1. Budget and Financing
Determine your budget for buying a condo in Tokyo, taking into account not only the purchase price but also associated costs like property taxes, maintenance fees, loan interest and legal registration.

Explore financing options, including mortgages available for foreign buyers, and understand the terms and interest rates.

2. Location and Neighborhood
Research different neighborhoods in Tokyo to find the one that suits your lifestyle, commute, and preferences. Consider factors like proximity to schools, public transportation, shopping, and recreational areas.

3. Property Type
Decide on the type of property you want, such as a condo, apartment, or house. Consider your future needs and whether the property allows for potential modifications.

4. Legal Requirements
Understand the legal requirements for foreign buyers in Japan, including visa status and registration procedures. Consult with a legal expert or real estate agent to navigate the complexities of Japanese real estate law.

5. Real Estate Agents
Work with a reputable real estate agent who specializes in assisting foreign buyers and has a good understanding of the local market. Your agent can help you find suitable properties, negotiate deals, and guide you through the process. Yes, we REDS Team is here to support you!

6. Property Viewing and Inspection
Conduct a property viewing o-site and check for any structural issues, water damage, or necessary repairs. Ensure the property meets your standards and expectations.

7. Contract and Documentation
Review all contracts and documents carefully, including the sales contract, property registration, and any HOA agreements. Ensure you understand the terms and obligations before signing.

8. Financing Approval
Secure financing approval from your chosen lender before finalizing the purchase. Keep in mind that financing conditions may vary for foreign buyers.

9. Taxes and Fees
Be aware of property taxes (fixed asset tax), stamp duties, and registration fees associated with the purchase. Budget for these additional costs, as they can be significant.

10. Resale Value and Future Plans
– Consider the property’s potential for resale and investment value.
– Think about your long-term plans in Tokyo and whether the property aligns with your future goals.

It’s crucial to consult with professionals, including a real estate agent and legal advisor, to navigate the intricacies of buying a condo in Tokyo as a foreigner. Additionally, conducting thorough research and due diligence will help you make an informed decision and ensure a smooth purchasing process.

To make all those things clear to you, please contact us, REDS, at any time!