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Old 15.08.2018, 22:08
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Dividing your property?

Hello everyone!

Random question that came to my mind since I see that part of the reason for such high buying prices is the very large size of many apartments and houses.

Any idea if it's legally possible to buy something "too big" (e.g. 170m) and divide/ redesign it into 2 apartments - so that my family would live, say, in 100m, and rent out the remaining 70m to someone else?
That'd be cool I think! But I can't imagine it's allowed!

PS. I'm talking about Geneva.
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Old 15.08.2018, 22:22
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Re: Dividing your property?

Why wouldn't it be possible? Okay, you probably need to own the property outright, i.e. no mortgages, but assuming that's the case and you can get planning permission should be possible. If you need a mortgage, maybe a bank would be on board with the idea too. Heck, there are plenty of houses around here that have been converted into apartments.
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Old 15.08.2018, 23:01
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Re: Dividing your property?

As stated.. you'll need to own outright a huge percentage of the property (the amount of the outstanding mortgage dictates the minimum amount that you have to charge in rent)

In addition to the above, if you're talking about buying a flat in a block.. you'll probably need agreement from the other flat owners in the block.

p.s.

Not sure of the legalities, but maybe you could put up a 'soft' border inside the property and AirBnB the other 'bit'
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Old 15.08.2018, 23:05
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Re: Dividing your property?

Check upfront if you will get permission to do what you please, if you want/need to turn it into a fully independent unit with it's own front door, than you need allowance from a bunch of people to do such to end up with two units, finding out afterwards this is not possible might be disastrous.
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