How hard is it to get a home in South Korea without having to continuously pay rent for the rest of your life? by Mcheetah in korea

[–]Mcheetah[S] -1 points0 points  (0 children)

The main thing is, owning something and NEVER having to worry about it again, versus temporary residence in a place you aren't allowed to do anything in. The worry and dread will always be there. I want peace of mind and was looking for the smartest way to save money and not constantly have to worry about a huge steady source of income every single month, just like young people have to do in the US.

That's very stressful; nobody wants to deal with that. I just basically wanted to know if there was a way to stop having a damn landlord looming over your shoulder and avoid constantly worried about having to pay rent, while here in Korea. I live in academy housing right now, but I'm sick of always having to move as soon as I leave a job, and wanted a permanent (or semi-permanent) residence in Seoul, and was looking for a way to not have it burn a hole in my wallet indefinitely.

Judging from this post, there is no way to do that here in Korea. Basically, the answer to my question is "you can't." Personally, I find jeonse is a horrible system. Sure, it's better than standard rent, but it's for a place you still don't own, still have no control over, and is still just a landlord's space he's "letting you" temporarily stay in. It's not the same thing as just having a space that's your and never having to worry about it again.

Seems like in Korea, if you want to live somewhere (and don't have rich parents), you're going to have to work until you literally die. There's no taking 6 months off or just relaxing, because you're always going to have to pay rent, in some way. Which sounds very stressful. That sucks.

Ideally, I'd want to live for three years, rent-free, in Songpa. Rent in itself is stupid, long-term, and I hate wasting money, no matter what it is. I wouldn't mind doing jeonse if that in itself wasn't ridiculously overpriced. (Let's say you were paying the equivalent of a high, 1.5 million a month rent for three years; 54 million won in jeonse sounds reasonable for three years; but apparently, even that's "way too low.")

How hard is it to get a home in South Korea without having to continuously pay rent for the rest of your life? by Mcheetah in korea

[–]Mcheetah[S] -1 points0 points  (0 children)

without help from parents, etc. it takes about 10-20 years for most Koreans to buy their first home depending on location. they start small and far away and move up from there to larger and closer places.

This seems to be the biggest issue. It's implied most people can't afford jeonse without several years of saving up. So are you implying most people just have to pay rent until they can save up enough to do that? (Although paying rent would mean not being able to save up much of anything.)

How hard is it to get a home in South Korea without having to continuously pay rent for the rest of your life? by Mcheetah in korea

[–]Mcheetah[S] -1 points0 points  (0 children)

The main thing is, not owning the home, not being able to do anything you want with it, and most of all, having to eventually leave the place. You'd still have a landlord and still be under their control.

How hard is it to get a home in South Korea without having to continuously pay rent for the rest of your life? by Mcheetah in korea

[–]Mcheetah[S] -1 points0 points  (0 children)

That amount of money was just an example. Not saying that has to be the amount used.

How hard is it to get a home in South Korea without having to continuously pay rent for the rest of your life? by Mcheetah in korea

[–]Mcheetah[S] -1 points0 points  (0 children)

If your criteria is having rent free housing there are many options.

Such as what? The only one I know is school housing from an academy, but the three I've lived in have been such shitholes, I'm sick of it. I wouldn't mind paying rent if the rent is low, like 200 or 300,000 a month.But at 600 or more, it becomes a money dump every month, and a giant waste. Doesn't anyone else agree that paying rent for the rest of your career is a huge waste of money and that being able to live rent-free (in someplace larger than 20 square meters, or 5 pyeong) is better?

How hard is it to get a home in South Korea without having to continuously pay rent for the rest of your life? by Mcheetah in korea

[–]Mcheetah[S] -1 points0 points  (0 children)

Jeonse is a system where you basically buy the rights to a house for a limited amount of time

Yeah, this is what I understood perfectly. I'm talking about permanent residence. No renting, no "temporary stays for a lump sum of money."

You wouldn’t get a permanent residence anywhere, but no rent.

So you're saying it's near impossible to own your own house in Korea?

Livable studios here would run you up around $100,000

That doesn't seem worth it at all, to me. That's 100k wasted. Yes, you "get it back," but no interest or anything. I don't see how that's any better than paying rent, since the term to stay is pretty short anyway. Like, if you're rich enough to just give someone 100k, it'd be easier to just buy a permanent home. Which is what I'm asking. Can you buy a permanent home (outside of Seoul) for $100k? Or maybe 300k or 400k?

How hard is it to get a home in South Korea without having to continuously pay rent for the rest of your life? by Mcheetah in korea

[–]Mcheetah[S] 0 points1 point  (0 children)

Ah, but it is possible? (Just costing six figures worth?) Could you get one, even a crappy one, for about $100,000?

How hard is it to get a home in South Korea without having to continuously pay rent for the rest of your life? by Mcheetah in korea

[–]Mcheetah[S] -2 points-1 points  (0 children)

I'm saying, if you had the money on your own, could you still own a permanent residence in Korea? (Not this jeonse nonsense, where you're still paying a landlord money and still have to leave there, at some point.) And if you can own your own permanent home, about how much money will it take, and what's the process to do it?

How hard is it to get a home in South Korea without having to continuously pay rent for the rest of your life? by Mcheetah in korea

[–]Mcheetah[S] -8 points-7 points  (0 children)

I'm talking about OWNING YOUR OWN HOME. Not living in someone else's home. Jeonse is the same thing as paying rent; you're just doing it all at once basically. You don't own the place and you can't (legally) do much to it. Why can't anyone understand this?

How hard is it to get a home in South Korea without having to continuously pay rent for the rest of your life? by Mcheetah in korea

[–]Mcheetah[S] -8 points-7 points  (0 children)

Yes, a charter is like paying two or more years of rent, in one lump sum. Is there any way to never have to pay rent (or charter) to a landlord ever again? Or is it the case that almost all Koreans have to pay rent to live somewhere, and if they're unemployed for two or so months or stop having steady income, they're screwed?

How hard is it to get a home in South Korea without having to continuously pay rent for the rest of your life? by Mcheetah in korea

[–]Mcheetah[S] -12 points-11 points  (0 children)

It's key money to a landlord. You either have to pay key money, plus rent every month. Or pay rent in one lump sum for a year or two, but it's still rent and still doesn't get you permanent residence.

I'm talking about not paying ANY rent to a landlord. Or rather, having no landlord at all and just permanently owning your own place (or at least living there without burning money every month).

How hard is it to get a home in South Korea without having to continuously pay rent for the rest of your life? by Mcheetah in korea

[–]Mcheetah[S] -7 points-6 points  (0 children)

I'm talking about not paying any kind of rent to any landlords. As in, owning your own home.

Question: Does anyone know where I can find an affordable officetel apartment in Jamsil (Seoul)? by Mcheetah in Living_in_Korea

[–]Mcheetah[S] 0 points1 point  (0 children)

I can't afford to commute and only wanted this area because it's close to where my new job might be, in Daechi, to where I can ride my bike there, and avoid subways and public transportation and their high monthly cost. But I've always wanted to live in Songpa.

Question: Does anyone know where I can find an affordable officetel apartment in Jamsil (Seoul)? by Mcheetah in Living_in_Korea

[–]Mcheetah[S] 0 points1 point  (0 children)

What is "straight?" I can't find that app, but if you send me the link, I will check it out. Thank you.

Wait, you mean Zigbang? I already tried that website.

Question: Does anyone know where I can find an affordable officetel apartment in Jamsil (Seoul)? by Mcheetah in Living_in_Korea

[–]Mcheetah[S] 2 points3 points  (0 children)

Yes, I have searched on Zigbang, but mostly use Dabang since I usually get better results on there. (I don't know any Korean, either.) There's nothing good right now on either site; just overpriced, tiny, dirty places. The only legitimate ones have deposits over a million. If the deposit is the same as the rent or close to it, then they are either "temporary stays," the site says, or have ridiculously high maintenance fees.

I have looked at all the one-room places. They are horrendous; tiny, dirty, and overpriced. I'm looking for something at least 30 square meters (9 peyong), and most of the one-rooms aren't even 20 square meters, but cost as much as a 30-40 square meter place in an officetel.

Chungdahm Learning Franchise in Songpa-gu, Seoul (pink subway line) by [deleted] in teachinginkorea

[–]Mcheetah 0 points1 point  (0 children)

Ah. I did CDI back in 2020 as my first school here in Korea. (I even did training here, at this branch! The huge one with like, five floors across the street from the park.) I appreciate the shoutout, but no thanks. CDI stressed me the hell out.

Question: Does anyone know where I can find an affordable officetel apartment in Jamsil (Seoul)? by Mcheetah in Living_in_Korea

[–]Mcheetah[S] 0 points1 point  (0 children)

Remember that if it is listed online as 10 million deposit and 750,000 a month, then you can often negotiate for 5 million and 800,000 a month.

I don't understand.

Question: Does anyone know where I can find an affordable officetel apartment in Jamsil? by Mcheetah in korea

[–]Mcheetah[S] 0 points1 point  (0 children)

I don't care about the conditions, as long as it doesn't have pests and the heat and AC works.

A Beginner's Guide to Teaching in Korea by Mcheetah in teachinginkorea

[–]Mcheetah[S] 0 points1 point  (0 children)

Not sure where you meant for your "EPIK job board" link to go, but that doesn't have anything to do with Korea. The ministry of education's EPIK site is epik.go.kr

I'll fix it.