What do I need to know to buy a house in Switzerland?

To establish Switzerland as your permanent residence with your family, purchasing your own house there is a significant step. The choice to buy a house necessitates thorough investigation and planning, taking into account location, cost, eligibility, and the potential for expansion. The following are a few things to think about when purchasing a home in Switzerland.

Locating the ideal residence to purchase in Switzerland.

Choosing to purchase a house is a long process. Since Switzerland is regarded as a top location for real estate investments, many Swiss people spend the majority of their early lives saving money for a home. You must carefully weigh each of the following as an expat.

How would you describe the Swiss real estate market?

The housing market in Switzerland is, in general, very steady and consistently priced. It is possible to purchase any kind of housing. In 2019, the percentage of homeowners passed the 33% mark for the first time, and many Swiss residents who currently rent homes or apartments are doing so once their leases are up.

Which shops in Switzerland should I visit?

Many people opt to reside close to the Swiss cities even though each canton (county) has advantages of its own. Due to the concentration of foreign companies in the major cities, this is mainly because employment opportunities for expats are close by. As part of your employment agreement, some of these businesses provide subsidies for housing in particular areas. It’s important to choose the right place for you and your family, and it’s a good idea to think about things like the distance to public transportation, nearby childcare centers, and schools.

The necessity of having money, a mortgage, and residency.

The taxes, fees, and costs associated with buying a home in Switzerland must be taken into account. Because there are additional taxes to pay when buying a home in Switzerland, such as income tax on the rental value of your home, mortgage requirements are particularly stringent. Considering the price of health insurance and any additional taxes, ask yourself if you can afford the price of your ideal home in Switzerland with your current job. Additionally, it is advised to look for additional income streams like gifts, pension savings, loans from friends, and inheritance.

Additionally, you need at least a Swiss B-residence permit to buy a home as an expat. These are given to long-term residents of Switzerland and are given automatically if your work contract is for a period longer than a year, but it’s crucial to make sure you meet the requirements for buying a house.

Swiss services.

You will be in charge of paying for your own utilities once you become the proud owner of your own home. Make sure the property has been registered for electricity and water before you move in, whether you did it or the previous owner did. Naturally, finding the quickest Internet service provider in your area is also crucial given the nature of modern life.

Self-registration in your Swiss municipality.

Your local council (Gemeinde) must be notified of your move as part of changing your address in Switzerland. Your Gemeinde serves as the hub of the neighborhood, offering services for local transportation, waste collection, and social gatherings to foster neighborhood cohesion. Verify the local Gemeinde’s friendliness toward foreigners before choosing your home in Switzerland. Participating in one of the many English-speaking clubs in your community can be a great way to begin the naturalization process for Swiss citizenship.

Top recommendations for purchasing a home in Switzerland.

It’s crucial to pick the appropriate house for your needs when looking for your ideal home. Here are some top recommendations for choosing the ideal home for you because you will be there a lot.

• Confirm with your banking provider that you are qualified for a mortgage.
• Be sure to speak with your real estate agent directly; they might have new listings that haven’t been made available to the general public.
• Remember Switzerland’s “number of rooms system.”. The living room, dining room, bedroom, and lounge all fit into one space. 5 rooms are used for storage, bathrooms, and laundry. The size of a property is typically not affected by balconies.
• Ask all the questions you want; your real estate agent may be an expert on the neighborhood.
• Take your time and only visit two to four properties per day when viewing.
• Estimate the cost of any renovations you might want to perform.
• Take as many photos as you can, and bring a measuring tape to check whether your furniture will fit.
• Even though the majority of Swiss homes are sold empty, you can inquire if the seller will furnish them for you in exchange for a higher price.