Korean Job Discussion Forums

PatrickGHBusan · Posted: Tue Nov 02, 2010 4:29 am Post subject:

Draz, if you are debt free at least you have the OPTION to save money and perhaps invest it.

That was my entire point by the way.

Best of luck to you.

silkhighway · Joined: 24 Oct 2010 Location: Canada

Returning home after a stint abroad is like getting married or having kids. If you wait for the perfect time to do it, you never will.

If you have spent a few years in Korea and hardly saved anything, it's very unlikely you're going to change your behaviour. It will only get worse, not better, so unless you are a highly motivated go-getter (which hardly describes your average English teacher in Korea), basic financial and mental preparation -- a positive but cautious attitude and a willingness to work even if it means lowering the standards you've been accustomed to in Korea -- is probably the best you can do.

I've known a lot of people who have returned from Korea and none of them are homeless or destitute, and those who stuck it out longer than a few months before giving in and going back have all moved on to other things by now.

bucheon bum · Joined: 16 Jan 2003

TheUrbanMyth · Joined: 28 Jan 2003 Location: Retired

PatrickGHBusan · Posted: Wed Nov 03, 2010 4:15 am Post subject:

Urban you have a point but its a little more complex than this.

Airmax has a valid point when he says a reasonably purchased house.

That to me means picking a good area (this requires research), having the means to buy the house and pay for it or at least rent it.

Buying a house to buy a house is a bad plan. However, with some planning and research a property buyer will make a profit over the mid to long term. A house also builds your credit and opens other financial possibilities.

Of course, it is not for everyone!

usmustrust · Joined: 09 Feb 2007

tottenhamtaipeinick · Joined: 05 Sep 2010 Location: Canada

I currently do property development, and sure property is a great investment though it can be like superannuation in a way because you have to work harder (big sacrifices!!) to get a good return in 10-20 years (that is if you only buy one house). It is hard to predict a property market for 1-5year term and whether your substantial sacrifices really paid off for a good gain. A government sets out to keep property prices down for home buyers (Government pushed affordable housing initiatives kick in whenever buying slows down and prices go up), When there is a shortage of apartments rent escalates and developers race to build the highest apartment complex to date creating far too many and buyers fight to sell what they thought was an asset. Then there is the now unsteady economy!!

I would rather buy land as the rates are low, you have no bad tenants, the market doesnt put you in a bad position when you feel you want to sell and is stress free. The world population is always going to increase and time and time again I see joe blow buy what was a larger country block and 3 years later sprawl reaches his suburb and a developer offers 10x what he paid for. As long as you can research land well you�re in for a win and the price of land is much cheaper than a loan for a house or apartment.

NilesQ · Joined: 27 Nov 2006

Zulethe · Joined: 04 Jul 2008

Just read this entire thread and very, very interesting stuff. I'd be curious to see how some of the posters have gotten along since this thread was originally posted.

It's rare to have a thread with so many interesting perspectives that doesn't nose dive into an embarrassing shouting match between two people who inevitably always have to be right.

Way to go guys...