Property in upper (Western) Misorano

[Critta 0]

Some friends and I are looking to purchase a 3-4 bedroom house in the upper part of Misorano.

 

I've looked at a number of web pages but have been warned by a few locals that some of the operators targetig foreigners are not to be trusted.

 

Does anyone have any experience with purchasing a property in Hakuba and know of any places that may be available for sale in the upper Misorano area?

 

Any help greatly appreciated.

[Yuki's Passion 1]

not that Mirorano is bad, but why limit it to only there?

[stillnoprogress 0]

i own some property in Misorano and to say that the operators targeting foreigners are not to be trusted is absurd. they would have to target foreigners if they want to stay in business. Try Sakura or Hakuba Real Estate or PM me. There are definitely a few places for sale there.

[Critta 0]

SNP,

 

Hakubarealestate seems pretty sound and has been recommended.

 

If you know of any places though - I'm ears, as they currently don't have anything listed (nor do Sakura).

[Fattwins 0]

The house that I think they are trying to buy is a good build but.....

the apartment beside it shines a huge bright light into the place. I showed it to my wife and she said no way would she consider buying it.

[tripitaka 0]

Critta,

 

Regardless of your agent, I don't know how easy it is to get independent property valuations in Japan (would you buy anything without one). Even if you can, I would always err on the side of caution. I've seen many foreigners walking around giddy with excitement about prices, potential, etc., but Japan is not a place to invest if you can't stomach the idea of falling property values. In my opinion, many foreigners have been burnt, even if they don't know it yet.

[NoFakie 45]

In Hakuba, you get a lot of snow and not very much sun near the mountain. Maybe no views either.

 

I don't think the "operators" are particularly dodgy, but most old houses in Japan are bought and sold based on very basic information. Its the same for Japanese people too.

[Critta 0]

What are your preferred locations Creek Boy?

[Critta 0]

Fattwins,

 

When you say "they are trying to buy" do you mean the agents or me?

 

I've not seen anything advertised yet that I'd consider buying.

 

I take it there are a few developers getting about with plans of buying up parcels and building canadian styled log cabin "honeymoon" properties.

[stemik 14]

 Originally Posted By: Critta

I take it there are a few developers getting about with plans of buying up parcels and building canadian styled log cabin "honeymoon" properties.

I dont think so

[Fattwins 0]

I thought you were talking about a house under negotiation. It is very hard to sub divide in Hakuba. The rules dont allow for apartments or much sub division of the land. You can sub divide land but it take money and lots of paperwork.

[stillnoprogress 0]

there is a place on Kita Goryu Dori (my street) that is for sale, but i think that's the one FT is talking about. i haven't looked at it but my friend shared FT's wife's opinion. Hakuba Real Estate has a vacant lot for sale in Echoland on their website, but you should just give them a call to find out if they have anything they haven't listed yet (and Sakura too). There seem to be a few places in Meitetsu that look pretty good (Meitetsu ain't too much different than Misorano but it's a bit further from the Master Braster i suppose).

 

To be honest it seems like real estate transactions in Hakuba are largely on hold until the snow clears. It's hard to get a good look at foundations, plot boundaries, etc. I would hold out a few months and see if anything better comes to market...snow's gonna be gone in a few months anyway.

[TJ OZ 0]

There seem to be a few places in Meitetsu that look pretty good (Meitetsu ain't too much different than Misorano but it's a bit further from the Master Braster i suppose).

 

Meitetsu is a great area with lots of nice houses however you really do require your own car to get around. On the investment/rental side of things I would choose Misorano/Echoland as you are within walking distance of many bars and restaurants and the shuttle bus for the ski areas run up the main strip.

[stillnoprogress 0]

If you plan on owning a house in hkb the extra dough to buy old beater is a drop in the bucket

[stemik 14]

ha...Kita Goryu St...thats on the dog walking rounds...yes the house is really close to the bright apartments...

Stillnoprogress - how far up Kita Goryu do you live?

[Fattwins 0]

You have met each other Stemik. he owns the big wood house on the right side of the street.

[stemik 14]

still non the wiser

[Fattwins 0]

Ill tell you in person.

[stemik 14]

well i hope they are members of the Misorano Residents Association

[Critta 0]

I agree with the issues regarding accessability.

 

What's a 10yr old hiace van (or similar) worth to buy and run per annum (insurance/ rego etc)?

 

The current finnacial market suggests rates will stay down in the near term - who knows what may happen over the next 5 years though? To make it work as a foreigner, rental income is an absolute necessity and this has me questioning two things:

 

1. How difficult is it to have an old house approved to rent out as holiday accomodation.

2. How busy is the shoulder/ summer season (ie how many occupancy weeks would you expect to get out of the year).

 

I reckon skiers would travel to use it for 8 weeks of the winter. The summer would be reliant upon locals, and there are a lot of weeks left in the year!

[tripitaka 0]

 Originally Posted By: Critta

I agree with the issues regarding accessability.

What's a 10yr old hiace van (or similar) worth to buy and run per annum (insurance/ rego etc)?

The current finnacial market suggests rates will stay down in the near term - who knows what may happen over the next 5 years though? To make it work as a foreigner, rental income is an absolute necessity and this has me questioning two things:

1. How difficult is it to have an old house approved to rent out as holiday accomodation.
2. How busy is the shoulder/ summer season (ie how many occupancy weeks would you expect to get out of the year).

I reckon skiers would travel to use it for 8 weeks of the winter. The summer would be reliant upon locals, and there are a lot of weeks left in the year!

All those questions would probably best be answered by a property manager or agent.

Also, when you talk about rates, do you mean interest rates in Japan or Australia? You won't be able to borrow from a Japanese bank as a non-resident.

[NoFakie 45]

Buying a car without a gaijin card is possible, but is not easy. You'll not do it by email, that's for sure.

 

1. Getting approval for a rental cottage (kashi besso) seems very easy.

 

2. Offseason will be very slow, I would have thought.

 

Meitetsu is much more residential than Misorano, but personally I prefer it. I think its better maintained on the whole. The southernmost road where Mick built the Powderhouse has lots of sun and great views too.

[Fattwins 0]

In the dense forest also equals mozzis!

 

You will know before you buy if your house can be rented or not.

[stillnoprogress 0]

 Originally Posted By: Critta

I agree with the issues regarding accessability.

What's a 10yr old hiace van (or similar) worth to buy and run per annum (insurance/ rego etc)?

The current finnacial market suggests rates will stay down in the near term - who knows what may happen over the next 5 years though? To make it work as a foreigner, rental income is an absolute necessity and this has me questioning two things:

1. How difficult is it to have an old house approved to rent out as holiday accomodation.
2. How busy is the shoulder/ summer season (ie how many occupancy weeks would you expect to get out of the year).

I reckon skiers would travel to use it for 8 weeks of the winter. The summer would be reliant upon locals, and there are a lot of weeks left in the year!

Critta - used cars in Japan are pretty much free - it's ntg like OZ. You can pick up a decent used car for $1000-$2000 no probs. Inspection costs about $1000/annually. you will have to pay acquisition tax, tonnage tax, and auto tax, but in all honesty a car is the absolute least of your worries (and your costs) if you plan to own and operate a japanese house from Australia. Depending on how much you intend to use the place you can just rent a car in Nagano.

Regardless of the shoulder season i reckon yields in Hakuba are around 6-8%. Better than anything in Australia.

Regarding rates. My personal view is that Japanese rates are headed nowhere and Aussie rates are soon to be lower, but you will NOT be able to get yen financing as an aussie resident so that's out of the question. Re aussie financing, it's possible but i personally wouldn't finance in aussie for japan unless i had no other choice of the current rate environment and severe lack of capital appreciation in japan. On the other hand, the yield is better than anything you'll probably find in OZ. It's a predicament.

Dude, the thing you need to worry about is logistics. how do you intend to pay your bills? Despite japan's obvious tech superiority, paying bills on the net doesn't exist. Sometimes they can direct debit from a japanese bank a/c but some guys wont. Taxes guys surely wont. In fact they wont even mail your bills to OZ. You WILL need to hire someone on the ground in Hakuba (if you PM me i can make some good suggestions).

[indosnm 0]

Critta.

Depending on the van. If you want a Super Gl hiace 4wd then you might be looking at about around a million yen (giv or take a 100 thou)

If you just want a cheaper people mover 2WD then much much cheaper.