How to find an apartment or house in Korea (single person, cheap, luxury etc)

Even though you were not born in Korea, there are times when you need to find a place to live in Korea for reasons such as work or study. At this time, finding a house is more difficult because it is complicated and costs a lump sum of money. The following is a helpful article about this:

The most common housing types in Korea are apartments, villas, and single-family homes. The larger the city, the higher the proportion of apartments. Of course, the cost is a bit higher for apartments.

Now let's get to the point.

Rent costs vary greatly depending on which house you buy. Therefore, we cannot tell you this. However, in Korea, you can find this information by going to a place called 'budongsan'. It is a Korean legal term meaning 'house'. When you enter a 'budongsan' store near an apartment, the relevant people will explain in detail about the real estate price, internal square footage, surrounding infrastructure, transportation, etc.

In general, the better the transportation and the more amenities nearby, the more expensive the house is. If you can afford it, you can buy a luxury home, but if you have to buy a less expensive home, you have to compromise on some terms.

<3 Types of Home Buying>

Furthermore, there are three ways to find a house in Korea. The first is buying a house. It costs the largest amount, and it is customary to sign a contract and pay the amount in three installments. These are called down payment, interim payment, and balance payment. The sales contract can be canceled early if only the deposit has been paid. Although there are complex legal relationships involved, these are usually not concerns when purchasing a home.

The second method is ‘jeonse’ which is a kind of charter. All you have to do is pay a lump sum as a deposit. The price is cheaper than buying.

The third method is to pay a deposit smaller than the jeonse and pay monthly rent.

<cautions>

Although there are not many crimes committed against foreigners who are not good at Korean, we recommend that you turn on a tape recorder and be accompanied by someone who is fluent in Korean and familiar with Korean culture when signing a sales contract. This is to prepare for any possible conflict.

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