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Getting an apartment with 5mil key money

 
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jigab



Joined: 28 Dec 2007

PostPosted: Sat Jan 05, 2008 5:51 pm    Post subject: Getting an apartment with 5mil key money Reply with quote

Hello, I am new to daves esl. I accepted a contract to work in Korea starting February. My hagkwon will not give me housing but will give me 5 mil key money. I've searched on these boards to look for what kinds of villas/officetels you might find, but haven't had luck finding informative posts.

I think I may be located in central seoul/gangnam/jamsil area, what can I expect to find with 5mil key and paying 500-700 in rent? any advice in finding an apartment would be great, thanks guys!
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R. S. Refugee



Joined: 29 Sep 2004
Location: Shangra La, ROK

PostPosted: Sat Jan 05, 2008 7:00 pm    Post subject: Reply with quote

Maybe this site will help:
http://seoul.craigslist.co.kr/
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Harpeau



Joined: 01 Feb 2003
Location: Coquitlam, BC

PostPosted: Sat Jan 05, 2008 7:07 pm    Post subject: Reply with quote

A lot of it depends what part of town you live in. My wife & I are in northern Seoul close to Gireum Station and we found a 2 bedroom Villa and fit into the price you described.

But if you want to live in Gangnam, Hongdae, etc., then you can expect to pay much more money. Did you say where you will be working? Many Westerners have been moving into Haebangcheon. It has a very cool arts & music scene happening. Good luck to you.
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ajstew



Joined: 04 Feb 2004
Location: Korea

PostPosted: Sat Jan 05, 2008 7:13 pm    Post subject: 5 million key money Reply with quote

I hope you didn't sign into a bad contract. Most places offer housing... and 5 million seems on the low end for key money. Your hogwon must be paying you big money to make that housing option worth while.
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Hanson



Joined: 20 Oct 2004

PostPosted: Sun Jan 06, 2008 2:24 am    Post subject: Reply with quote

5 million key money in Central Seoul? Good luck!

Why wouldn't your new job just provide housing, period? Why are you even paying rent? I smell something not quite right, here.
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jigab



Joined: 28 Dec 2007

PostPosted: Sun Jan 06, 2008 1:59 pm    Post subject: Reply with quote

I'm an hourly paid worker and not a salary, so thats why I get 5 mil key. I really wish they would give 10 =/. Do you guys have any pictures, or can you describe the differences between a villa and an officetel?


also, just a curious side question: 1. in an officetel/studio that has a upstairs flat, is that for your bed? it looks awfully small up there. 2. I see pictures of a bathroom with a shower head and no shower/tub...how does that work?
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GoldMember



Joined: 24 Oct 2006

PostPosted: Sun Jan 06, 2008 4:47 pm    Post subject: Reply with quote

Renegotiate. Get more Key Money. PERIOD!! Don't accept lousy deals.
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hari seldon



Joined: 05 Dec 2004
Location: Incheon

PostPosted: Sun Jan 06, 2008 5:54 pm    Post subject: Re: Getting an apartment with 5mil key money Reply with quote

jigab wrote:
Hello, I am new to daves esl. I accepted a contract to work in Korea starting February...
The contract won't be in force until you have a work visa so don't feel like you're locked into it.

BTW, if anyone is looking for a place in Bupyeong, I'm moving out of an officetel that's less than a 5 minute walk from Bupyeong Station (Seoul Subway Line #1). Key money is 5 million; rent is 380,000 and there's no maintenance fee...
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jigab



Joined: 28 Dec 2007

PostPosted: Mon Jan 07, 2008 9:05 am    Post subject: Reply with quote

The thing is I get paid pretty decently for an hourly as rookie to korea. I don't mind so much paying my own rent, I'm just worried if I can get a decent villa/officetel with just 5mil key? I dont mind if the property has some age on it, as long as its clean, doesnt have mold and such.
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Bibbitybop



Joined: 22 Feb 2006
Location: Seoul

PostPosted: Mon Jan 07, 2008 9:20 am    Post subject: Reply with quote

Yo, you can get a decent sized studio on central Seoul for 5 million key money and 500-700 in rent.

Most places want 10 million key, so negotiate them down to 5 for an increase of about 100 in rent a month. I did this, but I negotiated down from 10 to 2 million with an increase of 200 per month in rent. I live in a very nice part of central Seoul, and though I had to talk to a lot of real estate agents (budongsan) I got exactly what I wanted. People who say you can't do it haven't tried, or quit too soon.
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rowdie3



Joined: 22 Sep 2003
Location: Itaewon, Seoul

PostPosted: Mon Jan 07, 2008 5:35 pm    Post subject: Reply with quote

Good luck with that in Gangnam. You will end up with a grotty one room with mold on the bathroom walls that you will freeze in in the winter.

I looked in Gangnam for four days last February. Saw about 15 places that were the same. Ended up with a sweet three bedroom in Itaewon because my friend and I put our 5million key money from each school together.

Realistically, you really do need 10 million to live on the rich side of the river.

P.S. This seems like a lot of responsibility for your school to put on a newbie. Where are you supposed to live while you are finding a place. Does the school pay for it? Also, will the school be provided full furnishings (not just bed, fridge, but things like pots and pans and a kettle). If not, bail bail bail.
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jigab



Joined: 28 Dec 2007

PostPosted: Mon Jan 07, 2008 7:36 pm    Post subject: Reply with quote

thanks for the replys guys. Yea they do put me up for a week or so in a hotel. The company is reputable, so im not too worried about it. So I gather I should probably think about north of the river, central seoul area? Whats the travel time from lets say right across the river from gangnam to actually gangnam? for that matter, whats the general time between subway stops?


lastly, im really really curious about the shower heads in the middle of a bathroom without a tub, how does that work? and about that second story loft inside an officetel...looks awfully small up there for a bedroom....thanks!
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mindmetoo



Joined: 02 Feb 2004

PostPosted: Mon Jan 07, 2008 8:13 pm    Post subject: Reply with quote

What could you get with 20 mil down?
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cdninkorea



Joined: 27 Jan 2006
Location: Seoul

PostPosted: Mon Jan 07, 2008 8:37 pm    Post subject: Reply with quote

jigab wrote:
Whats the travel time from lets say right across the river from gangnam to actually gangnam? for that matter, whats the general time between subway stops?

Bookmark this site:
http://www.smrt.co.kr/swf/english/cyberstation/main.swf

Quote:
lastly, im really really curious about the shower heads in the middle of a bathroom without a tub, how does that work?

You don't get a bathtub- my apartment doesn't either. It seems only really nice places have bathtubs in Korea.

Quote:
and about that second story loft inside an officetel...looks awfully small up there for a bedroom....thanks!

It's just for sleeping- if the place you looked at is like the places I've seen, you'll have to duck up there because of the low ceiling. It's not too bad though except that the first few mornings you'll wake up and hit your head. After that you'll instinctually duck when you get up. Laughing
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jigab



Joined: 28 Dec 2007

PostPosted: Tue Jan 08, 2008 7:44 am    Post subject: Reply with quote

cdninkorea....that website is soooo useful, thanks!


If the restroom doesnt have a tub, do you just shower in that bathroom like it was one big shower?
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