About 3 years ago I ended up buying my first house. Right on the water, minutes from great year round surf and dirt cheap. I always thought Japan's real estate was ridiculously expensive... but not used houses outside of the big cities. Values go south right from the start and the houses value approaches 0 at around 30 years. The land still retains value, but even this has been in decline since the property bubble burst in the '90s.
Before
After
I bought it using mostly dollars for about $58,000 and put some work into it. Really enjoyed being out of the city and close to the water. Occasionally monkeys would visit and steal vegetables from our neighbors garden.
I was travelling 30 minutes into town for work everyday, my wife was doing the same and even the day care for Zion was in town. After 3 years of doing this we decided it was more practical to live in town and decided to sell the house.
Miyazaki Coastline
Private beach near the house
We had a few bites recently trying to sell it ourselves but no success yet. A friend of a friend... almost... but then he got divorced. A local who is renting near the house... but then her grandma backed out of giving her $80,000. And most recently the old man vegetable stand owner looking to buy something near his shop. He ended up buying a mansion down the road with a pool and helicopter port. The house has been for sale for around 10 years, the same amount of time the previous yakuza loan shark owner has been in jail. Someone forget to tell the old man the yakuza guy is getting out this year.
We decided to call in the big guns and put it up with the real estate agents. Next month some surfers from Kobe and Osaka are gonna check it out so hopefully they can close the deal for us.
My site I set up trying to sell the house http://www.flickr.com/photos/englishuchiumi/
Some 360 camera views http://www.miyazaki-jutaku.com/web_openhouse/31017/
With the awesome exchange rate we're looking at making a nice profit. Something we might rollover into a house in town or more optimistically thinking, a place to call home in Hawaii.