What to expect in terms of additional costs associated with owning or buying a property in Verbier, with thanks to Agence Freddy Michaud for the information.
The purchase deed expenses charged to the purchaser amount to about 2.3% of the price including the notary's fees and registration duties. The purchaser may choose any notary. The brokerage fee owing to the property broke is paid by the seller.
Such expenses include those for the porter's lodge, heating, insurance premiums, electricity bills for common premises, snow sweeping, administration of the joint-property, corporate expenses, sewage fees, and renovation funds. They amount to about CHF 50.– / m2.
These amount on average from CHF 50.– to CHF 70.– / m2 of the apartment for an old property and from CHF 70.– to CHF 90.– / m2 for new property.
Owners pay a sojourn tax to the Tourist Office, amounting to CHF 2.50 per overnight stay for adults and to half of this amount for children. An annual flat-rate amount may be agreed: CHF 100.– per adult, and half of this amount for a child from 6 to 16 years old.
For fire and water damage insurance coverage of the real estate, an annual expenditure from CHF 200.– to CHF 400.– should be considered, in accordance with the insurance coverage.
Personal electricity consumption is billed to the owner on the basis of the data indicate on his/her personal meter.
Water and drains
The basic fees for water and drains are invoiced directly to the joint-owners.
On request, Agence Freddy Michaud SA can handle the management of the property acquired. They will receive any bills issued, including those issued by public corporations – taxes – and will arrange for their payment. The relevant figures will be detailed in a statement drawn up annually on 30th September. For this service, they will expect an annual contribution of about CHF 500.–.
Banks usually grant a mortgage loans covering up to 66% of the purchase price.