Vintage Mansions are recommended (Part 2)

Last time, I wrote a column about the definition of vintage condominiums, and in Part 2, I would like to describe the advantages and precautions of choosing vintage condominiums. First of all, I will raise some of the advantages.

1 You can buy it at an affordable price.

→You can buy it cheaper than a new building, so it is possible to renovate it with that budget and remake it into a unique interior that is not found in a newly built apartment.

2 You can actually check the living environment.

→You can check the actual room and fully consider the living environment, such as the view and neighboring residents.

3 It is difficult for the asset value to decrease.

→Those built as luxury apartments at that time are more luxurious than general apartments, such as location, floor plan, and design. In addition, rooms with special conditions such as the top floor and corner rooms are even more popular.

Next is the point to note.

1 The building is old.

→Even if it was the latest equipment at the time of construction, it cannot be denied that it will be old after decades have passed. If it is an exclusive part, it can be replaced, but there are cases where it is difficult to replace.

2 Compared to general apartments, the purchase price is high.

→Luxury apartments are built more luxuriously than general apartments in to build and facilities, so even if they are used, they are reasonably expensive.

The world is full of various things, not only condominiums, but also land, buildings, cars, furniture, etc. Regardless of the new product, by focusing on the contents and looking for it, you can find a different value than before.

The biggest attraction of vintage apartments is that even if it is a property that was not available in a new building, it is possible to buy it within a budget if it is second-hand, and it is "in other words, it does not lose much" with less loss of assets than new buildings. In addition, if you well determine the price decline rate at the time of purchase and the timing of renovation, it is possible to increase the asset value through renovation.

In an easy-to-understand analogy, there are old cars (vintage cars). Cars with high rarity value are worth it on their own, but when it comes to well-maintained vintage cars, they are surprisingly expensive. However, it should never be an expensive purchase for those who know its value. Many people who ride old cars have a long-term attachment to them, so it is actually more economical than changing new cars one after another.

If you buy it easily just because your home is cheap as well, you can only sell it at a lower price than the market price when you decide to sell it, or there are many cases where the sale itself does not proceed as you want because it is not popular. I think some people think it doesn't matter because they will continue to live there, but housing is the most expensive purchase in a lifetime. In order not to make unexpected losses, we recommend that you make a decision after clearly identifying the original value, not just the new, the old, or the price.

photo by kawaguchi Apartment, Tokyo 1964

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