Should I buy or rent a home in Kamakura?

If you have not spent a lot of time in Kamakura, you should rent before even thinking about buying. We asked expats there about the buy vs. rent decision...

"The decision to buy or rent a home in Kamakura, largely depends on your personal circumstances, financial situation, and long-term plans. If you plan to stay in Kamakura for a long period, buying a home could be a good investment. Owning a home allows you to build equity over time and provides a sense of stability and permanence. However, buying a home also comes with significant upfront costs, including a down payment, closing costs, and property taxes. It also requires ongoing maintenance and repairs, which can add up over time. If you're not ready for these financial commitments, renting might be a better option. Renting a home in Kamakura offers more flexibility, especially if you're unsure about your long-term plans. It's easier to move if you need to, and you won't have to worry about selling a property if you decide to leave. Renting also means you're not responsible for maintenance and repairs, which can save you time and money. However, renting doesn't allow you to build equity, and you may face annual rent increases. You also have less control over your living space, as you'll need your landlord's permission to make any significant changes. In conclusion, whether you should buy or rent a home in Kamakura depends on your financial situation, how long you plan to stay, and your personal preferences. It's important to weigh the pros and cons of each option before making a decision," commented one expat who made the move to Kamakura, Japan.

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