Why are brokers really pushing for mortgage brokers?
Buying a property - what should you watch out for?
This website is intended to help you make the right thoughts before you consider buying a property. However, buying a property is such an important decision for most that it is worthwhile to use various media to find out more. Before starting the project, it is important to draw up a checklist of which "housing needs" can be covered and how. The books "The way to own home" by the observer and "Your own four walls" by Ktipp are recommendable in our opinion and give a good overview. You can find more information about the books here:Observer: The way to owning a home Tip: Your own four walls
Spar + Leihkasse Riggisberg AG: Checklist "Our dream of our own home" Various ZKB checklists
In our opinion, the Spar + Leihkasse Riggisberg and the ZKB have created good checklists. They make these available free of charge on their websites:
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"We would be happy to calculate for you in detail which property you can afford in the long term and which optimization options - for example with regard to taxes - are available in your situation."
Graphic: Important steps when buying a property
Calculator: Calculate the real estate yield Calculator: Calculate the maximum purchase price of the real estate investment
If you want to buy a property for investment purposes, you will find further information here:
In our opinion, the most important points when buying a home are as follows:
Clarify needs exactly
At the beginning you should be aware of which property meets your needs in the first place. It is about medium and long-term planning of your future. A checklist can help you not to forget anything. If it is created with a partner or with the whole family, it encourages anticipation of the home and, based on the discussion, it can be found out which dreams can be fulfilled and where compromises have to be made. At the same time, financial leeway and an absolute maximum amount for a property should be clarified and defined. If you don't know how much you can afford, you should seek neutral advice. Not to be forgotten: Many brokers and banks are not neutral - they make money primarily from brokering or selling mortgages, and not from advice. More information can be found here:Mortgage advice - what should you watch out for? Why commissions with mortgage brokers can create conflicts of interest
It is not uncommon for you to fall in love with a property just based on the photos from the advertisement. There is also a lot of marketing involved when selling real estate. A good broker knows exactly which photos arouse interest and which negative facts do not belong in the sales prospectus. Therefore, always visit the property with as few prejudices as possible. Put the property through its paces using your checklist. What is often forgotten: the location of the property is particularly important. Many other details can also be changed later. Not the location. Attention must also be paid to solar radiation, noise emissions and much more. It can therefore be useful to have an inspection on different days of the week and at different times. Fall in love with the property, not the details.
Assess the quality of the property
Not everything that glitters is gold. This also applies to real estate. Above all, check the quality of the materials used and the appropriateness of the installations. Just because a property has been repainted and cleaned well does not guarantee good construction quality. Perhaps the seller has only invested the bare minimum in order to make a good first impression with his property. Or worse, to hide any defects. It can be worthwhile to call in a specialist - for example an architect. This is particularly advisable if a property is older or if it is to be converted or renovated after purchase.
The price of a property can be derived in different ways. In the end, however, the price that someone is willing to pay for a property can be asked for. Perhaps a very financially strong prospect has also fallen in love with your dream property. In this case, you should clearly know what price you want and can go up to. Despite, or even precisely because of, the free-playing market, it is important to check the amount of the purchase price. Factors such as location, view, tax rate, emissions and much more determine the price. In many cases - depending on the market situation - the price of the property can also be negotiated. If you are unsure, you should ask for a neutral estimate. An appraiser from the region can be commissioned for this purpose. So-called hedonic estimates are also becoming more and more widespread.
Take your time
In most cases (except for auctions, for example) you have enough time to find out more and then to decide. Salespeople who are pushing for the quickest possible deal often have something to hide. Also check the excerpt from the land register for any encumbrances on the property. It is also worth checking the properties in the area. Otherwise, in the worst case scenario, in a few years your beautiful view will be obscured by an apartment building that does not yet exist.
Get advice if necessary
Most of the time you only buy a property once in a lifetime. So you have little experience, while the seller (or his broker) is often professionals. Therefore, if you feel unsure, you should seek professional advice. This can be particularly advisable for older objects or objects for lovers.
Once you have found the dream property, it is important to finance it properly. Which own funds should be used? How high should the mortgage be, which amortization makes sense and which is the right mortgage model? These and many other questions need to be clarified. You can find more information on this under the following links:Choosing the right mortgage amountWhich is the right mortgage strategyWhich amortization makes senseHow do I get the best interest rate - it pays to negotiate
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