Why You Should Consider Japan For Your Escape Plan
It's more affordable than you think.
(Note: For information purposes only. Not intended as personalized advice of any sort. Please consult an appropriate, relevant professional.)
In a previous article, we talked about how Escaping from the West is not just a good idea from an investment, lifestyle, spiritual, or security standpoint… it could also mean tremendous long-term savings on cost of living.
When it comes to places that are safe and cheap, it may surprise you to learn that Japan is not only incredibly safe, but also highly economical.
The affordability and safety factor can increase considerably, when you live in the Japanese countryside. However, there are tradeoffs.
Nobita from Japan makes the case to foreigners, concerning his home country:
“But even if I were to choose Japan for my Escape Plan, is it even legal for a foreigner to buy property there?” Yes, according to Toshihiko Yamamoto of Yamamoto Property Advisory:
“Okay, but can I even qualify for a mortgage over there?” It’s not impossible, just rather difficult:
Basically, in order to get a mortgage on a property in Japan, you need to be a Japanese citizen or permanent resident:
Thankfully, residency requirements are becoming easier to obtain in Japan. With a high enough level of education (such as a Masters degree or PhD) and income level (six figures USD), it may be possible to obtain permanent residency in Japan in just over a year:
Until such time, there are unique alternatives to consider, when it comes to Japanese real estate. Due to the country’s declining population, Japan’s many municipal governments have built up databases of abandoned houses that are being priced for little to nothing. They call them “Akiya”:
Some of these Akiya houses are being sold for as little as $500:
Keep in mind that Japanese houses typically have a reputation for being disposable after about 30 years.
Still, old Japanese houses can present a tremendous value-add opportunity, for those willing to invest in a quality fixer-upper, like Tokyo Llama:
And there is still the option to buy a new home in Japan:
Are Japan and the Japanese real estate market right for you? Only you can decide that. Do your research on places you want to go, enlist the help of qualified experts, and start developing a plan for you to Escape From The West.