Buying a newly built detached house is one of the biggest purchases in life. Even so, many people end up regretting the decision after the purchase. Here, we explain seven key precautions you should know to avoid regret later.
What options are available for buying a newly built detached house?
- Spec home：The building and land are sold as a set, which makes financial planning easier and reduces the number of procedures
- Custom-built home：Offers greater freedom in design and layout, with the reassurance of being able to confirm the construction process
What are the seven precautions you should know when buying a newly built home?
1. Understand costs beyond the property price
In addition to the purchase price, there are incidental costs equal to about 5% to 10% of the property price, including brokerage fees, registration and license tax, stamp tax, loan handling fees, real estate acquisition tax, and moving expenses. Be sure to also account for ongoing costs such as fixed asset tax and city planning tax.
2. Choose a trustworthy real estate company
It is important to choose a company with professional expertise that makes recommendations with the customer’s interests in mind, rather than simply trying to sell.
3. Do not judge based on features alone
Some features, such as a bathroom television or mist sauna, may go unused in everyday life. Choose equipment and features that fit your family’s actual lifestyle.
4. Simulate daily traffic flow in concrete terms
Picture the busy times before commuting to work or school, and check in advance whether the wet areas and living room will be practical to use.
5. Consider the cost of maintaining the garden
Keeping a garden beautiful requires continuous effort and ongoing expense, including weed control and pest management.
6. Request an independent third-party inspection
Arrange a quality inspection with an inspection company that has no conflict of interest with the builder. Some companies may neglect quality control in an effort to cut costs, so this is a prudent safeguard in case problems arise.
7. Anticipate future lifestyle changes
Plan a layout that can adapt to changes in life stages, such as having children, caring for parents, or retirement.
Frequently Asked Questions (FAQ)
Q. Which is better, a spec home or a custom-built home?
If you want to keep your budget and effort under control, a spec home may be a good fit. If you want a home tailored to your preferences, a custom-built home is more suitable. Choose based on the balance between your lifestyle and budget.
Q. How much does a third-party inspection cost?
Generally, it costs around 100,000 to 300,000 yen. If you think of it as buying peace of mind for the building, it offers sufficient value as an investment.
Q. Are there ways to reduce incidental costs when buying a newly built detached house?
Yes. Effective approaches include negotiating brokerage fees, being strategic about your moving schedule, and making use of mortgage tax deductions and other relief measures.
