Tokyo first-time buyer: is ¥1,224,000 enough cash after closing?

S

SimpleLane

First-time buyer
Established
The immediate constraint is the cash remaining after completion: roughly ¥1,224,000. That would be after the deposit and estimated closing costs on a 5-bed Tokyo townhouse priced near ¥81,860,000.

I do not want to commit that balance to furniture or cosmetic work and then discover that the first mortgage payment, moving costs, service charges or an urgent repair were missed. Furniture can wait; a failed essential cannot. How much would you keep untouched, and which handover expenses should I confirm before deciding? The school catchment is important, but not enough to justify leaving no room for surprises.
 
I would treat most of that ¥1,224,000 as untouchable emergency money, not as a moving or furnishing budget. Furniture can arrive gradually; leaks and failed essentials cannot wait. Before deciding, list the first mortgage payment, moving costs, insurance excess and any service charges, then add only inspection items that genuinely need doing straight away. If those known amounts consume much of the balance, the purchase looks stretched.
 
One missing fact: does the estimate already include every payment due around handover, or only the main closing costs? Also, is the catchment essential, or could a cheaper townhouse nearby still meet the school requirement? That distinction may decide whether the compromise is worthwhile.
 
I would not automatically reject it solely because the remaining cash looks small relative to the purchase price. The inspection findings matter more than a neat buffer percentage. A sound property with cosmetic work is different from one needing several urgent repairs.

Still, do a handover-month budget before committing: ring-fence the first mortgage payment and emergency fund, price the move, confirm insurance and recurring charges, and postpone nonessential furniture. Then stress-test one plausible repair. If that already pushes the balance near zero, step down in price.
 
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