You’ll never know if you never ask... or just read our FAQs if you prefer! This time around, we take a closer look at financing and taxes for renovations. Whether it's owning a condominium, sussing out subsidies or deep-diving tax deductions: we’ve compiled all the questions homeowners had on these topics – complete with answers from our professionals.
Yes, you are free to use pension fund assets to invest in renovation, whether for preserving or enhancing value.
It depends on how big your property is. But the Swiss Property Owners Association recommends targeting at least 5-10% of the building insurance value for your renewal fund.
With an online mortgage calculator, you can research financing freely in every sense, with no charge levied and no obligation either. This applies, regardless of whether you have already found your dream property or simply want an idea of what is affordable. So why not experiment with a range of variables and test-drive various scenarios!
Ultimately, securing the flow of financing is key and this is a process best regulated within the scope of a cohabitation agreement. We recommend arranging an interview with a succession specialist at your bank.
Your place of residence determines your eligibility for subsidies and their amount. The Building Program website, meanwhile, lets you know how much funding you can obtain for your project. It also includes full details of how to apply for the grants.
In many cantons, payments you make towards a renovation fund are tax-deductible for owner-occupied dwellings, provided they are used to fund maintenance. However, no further deduction for effective expenses is then allowed.
Photovoltaic systems are tax-deductible as a general rule. This includes the costs of operating and maintaining the systems, as well as acquiring them in the first place.
Yes, that is certainly possible. Provided the 78 criteria included in the Minergie standard are met as a result of energy consumption improvements made, the Minergie label can be applied to the property.
As the owners, you will be included in the assessment and the mortgage will also be transferred to you. The law dictates that it is the beneficiaries who bear the cost of ordinary maintenance. This includes all ancillary costs as well as periodic and ongoing repairs, such as maintaining paths and pipes. Beneficiaries also have to cover the mortgage interest and insurance premiums, although these amounts are tax-deductible as a general rule.
The Commission is currently discussing the abolition of the imputed rental value, whereupon the matter will return to the National Council. Whether agreement will be reached is unclear, so it is still impossible to say when and whether the imputed rental value will actually be scrapped.
You should definitely get your project off the ground now, since planning, approval and obtaining offers take considerable time. Expect it to take around nine months at least.
What would you like to know about financing and taxes for your modernisation project? Let us have your questions! We are more than happy to answer any questions received, some of which we may even include in a new round of FAQ.
What would you like to know about financing and taxes for your modernization project? Send us your questions! We will be happy to answer the questions received and perhaps even include them in another round of the FAQ.