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-   -   Buying property from a real estate company glossy printed catalog (https://www.englishforum.ch/housing-general/124589-buying-property-real-estate-company-glossy-printed-catalog.html)

Kutuzov 06.09.2011 13:07

Buying property from a real estate company glossy printed catalog
 
Hi,

We have been looking for a place to buy and in the process of our search we've seen a few properties that fit us quite well. We even visited a couple of them. Yet the problem with those two is that they are listed in the catalogs one can find outside of the agencies doors --like "le selection Immostreet" or similar. When we mentioned that to our friends, Swiss or resident here for long time, all of them told us that the properties in question should have some problems. Or just be grossly overpriced (also a problem, of course! :msnsarcastic:). The logic is that the market is very tight so all the properties that are good are snatched very fast, the best do not even reach the lists (anibis.ch or the like).

My question: has anyone bought the properties that were featured in the catalog AND for the price close to the quoted? If yes, did you have any reasons to regret it later (for instance: cannot resell for the same/higher price, or some features of the properties came up that made you regret the purchase)?

Thanks a lot in advance!
KTZV

runningdeer 06.09.2011 13:16

Re: Buying property from a real estate company glossy printed catalog
 
Perhaps not exactly the same, but when looking for a house, most of the ones advertised for any lenght of time were generally overpriced, or had some issues. The ones that were good value and decent, were snapped up fast. You need to visit the places and read all the details in the docs. and understand things thoroughly. For example, two places that seemed nice in print were 1) in the air flight pattern of Geneva airport, and 2) right on the railway line. One that was very nice and big at a decent price involved not have the land rights, a long term lease, thus be careful.

Anthony1406 06.09.2011 13:24

Re: Buying property from a real estate company glossy printed catalog
 
They are the exact sames as any other. us real estate companies pay a anual fee to be in those mags and therefore the best deals/or best houses are featured in there.

it is a good time to buy because interest is so low
it is a bad time to buy because housing market is nearing a peak....but it will never drop like it did in the USA.

Helm 06.09.2011 13:24

Re: Buying property from a real estate company glossy printed catalog
 
I bought my house after seeing in on comparis.ch.

It was underpriced and in very good state. I did get it very shortly after it was available though, but it was shown on comparis.ch on the same day it became officially for sale.

Just because it shows on online/ printed catalogues doesn't mean there is a catch. Otherwise how would someone sell a house? Mouth to mouth is still one of the best ways to find a schnšppchen, but Immobilien catalogues are also ok.

EarME 06.09.2011 13:40

Re: Buying property from a real estate company glossy printed catalog
 
Finding a perfect place to buy in Switzerland is not so easy. It can take years before you find a property that fits the criteria you may have. The market does not move as fast as the UK. I think the criteria for most local people will be 'so which room will I pop my clogs'.
I would first suggest you list your requirements, travel times to work, schools, shops, noise levels of trains, bells roads, flat or house, garden, balcony . When you have that agreed start to visit the towns villages and get a feel for the place. Visit week days and weekends. The next thing is start saving every rappen and talk to the bank about how much they will lend you.
An agent will charge you a finders fee which is approx 1% of the value.

Kutuzov 06.09.2011 13:42

Re: Buying property from a real estate company glossy printed catalog
 
Perhaps I need to clarify that I meant PRINTED catalogs, not online lists like comparis, immostreet, immoscout24, etc. I've seen a house or two that were on a list (web) for half a day and then disappeared forever. I guess they were sold... I've myself traced a few properties that first were featured on immostreet for some time, and then a month or two later I saw them in printed catalog, usually with a different agency. But maybe that's not usual and really prime properties get into the catalog? But then they are not supposed to sit on the market even for the shelf life of the catalog?:confused:

Has anyone (or someone you know) bought a property featured in a printed catalog for a quoted price (or at least apprx. close)? Anyone?:msnthink:

KTZV

meloncollie 06.09.2011 14:17

Re: Buying property from a real estate company glossy printed catalog
 
I often get those catalogs (unsolicited) in the mail - the few times I have inquired about a property it was long gone. Honestly - my impression is that the purpose of those catalogs really is to fish for homeowners who might be thinking of selling in the future.

Overpriced, unuseable properties will sit around for a long time - for those reasons. Any property where price is even close to value moves quickly - no need for advertising in pretty glossy catalogs.

But you might get lucky - if you see something you like, call and arrange a viewing. What have you got to lose other than a few hours' time?

----

We bought our current house here in 2004 - saw the ad on Homegate - but it has turned out that this is not the place for us. We would love to sell this house and move someplace else, but having spent years looking for a more suitable property I have finally given up.

Few properties meeting our needs have come on the market in that time, those that did had dozens of offers made on the first day. One needs often to make a snap decision to be successful.

Unfortunately I've been there, done that; I learned the hard way the pitfalls of not having enough time to thoroughly research the many rules and regulations governing a particular property.

So - if the property is such that you can live with it exactly as is, no changes or additions to the building or landscape whatsoever - go for it. But if the property is not useable for you in it's current state, you could be in for some unpleasant surprises. In my years of looking I have not seen a single property that did not mean complicated permit issues.

Having been burned once, I am cautious now. Too cautious apparently, as I have not been able to do gather my ducks into a row quickly enough given the competition. But I simply cannot fork out 'Swiss prices' without first doing due diligence. Hence my reason for giving up and looking elsewhere.

The good news is that I should be able to sell my current home quickly, but you can bet I won't be advertising it in a glossy catalog. ;)

bigblue2 06.09.2011 14:23

Re: Buying property from a real estate company glossy printed catalog
 
I really don't understand why people have an issue, ok I do, they want the world on a stick for a bargain price.

The 'perfect' house doesn't exist, if you want 11 rooms, an indoor heated pool, lake views, 4 garage spaces etc etc all for 200k then your going to be looking a very long time.

We looked on homegate, a lot, the house appeared we went to look at it, made an offer and bought it (there is a thread about it on here already)

sure we had to compromise, my 'perfect' house had new central heating and a garage, but what can you do, all the houses like that where out of my budget.

dodgyken 06.09.2011 14:28

Re: Buying property from a real estate company glossy printed catalog
 
Quote:

Originally Posted by bigblue2 (Post 1328970)
I really don't understand why people have an issue, ok I do, they want the world on a stick for a bargain price.

The 'perfect' house doesn't exist, if you want 11 rooms, an indoor heated pool, lake views, 4 garage spaces etc etc all for 200k then your going to be looking a very long time.

We looked on homegate, a lot, the house appeared we went to look at it, made an offer and bought it (there is a thread about it on here already)

sure we had to compromise, my 'perfect' house had new central heating and a garage, but what can you do, all the houses like that where out of my budget.

Yep - sums it up. The list of "wants" has to be balanced with the "what can be afforded" - rarely do the 2 meet happily.

EarME 06.09.2011 14:31

Re: Buying property from a real estate company glossy printed catalog
 
Most big new build apartment projects get sold via the developer. The best are reserved prior to any material being printed. If you think you like the development but the best are already gone, ask the developer to be put on the wait list in case the buyer pulls out. It worked for us and we have the best apartment (in my opinion) in the block.
The price you pay for these new projects is over the top but most people do not buy to make short term profits. If the project is large enough the developers have normally already talked to the large banks and the evaluations the bank will make for your mortgage will be consistent with the asking price.
Consider your requirements carefully, you never know when a kid pops up, grass on the balcony does not really work.

rootkit 06.09.2011 14:35

Re: Buying property from a real estate company glossy printed catalog
 
Based on my experience, I can confirm what others already said in this thread.

There are very very few good deals in the market right now (at least here in Vaud where we searched). We visited around 50 apts/houses and a good 90% of them were really terrible, or overpriced, or both.

What I have understood is that good deals are extremely hard to find online, because agencies are calling their subscribed clients before advestising a new offer. Only if no one is interested then they put it online.

Paper catalogues and magazine are then even worse, as they are the leftovers of two (or more!) previous screening.

Think about this: to be printed on a catalogue, an AD needs to be already weeks old. How likely is that it will be a very good deal?

Kutuzov 06.09.2011 14:35

Re: Buying property from a real estate company glossy printed catalog
 
BigBlue2, I do not want 11 rooms for 200K. Oh no, I do, I just do not think they exist for this price in the part of the world I want to live :-)) And yes, I understand that there is always a compromise between the desires and reality. Still I would like to hear the opinion and just have simple statistics overall.

And yes, if it was my 20th house I would not bother much about details (or rather I would hire some else to bother). As it is my biggest investment and just a place where I spend a lot of time/life, I do need to do due diligence and do not feel right w/out it. And I do not want to be stuck for very long time at a place because I missed some trivial detail at the time of purchase and can not move out. It still can happen, I just want to make chances for it lower...

Thanks anyway,
KTZV

rootkit 06.09.2011 14:38

Re: Buying property from a real estate company glossy printed catalog
 
Quote:

Originally Posted by bigblue2 (Post 1328970)
I really don't understand why people have an issue, ok I do, they want the world on a stick for a bargain price.

The 'perfect' house doesn't exist, if you want 11 rooms, an indoor heated pool, lake views, 4 garage spaces etc etc all for 200k then your going to be looking a very long time.

We looked on homegate, a lot, the house appeared we went to look at it, made an offer and bought it (there is a thread about it on here already)

sure we had to compromise, my 'perfect' house had new central heating and a garage, but what can you do, all the houses like that where out of my budget.

Agree 100%, buying an house here in Switzerland is just a big compromise.
You must be very lucky to even get close to satisfy some of your needs.

bigblue2 06.09.2011 14:41

Re: Buying property from a real estate company glossy printed catalog
 
Quote:

Originally Posted by Kutuzov (Post 1328996)
BigBlue2, I do not want 11 rooms for 200K. Oh no, I do, I just do not think they exist for this price in the part of the world I want to live :-)) And yes, I understand that there is always a compromise between the desires and reality. Still I would like to hear the opinion and just have simple statistics overall.

And yes, if it was my 20th house I would not bother much about details (or rather I would hire some else to bother). As it is my biggest investment and just a place where I spend a lot of time/life, I do need to do due diligence and do not feel right w/out it. And I do not want to be stuck for very long time at a place because I missed some trivial detail at the time of purchase and can not move out. It still can happen, I just want to make chances for it lower...

Thanks anyway,
KTZV


well as others have said, for it to appear in a magazine it would have to have been available for sometime, so is probably overpriced or has some hidden issues, we saw lots of places with very serious issues and where really only good for being knocked down and start again.

limiting yourself to just a narrow location is asking for trouble imho, as long as the location is near a train station then your good to go.

Today only 06.09.2011 17:59

Re: Buying property from a real estate company glossy printed catalog
 
Quote:

Originally Posted by bigblue2 (Post 1328970)
I really don't understand why people have an issue, ok I do, they want the world on a stick for a bargain price.

The 'perfect' house doesn't exist, if you want 11 rooms, an indoor heated pool, lake views, 4 garage spaces etc etc all for 200k then your going to be looking a very long time.

We looked on homegate, a lot, the house appeared we went to look at it, made an offer and bought it (there is a thread about it on here already)

sure we had to compromise, my 'perfect' house had new central heating and a garage, but what can you do, all the houses like that where out of my budget.

I'm sorry, i have to diasgree BB2, it certainly does exist, it's called a green field site and you buold your own house. That way you get exactly what you design/ask for, may be a tad expensive and you may regret a few things but you can certainly have 11 bathrooms, 2 garages and a bedroom, if that's all you want !

meloncollie 06.09.2011 18:42

Re: Buying property from a real estate company glossy printed catalog
 
Quote:

Originally Posted by Today only (Post 1329360)
I'm sorry, i have to diasgree BB2, it certainly does exist, it's called a green field site and you buold your own house. That way you get exactly what you design/ask for, may be a tad expensive and you may regret a few things but you can certainly have 11 bathrooms, 2 garages and a bedroom, if that's all you want !

Provided of course that the property is already actually zoned Bauland, that the building zone allows you to build to the height you wish, that the Ausnutzungsziffer allows for that amount of living space, that the set-backs allow for building where you want to on the property, that there are no area design restrictions, that there is no requirement to use a specific architect, that water, sewage and electricity are available at the property line, or if not that negotiations have already been concluded with the neighbors to allow access, that a turn-off from the road into your future garage is not forbidden, that neighbors have not lodged a protest to your plans, that that that...

;)

bigblue2 07.09.2011 12:37

Re: Buying property from a real estate company glossy printed catalog
 
Quote:

Originally Posted by Today only (Post 1329360)
I'm sorry, i have to diasgree BB2, it certainly does exist, it's called a green field site and you buold your own house. That way you get exactly what you design/ask for, may be a tad expensive and you may regret a few things but you can certainly have 11 bathrooms, 2 garages and a bedroom, if that's all you want !


and your back to budget again, our perfect house of course exists, but not in our budget, so I guess I should say, for most normal people*, the perfect house in budget doesn't exist

*normal excludes people like bill gates etc who can afford anything they can dream of

dodgyken 07.09.2011 12:56

Re: Buying property from a real estate company glossy printed catalog
 
Quote:

Originally Posted by Today only (Post 1329360)
I'm sorry, i have to diasgree BB2, it certainly does exist, it's called a green field site and you buold your own house. That way you get exactly what you design/ask for, may be a tad expensive and you may regret a few things but you can certainly have 11 bathrooms, 2 garages and a bedroom, if that's all you want !

It doesn't - unless your wallet is bottomless.

Every house is a compromise - even one you build yourself. You are limited by land size, outlook, topography, services, transportation links, location - and most importantly BUDGET.

In the real world - the vast majority of people can't afford 7 digit valued properties - and even if they can - they have to compromise because they want 8-digit houses!!

Throw into the mix Switzerland's supply and demand issues and you begin to realise just how hard the perfect house is to find.

For example - when we bought our weekend (could be used full time) house, the list looked pretty much like this:

Pros:
+Recent structural renovation
+Potential to improve via cosmetic renovation
+Sensible sized, partially hard landscaped garden
+2 parking spaces
+Many rooms + good floor space
+History to the house
+Cheap
+Close enough to ZH
+Some views

Cons:
-No garage
-Animal urine issue
-Massively overgrown garden
-Low ceilings
-75min door-to-door commute
-higher taxes
-Interupted views

Kutuzov 09.09.2011 18:59

Re: Buying property from a real estate company glossy printed catalog
 
Well, still no takers -- no one admits buying anything from a catalog. Does it exist only to lure the home owners? :confused:

I know that a few real estate agents are lurking around as I got spam from them immediately I posted something about intention to buy properties. Yet I haven't seen any serious input by them on the forum :rolleyes:

Anyway, thanks a lot everyone who replied. I guess we have to have a second look at the apartments I mentioned to find out what's wrong with them...

KTZV


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