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500,000 Housing Allowance for SMOE

 
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qwerty123



Joined: 15 Jun 2009

PostPosted: Mon Jul 13, 2009 10:57 pm    Post subject: 500,000 Housing Allowance for SMOE Reply with quote

From what I've been reading on this board, the SMOE housing is a bit of a crap shoot. They offer a 500,000 won housing allowance which I'm considering so that I have more control over where I live.

Does anyone know what kind of place this could get you in Seoul and how hard it is to find a place on your own? It also makes it hard finding a place seeing that you won't even know what school you're going to be placed in until after orientation.

Thanks!
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climber159



Joined: 02 Sep 2007

PostPosted: Mon Jul 13, 2009 11:08 pm    Post subject: Reply with quote

If this is your first time in Korea? If so, it's best just to accept the housing your school provides you with. Yes, it's a gamble, but it should have heat, running water, non-dirt floors, and basic furnishings. If you stay a second year, that's when you could go off and find your own place. Keep in mind that renting works a bit different here in that you usually have to put down a deposit of somewhere between 2million and 5million KRW on the apartment. Additionally, you'll need to purchase all your furnishings and arrange to have them delivered. If you don't speak Korean or don't have connections with people here you're in for a pretty rough start by opting for the housing allowance.
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qwerty123



Joined: 15 Jun 2009

PostPosted: Tue Jul 14, 2009 12:50 am    Post subject: Reply with quote

This will be my second time to Korea, but I can hardly speak a word of Korean (will be learning soon) and don't know anyone there. Seems like taking the housing would be my best bet if I end up going with SMOE.

Thanks for the advice.
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Otherside



Joined: 06 Sep 2007

PostPosted: Tue Jul 14, 2009 2:41 am    Post subject: Reply with quote

Qwerty, the problems are.
1. You don't know where school is, so you don't know where you want to live. (You could always shoot for cheap and central, but that will likely leave you with a small, crappy apartment, and a sizeable commute).

2. You need to front some big cash. Realistically, anything less than 5mill key isn't going to get you in the game. Do you have 5mill that you are willing to part with for a year? In this case, more is better.

3. 500K is not a lot of money for rent in Seoul, even with 5mill down. My officetel (in Suwon, which is cheaper) is 500k/5mill. It's nice, modern and good location, but I wouldn't go smaller! If you are in a cheaper part of Seoul, you may do ok, but what if your school is in a more expensive part of Seoul, you'll probably need to put in another 200K and live in a small place or commute.

4. You don't know where your school is, and will only find out after Orientation (Yes I could have merged this with no. 1). So you'll only be able to look for a place after you've been assigned a school and started working. This can take time, where will you stay in the meantime - and that will cost money (10 days in a motel - 400-500K right there!).

5. No furnishings, cutlery, crockery etc. Again this is money you need to front. Except you won't get it back when it's time to go, and buying furnishings for a 1-2 year gig is a big waste of money (sure you can buy second hand and sell, but you still lose alot in the process).

6. All the other problems being a foreigner trying to rent in Korea. How will you sign the lease/negotiate, how will you get things fixed, when it's time to go how will you ensure you get your key money back ?(sure the money is "insured" - read how to check this - but will you have the time at the end of the contract to deal with this?)

Sure SMOE housing is a crapshoot, however under your circumstances, the alternative may be worse. At best you'll get a better place at the cost of significant time and money. At worst, you'll get an equal/worse place that costs you time, money and is a huge hassle.

SMOE's policy of not letting you know where you work until after orientation is pathetic. For a lot of people, it doesn't really make a difference, but for many people (especially people not on their first sojourn) it makes getting your fucks in a row before you very difficult.
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ahsieee



Joined: 03 Mar 2009
Location: Yongin, South Korea

PostPosted: Tue Jul 14, 2009 3:05 am    Post subject: Reply with quote

also keep in mind that the housing allowance is taxable.
SMOE states specifically in their contract that they will not help with the key money.
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poet13



Joined: 22 Jan 2006
Location: Just over there....throwing lemons.

PostPosted: Tue Jul 14, 2009 4:32 am    Post subject: Reply with quote

"it makes getting your fucks in a row before you very difficult."

OP. Straight up bro. Get the apartment squared away first. Girls really like to know you're not homeless. You can organize the other stuff (above) later.
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qwerty123



Joined: 15 Jun 2009

PostPosted: Tue Jul 14, 2009 7:43 am    Post subject: Reply with quote

Thanks all.

Otherside - Good points. I lived in Germany a while back and because the place I lived was so used to renting to foreigners the rental contract and application were all translated into English as were a couple of other places I'd looked at. Sounds like no such luck in Seoul.
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ducati



Joined: 02 Jun 2009

PostPosted: Tue Jul 14, 2009 8:19 am    Post subject: Reply with quote

poet13 wrote:
"it makes getting your fucks in a row before you very difficult."

OP. Straight up bro. Get the apartment squared away first. Girls really like to know you're not homeless. You can organize the other stuff (above) later.

I'm glad that girls knowing you're not homeless is key... Laughing
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