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Is this apartment a good deal?
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Freakstar



Joined: 29 Jun 2007

PostPosted: Thu Sep 27, 2007 4:33 am    Post subject: Is this apartment a good deal? Reply with quote

800,000 KRW a month will get me a fully furnished apartment including:

queen bed
dining table and two chairs
tv
washer/dryer
fridge
microwave
rice cooker
aircon
ample closet space
spacious bath with separate shower stall
maintenance fee included
all utilities paid including cable TV and high speed internet
net pyung: 8

Is this a good deal? Place is within 5 minutes walking distance of Sincheon station (green line, line 2) in Gangnam. It's clean and modern if a bit small but I wouldn't have to buy a single piece of furniture other than kitchen stuff like pans and dishes. Everything else I looked at today was a piece of crap hole in the wall. Mad
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SeoulShakin



Joined: 05 Jan 2006
Location: Seoul

PostPosted: Thu Sep 27, 2007 4:40 am    Post subject: Reply with quote

I lived by Sincheon station last year, and it's a really nice area, though I'm not sure it's technically part of Gangnam. That area there is Jamsil dong, Songpa-gu. It might technically be a part of Gangnam, but when I lived there I was under the impression that it wasn't. It doesn't take long to get there though.

Very close to Jamsil, which has good shopping and foreign food available for groceries if that's what you're into.
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bassexpander



Joined: 13 Sep 2007
Location: Someplace you'd rather be.

PostPosted: Thu Sep 27, 2007 4:42 am    Post subject: Reply with quote

I'd say no.

Too bad you don't have a spare 50 million sitting around. Our place is over 30 pyong with 2 bathrooms, 3 bedrooms, and a nice living room. We pay 800,000 for it per month, after the down-money. Only a few years old, too. We're in Seoul. Others have better places, but we're comfortable.
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Typhoon



Joined: 29 May 2007
Location: Daejeon

PostPosted: Thu Sep 27, 2007 4:59 am    Post subject: Reply with quote

8 pyung is crazy small. 800 000 a month is way too much to pay unless they are providing a livein man/woman (what ever you prefer) to provide you all the services you desire.
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xCustomx



Joined: 06 Jan 2006

PostPosted: Thu Sep 27, 2007 5:36 am    Post subject: Reply with quote

You should be able to find all of those items for sale from teachers who are moving out of Korea. Check out the buy/sell section, worknplay or englishspectrum. I'd guess you could get everything for about 500,000. The maint. fee and utilities usually come out to about 125-160,000 in an officetel, so your real rent is about 610-630,000/month, since you also get free cable tv and internet (total of about 30,000/month).

I'd say keep looking, since you can get a larger place elsewhere. I know rent is rising in Gangnam though. My friends place is going from 650,000/month up to 800,000 for about 10 pyung.
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Freakstar



Joined: 29 Jun 2007

PostPosted: Thu Sep 27, 2007 5:54 am    Post subject: Reply with quote

bassexpander wrote:
I'd say no.

Too bad you don't have a spare 50 million sitting around. Our place is over 30 pyong with 2 bathrooms, 3 bedrooms, and a nice living room. We pay 800,000 for it per month, after the down-money. Only a few years old, too. We're in Seoul. Others have better places, but we're comfortable.


Dude, I don't need or want 30 pyung, 2 bathrooms and 3 bedrooms. It's just me flying solo.

But it sounds like you got a good deal on your place.
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bassexpander



Joined: 13 Sep 2007
Location: Someplace you'd rather be.

PostPosted: Thu Sep 27, 2007 6:07 am    Post subject: Reply with quote

Freakstar wrote:
bassexpander wrote:
I'd say no.

Too bad you don't have a spare 50 million sitting around. Our place is over 30 pyong with 2 bathrooms, 3 bedrooms, and a nice living room. We pay 800,000 for it per month, after the down-money. Only a few years old, too. We're in Seoul. Others have better places, but we're comfortable.


Dude, I don't need or want 30 pyung, 2 bathrooms and 3 bedrooms. It's just me flying solo.

But it sounds like you got a good deal on your place.


No, my deal is average.

I think for the size place you're looking at, you'd want to spend around the 400 to 500 range.
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SeoulShakin



Joined: 05 Jan 2006
Location: Seoul

PostPosted: Thu Sep 27, 2007 6:12 am    Post subject: Reply with quote

Yes, I don't think bassexpender was saying you should get bigger for your money. I think he meant that for the size you are looking at, you should be paying less. If you want around that size, you should only be paying between 400,000 and 500,000 a month tops.

I'm paying 850,000 (split with one roommate) for a 3 bedroom place, with a separate living room, kitchen with a full oven, microwave, lots of counter space, the bathroom has a full size bathtub, washer/dryer and is as big as the small bedroom. We also have private rooftop access.

If they are saying 800,000 for something that small, they are ripping you off. If they pull the "it's fully furnished" thing on you, that's bull, because ours is fully furnished as well.

Sincheon is an expensive area to live. If you are looking to live in a more posh area like Gangnam (from your op I think you mentioned that area) or Apkujeong, you will pay more for the space. However, if you go even a little bit out of those areas, you will get either more for your money, or end up saving a lot for the same amount of space.
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write of weigh



Joined: 08 Sep 2007
Location: Mars

PostPosted: Thu Sep 27, 2007 6:17 am    Post subject: Reply with quote

Typhoon wrote:
8 pyung is crazy small. 800 000 a month is way too much to pay unless they are providing a livein man/woman (what ever you prefer) to provide you all the services you desire.


Ive got to strongly agree with this post.

800,000 won for 8 pyung? is that a typo?

My situation is 5 large down and 300,000 monthly, 17 pyung

And by the way 800,000 would only be the rent, then u have maintance charges and utilities. Good god, run from that deal, it's rotten.

bassexpander wrote:
I'd say no.

Too bad you don't have a spare 50 million sitting around. Our place is over 30 pyong with 2 bathrooms, 3 bedrooms, and a nice living room. We pay 800,000 for it per month, after the down-money. Only a few years old, too. We're in Seoul. Others have better places, but we're comfortable.


If that's ur 50 mil, do u realize how much money ur throwing away? + 800,000 a month. I cant think of anywhere is south Korea worth that much. Your paying over 1.5 mw a month in just rent. And that's only with the 50 mil making 20%. These off shore emerging markets are off the hook with returns. Hong Kong is just shy of 150% returns in one year.

check out this link. click Specialist tab and go to town.
http://www.fpinternational.com/funds/iom.jhtml
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Freakstar



Joined: 29 Jun 2007

PostPosted: Thu Sep 27, 2007 6:23 am    Post subject: Reply with quote

write of weigh wrote:
Ive got to strongly agree with this post.

800,000 won for 8 pyung? is that a typo?

My situation is 5 large down and 300,000 monthly, 17 pyung

And by the way 800,000 would only be the rent, then u have maintance charges and utilities. Good god, run from that deal, it's rotten.


Just fyi - 800,000 KRW includes all maintenance charges and utilities including cable TV and internet. The place is also fully furnished.

Yeah I know 8 pyung is small but I was thinking at least I wouldn't have to pay for anything else - no other bills, just pay rent once a month.
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bassexpander



Joined: 13 Sep 2007
Location: Someplace you'd rather be.

PostPosted: Thu Sep 27, 2007 6:27 am    Post subject: Reply with quote

write of weigh wrote:
Typhoon wrote:
8 pyung is crazy small. 800 000 a month is way too much to pay unless they are providing a livein man/woman (what ever you prefer) to provide you all the services you desire.


Ive got to strongly agree with this post.

800,000 won for 8 pyung? is that a typo?

My situation is 5 large down and 300,000 monthly, 17 pyung

And by the way 800,000 would only be the rent, then u have maintance charges and utilities. Good god, run from that deal, it's rotten.

bassexpander wrote:
I'd say no.

Too bad you don't have a spare 50 million sitting around. Our place is over 30 pyong with 2 bathrooms, 3 bedrooms, and a nice living room. We pay 800,000 for it per month, after the down-money. Only a few years old, too. We're in Seoul. Others have better places, but we're comfortable.


If that's ur 50 mil, do u realize how much money ur throwing away? + 800,000 a month. I cant think of anywhere is south Korea worth that much.



Ha. You need to check some apartment rates here, my friend.

Wouldn't everyone in the world like 150% returns on their money.

Got any land to sell?
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write of weigh



Joined: 08 Sep 2007
Location: Mars

PostPosted: Thu Sep 27, 2007 6:34 am    Post subject: Reply with quote

Freakstar wrote:
write of weigh wrote:
Ive got to strongly agree with this post.

800,000 won for 8 pyung? is that a typo?

My situation is 5 large down and 300,000 monthly, 17 pyung

And by the way 800,000 would only be the rent, then u have maintance charges and utilities. Good god, run from that deal, it's rotten.


Just fyi - 800,000 KRW includes all utilities including cable TV and internet. The place is also fully furnished.


lol....fully furnished? Its 8 pyung !!!! (not even 8, 1 or 2 pyung counts for the elevator/stairs) You cant even fit a queen sized bed in there comfortably. With 800,000 u can buy all the things u mention, plus u can pay the first months rent.

Probably ur obstacles are alittle key money, or a korean friend to help u out. Internet is easy. Infact, a nice landlord will help u out with both. You can pay the dp alittle month by month and he'll set up with internet. My landlord did my first year, and yes it was an 8 pyung. I payment 3 mil down, 250k month.

Just dont want to c u get ripped. Us fookin wagookins gotta look out for each other.
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write of weigh



Joined: 08 Sep 2007
Location: Mars

PostPosted: Thu Sep 27, 2007 6:36 am    Post subject: Reply with quote

bassexpander wrote:
write of weigh wrote:
Typhoon wrote:
8 pyung is crazy small. 800 000 a month is way too much to pay unless they are providing a livein man/woman (what ever you prefer) to provide you all the services you desire.


Ive got to strongly agree with this post.

800,000 won for 8 pyung? is that a typo?

My situation is 5 large down and 300,000 monthly, 17 pyung

And by the way 800,000 would only be the rent, then u have maintance charges and utilities. Good god, run from that deal, it's rotten.

bassexpander wrote:
I'd say no.

Too bad you don't have a spare 50 million sitting around. Our place is over 30 pyong with 2 bathrooms, 3 bedrooms, and a nice living room. We pay 800,000 for it per month, after the down-money. Only a few years old, too. We're in Seoul. Others have better places, but we're comfortable.


If that's ur 50 mil, do u realize how much money ur throwing away? + 800,000 a month. I cant think of anywhere is south Korea worth that much.



Ha. You need to check some apartment rates here, my friend.

Wouldn't everyone in the world like 150% returns on their money.

Got any land to sell?



Do ur homework and check the link, beef jerky, then run ur mouth.
You would save urself this embarrassment, idiot.
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tzechuk



Joined: 20 Dec 2004

PostPosted: Thu Sep 27, 2007 6:53 am    Post subject: Reply with quote

write of weigh wrote:
Freakstar wrote:
write of weigh wrote:
Ive got to strongly agree with this post.

800,000 won for 8 pyung? is that a typo?

My situation is 5 large down and 300,000 monthly, 17 pyung

And by the way 800,000 would only be the rent, then u have maintance charges and utilities. Good god, run from that deal, it's rotten.


Just fyi - 800,000 KRW includes all utilities including cable TV and internet. The place is also fully furnished.


lol....fully furnished? Its 8 pyung !!!! (not even 8, 1 or 2 pyung counts for the elevator/stairs) You cant even fit a queen sized bed in there comfortably. With 800,000 u can buy all the things u mention, plus u can pay the first months rent.

Probably ur obstacles are alittle key money, or a korean friend to help u out. Internet is easy. Infact, a nice landlord will help u out with both. You can pay the dp alittle month by month and he'll set up with internet. My landlord did my first year, and yes it was an 8 pyung. I payment 3 mil down, 250k month.

Just dont want to c u get ripped. Us fookin wagookins gotta look out for each other.


Actually, she said in her OP that it is NET 8 pyeong... so I think she really means the whole place is 8pyeong.

I think it's a lot of money BUT knowing how expensive these places can be (my husband paid 1m for my step-daughter 5 years ago in Yeoksam!!!), I'd say that 800,000 isn't too bad if it does really include all the bills.

In the end, you have to live in it, if you think you will be happy there, go for it. Otherwise, I would suggest looking around a little bit more.
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bassexpander



Joined: 13 Sep 2007
Location: Someplace you'd rather be.

PostPosted: Thu Sep 27, 2007 6:58 am    Post subject: Reply with quote

write of weigh wrote:
bassexpander wrote:
write of weigh wrote:
Typhoon wrote:
8 pyung is crazy small. 800 000 a month is way too much to pay unless they are providing a livein man/woman (what ever you prefer) to provide you all the services you desire.


Ive got to strongly agree with this post.

800,000 won for 8 pyung? is that a typo?

My situation is 5 large down and 300,000 monthly, 17 pyung

And by the way 800,000 would only be the rent, then u have maintance charges and utilities. Good god, run from that deal, it's rotten.

bassexpander wrote:
I'd say no.

Too bad you don't have a spare 50 million sitting around. Our place is over 30 pyong with 2 bathrooms, 3 bedrooms, and a nice living room. We pay 800,000 for it per month, after the down-money. Only a few years old, too. We're in Seoul. Others have better places, but we're comfortable.


If that's ur 50 mil, do u realize how much money ur throwing away? + 800,000 a month. I cant think of anywhere is south Korea worth that much.



Ha. You need to check some apartment rates here, my friend.

Wouldn't everyone in the world like 150% returns on their money.

Got any land to sell?



Do ur homework and check the link, beef jerky, then run ur mouth.
You would save urself this embarrassment, idiot.



I have. I wasn't impressed with what's actually being earned.

My mutual funds are consistently around 8%. Not stellar, but it's consistent.

It's obvious that you don't know a thing about apartment prices in Seoul, either. Enough time wasted on a fool and his dreams of wealth.
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