Set a Budget Beyond the Home Price
Set aside emergency funds first, then budget separately for acquisition tax, brokerage fees, registration costs, moving expenses, and repairs. The deposit and interim-payment percentages vary by contract, so do not treat them as fixed formulas. Make sure your monthly housing costs—loan principal and interest, maintenance fees, property tax, insurance, and repair costs—remain manageable within your income.
Review Official Data and the Property in Person
Compare actual transaction data with nearby listings, then inspect commute times, noise, sunlight, leaks, and parking in person. Do not make a decision after just one visit; if possible, visit at different times of day. If repairs or facility conditions mentioned by the seller are not written into the contract, they may be difficult to prove later.
Check Ownership Rights and Building Conditions
Use the Internet Registry Office’s property register to check ownership, mortgage liens, provisional seizures, and other property rights, and issue an updated copy again just before the final payment. Check the building register on Government24 to confirm the actual use and whether the building is marked as non-compliant. If the documents are unfamiliar or the rights are complicated, ask the licensed agent and judicial scrivener for an explanation.
Compare Loans Before Signing
LTV, DSR, and policy-loan requirements vary depending on the region, income, property, and your existing holdings. Search for candidates using the Korea Housing Finance Corporation’s mortgage finder, and consult multiple financial institutions using the same conditions. Pre-consultation is not final approval, so discuss with a professional how to handle loan denial and consider adding a relevant special clause to the contract.
From Signing the Contract to the Final Payment
Review the purchase price, payment dates, handover date, facility conditions, and special clauses, and do not leave any blanks in the contract. On the final-payment date, the recheck of property rights, loan execution, key handover, and title-transfer registration all need to align. Agree in advance with the financial institution, agent, and judicial scrivener on the transfer sequence and required documents to reduce confusion on the day.
Check Benefits and Taxes Under the Latest Rules
Programs such as first-time homebuyer acquisition-tax reductions and the Bogeumjari Loan may change in eligibility requirements and limits, including income, home price, and owner-occupancy conditions. Do not finalize your budget using outdated rate tables or figures from blog posts. Immediately before signing, check the conditions and application documents that apply to you with the Korea Housing Finance Corporation, your local government, or Government24.