Friday, September 19, 2003

Not buying the flat this time

I give up an idea of buying the flat I was talking in previous posts..

Main reason is loan matter.
I have already got housing loans from two banks out of four Japanese major banks( Mitsui-sumitomo, UFJ, Mizuho and Tokyo Mitsubishi). One of the rest says minimum 2 years continued service with one company and I am 1 year and 11 month at the moment....The other said suspiciously "how can I tell my boss that surely you are asking home loan for not investment again but for your own home" ......seems the property agent is not good client of him. The second house loan interest is higher(more than 3%) and new banks like Sony bank and Shinsei bank dose not loan for existing home.

Other reason is that this condominium was built in 1978, before major Building Standard code change in 1981, which introduced new earthquake-proof structure standard. And this condominium is not covered by earthquake insurance. Tokyo has been expected periodic strong earthquake for long but not yet come and it is said that this delay will cause stronger. Though I don't mind of rather prefer to reside in old flat which has aged character, I have to think practical responsibility to hold the flat.