Make your dream of owning a home come true
Would you like to buy a home in Switzerland, or renovate a home you have recently bought? Unfortunately, renovating a home – or even buying one in the first place – is not that easy to achieve, at least not if you don’t know exactly how best to go about it. When buying or renovating a home in particular, there are a number of rules and laws you need to know. Otherwise you may find that you never actually get to buy your home or renovate it.
This article is designed to help you think carefully about your potential home and make renovating it a little easier.
Because only if you plan this project properly will you end up with a home in which you feel comfortable for the long term and which also serves as part of your retirement provision.
Buying a home
Before you can renovate your home, you obviously first need to own a property in which to carry out your renovation project.
When it comes to buying a home, Switzerland has different – and in some cases stricter – rules than its neighbouring countries. It makes no difference whether it is a terraced house, a detached house or an existing house. The first important point is financing. Full 100% financing, i.e. buying a home without any equity, is not permitted in Switzerland – or rather, no bank will give you a loan.
You need at least 20% of the property’s purchase price as equity, and of these 20%, 10% must come from savings. The other 10% may come, for example, from investments such as private pension provision. These 20% equity are therefore the minimum, the lower limit you must be able to show. It would be better still if you have more than 20% equity.
Another important point is amortisation: within 15 years, and at the latest by retirement, the mortgage must be reduced to two thirds of the lending value. This is done either directly or indirectly via pillar 3a (Säule 3a). The bank also checks whether your home is affordable on your income, so you will need to provide detailed proof of it. Otherwise you will not be granted a loan for your home.
Other costs to consider for your home
Before you can even think about renovating your home, you should be prepared for further costs that become due when you buy the house. These include notary fees and estate agent fees; the costs vary from canton to canton in Switzerland. You should also budget for land registry fees and the property transfer tax (Handänderungssteuer, payable on the transfer of ownership; the rate depends on the canton, and some cantons do not levy it at all).
Insurance for your home is also essential. It is also worthwhile if you are planning to renovate your home. One of the most important policies is buildings insurance (Gebäudeversicherung), which covers damage caused by fire and natural hazards such as floods, storms or hail. It is compulsory in most cantons, so find out about the rules in your canton in advance.
Depending on your furnishings, household contents insurance (Hausratversicherung), which covers damage to movable items such as furniture, may also be worthwhile. Pay attention to the sum insured: it should cover the total value of your home, so if you are planning a renovation, for example, you should have this sum checked and adjusted regularly. Building water damage insurance (Gebäudewasserversicherung) is worthwhile because not all water damage is covered by buildings insurance. It covers damage to the building that is not caused by flooding or high water – for example, defective water pipes in the house, or rain, snow or meltwater getting into the house.
Also look into personal liability and building liability insurance, for example in case a visitor falls on a poorly lit staircase or roof tiles damage a parked car. Legal expenses insurance can be an advantage if, for example, you want to let your home, so that you are prepared for disputes with tenants.
Renovating your home: the costs you can expect
When renovating your home, you not only need to know exactly what you want to change, but also be clear about the costs involved. Renovating your home is not just about feeling good in it; it also helps you meet new requirements, for example in terms of energy-efficient renovation. A renovation can drastically reduce your consumption and energy costs.
You can also create step-free access if you want to adapt your home so that you can live there comfortably in later life. When renovating your home, budget at least 15% of the purchase price. Structural work and material costs play a major role in any home renovation. Find out in advance how you can finance the renovation costs. For example, you can take out a low-interest mortgage loan to renovate your home. In addition, the state supports certain renovation measures with subsidies.
Renovating your home with the help of professionals
If you want to renovate your home, you should above all do so in collaboration with professionals – architects, structural engineers and skilled tradespeople. After all, a home renovation may require approvals or a building permit application (Baueingabe) to the authorities – requirements you could hardly know about on your own, but which are of course mandatory.
It is also crucial to get advice on the structural integrity of the house, for example if walls are to be removed during the renovation in order to enlarge the living room.
You can also have the planning carried out by the professionals at umbaumanager.ch, the house renovation company. Our skilled team knows exactly which pitfalls to watch out for and which approvals you will need, for example. You also don’t need to worry about choosing the right tradespeople, as umbaumanager.ch provides them for you. The tradespeople’s work is checked regularly so that everything turns out the way you want it.
Your home renovation: everything from a single source
Whether it’s the initial consultation, the planning, the actual work of renovating your home or the necessary documents and building permits: umbaumanager.ch makes sure your home renovation runs smoothly and that all the necessary regulations are complied with. Start by getting an overview on the umbaumanager.ch website, for example through our helpful guides and other information. You can submit a no-obligation enquiry about your building project or home renovation by filling in the form step by step.
Next, the umbaumanager.ch team will get in touch with you personally to discuss your wishes. You then have the opportunity to visit showrooms in a town near you and get concrete plans and examples in the exhibition area. Of course, our experienced staff will also visit your home to see the condition of the house for themselves and plan the renovation in concrete detail.
Throughout the entire renovation process, the umbaumanager.ch team is there for you, answering your questions and clearing up any uncertainties. Progress on site is also meticulously monitored and documented. With umbaumanager.ch, you can follow the progress of your project online via the platform, together with the tradespeople involved. That is what makes umbaumanager.ch so special and different – so that you can soon realise your dream of a renovated home.
