Lake Geneva, the Alps and the appeal of the Vaud Riviera municipalities make the region highly sought after. But a property purchase must be assessed on technical, financial, legal and tax criteria, not just on a gut feeling.
1. Compare the price with the market
Location, orientation, condition, area, view, floor and building characteristics all influence the price. Compare with genuinely similar properties.
2. Have your financing capacity assessed
Equity, income, debts and lenders’ criteria must be analysed before signing any commitment. An agreement in principle can be useful, but does not replace a final decision.
3. Examine the condition of the building
Inspect the roof, façade, heating, insulation and damp. For condominium ownership (PPE), ask for the accounts, minutes, renovation fund and information on planned works.
4. Budget for ancillary costs
In addition to mortgage costs, allow for transaction fees, maintenance, insurance, running costs and any renovations.
5. Study the legal documents
An extract from the land register, easements, rights of way, restrictions and condominium regulations may limit the use of the property. Specialist legal advice may be necessary.
6. Factor in taxation
Property ownership can affect cantonal and municipal taxation. The deductions and rules that apply to a possible resale should also be anticipated.
7. Plan for how the financing will evolve
The choice between a fixed-rate mortgage, SARON and other structures must take account of interest-rate risks, your holding horizon and your tolerance for fluctuations.
Cross-disciplinary support
Onebiz Solutions brings together real estate, financing, insurance and taxation to inform decisions upstream.
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Each property and each situation requires individual checks.