According to the Swiss Federal Statistical Office, in its 2013 survey, owners state they are more satisfied with their homes than renters. 9 owners out of 10 are really happy with their homes versus 7 renters out of 10. Let’s take a look at the reasons why an ever-increasing number of people state they are “satisfied” that they became homeowners. Figures prove and real estate experts confirm that the current trend in Western Switzerland is to “purchase” property. Whether it is for reasons related to lifestyle or to the design of the home, to a sense of belonging to a specific place, and even to the capital gain generated by reselling, investing in property appeals much more to Western Swiss people than renting.
A reflection of your personality
What could be more personal and intimate than your own home? Probably nothing. And, this is why most people really want to personalize their homes as much as possible. When you become a homeowner, a world of opportunities awaits you: you can knock down walls, build new ones (if accepted by the other co-owners/freeholders, of course), furnish your living space to suit your lifestyle and your vision of interior design, right from the moment you buy your property, without having to consult a landlord.
And when the first signs of wear appear, you don’t need to inform anyone, you are free to renovate as you please and choose the materials and colours that suit you best. Having a home that truly reflects your personality is basically another step forward to freedom, a notion that is very important for us, judging by the number of Western Swiss residents who have chosen to become homeowners.
Rent money: is money forgone...
When you rent a property, the money you pay every month is money out, forgone, as opposed to money spent on purchasing your own property, which is considered as an investment. So, the question is worth asking: why boost the wealth of a third party when you can go for a lucrative investment? In any event, one thing is clear: by purchasing property, you move forward progressively towards a long-lasting possession, you build your future as well as your family’s future.
Develop your patrimony
By purchasing property, you are making a lucrative financial investment and you are contributing to developing your patrimony. In comparison with volatile, erratic stock markets, property investment is a smart move and will thrive over time.
It is also an excellent way for financially preparing retirement thanks to “controlled” savings. Property that is rapidly sold at its fair market price, when entrusted to experts, can represent a significant amount of money which your future heirs will be able to share.
The perfect stepping stone for other opportunities
Your first property purchase could be the biggest investment you will ever make, it goes without saying, and this is what probably makes it so important and special for you. Yet, it would be a shame to stop there. Your first property purchase could also be the perfect stepping stone for a second investment in bricks and mortar that is rather more significant, bigger, smaller or better tailored to your needs and your current situation.
By reselling your property with its appreciation in value after a few years, you will create the financial resources required to make a different investment which could become the basis for another new investment, and so forth. Becoming a homeowner is, therefore, also a way to invest and make a profit in a safer, more effective manner than that of many other types of investment instruments.
A lucrative financial transaction
Today, purchasing property is a transaction that has become much more lucrative thanks to historically low rates. Market prices have been brought into line with this reality and list figures that are much lower than in the past. In a region like ours where the percentage of vacant properties stands at just 0.96% (difficult to find the property of your dreams in such a context), it would be a great pity not to take advantage of this trend to purchase property. Moreover, the figures bear witness to this and many of you are aware of this situation.
A study carried out by the Crédit Suisse Group (page 22) has also illustrated that housing costs are lower for homeowners than for renters. Basically, renting is more expensive. Today, Switzerland only totals 31% of homeowners compared with other European countries that stand at between 50 and 70%. In the light of current conditions, we can logically expect to see a significant increase in the percentage of homeowners over the coming years.
In conclusion, deciding to purchase property is a lucrative financial option that will improve year after year and will generate a capital gain every time. It is also one of the bastions of what could be the inheritance that you will bequeath to your family, as well as representing an essential basis for your family’s serenity. For these reasons, and many more, an ever-increasing number of Western Swiss people are happy that they have become homeowners.