it's been a little over a month since i moved into the new place. 6th floor, 1 bed, 1 bath. perfectly sized for a single gal like myself. it's conveniently located in cheongdam-dong within a 5-10 minute walk from all my favorite stores, movie theaters, eateries, public transportation, etc. i would say it's comparable to the gold coast or river north neighborhood of chicago and i love it!
the best part about the apartment is that i don't have to pay rent! you heard right! NO RENT! i obviously pay the monthly assessment fee and utility bills but other than that, nada. no monthly rent! during my house hunt here i discovered something awesome about korea's renting system. this may be the one thing i absolutely love about korea!!! they have the normal monthly rent system like we do back in the states but they also have a system where you pay a lump sum (key money), sign a 1-2 year contract, and then receive the original entire lump sum back at the end of your lease period. yup! true story. so all you lose are opportunity costs (which, with the economy being the way it is, doesn't really mean much). that lump sum can be anywhere from $50,000 and upwards. it all depends on neighborhood, house size, etc. so, yes, my parents paid my key money and now i have a place where i don't have to worry about the burden of paying monthly rent. yay me! awesome korean key money system for the win!
i decided to post pictures of the place because it's finally starting to come together and it actually looks like someone lives there. i know it's a bit sparse but this is a HUGE improvement from before! i just got my couch last weekend and the coffee table didn't arrive till a few days ago. i've also ordered a small dining table to fill up this awkward space i have in between the kitchen and living room space (not pictured because i am embarrassed). oh yea, the place also came furnished with a flatscreen tv and surround speakers. awesome.
the best part about the apartment is that i don't have to pay rent! you heard right! NO RENT! i obviously pay the monthly assessment fee and utility bills but other than that, nada. no monthly rent! during my house hunt here i discovered something awesome about korea's renting system. this may be the one thing i absolutely love about korea!!! they have the normal monthly rent system like we do back in the states but they also have a system where you pay a lump sum (key money), sign a 1-2 year contract, and then receive the original entire lump sum back at the end of your lease period. yup! true story. so all you lose are opportunity costs (which, with the economy being the way it is, doesn't really mean much). that lump sum can be anywhere from $50,000 and upwards. it all depends on neighborhood, house size, etc. so, yes, my parents paid my key money and now i have a place where i don't have to worry about the burden of paying monthly rent. yay me! awesome korean key money system for the win!
i decided to post pictures of the place because it's finally starting to come together and it actually looks like someone lives there. i know it's a bit sparse but this is a HUGE improvement from before! i just got my couch last weekend and the coffee table didn't arrive till a few days ago. i've also ordered a small dining table to fill up this awkward space i have in between the kitchen and living room space (not pictured because i am embarrassed). oh yea, the place also came furnished with a flatscreen tv and surround speakers. awesome.
the bathroom was a big selling point for me. it was one of the main reasons why i decided to go with this place (aside from the great location and 1 bed/1 bath layout). the shower system has those crazy body jet sprays and it's also a jacuzzi! i've actually never used either of these features, but it's nice to know that i have the option!
last, but not least ... my bedroom!!! that space above my bed was so pathetic and empty before i decided to put up all those polaroid pictures i took.
this place is finally starting to feel a bit like home ever since i found a place to call my own. come visit me people!!! i have plenty of floorspace for everyone! =)