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Step 2: What Do I Have to Take into Account When Converting My Home?

Converting your home can be just as exciting as building it. Be inspired by your present needs and look forward to your new old home.

Tax Considerations

If, taking account of your future needs in advanced years, you've decided to realize your dream home by means of appropriate conversion or modernization, you should make sure you do this while you've still got a regular income from employment. This way you will normally benefit more from potential tax deductions. Inquire with your cantonal tax authorities about the difference between value-enhancing and value-preserving expenditure.

• Practically all energy-savinginvestments (exterior, roof or window insulation) can be offset against income tax, as can expenditure for sustainable heating systems (heat pumps, heating elements, solar heating, etc.), even if these have a value-enhancing effect.
• Value-enhancing investments can have an impact on the future sale of a property when calculating property gains tax. You should therefore retain all construction documents and invoices.

Construction Projects

It is important that you choose all your contractors carefully. We will be pleased to assist you in this, as it is an important factor in our decision to grant a construction loan.

• Look for an architect who specializes in the conversion you require and ask for references.
• Lay down the performance obligations for planning, costs and construction itself in a contract.
• A construction supervisor will keep a watchful eye on the costs for you.
• For large-scale conversion and modernization work it may make sense to award the mandate to a general or sole contractor.
• In this case, we recommend builders' liability, contract works, and construction period insurance coverage.

Once you have made a decision about the type and manner of conversion, all that remains is to secure the appropriate financing. Our advisors will be pleased to assist you in this.  

Step 3: How Can I Finance My Home Conversion?  

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