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Although the majority of the population in Switzerland rents, the dream of owning their own home is right at the top of the list of life goals for many people. A private house purchase is therefore a big step for many people, which needs to be carefully considered and calculated. With these 10 steps, you can make your dream of owning your own home come true:
1. Check your financial situation
A financial check is the basis for purchasing your own home in Switzerland. The available equity capital is usually not sufficient and the difference is covered with a mortgage. You are well advised to check your financial situation with your main bank before searching for your own home.
2. The search for your dream house
When searching for a house to buy in Switzerland, you don’t just need to know about your own financial framework. Alongside the price, what other criteria should your house fulfil? Perhaps you are dreaming of a property on a large plot with a garden in a quiet location for yourself and your family, or maybe you would prefer a new home in a central location. Whether a detached house or an owner-occupied apartment, our articles under “Buy” offer you assistance. Once you have collected all of your criteria, you can start looking for your house in Switzerland on property platforms such as newhome.ch.
3. Your first decision after the viewing
Once you have checked the offer and enquired about one or more properties, you should carefully study the sales documentation. If a house still meets all of the criteria, it’s time to experience it live. A viewing generally makes or breaks the decision to buy a property. Make a note of relevant questions about the property, location and neighbourhood in advance.
4. Collect detailed information about the house
If you’re still feeling enthusiastic about the house after the first viewing, a second viewing accompanied by an expert or building surveyor is recommended. They are best placed to assess the condition of the house and offer you advice on the price, possible renovations, restoration and conversions. Especially for new houses, construction defects can be identified at an early stage. Looking at the extract from the land register also offers you clarity on existing easements, land charges, comments and reservations. Also find out when the house can be handed over to you. The contract of sale and handover date are often further apart than desired.
5. Negotiate the price
If all of the arguments speak in favour of the house, you can either accept the offer price straight away or enter into price negotiations. Depending on the number of other prospective buyers, it is worth lowering the price with good arguments.
6. Clarify your financing
Once you have agreed on a purchase price, arrange a second meeting with your bank to discuss the financing in detail and receive the necessary financing confirmation (Which is the right mortgage for you?). Your bank will also check that the additional costs, such as additional purchase costs, notary costs and land transfer tax, can be covered.
7. Your contract of sale is drafted
Once the purchase price and financing have been clarified, you and the seller can have the contract of sale drafted by a notary. We recommend that you have the draft contract of sale checked by a third party, such as your bank or a lawyer.
8. Notarial certification of your contract of sale
Notarial certification of the contract of sale is required for the sale/purchase of the house to be legally valid. Both you as the buyer and also the seller personally attend the appointment with the notary. By signing the contract of sale, you are committed to paying the purchase price and the seller to handing over the property once the payment is received. The notary arranges for the conveyance reservation in the land register to legally protect the transfer of ownership.
9. Pay the purchase price – your entry in the land register
To transfer the purchase price, your bank requires the written request to pay the purchase price, which it received from the notary during the notary appointment. Once the seller confirms that payment has been received, you are entered as the owner in the land register. The purchase process is complete.
10. Finally arrived – Moving in once the keys are handed over
You have already discussed when the keys can be handed over with the seller in advance. Allow sufficient time for this and carefully check whether any defects have occurred in the meantime. A handover report and photographic documentation of possible defects can be helpful here. You can find helpful information for when you finally move into your home in our Advisor under “Move”.
Congratulations on owning your new home.