. Small rural village, but slow local train to city,so expensive and tedious. The mountain areas are less exposed to earthquake risk because they lack a large sediment pile.
Anywhere in rural areas away from a major city is really cheap because of depopulation. I would have to say the exception are those rural areas which have their special appeal, like ski resort areas. I personally wanted to be close to the city, so I wanted a trade-off between city and country. I went to Hanno, Saitama because easy access to Tokyo, but also nice mountain valleys. Japanese beaches are not so nice I think...but I did see very cheap properties on the coast of Shizuoka, though the railway was close by - good and bad point. Small rural village, but slow local train to city,so expensive and tedious. The mountain areas are less exposed to earthquake risk because they lack a large sediment pile.
- 15 Mar 2002
- 16,758
- 2,298
If she is Japanese have her google in Japanese and she should find plenty of information.
Robert Copeland
Registered
- 27 Apr 2019
- 1
- 0
DoctorP - I just joined this forum and was reading some of your responses. I, like others, am seriously considering purchasing a home in Okinawa. Do you know of anything for sale in the Chatan / Isa area, or a reputable real estate office that I could work with? My wife's family lives in that area just south of Miahama and Araha Beach. My personal email address is [email protected] I would appreciate any info you can share. Thanks.
