How do I find a property that is suitable for purchase as a long-term home?

The path to the right property: strategies and criteria

1. Analysing your needs: the specifications

Before you even open the first advertisement to buy a flat, you need to define your priorities. Many people who buy a flat make the mistake of searching too broadly. Create a clear specification and distinguish between "must-have criteria" and "nice-to-have criteria".

Ask yourself critically:

• Space requirements: How many rooms do you need today, and how many in 10 years? If you want to buy a flat, think about family planning or a home office.
• Type: Do you want an urban flat or a house in the countryside? Buying a flat in the city often means shorter distances, but more noise.
• Condition: Are you looking for a turnkey new build or an existing property with renovation potential? If you want to buy an older flat, you will need to budget for renovations.

A clear definition will focus your search. If you want to buy a flat, a detailed search profile will save you time and hassle during viewings.

2. Set your budget and secure financing

Without secure financing, the plan to buy a flat is a risk. Before you fall in love with a property, you need to know your budget. Calculating is a must if you want to buy a flat. Take into account not only the purchase price, but also the ancillary purchase costs (notary, land registry, transfer tax) and any renovation costs.

A chat with your bank will clarify your affordability. Tip: Get a financing certificate or proof of financing. If you want to buy a flat, this often gives you a decisive advantage in sales negotiations over competitors who also want to buy the flat. Sellers prefer interested parties who can prove that they can buy the flat.

3. Location: micro and macro factors

The old estate agent's adage "location, location, location" still applies in Switzerland. When you buy a flat, you are always buying the surrounding area as well. A good location ensures long-term value growth, which is essential if you want to buy a flat as an investment.

Pay attention to the following aspects:

• Micro location: What is the noise level like? How much sunlight does it get? If you want to buy an apartment, visit the neighbourhood at different times of the day.
• Macro location: How high is the municipal tax rate? What are the transport links like (public transport and private transport)? This is crucial for commuters when buying a flat.
• Infrastructure: Are there schools, shopping facilities and doctors nearby?

Think cyclically: a place that is attractive to singles may not necessarily be suitable for families. If you want to buy a flat for the long term, check the flexibility of the location.

4. Check the substance and condition

First impressions count, but the second impression determines whether you should buy the flat. With existing properties, it is often worth taking a building expert with you for a second viewing. As a layman, you often overlook hidden defects when buying a flat.

Pay attention to:

• Energy efficiency: Is there a GEAK (cantonal energy performance certificate)? If you want to buy an apartment, bear in mind that poor insulation means high follow-up costs.
• Renovation backlog: When were the heating, roof or windows last renovated? If you want to buy a flat, you need to know whether expensive investments are due soon.
• Condominium ownership: If you want to buy an apartment that is part of a community, check the renovation fund. Is there enough money for roof renovation? If you want to buy an apartment, you also buy the community's debts if the fund is empty.

5. Avoid legal pitfalls

When buying a flat, trust is good, but control is better. The land register extract is the most important document when you want to buy a flat. Check easements (e.g. rights of way, rights to build nearby) and liens.

When buying a flat, it is essential that you read the minutes of the last three owners' meetings before you buy the flat. They will tell you a lot about the atmosphere in the building. Are there any disputes between neighbours? If you want to buy a flat, you want to move into a harmonious environment. The regulations of the condominium owners' association are also required reading if you want to buy an apartment. Are pets allowed? Are you allowed to barbecue? Clarify this before you sign the contract and buy the apartment.

6. Long-term perspective and resale value

A home is an illiquid investment. If you want to buy an apartment, think about resale. Even if you plan to stay there forever, life can change (divorce, job change). A property that is easy to resell is the better choice if you want to buy an apartment.

Ask yourself: Is the floor plan flexible? Can walls be removed? Is the flat suitable for older people or can a lift be installed? If you want to buy a flat that will also work in old age, pay attention to accessibility. A thorough location analysis will protect you from your dream home becoming a cost trap after you have decided to buy the flat.

Conclusion

The path to home ownership requires patience, discipline and strategy. If you want to buy an apartment successfully, you have to do your homework: clarify your needs, secure financing and put the object of your desire through its paces. Don't be blinded by beautiful facades, but pay attention to substance, location and legal details when you want to buy an apartment. Only then will the property become a real home and a solid investment.

If you need assistance in searching for or evaluating a property, Loft can help you make the process efficient, secure and stress-free.

Glossary

• Condominium: A form of co-ownership in which you have the special right to exclusively use and renovate certain parts of a building (your flat) when you buy a flat.
• Renovation fund: A financial reserve fund set up by the owners' association for future renovations (roof, façade, heating). An important indicator if you want to buy an apartment.
• GEAK: Cantonal building energy certificate. It shows the energy efficiency of the building envelope and building services and helps you to estimate energy costs before you buy an apartment.
• Easement: A right entered in the land register (e.g. right of way) that may restrict the use of the property. Important to check if you want to buy an apartment.
• Affordability: The ratio between your income and the running costs of the property. The bank checks this strictly before you can buy a flat.