In Switzerland, the costs involved in buying a property can vary according to region, property type and age. However, certain costs are common to all property purchases.
Here are the main costs to consider when buying a property in Switzerland:
Notary fees
Notary fees are compulsory fees paid to the notary who draws up the deed of sale. The amount of these fees is set by law and varies according to the property and region. On average, they amount to between 4% and 5% of the property price. These fees include the cost of the mortgage and the deed of sale, i.e. the cost of the registration (or transfer) fee, the cost of registration in the land register, and the notary's fees.
Building insurance costs
When you buy a property, you must take out homeowner's insurance. This insurance protects you in the event of damage to your property. The amount of the insurance premium varies according to the value of the property and your risk profile
Maintenance and repair costs
As the owner, you will also be responsible for the maintenance and repair costs of your property. These costs may vary according to the age of the property and its state of preservation. On average, maintenance costs are taken into account by banks at 1% of the property's value.
Property tax costs
Property taxes vary from canton to canton and municipality to municipality in Switzerland. Don't forget to find out about the tax rates in force in the region where you wish to buy your property.
Moving costs
Don't forget to budget for moving costs, and storage if necessary. These costs may vary according to the distance to be covered and the volume of items to be moved.
Other taxes
For example, if you withdraw funds from your 2nd or 3rd pillar to finance your property, you will have to pay tax on the amount withdrawn.
Buying a property in Switzerland is a major investment, and involves additional costs that should not be overlooked. To avoid unpleasant surprises, it's crucial to plan ahead and factor all these costs into your overall acquisition budget. Take the time to find out about the various expenses you'll be facing.
Call on our team to advise or help you!
