Korean Job Discussion Forums

[sulperman]

I waiting to look at places to live, so in the meantime I'll ask dumb questions here about it. Please indulge me.

I am just curious what kind of a difference I might expect to find between a 5mil key money/500K a month place and a 10mil key/500K place? I understand that there is a wide range of stuff out there, and I am still unsure whether i want a one room or a 1 or 2 bedroom place, so any responses regarding either would be appreciated.

I see that many ads say that the rent is negotiable with more or less key money. But how much? I assume it is somewhat different in every case, but how much might a 5 mil difference change the monthly rent?

Any responses greatly appreciated.

[ajgeddes]

If you want to live outside of Itaewon or Haebangchon, it won't make much of a difference in monthly rent. For example, for my apartment, the different in rent between a 20 million and 40 million won deposit was 100,000 won.

Now, if you are looking at the different between 5 mill/500K and 10 mill/500k, you are looking at a villa vs. an officetel, both one room.

[red_devil]

[VanIslander]

Where in Korea are you looking? That makes a big difference.

The place I recently got in Tongyeong on the southeast coast was 5k/350 mo or 10k/300 mo and my employer opted for the latter.

[sulperman]

[blackjack]

Look at it this way every 5 million down is 50,000 a month less.

15 million down 450 a month
10 million down 500 a month
5 million down 550 a month
0 down 600 a month (normally not possible)

50,000 time 12 equals 600,000

so if you were to invest the extra 50,000 you would have to be making 12% to make more money off the 5 million.

Key money is a good thing.

Okay I am sure my numbers are wrong some where but hey it's late

[sulperman]

Cool, thanks for all the responses. I appreciate it!

[Yesterday]