Beyond the well-known transaction costs — transfer tax and notary fees — there are a number of less obvious costs that buyers should factor into their purchase budget. Failing to account for these hidden costs can result in unpleasant surprises after completion.
Bank valuation and mortgage arrangement costs
Buyers who finance their purchase with a mortgage should budget for the bank's property valuation (expertise immobilière) — typically CHF 1,500 to CHF 3,000 — which the bank commissions before approving the mortgage. This cost is paid by the buyer and is not refundable if the mortgage is not approved.
The bank's arrangement fee (commission d'engagement) is typically 0.1 to 0.5 percent of the mortgage amount. For a CHF 1.6 million mortgage, this is CHF 1,600 to CHF 8,000. Some banks waive this fee for private banking clients or for large mortgage amounts.
Moving and furnishing costs
International buyers relocating to Montreux should budget for moving costs — international removals from Europe typically cost CHF 5,000 to CHF 20,000 depending on the volume of goods and the distance. Customs clearance for goods imported from outside the EU may add further costs.
Furnishing a new property in Montreux can be a significant expense — particularly for buyers purchasing a new or recently renovated property that requires complete furnishing. A full furnishing budget for a 3-bedroom apartment at a high-end specification is typically CHF 80,000 to CHF 200,000.
Legal and advisory fees
Buyers who engage a lawyer to review the purchase documentation — the reservation agreement, the purchase deed, the PPE regulations — should budget for legal fees of CHF 3,000 to CHF 10,000 depending on the complexity of the transaction and the lawyer's hourly rate.
Tax advisory fees for buyers who need advice on the Swiss tax implications of their purchase — particularly non-resident foreign buyers — are typically CHF 2,000 to CHF 8,000 for initial advice and structuring. Ongoing annual tax advice adds a further CHF 2,000 to CHF 5,000 per year.
Renovation and adaptation costs
Even buyers purchasing a property in good condition often incur costs to adapt it to their preferences — repainting, replacing flooring, updating the kitchen or bathrooms, installing new light fittings or window treatments. These costs are easy to underestimate and can quickly add up to CHF 20,000 to CHF 100,000 for a typical apartment.
Buyers should inspect the property carefully and obtain quotes for any planned works before completing the purchase. Building in a contingency of 10 to 15 percent above the estimated renovation cost is prudent — renovation projects almost always encounter unexpected costs.
Key points
- Bank valuation: CHF 1,500–3,000; mortgage arrangement fee: 0.1–0.5% of mortgage
- Moving costs: CHF 5,000–20,000 for international removals
- Furnishing: CHF 80,000–200,000 for a fully furnished 3-bedroom apartment
- Legal fees: CHF 3,000–10,000; tax advisory: CHF 2,000–8,000 initial
- Renovation contingency: budget 10–15% above estimated costs
Contact Montreux Real Estate for a complete cost checklist and to discuss the full financial picture for your purchase.
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