The budget for a vacant house renovation
The renovation of the main house and the tea house is going to start this spring. The house has been vacant for 20 years, and the estimated cost to revert to the situation 20 years ago is 6,600,000JPY (approx.60,000USD). It far exceeds the average annual income for 40s in Japan (about 46,500USD), but isn’t extraordinary for renovation of an old vacant house. I’m going to spell out the financial reality of vacant houses. ABANDONED HOUSES IN JAPAN Increasing vacant houses are one of the most pressing social problems in Japan. According to the statistics by the Ministry of Internal Affairs, the ratio of vacant houses to the total no. of existing houses in 2018 is 13.6%, growing steadily for more than 50 years (for detailed figures, please see: https://www.stat.go.jp/data/jyutaku/2018/pdf/g_gaiyou.pdf ). The aging society and the excess concentration of population and industry in the Tokyo Metropolitan area are accelerating the trend particularly in rural areas. Vacant Houses Special M...