Mario, after this video I have a feeling we're a family. Letting me take a peak into your finances and your home. When can I come for a housewarming party? 🎉
The English word you're looking for at about 4:25 is "appraiser" who "appraises" the house. An "appraisal" is an opinion of the value of that specific property. Congrats on the house, Mario!
Fascinating to hear the purchase costs Mario, although the figures are mind boggling. Your fixed mortgage is a great idea. Prior to starting the purchase of my house (some 30 years ago) the interest rates had been 15%+. So I fixed the mortgage for many years (at a much lower rate) to "buy" security and it was well worth it. Your renovation plans are exciting and it will radically improve your house. Good luck with all the work in the months ahead. 🙂
Well done, you paid much less than I guessed, and now own a house and the car infrastructure, rather than renting. It has a lot of potential, congratulations!
But, one question. Two years ago I was thinking about living in CH, it really looks like in poster cards, it is totally not fair fot the countryside to look that pretty and I was daydreaming on property sale sites. Back to my question. Why not buy land, and build your dream garage, with a bedroom attached? You mentioned in the previous post that land is expensive, but the plot size still is 200k cheaper than with the house, and almost 300k with the renovation.
It’s very difficult to find buildable land in Switzerland. You might see a lot of “empty” fields in Switzerland but by law they can only be used for agriculture or forests. And construction is also expensive and hindered by a lot of regulations.
Also, land you need to buy outright, you cannot put a mortgage on it. With somewhat liveable, buildable land near actual civilization starting at CHF 500.-/m2 a 1000m2 plot would cost at least half a million. That you have to pay with your own money. If in a more urban zone you easily end up paying a million (or more) just for the land. And then you have to build. With all the headaches, permits and objections you can face. Building easily takes another 500k and you can face long delays if objections come in or god forbid a rare bird species is found nisting on your plot and the wildlife protection agency gets involved.
@@swisscarguy ok, same issue here, in Ro. You can't mortgage land, permits usually take a year, you need 26 different documents, the actual house ends up costing 35 to 100% more than projected, and it takes longer to finish. I ended up doing the same thing, bought a house and renovated. still with all things done, I wish I would have waited to start from scratch, or demolish and rebuild (if the bank allowed). it might have been, if not for sure cheaper, then better. ok, enjoy the house and the garage, it's a nice place you have there!
Thank you for sharing all those details and your reasoning, especially on the financial part. I like that you just get rid of the parts you don't like, instead of trying to keep the rustic character of the house. Good choice :)
A few updates during renovation would be interesting. I think your plans are solid, in a small space every bit of floor space you can free up will yield a lot of benefit. To this American, the renovation cost sounds as-expected, outside of the heat pump (unless they’re proposing a geothermal one?). And yes, lesson learned, I’m 43 and in my house for 13 years and still suffering with rose colored tile and elderly looking paint colors and all - and my 90yr old father lives with me…I should have renovated before we moved in as disruption is now impossible! Oh well.
Im looking forward to any updates. Here in NZ the laws are all being changed to allow homeowners to do much more work themselves. This would have been great twenty years ago 😊. Love the plans. You are turning it into your home so dont worry what other people think.
Sounds great, Mario. I'm in the middle of completely renovating my house, so a few thoughts for you. Cat 8 cable is overkill, it is very thick and rigid so it's difficult to run. I'm using Cat 6a with 10GBs fibre between floors. The price for the heat pump is crazy, I think I paid €20k for mine including all plumbing. For lighting I have a mix of LED spots and LED strip lights which are all controlled by KNX automation. Given that you are living in a "rough" area, perhaps an alarm system and security cameras? Best of luck with your project and please do a few updates on progress.
Hope you gonna read my comment so I’m putting important stuff first - Be aware of floor in the first floor. I remember from your previous video that this floor is creaking and shaking while you walk on it. It looks like floor is made old school from wooden boards on wooden beams that form structure of the house as well. Why I’m writing about it? While I understand why are you leaving first floor way it is for now I also salute you for doing reconstruction work proper way to avoid later regrets and even bigger expenses later on. Be careful about floor/ceiling structure as it may not be possible (Depending on exact construction type) to make things right or/and may get much more expensive when you finally get to the first floor renovation. Imagine that ground floor is perfectly done to your liking costed you significant amount of money and you have to re-do some it due to renovation of first floor. As it is very often while doing renovations trying no to destroy some part of house that will stay - it costs more money than being built from the scratch but quality and functionality is compromised and something that supposed to stay is damaged from renovation works (like scratched tiles, dented kitchen etc.). Not saying that it is 100% your case. Just want to make you aware from my experiences. Otherwise big congratulations on the house. Looks like great buy actually. Even though you’re doing some costly changes you are still profiting from the fact it’s fairly new house and also from the fact you haven’t paid new build price. I remember that few times people thought I overpaid for properties. I didn’t cared what they thought but obviously I’m not going to call myself real estate master so it made me think. After not a long time after I was reassured by market, real estate’s experts and even by those who were saying I overpaid that I didn’t. Many just have difficult time to see real prices (everything is expensive for them and they are not buying anything never even though they technically could) and also can’t see potential of property. What can be done cheaply and easily and will improve property rapidly it’s not coming to their mind. While they are amazed when it’s done. Don’t get stopped by those people. Years ago I bought two wine cellars for very little money. Many said it’s worthless purchase. Nowadays value is up 7 times. Not bad considering it was just 2017. I bought garden to extend my current garden behind my house in 2021. Many said it’s too expensive for my village. This was end of summer 2021 right before prices went rapidly up. Nobody thought same about overpaying few months later or ever since. Few family members didn’t understand how I could’ve bought building land with forest and illegal skip on it even though they agreed it’s cheap but they thought it’s cheap for that reason. Not much of work and even less money was required and now it’s spacious peaceful but still easily reachable building land that is valued for 5 times more and same people appreciate place. Some people can spot potential some cannot. Same as many other things. Nobody’s good at everything. Anyway can’t wait to see renovated house but most importantly- smaller projects in and around the house you’ll be doing by yourself.
Thanks for the input. I will have the contractor check that the second floor isn't actually compromised. Otherwise, you're right, it needs to be fixed now.
It was not cheap, but you seem to be happy and now you know why you get up in the morning. I like your renovation plan. Careful with leaving the upper floor untouched for now. This could be a very costly mistake, talk to a pro about it. Also check the wood heating if it works or not, if it is problematic, I would change some priorities, you do not want a freezing house in winter.
The second story is basically no issue and can be done separately. My contractor said it, too. The heating works, I fired it up to test it once. And last winter they fired it, too on roder to keep the house from freezing over (even though it was a very mild winter).
Mario J Trump, up and coming swiss real estate mini tycoon. You will need to work on the mysterious orange skin tone and comb over tho... I kid, great purchase! Looking forward to seeing more.
It is a lot of work (and a lot of money), i am looking forward to se the result. Specially your new kitchen, then you maybe will show some new recipes.
Sorry if the question is inappropriate, but what is "Taalbärg"? Congrats again on the acquisition, don't forget to reach me out if you plan to rent one the garages. 😁😁😁
You have made the right choice even though it breaks the back and the bank. I don’t like the tax levied on zero mortgage as it seems totally Orwellian. I suppose it helps to maintain the Ponzi debt system.
I love in Turkey. Since last 5 year we are living in hyper inflation thanks to the our government. Anyway. For home ownership, anything below 2% annual is good investment for buying good house. Just after the covid I brought my home around 1.5m in Tr Lira. All of my friends told me I'm dumb. Just imagine like this: if the inflation will go high, also networth of house will go up more than inflation. Having your yearly payments fixed is a good thing. Thanks to the high inflation in TR (I hate to say... ) , Now my home gained 5x value with near negligible payments monthly. Congratulations for your new home. It is a good investment in every aspect. My house is 50/50 hardwood + ceramic tiles. My wife and myself decided while renovation. This is the biggest mistake. Just use ceramic tiles. They are better.
Insurance with comprehensive coverage is about a grand a year. Tax is 40 bucks as it shares the number plate with my Lexus. Otherwise it would most likely be CHF 1600 a year.
![I Bought A House in Switzerland [House Tour]](http://i.ytimg.com/vi/HTfNcthoPdw/mqdefault.jpg)
![I Bought A House in Switzerland [House Tour]](/img/tr.png)
![How expensive was it to own a 1991 Mercedes 500 SL? Total Cost of Ownership [TCO]](/img/n.gif)
Dude is made of money...
Forget about using the wood elevator for cables. You need a Batpole for quick car access!
I like the personal finance content of this video, especially the wildly different real-estate and tax practices in Switzerland vs the US!
Mario, after this video I have a feeling we're a family. Letting me take a peak into your finances and your home. When can I come for a housewarming party? 🎉
Not before October. 😅
Bjorn Nyland needs to have a chat with you. Great reasoning and purchase. Enjoy the house!
The English word you're looking for at about 4:25 is "appraiser" who "appraises" the house. An "appraisal" is an opinion of the value of that specific property. Congrats on the house, Mario!
Fascinating to hear the purchase costs Mario, although the figures are mind boggling. Your fixed mortgage is a great idea. Prior to starting the purchase of my house (some 30 years ago) the interest rates had been 15%+. So I fixed the mortgage for many years (at a much lower rate) to "buy" security and it was well worth it. Your renovation plans are exciting and it will radically improve your house. Good luck with all the work in the months ahead. 🙂
Well done, you paid much less than I guessed, and now own a house and the car infrastructure, rather than renting. It has a lot of potential, congratulations!
But, one question. Two years ago I was thinking about living in CH, it really looks like in poster cards, it is totally not fair fot the countryside to look that pretty and I was daydreaming on property sale sites. Back to my question. Why not buy land, and build your dream garage, with a bedroom attached? You mentioned in the previous post that land is expensive, but the plot size still is 200k cheaper than with the house, and almost 300k with the renovation.
It’s very difficult to find buildable land in Switzerland. You might see a lot of “empty” fields in Switzerland but by law they can only be used for agriculture or forests. And construction is also expensive and hindered by a lot of regulations.
Also, land you need to buy outright, you cannot put a mortgage on it. With somewhat liveable, buildable land near actual civilization starting at CHF 500.-/m2 a 1000m2 plot would cost at least half a million. That you have to pay with your own money. If in a more urban zone you easily end up paying a million (or more) just for the land. And then you have to build. With all the headaches, permits and objections you can face. Building easily takes another 500k and you can face long delays if objections come in or god forbid a rare bird species is found nisting on your plot and the wildlife protection agency gets involved.
@@swisscarguy ok, same issue here, in Ro. You can't mortgage land, permits usually take a year, you need 26 different documents, the actual house ends up costing 35 to 100% more than projected, and it takes longer to finish. I ended up doing the same thing, bought a house and renovated. still with all things done, I wish I would have waited to start from scratch, or demolish and rebuild (if the bank allowed). it might have been, if not for sure cheaper, then better. ok, enjoy the house and the garage, it's a nice place you have there!
Thank you for sharing all those details and your reasoning, especially on the financial part.
I like that you just get rid of the parts you don't like, instead of trying to keep the rustic character of the house. Good choice :)
A few updates during renovation would be interesting. I think your plans are solid, in a small space every bit of floor space you can free up will yield a lot of benefit. To this American, the renovation cost sounds as-expected, outside of the heat pump (unless they’re proposing a geothermal one?).
And yes, lesson learned, I’m 43 and in my house for 13 years and still suffering with rose colored tile and elderly looking paint colors and all - and my 90yr old father lives with me…I should have renovated before we moved in as disruption is now impossible! Oh well.
Congratulations Mario! Your new home and all of your remodeling ideas are amazing.
"are lawyers and dentist coming to install the heatpump?" :D Swiss standards! ;)
Im looking forward to any updates. Here in NZ the laws are all being changed to allow homeowners to do much more work themselves. This would have been great twenty years ago 😊. Love the plans. You are turning it into your home so dont worry what other people think.
Sounds great, Mario. I'm in the middle of completely renovating my house, so a few thoughts for you. Cat 8 cable is overkill, it is very thick and rigid so it's difficult to run. I'm using Cat 6a with 10GBs fibre between floors. The price for the heat pump is crazy, I think I paid €20k for mine including all plumbing. For lighting I have a mix of LED spots and LED strip lights which are all controlled by KNX automation. Given that you are living in a "rough" area, perhaps an alarm system and security cameras? Best of luck with your project and please do a few updates on progress.
Hope you gonna read my comment so I’m putting important stuff first -
Be aware of floor in the first floor. I remember from your previous video that this floor is creaking and shaking while you walk on it. It looks like floor is made old school from wooden boards on wooden beams that form structure of the house as well.
Why I’m writing about it? While I understand why are you leaving first floor way it is for now I also salute you for doing reconstruction work proper way to avoid later regrets and even bigger expenses later on.
Be careful about floor/ceiling structure as it may not be possible (Depending on exact construction type) to make things right or/and may get much more expensive when you finally get to the first floor renovation. Imagine that ground floor is perfectly done to your liking costed you significant amount of money and you have to re-do some it due to renovation of first floor. As it is very often while doing renovations trying no to destroy some part of house that will stay - it costs more money than being built from the scratch but quality and functionality is compromised and something that supposed to stay is damaged from renovation works (like scratched tiles, dented kitchen etc.).
Not saying that it is 100% your case. Just want to make you aware from my experiences.
Otherwise big congratulations on the house. Looks like great buy actually. Even though you’re doing some costly changes you are still profiting from the fact it’s fairly new house and also from the fact you haven’t paid new build price.
I remember that few times people thought I overpaid for properties. I didn’t cared what they thought but obviously I’m not going to call myself real estate master so it made me think. After not a long time after I was reassured by market, real estate’s experts and even by those who were saying I overpaid that I didn’t. Many just have difficult time to see real prices (everything is expensive for them and they are not buying anything never even though they technically could) and also can’t see potential of property. What can be done cheaply and easily and will improve property rapidly it’s not coming to their mind. While they are amazed when it’s done.
Don’t get stopped by those people.
Years ago I bought two wine cellars for very little money. Many said it’s worthless purchase. Nowadays value is up 7 times. Not bad considering it was just 2017.
I bought garden to extend my current garden behind my house in 2021. Many said it’s too expensive for my village. This was end of summer 2021 right before prices went rapidly up. Nobody thought same about overpaying few months later or ever since.
Few family members didn’t understand how I could’ve bought building land with forest and illegal skip on it even though they agreed it’s cheap but they thought it’s cheap for that reason.
Not much of work and even less money was required and now it’s spacious peaceful but still easily reachable building land that is valued for 5 times more and same people appreciate place.
Some people can spot potential some cannot. Same as many other things. Nobody’s good at everything.
Anyway can’t wait to see renovated house but most importantly- smaller projects in and around the house you’ll be doing by yourself.
Thanks for the input. I will have the contractor check that the second floor isn't actually compromised. Otherwise, you're right, it needs to be fixed now.
Love the new clean modern look for this house.
It was not cheap, but you seem to be happy and now you know why you get up in the morning.
I like your renovation plan. Careful with leaving the upper floor untouched for now. This could be a very costly mistake, talk to a pro about it.
Also check the wood heating if it works or not, if it is problematic, I would change some priorities, you do not want a freezing house in winter.
The second story is basically no issue and can be done separately. My contractor said it, too. The heating works, I fired it up to test it once. And last winter they fired it, too on roder to keep the house from freezing over (even though it was a very mild winter).
Well done on your new house and the journey ahead.
Best wishes from South Africa..
Interesting insight into Swiss Tax Law! Congrats again :)
You got a really good interest rate. We just bought in California, 7%.
For a little bit more money, you could have kept the Phaeton and slept in that. I kid. Congratulations on the house!
Great video I like you plans. Keep us updated.
Mario J Trump, up and coming swiss real estate mini tycoon. You will need to work on the mysterious orange skin tone and comb over tho...
I kid, great purchase! Looking forward to seeing more.
It is a lot of work (and a lot of money), i am looking forward to se the result. Specially your new kitchen, then you maybe will show some new recipes.
Sorry if the question is inappropriate, but what is "Taalbärg"? Congrats again on the acquisition, don't forget to reach me out if you plan to rent one the garages. 😁😁😁
Apparently it's the name of the area 🤷🏼♂️
You have made the right choice even though it breaks the back and the bank. I don’t like the tax levied on zero mortgage as it seems totally Orwellian. I suppose it helps to maintain the Ponzi debt system.
I love in Turkey. Since last 5 year we are living in hyper inflation thanks to the our government. Anyway. For home ownership, anything below 2% annual is good investment for buying good house. Just after the covid I brought my home around 1.5m in Tr Lira. All of my friends told me I'm dumb. Just imagine like this: if the inflation will go high, also networth of house will go up more than inflation. Having your yearly payments fixed is a good thing.
Thanks to the high inflation in TR (I hate to say... ) , Now my home gained 5x value with near negligible payments monthly. Congratulations for your new home. It is a good investment in every aspect.
My house is 50/50 hardwood + ceramic tiles. My wife and myself decided while renovation. This is the biggest mistake. Just use ceramic tiles. They are better.
1.5m in Lira isn't that bad. Nowadays stuff cost 6 million Lira (simple Condo in Istanbul for example).
@@SwissMarksman exactly!
Nice background sponsored by Freixenet 🇪🇦👍😉
How much does the Firebird cost you to maintain (road tax and insurance)?
Insurance with comprehensive coverage is about a grand a year. Tax is 40 bucks as it shares the number plate with my Lexus. Otherwise it would most likely be CHF 1600 a year.
Mario,
You might need to modify your UTube channel as a Swiss guy with a cars & house.