First-time buyer in Osaka: cash buffer after a ¥144,600,000 purchase

[asha.chase]

I’m considering a 2-bed serviced apartment in Osaka for ¥144,600,000. After the deposit and estimated closing costs, I’d have about ¥2,142,000 left.

That remaining cash would need to cover the emergency fund, moving, any immediate work from the inspection, furniture, insurance excess and the first mortgage payment. Service charges also make me wary of cutting it too fine. How would you divide the buffer? I’m happy to delay furniture and buy below my maximum rather than have every minor issue become a crisis.

 

[TrueRoof]

I wouldn’t divide the ¥2,142,000 until you know which costs are genuinely due right after closing. First set aside the first mortgage payment, moving costs, insurance excess and any confirmed service charges. Then ring-fence inspection items that cannot safely wait; furniture comes last.

Also ask what the apartment operator or building arrangement covers. A roof issue may not be your individual repair, while an in-unit fault could be. If the remaining emergency fund would be too small after those known items, a lower purchase price seems more sensible than assigning optimistic percentages.