'I've already scouted the best units and lake views': A Seongdong-gu homeowner's plan to move to a top school district

"I'm happy with life as it is now. But I'm already preparing to move to a top school district before my child starts elementary school."

On Kang's computer sits a list of more than 20 apartment complexes he wants to upgrade to when the right opportunity comes. The lesson he drew from his earlier experience — buying the then-undervalued Geumho Doosan apartment after meticulous on-site research — was simple: those who prepare are the ones who land the best distressed listings. So even after securing his own home, he and his wife still make a routine of visiting complexes they have their eye on, doubling the trips as dates, to identify the most desirable units and lake-facing buildings in each development. He collects the information and updates a dedicated file regularly.

After more than a decade in Seoul, Kang has finally achieved the residential stability he long sought. So why is he already thinking about moving again?

A product of a top school district, Kang speaks from experience

The biggest reason is his desire to raise his child in an environment with a strong academic culture and a like-minded community. Kang knows firsthand what a good school district can do. Growing up in North Gyeongsang Province, he attended a prestigious regional high school and spent his teenage years in one of those sought-after academic communities. More than half of his graduating class went on to universities in Seoul. When he moved to the capital at 20, he already had a wide circle of friends who could share both the hardships and the pleasures of city life.

"I don't need my child to get into Seoul National University," he said. "I just want to create an environment where they grow up around people who are also trying to grow in a positive direction. School districts tend to attract people with similar goals and values." Reflecting on his own path, he added that the friends he made during his school years — most of whom eventually settled in Seoul — gave him a strong foundation in the city. "Having close friends who had already bought homes in places like Mapo-gu and Songpa-gu made it easy to get both motivation and advice when it came to buying real estate," he said.

Kang's preparations for an eventual upgrade also have a longer horizon: securing his financial footing for retirement.

To protect assets against economic shifts such as monetary expansion, and to live stably in the home of his choosing at the time of his choosing, he believes wealth must grow at a rate well above inflation. Popular apartments in prime residential areas — the three Gangnam districts, Yongsan-gu and similar neighborhoods — are, in his view, South Korea's quintessential "safe assets," satisfying both the need for a place to live and the need for investment returns.

That is why living in a brand-new apartment right now is not a priority for the couple. Even though they have the assets to buy a new development on the outskirts of Seoul, they believe staying in an older, well-located apartment for at least the next decade is the more effective long-term strategy for growing their wealth.

'A new Seoul apartment is the gift we want to give ourselves in our 50s'

"Every family has different preferences for what kind of home they want and where," Kang said. "For us, the goal is to stay focused on our careers and live in an older apartment during our working years, then move into a new one after we turn 50. It's a gift we want to give ourselves for all the hard work — and more importantly, we think it's better to spend this period building the cash flow that will let us comfortably own a high-value apartment by then."

Since their child was born, the couple has opened and actively managed a dedicated account in the child's name.

They contribute 100,000 won ($75) a month from their discretionary budget and use the monthly child-care allowance they receive to buy overseas exchange-traded funds, steadily building up a pool of future education funds. The goal is to ensure that child-related expenses do not significantly disrupt the household's finances. "The idea is to minimize the impact that raising a child has on our retirement and financial lives," Kang said of why they started managing the account so early. "When the child is older, we plan to teach them how to earn through part-time work and how to manage their own income."

The couple also has an annual financial ritual they have kept up every year since getting married. Each year, from Dec. 31 through Jan. 1, they sit down together to review the past year's spending and budget, then map out a plan for the year ahead. "We both enjoy making plans, so we actually look forward to that time," Kang said. "Seeing how much our assets have grown over the year gives us a real sense of achievement, and we celebrate what we built together by each writing down five bucket-list items for the new year."

What Kang wants to pass on to his child

Kang spent more than 15 years living in single-room rentals before marriage brought him to a Seoul home now worth around 1.7 billion won ($1.27 million). Yet the asset he most wants to leave his child is not the apartment itself. What he values most, he said, is the process of building wealth together as a family.

"I started out with very little, but I met my partner and we have consistently grown our assets together," he said. "It was possible because we each took on our own roles without leaning on each other, created synergy, and both had the desire to keep growing." He added: "Buying a home is one of the biggest challenges you face in life, but it isn't everything. I want to show my child, through the way we live, what it looks like when a couple works as a team to build both wealth and happiness — and I want to pass on the confidence to build a good life in any circumstances."

Kang's advice to young people dreaming of owning a home

Finally, Kang was asked what advice he would give to young renters who dream of buying a home amid rising prices. As someone who has been through it, he offered the following:

"First, if you don't have a lump sum to start with, I'd recommend cutting spending as much as possible to build a base. The common advice to save your first 100 million won is a classic example. Developing the habit of skipping one overseas trip, ten leisure outings, a few expensive clothing purchases — that builds your financial instincts and the basic stamina to handle money.

"Second, a salaried worker's greatest asset is creditworthiness. If your monthly income can sustain the leverage, buy the best home you can afford. It's hard to jump straight into the 1 billion won range with your first purchase, so you need the eye to spot undervalued properties in high-demand areas. That's exactly why scouting in person beforehand is essential.

"Third, for your first home, choose a complex with active transaction volume. Ultimately, growing your assets requires being able to sell at the right time and upgrade at a good price — so picking a home that others will want to buy matters. Even when opportunities arise, such as expanded lending or falling prices, you'll be stuck if you can't sell your current place.

"Fourth, avoid jeonse in a newly built apartment if you can. I learned from experience that buying an older apartment and paying down the principal is four times faster a path to building wealth than trying to save while renting a new one.

"Fifth, the strategy of living in an older, less comfortable home while waiting for future price appreciation only works if it's somewhere your partner and children can endure alongside you — not just you alone. Keep that in mind when you choose. That's the only way your family can hold on through the wait while still finding small joys in everyday life."