Finding An Apartment When In Seoul
Many foreigners come to South Korea to enjoy its awesome lifestyle. This includes spending their holidays in one of its many world class hotels, like the prestigious Samsung World. However, tourists usually choose to rent an apartment by the day. By doing this, they could experience a more authentic lifestyle while still making a nice amount of savings. Note: This post is largely focused on furnished apartments in Seoul, but could be applicable to privately owned apartments elsewhere in Korea.
The expense of apartment rentals in Seoul depends largely on the place. The bigger the city, the pricier the apartments and the more expensive the costs will be. To get a better idea about the costs of different buildings, check out this table:
Studio apartments: As the title would imply, studio apartments are one-room dwellings that normally come with one or two bedrooms. Because of their small size, studio apartments are often located far from tourist destinations or other areas where tourists might want to go to. In contrast to villas, studio flats may be cheaper as they are generally rented by the day. They are ideal for students who are short on cash but still need somewhere to live. Apart from being an ideal place to live, a studio apartment in Seoul is also famous for its high safety profile and low crime rate.
Villas: A relatively new kind of apartment buildings, villas offer more space than studio flats and are usually considered more luxurious. If you want to rent a villa in Seoul, make certain that you find one which offers good amenities like a swimming pool, game room and so forth. Some villas even offer security and other convenience packages. Due to the growing demand for these types of villas, prices have become rather expensive as well.
Deposit: A significant factor when renting an apartment or staying at a villa in Korea is the price of rent. Before you sign any agreement with a rental business, you should ask them about the required deposit. The deposit may vary depending on the rental company and from time to time, even between apartment complexes. You must always read the contract thoroughly before signing it since some businesses might impose stricter rules about how much money you will need to deposit.
Accommodations: When living in a different country for quite a long time, it might become difficult to adapt to the culture. This might lead to problems with your apartment complex. Before you decide to rent a place, be sure you have enough funds to support yourself for a month or two while you study in Seoul. A monthly budget is advisable since this can allow you to avoid having any financial difficulty when adjusting to the new culture. You can ask your friends or colleagues if they have any flats they might want to rent so you will have some idea on where to look for a place to stay when in Seoul.
Jeonse System: Many people who rent an apartment in Seoul utilize the Jeonsee system. This system resembles the Euro pockets system where the flat owners to deposit a certain amount of the monthly earnings into a special bank accounts. Then they use this money as the main key money for their apartment. Some landlords also offer a weekly or monthly income that you can use to pay for your rent. They just check your account once in a month to make sure that the money was deposited. If your landlord does not provide any income, you should think about finding a house to rent rather than paying rent with your key money.
Apartments in Seoul are provided by major international and domestic apartment buildings in addition to property management companies. The rates for apartments are usually higher than those in metropolitan cities but they are still cheaper in comparison to other developed nations like the US and UK. It is easy to get an apartment that you rent in Seoul without needing to worry about its own location, cost of utilities or the standard of the building.
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