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Buying a home in Switzerland: the insider tips you need to know

Switzerland is a wonderful country to discover, explore and to settle in. Increasingly, international workers are choosing to purchase a property there. Together with Swiss mortgage specialist Hyppo.CH, we look at some of the challenges this raises.

Buying a home in Switzerland: the insider tips you need to know
Photo: Getty Images

So you’ve decided that you want to buy a home. You’ve looked at a few neighbourhoods, you’ve done some research and you’re ready to take the plunge. So what now?

Hyppo helps expats in Switzerland secure their dream property with mortgage advice – find out more

Recognize the differences

While there are differences between every country when it comes to mortgages, there are some particular quirks that you might not be aware of.

For example, mortgages are structured over a much longer period than you may be used to – 50 years being fairly common. Indeed, mortgages are often passed on from generation to generation! One benefit of these longer mortgage periods is that you get some pretty spectacular interest rates.

On the other hand, if you come from certain countries and have not yet secured residence, you may need to apply for a special buying permit to purchase a property.

If you use a home financing tool such as Hyppo, which has a keen understanding of the mortgage market in Switzerland, you will often find that you have more buying power than you think.

When it comes to buying a property in Switzerland, your purchasing power may be far higher than you think. Learn more with Hyppo.

Know what you’re working with

Speaking of affordability, Switzerland’s flexibility with how you’re able to fund your mortgage means that putting together a deposit may be one of the easiest steps in the process.

For example, Switzerland allows you to fund your mortgage with your pension fund. While there are many in their early stages of their career who won’t have accrued enough for an entire deposit, it can be the difference between purchasing a good and a great property.

Hyppo walks prospective homeowners through a series of carefully devised questions, in order to gauge exactly what financial resources they have – even if they might not be aware of them yet. From there, Hyppo is able to present them with a potential offer.


Pic: Getty/fotoVoyager

Organize your paperwork

Obtaining a mortgage can be a complex process, with many steps and lots of paperwork. As a country where three languages are spoken, and cantons with differing requirements for home ownership, it can seem almost impossible.

This means that you will need to keep immaculate records of every step in the mortgage acquisition process – you will often be asked to show proof of various things, and this will mean a lot of back and forth between you, the bank and lawyers.

If you opt to optimize your mortgage with Hyppo, much of the pain of this part of the process can be removed. As one of the first digital mortgage specialists in the country, they can walk you through every step in the process and help you keep everything in order. You’ll be able to refer to them for specialist assistance at any stage from start to finish, and you’ll have more time to do the important stuff – such as getting to know your new neighbourhood.

Best of all, with Hyppo, there is no financial obligation during the inquiry process, and you’ll work with them knowing that they’re specifically designed to assist international professionals in the same position as you.

Take the next step and begin your Swiss property purchase with Hyppo

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LIVING IN SWITZERLAND

Checklist: What you need to do if you move house in Switzerland

Moving from one house or apartment in Switzerland to another is not as simple as just packing up your furniture. Instead, the process involves quite a few administrative tasks.

Checklist: What you need to do if you move house in Switzerland

Anyone who has ever moved, whether in Switzerland or elsewhere, knows it is not just a matter of simple logistics.

In fact, whether you are relocating to another town or canton, or just to another neighbourhood, moving is a big, expensive, time-consuming, and stressful experience.

These are various tasks you will have to cross off your list, one by one.

Getting your old apartment in order

It goes without saying that before you move out, you must make sure to leave the place clean and in order. Most people hire a cleaning company to do so, though you can, of course, do this yourself.

If, for instance, you broke or damaged anything while living in the apartment, you must repair it before you leave.

The condition of the apartment will be assessed during the final inspection process, when the landlord or the management company will write down all damages which you are responsible for either repairing yourself or paying someone else to do it for you.

You are not officially off the hook with your previous landlord until this process is completed.

De-register your old address and register the new one

Whether you are moving across the country or just across the street, this is an obligatory step.

You must let your ‘old’ commune’s population office (Einwohnerkontrolle / Contrôle des habitants/ Controllo abitanti) know you are leaving, and from which date.

You can do so either in person or (if available) online.

Then, when you settle in a new home, you have 14 days to announce your arrival in your new municipality, though in some places the deadline may be longer.

You will need the following documents:

  • A passport or ID card for each member of the family, in addition to a passport-sized photo for everyone
  • Documents relating to your family status — whether you are single, married, and with children
  • Your work or residency permit 
  • Your lease contract or proof of home ownership
  • Your health insurance card or proof of your current health insurance policy.

The rules are the same regardless of where you arrive from, that is, if you are Swiss, an EU citizen or from a third country, however the supporting documentation may vary. 

Some cantons may require other or additional documents, which you can find out ahead of time on your commune or canton’s website.

READ ALSO: Why you need to tell Swiss authorities where you live 

Inform the post office about your change of address

To ensure that your mail arrives at your new home, fill out the ‘change of address’ form online at least four days before your move. 

Four days is a minimum required time for the post office to process the address change and register it in the electronic database.

If you wait longer, your mail will continue to be delivered to  the old address.

You also should notify these companies of your move and new address:

  • Your mobile telephone / internet provider (if you still have a fixed phone, you should have it switched off at the old address and re-activated at the new one)
  • Your bank
  • Your insurance companies (health, car, and any other ones you have, both mandatory and optional)
  • Your doctor / dentist

If you forget to inform anyone of your new address, no worries — the post office will automatically forward the letters to you, provided your notified them of the change (see above).

What about the tax office?

You don’t have to do a thing.

Your local commune will automatically inform tax authorities of your move, so there is no chance whatsoever that they won’t find you.

Rental versus owned property

If you move into a rental property, you don’t need to, in most cases, notify utility providers like the electric company of your move.

But if you are going to live in your own house, then you must let the local power company know to switch on your electricity supply.
 

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