alex_wilde
Homeowner
The part I cannot pin down is how much cash must remain untouchable once all the purchase money has gone out. The property is a 3-bed townhouse in Seoul at about ₩296,700,000, and my estimate leaves me with ₩28,980,000 after the deposit and closing costs.
That sounds like a decent cushion until I list the first-year demands: moving, essential defects, service charges, an insurance excess and the first mortgage debit. Furniture can arrive gradually, but repairs found during the inspection may not be optional.
Would you set the emergency reserve first and use only the remainder for those other costs? I am also interested in which findings—water ingress, wiring, roof issues or something else—would justify either enlarging the repair allowance or deciding the purchase is too close to my limit.
That sounds like a decent cushion until I list the first-year demands: moving, essential defects, service charges, an insurance excess and the first mortgage debit. Furniture can arrive gradually, but repairs found during the inspection may not be optional.
Would you set the emergency reserve first and use only the remainder for those other costs? I am also interested in which findings—water ingress, wiring, roof issues or something else—would justify either enlarging the repair allowance or deciding the purchase is too close to my limit.