#Japan #Shibuya #Second-Hand Condos #Maintenance Costs #Repair Funds

Understanding Maintenance Costs for Second-Hand Condominiums

A recent survey conducted by MEMOCO in collaboration with Sumunara focused on the buying experiences of second-hand condominium owners. The study involved 123 participants, revealing critical insights into the monthly maintenance fees and repair fund contributions that buyers frequently overlook.

Survey Overview

The survey was carried out from January 29, 2025, to September 16, 2025, utilizing an internet-based research method through a crowdfunding service. Among the 123 respondents, 73 were male and 50 were female.

Demographics of Respondents

• - Age Breakdown:

- 20s: 15%
- 30s: 27%
- 40s: 36%
- 50s: 20%
- 60s and above: 2%

Monthly Maintenance Cost Awareness

The respondents exhibited a significant level of concern regarding their monthly maintenance expenses. The findings indicate that:

• - Approximately 73% of buyers felt that the maintenance costs were either high or somewhat high.
• - Only 27% considered the maintenance costs to be low or somewhat low.

This disparity suggests that potential buyers often underestimate these costs before purchasing, underlining the importance of thorough financial planning for monthly expenses before making a purchase.

Breakdown of Monthly Maintenance Costs

The survey revealed the following distribution regarding monthly maintenance payments:

• - Less than ¥12,000: 18%
• - ¥12,000 to ¥14,000: 33% (the most common range)
• - ¥14,000 to ¥16,000: 20%
• - ¥16,000 to ¥18,000: 8%
• - ¥18,000 to ¥20,000: 6%
• - Over ¥20,000: 16%

Notably, about half of the respondents (51%) reported monthly maintenance costs of below ¥14,000, while a surprising 16% faced expenses exceeding ¥20,000, indicating a wide variance based on property type and management practices.

Repair Fund Contributions

In terms of repair funds, participants expressed an even greater sense of financial pressure:

• - 78% of respondents felt that their repair fund contributions were either high or somewhat high, surpassing the feelings associated with maintenance costs.

The breakdown of monthly repair fund contributions was as follows:

• - Less than ¥6,000: 19%
• - ¥6,000 to ¥8,000: 34% (the most common range)
• - ¥8,000 to ¥10,000: 14%
• - ¥10,000 to ¥12,000: 16%
• - ¥12,000 to ¥14,000: 7%
• - Over ¥14,000: 10%

With 53% paying less than ¥8,000 monthly, it’s evident that most buyers manage to keep their repair contributions relatively low, yet a notable 10% still face considerable amounts exceeding ¥14,000.

Analysis of Cost Sensitivity by Demographics

When delving into the data by age, it was evident that respondents in their 40s expressed the most significant feelings of financial burden concerning maintenance and repair costs. Conversely, those in their 30s reported lower levels of stress regarding these payments.
Additionally, men tended to find costs to be somewhat lower compared to women, yet a majority from both genders reported that costs felt excessive.

Key Considerations for Future Buyers

1. Pre-Purchase Financial Awareness:
Potential buyers should be diligent in reviewing all aspects of monthly expenses, including maintenance and repair costs. Understanding the full financial commitment prior to purchasing is essential for avoiding future surprises.

2. Cost Comparisons:
It’s crucial to compare maintenance fees of similar properties. Low repair fund contributions may indicate potential future increases, warranting a thorough investigation before committing.

Conclusion

The survey findings highlight that a substantial portion of second-hand condominium buyers experience unanticipated financial strain related to maintenance and repair contributions. As buyers navigate through their options, they must incorporate all associated costs—especially the potential rise of repair funds—into their decision-making process. Long-term financial planning and accurate assessments of total costs can assist in ensuring a more reliable and manageable homeownership experience.