Introduction
Before applying for a housing lottery, it's essential to thoroughly understand the housing announcement. Not only does it provide details about the apartment's location, size, and area, but it also contains information about eligibility criteria and payment methods.
Key Terminologies: Gross Area, Net Area, Shared Area, and Contract Area
- Net Area: This refers to the basic area where you'll actually live, such as the bedroom, living room, kitchen, and bathroom. It doesn't include the balcony, which may vary in size.
- Shared Area: This is the space shared with other apartments, like the main entrance, staircase, hallway, and elevator. These shared areas can further be categorized into residential and other shared areas.
- Gross Area: This includes both the net and shared areas and is usually the figure mentioned when talking about the apartment's size.
- Contract Area: This includes all of the above and must be explicitly mentioned in the contract. If the area mentioned in the contract is larger than the actual area, you have the right to demand a price adjustment.
The Confusion about Balcony Space
You might be wondering where the balcony fits into these categories. Interestingly, the balcony is considered neither net nor shared area. It's often referred to as 'service area,' which isn't included in the pricing, hence sometimes called 'free area.'
Converting Square Meters to "Pyeong"
Though areas are officially measured in square meters (㎡), you'll often hear people use the term "pyeong." One pyeong equals approximately 3.3058㎡ or commonly rounded to 3.3㎡.
What is "Bay" in Housing?
The term 'Bay' refers to the number of spaces in an apartment that are directly adjacent to the balcony. A 2-Bay apartment would have a living room and one bedroom adjacent to the balcony. A 3-Bay would have two bedrooms along with the living room. However, higher Bay numbers aren't always better; they may result in smaller rooms and inefficient use of hallway space.
Understanding "Danghae"
'Danghae' refers to local residents in the construction area of an apartment. In competitive housing applications, preference may be given to these local residents.
Conclusion
Understanding these terms can help you make informed decisions while applying for housing, ensuring that you get an apartment that meets your needs and expectations.
Understanding these terms will help you make more informed decisions when applying for housing or studying real estate, thereby ensuring you find an apartment that truly meets your needs and expectations.
By familiarizing yourself with these terms, you can navigate the complex world of housing with greater ease. Whether you're applying for a new apartment or simply curious about real estate, a solid understanding of these terms can go a long way.