Hello, thanks for the very insightful video ! Just wanted to double-check: are these huge deposits a common practice in Seoul ? Sounds like a big roadblock for me, at least for now. For instance, in Paris, a deposit is typically 1 month of rent, sometimes 2 months, never more.
These large deposits are a common practice in all of Korea :/ I completely feel you on that being a roadblock. The lowest deposit I've personally seen is 5,000,000 won (that's what I put down on my first place.) What you can do to get yourself started is look into "goshiwons", also you can join different Facebook groups for housing in Korea. I see a lot of posts where someone is looking for roommates. They usually ask for one month deposit, or a very low deposit comparatively, and the rent is much lower since you're paying for a private bedroom and shared spaces. I hope this helps! There are other options, you don't have to jump straight into signing a contract on an apartment with a crazy deposit.
This is a great video! I wanna say, though, that while living in Korea I moved to a few different apartments and every time I try to change the address on my ARC the community centre always tell me that they can't do it and that I have to go to the immigration place ㅠㅜ so it could be a case-by-case thing
Really?? That's so interesting! Thank you for sharing your experience :) When I was living in Geoje-do and my coworkers and I switched apartments, I think my employer just brought us all to the immi office because it was always super quiet and chill there. But since moving to Seoul in 2019, I've always had my new addresses stamped at the community center.
Please do!! I'm surprised immigration (at least in Seoul) even wanted to deal with an address change on your ARC 😆 They're always booked up and seem to only want to deal with extensions / anything requiring paperwork that the local 주민센터 can't process.
@@shaneayo yeah I was surprised too because I suppose it's a simple change. I've only dealt with immigration in the Incheon branch so maybe the community centres in that district aren't capable of the task idk!
can you insure the key money part of a deposit, say 5000 만 , and comment on the process if you know anything and if you can be turned down for this insurance if the property is sketchy/too old? I'm not talking about the Seoul automatic insurance but a private broker
Unfortunately I am not familiar with housing insurance in Korea, so I cannot comment on that... I have always protected my deposit through the local community center, as described in the video!
Hello, thanks for the very insightful video ! Just wanted to double-check: are these huge deposits a common practice in Seoul ? Sounds like a big roadblock for me, at least for now. For instance, in Paris, a deposit is typically 1 month of rent, sometimes 2 months, never more.
These large deposits are a common practice in all of Korea :/ I completely feel you on that being a roadblock. The lowest deposit I've personally seen is 5,000,000 won (that's what I put down on my first place.)
What you can do to get yourself started is look into "goshiwons", also you can join different Facebook groups for housing in Korea. I see a lot of posts where someone is looking for roommates. They usually ask for one month deposit, or a very low deposit comparatively, and the rent is much lower since you're paying for a private bedroom and shared spaces.
I hope this helps! There are other options, you don't have to jump straight into signing a contract on an apartment with a crazy deposit.
@@shaneayo Thanks for the tips !
This is a great video! I wanna say, though, that while living in Korea I moved to a few different apartments and every time I try to change the address on my ARC the community centre always tell me that they can't do it and that I have to go to the immigration place ㅠㅜ so it could be a case-by-case thing
Really?? That's so interesting! Thank you for sharing your experience :)
When I was living in Geoje-do and my coworkers and I switched apartments, I think my employer just brought us all to the immi office because it was always super quiet and chill there. But since moving to Seoul in 2019, I've always had my new addresses stamped at the community center.
@@shaneayo I should really try this again next time I move! 😄
Please do!! I'm surprised immigration (at least in Seoul) even wanted to deal with an address change on your ARC 😆 They're always booked up and seem to only want to deal with extensions / anything requiring paperwork that the local 주민센터 can't process.
@@shaneayo yeah I was surprised too because I suppose it's a simple change. I've only dealt with immigration in the Incheon branch so maybe the community centres in that district aren't capable of the task idk!
can you insure the key money part of a deposit, say 5000 만 , and comment on the process if you know anything and if you can be turned down for this insurance if the property is sketchy/too old? I'm not talking about the Seoul automatic insurance but a private broker
Unfortunately I am not familiar with housing insurance in Korea, so I cannot comment on that... I have always protected my deposit through the local community center, as described in the video!
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