Real Estate in Yongin, Korea
Last updated on Jun 05, 2023
Summary: People living in Yongin, Korea offer advice about real estate. How do you find a home in Yongin? Should you buy or rent? What is the cost of housing?
How do I find a place to live in Yongin?
We asked expats how they chose their neighborhood and found a place to live. They answered:
"Finding a place to live in Yongin involves several steps. First, you need to determine your budget and the type of accommodation you're looking for. This could range from a small studio apartment to a larger family home. Next, you should research different neighborhoods in Yongin to find one that suits your lifestyle and needs. Consider factors such as proximity to work or school, access to public transportation, safety, and the availability of amenities such as shops, restaurants, and parks. Once you have a clear idea of what you're looking for, you can start your search. There are several online platforms where you can find listings for rental properties in Yongin, such as Zigbang, Naver Real Estate, and Craigslist Seoul. These websites allow you to filter results based on your preferences, and you can view photos and details of the properties. Another option is to hire a real estate agent, or "budongsan," who can help you navigate the local property market. They can provide valuable advice, arrange viewings, and assist with the negotiation and contract process. When you find a property you're interested in, arrange a viewing to inspect the condition of the property and the surrounding area. If you decide to proceed, you'll need to negotiate the terms of the lease, including the rent and the deposit amount. In Korea, it's common to pay a large deposit, or "jeonse," which is typically equivalent to 50-80% of the property's value. However, there's also the "wolse" system, where you pay a smaller deposit and monthly rent. Once you've agreed on the terms, you'll sign a lease agreement. Make sure to read it carefully and understand all the terms before signing. Finally, you'll need to set up utilities and internet, and then you can move into your new home in Yongin," remarked one member in Yongin.
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About the Author
Betsy Burlingame is the Founder and President of Expat Exchange and is one of the Founders of Digital Nomad Exchange. She launched Expat Exchange in 1997 as her Master's thesis project at NYU. Prior to Expat Exchange, Betsy worked at AT&T in International and Mass Market Marketing. She graduated from Ohio Wesleyan University with a BA in International Business and German.
Some of Betsy's articles include 12 Best Places to Live in Portugal, 7 Best Places to Live in Panama and 12 Things to Know Before Moving to the Dominican Republic. Betsy loves to travel and spend time with her family. Connect with Betsy on LinkedIn.