It can be really exciting buying a new home, but you need to be aware that joining the property market can be expensive – and is often very stressful. Saas-Fee is a high altitude traditional traffic-free village in a dramatic setting – a popular resort in Switzerland. If this is where you want your new home to be here are 10 things you need to know before buying your own property in Saas Fee:
1. Access your personal credit file
Before you get in touch with an adviser or lender you need to ensure that your credit score is acceptable – you’ll also need to be registered on the electoral roll and have an up-to-date address history. Employer’s references may be needed – if you’re self-employed you’ll be required to supply two or three years of audited accounts.
2. Speak to a financial adviser
An independent financial adviser or your bank will tell you exactly how much you can afford – and what type of mortgage will suit your situation. Remember you’ll need to factor in any additional charges such as the deposit, and you’ll have to open a bank account in your destination country. Costs of buying abroad can be 10% higher.
3. Do your research
Decide on your property in terms of location and then look into natural hazards like flooding, pollution, and hostility from the locals. Spend some time in the area to explore both in and out of season. Learn how the home buying process works abroad – two key priorities are that the property has a clean title and that the ownership is undisputed.
4. Identify your property
Make a list of your dream property – then identify what you really need. Be realistic as this will save a lot of time when home hunting. Don’t forget to ask questions such as how long the Saas Fee property for sale has been on the market, about the property history, and the neighbouring community. If you’re buying from a developer you’ll need to establish the planning status.
5. Register with a local estate agent
When you need professional help simply get in touch with Tobias Zurbriggen – the Saas Fee real estate expert. You’ll get all the advice and support you need with regards to purchasing a property. The agency specialises in property for sale in Saas Fee – apartments, chalets, hotels, and land. And the agency rents out more than 80 apartments and chalets in the area.
6. Be prepared to compromise
Once you know how much you can afford you can search the internet for a property that meets your budget. Moving slightly further away from your desired area may bring you more for your money. Get help with looking for Saas Fee property for sale from your real estate agent.
7. Employ a surveyor
Before you sign anything make sure you get a thorough property inspection – this can save you thousands of pounds in the long term.
8. Find a good solicitor
As well as the notary that acts on your behalf aboard you may also want to hire your own solicitor to ensure your interests are fully represented.
9. Put mortgage in place
Don’t leave your mortgage to the last minute – you may need to obtain official permission to buy abroad – the waiting time may be a few months.
10. Arrange insurance
At the point of exchange you’ll need to have your insurance in place – this covers you for any unforeseen problematic circumstances – it really pays to ask for advice.
If you’re investing in a rental property you’ll need to be really focused on the financial elements and consider:
- The expected amount of rental income
- The annual expenses both fixed and variable
- The risks of the property sitting empty
- Potential problems with bad tenants