YOUR HOMEBASE IN LIFE.
YOUR OWN PRIVATE SPACE AND PLACE.
Services around real estate ownership.
In advising clients with questions around real estate, my emphasis is about working out suitable decisions for each individual situation. In order to have an independent and adequate basis for decision making, the following questions are at the centre of my considerations:
- How do you fulfill the conditions of purchasing a property?
- How do you negotiate the best mortgage interest rate?
- How to decide about a property in case of divorce?
- What is the right decision for you if you have received real estate in an inheritance?
- When an inheritance is to be split between multiple partners, what is the best way to approach the newly acquired assets for all parties involved?
- Should you sell or reinvest?
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Sell or rent: what is better?
By chance I was invited to view a house. The property in question was a plot and building in Meilen – an old row house in “flarz” style from the year 1748 not far from the Zürichsee with a view to the lake and the mountains and had been inherited by a teacher from Wintherthur. She felt overhelmed by this inheritance and it produced disagreements between her and her husband.
As their homebase was in Baden, it was out of the question that she would want to use the property herself. As they were actually living in a rented property with a short term lease, they very much wanted their own property. The sale of the inherited property raising money for the purchase of their own flat in Baden was under discussion. Clearly a sensible decision. Especially for the heir herself. However over a coffee after the viewing she then told me about all the lovely childhood memories linked with her great aunt’s house and it was increasingly clear that it was difficult for her to part from it. On the other hand she felt pressured to make a „sensible“ decision that would take into account not just her own wishes but would be a good, objective decision with regard to the generation of family income and pension provision.
I developed an estimate to help with the decision taking into account the various options such as a sale or renovating and renting out. Thanks to these calculations the couple was able to make a mutual decision which also made sense when the transaction actually came about. The house remained within the family and was renovated and then rented out.
Better conditions when taking an expert to the bank appointment
A single mom had, instead of alimony payments, received a lump-sum payment from her ex-husband. She had decided to buy a property in order to invest a part of the assets and generate a rental income. Overwhelmed by the multitude of considerations surrounding this purchase, she retained my services and I was able to advise her as to the economic viability of the purchase. Furthermore with regard to the mortgage interest rates, she felt intimidated by the banks and I accompanied her to an appointment during which the offer was reviewed and considerably improved by the bank representative.
Dream of your own house: better not wait but start planning right now
A middle aged couple had long wished to have their own property but kept dismissing it due to the high real estate prices and the small amount of capital. Several times I had drawn their attention to the fact that their assumptions did not necessarily conform to the reality of the situation and that we could only be sure after looking at the actual facts.
After a one hour consultation it emerged that the chances for realicing the dream of their own home were not at all bad. An appointment at their bank gave some clarity. Apparently only a little while before the conditions for lending had changed and their available capital was no longer sufficient. Now constant saving efforts are needed over a longer period the couple to still be able to realize their dream of owning their own home. If the couple had not, over many years, given in to their assumptions they would probably already be within their own four walls.