Advisor for RENOVATION, REPAIR, REAL ESTATE and CONSTRUCTION for foreigners living in Japan

Which to choose, a newly built condominium or a second-hand apartment?

Comparison “A newly built condominium” and “A second-hand apartment”

新築マンション[SHINCHIKU MANSION]: Newly built condominium
Good point(s)
  • Everything is brand new. No one lives there yet. The Japanese tend to like things that are relatively new.
  • It could be equipped with a full range of common facilities such as a kids’ room or gym
Bad point(s)
  • Since the developer starts to sell them before the building has been completed, you may have to decide to buy without actually looking in the room. (Room specifications and atmosphere can be found in the model room.)
  • You never know what the view or the sunshine or the neighbors will be like.
  • Much expensive than a second-hand apartment.
中古マンション[CHUKO MANSION]: A second-hand apartment
Good point(s)
  • Cheaper than a newly built condominium
  • You can check the views and sunshine or the neighbors will be like in advance.
Bad point(s)
  • Even if you renovate the private areas, the common areas won’t be new.
  • There are only a limited number of banks that allow you to borrow for renovation costs as well with a mortgage.