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Old 29.07.2020, 12:06
Global Global is offline
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Apartment or What else? Any advice, Please.

Hi Everyone!

Hope you all are keeping well

First of all, Please forgive me if I am asking novice questions for asking things that no one in their right mind asks. I was an orphan growing up on my own doing plenty of mistakes without having anyone wise around who could guide. That is why I hope to learn from your inputs and experiences.

Recently relocated to Switzerland with my small family a few months back. I have around 200000 CHF savings. Thankfully I have a job, and I can see myself living in Switzerland for 15-20 years.

I am paying 2000 CHF a monthly rent for an apartment that I dislike, and I started thinking:

1) Is buying a small/meduim apartment (Maximum cost of around 500000) in Switzerland is a financial suicide?

2) I read some of your comments on this forum that if a person paid off the mortgage, then, s/he will be hit so hard and bad by paying lots of taxes or other things I do not know. Not sure I understood, But, Who wants to live and the bank is knocking on the door every month. Could you please elaborate?

3) Is buying anywhere else other than Zürich/Zug is a mistake? Or, If I paraphrase, Is Zürich/Zug regions are the only safe investment while buying in other regions is either risky or will never make any profit even after decades?

My point of Q#3 is: Is it better to buy an apartment in Kanton Aargau, Or, Will it be better to buy a smaller/older apartment in Zürich/Zug?

4) Is it wiser to wait a bit so that 'maybe' prices go down?

5) If buying in Switzerland is not recommended, Anyone here bought an investment apartment elsewhere in Europe to rent it out? Any experiences to share, Please?

6) If this whole thing of buying a property is not recommended, Should I just buy stocks for 100000 or what do I do instead?

Lastly, Truly thank you all very, very much for a great informative and helpful forum.
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