A few weeks ago we went to an old kodan not far from where we live to inspect an apartment that was on sale. We had never had dealings with this particular real estate company before, and we arrived early to check out the general environment, which was better than it is for most kodan. This one was built in the mid-80s and while the buildings themselves were as dull and utilitarian-looking as any other, the landscaping was impressive: lots of clean, well-maintained mini-parks separating the buildings, which were situated at angles that took advantage of the sunlight. We strolled over to the apartment building where we were to meet the agent and just so happened to run into an agent for a different company setting up a sign outside the same building for an open house. We knew this woman well, having met her numerous times when we inspected other properties in the vicinity. She was open and knowledgeable and knew exactly what we were looking for. It was always a pleasure to talk to her because she didn’t put on the usual salesperson front.

She told us that the apartment she was showing had been badly damaged in a fire. The owners had insurance, which covered the renovations. In fact, they apparently used the opportunity to gut the whole place and completely redo it. It wasn’t clear if the owners had been planning to move beforehand or made the decision after the fire (which is understandable–it might have been difficult for them to face their neighbors after almost burning down the building), but in any case the 70-square meter apartment was being sold for about ¥8 million. We told the agent we’d drop in after we inspected the other place. Read More