Those who own their own home and are already older, may want to throw off ballast and replace their lavish house with a garden, for example, with a spacious apartment. In doing so, it is important to avoid pitfalls when selling the home.

Just like the purchase, the sale of a property is an important event for most homeowners, with a lot of money at stake. The sale has far-reaching financial consequences. It should therefore be well prepared. Clarifying important aspects at an early stage helps to ensure that the sale is handled optimally and that the best possible price is achieved.

Preliminary clarifications are important

Generally, it makes sense to study the local property market and similar transactions before selling, in order to get an idea of realistic sales proceeds. Various digital real estate platforms offer a good overview of the situation. With digital valuation and calculation tools, an initial theoretical value of the property can be determined quickly and easily based on a property analysis.

Sell by yourself, or rather with a broker?

"As a first step on the way to selling a property, those willing to sell must clarify whether they want to sell their residential property by themselves or commission a real estate agent to do so. Those who want to handle the sale on their own should have sufficient time and appropriate expertise in legal and contractual issues," advise the real estate experts from the Swiss residential property platform Liiva, a joint venture between Raiffeisen and Mobiliar. And they continue, "An agent usually costs 2 to 3 percent of the sale price, but he not only helps to find out the sale price, find a buyer, draw up contracts and handle the sale, but also provides valuable local know-how, a network of interested parties as well as advice and experience."

Are the proceeds needed to purchase another property?

Points to consider are time flexibility, and whether the sale proceeds are required to purchase another property. "If the sale does not have to take place as soon as possible, it is possible to wait for the perfect buyer, for whom everything is right and who is therefore willing to pay a higher price. If the sale is pressed in time, price reductions may have to be expected," the experts know.

Is it still worth investing before selling?

They also advise to consider whether and what renovation work needs to be done before the sale: "Is the installation of a new kitchen worthwhile, as it will enhance the residential property and allow a higher price to be achieved? Or will the new owners want to make major changes themselves anyway? ".

Do not forget about taxes and fees

Worth pointing out, are the taxes incurred with the sale: "Real estate gains taxes are incurred, which are usually paid by the seller. Depending on how long the property was owned by the selling party, this tax amount can be very high, especially for inherited properties, and can vary greatly from canton to canton. "They list other taxes and fees, such as the transfer of ownership tax, land registry fees, the transfer of promissory notes, and other expenses incurred with the sale. And they emphasize, "costs are incurred if mortgages are repaid early, which can also play a role in the timing of the sale. "

Would you rather rent out the property?

For the experts, it is also worth considering whether the property should be kept and rented out - providing that the financial situation allows this. "This option is costly, but depending on the location of the property, it can be a very good capital investment. However, such a decision requires a holistic view of the financial situation, current needs and retirement planning. This also applies to the use of the sale proceeds, which in most cases are considerable," say the experts.

Decisions must be made by the owner himself

The decision as to whether the residential property should be sold at the highest price, as quickly as possible or specifically in a socially responsible manner, can only be made by the owner himself or herself. The experts advise: "Local experts can make a significant contribution to making the right decision and achieving the best result.