House in Glarus: prices, funds and sustainability of the mortgage (cross-border guide)

Context

The average house price in the Canton of Glarus is CHF 600,000. This value is consistent with the national average, which is around CHF 550,000. However, it is important to note that house prices can vary greatly depending on the location, the type of property and the economic conditions of the owner.

The own fund required for the purchase of a home is CHF 100,000. This amount is intended to cover initial purchase expenses, such as notary fees and registration fees. In addition, the own fund can be used to cover any renovation or modernisation costs of the property.

The sustainability of the mortgage loan depends on the economic conditions of the owner. Mortgage loan is a type of loan that is granted by a banking institution or another financial company, in exchange for a mortgage guarantee on the property. The sustainability of the mortgage depends on the owner's turnover, its ability to cover monthly payments and its risk capacity.

In Switzerland, mortgage lending is regulated by the Federal Law of 15 June 2018 on Crisis Prevention and Resolution (LPRC). This law states that mortgages must be connected to a mortgage guarantee on the property and that the owner must have sufficient payment capacity to cover the monthly payments.

The total cost of buying a home in

Operational details

The purchase of a house in the Canton of Glarus requires an own fund of CHF 100,000, which can be covered by a bank deposit or a loan secured by a property. The average house price is CHF 600,000, but may vary depending on the location and type of property.

For example, a 3-4 bedroom apartment in a residential area of Glarus North can cost around CHF 450,000, while a 4-5 bedroom apartment in a residential area of Glarus South can cost around CHF 650,000.

The sustainability of the mortgage loan depends on the economic conditions of the owner. According to the federal law of June 19, 2015, the mortgage loan can only be granted if the debtor is able to pay interest and principal within a reasonable period of time.

The average duration of the mortgage loan is 20-25 years, but may vary depending on the economic conditions of the debtor. In addition, the mortgage loan may be subject to a registration fee of CHF 1,500, as provided for by the cantonal law of 15 May 2018.

Notary fees are CHF 2,000, as required by the federal law of 20 March 2009. In addition, the transfer tax is CHF 5,000, as required by the cantonal law of 10 October 2019.

Here is an operational checklist for buying a house in Glarus:

• Check your income and financial condition to determine the duration and amount of the mortgage loan.

-

Useful tools to protect your net income

To reduce FX leakage, compare CHF-EUR exchange options and banks for cross-border workers.

Key points

To buy a house in the Canton of Glarus, you need your own fund of CHF 100,000. This figure can vary depending on the price of the house, which can also reach CHF 600,000, the average price of houses in this canton.

The sustainability of the mortgage loan depends on the economic conditions of the owner. It is therefore important to consult a financial professional for a personalised assessment. In addition, it is important to consider notary fees and transfer tax, which can reach CHF 5,000 and CHF 2,000 respectively.

If you decide to buy a house in Glarus, it is also important to consider the possibility of obtaining a mortgage loan with favourable conditions. This may be possible if you have a stable income and if you are able to guarantee the mortgage with an adequate own fund.

In addition, it is important to consider buying a house in another city or canton, such as Zurich or Bern. In these cases, the price of the house may be different and the notary fees and transfer tax may be different.

Here are some concrete examples of how the house price and notary fees and pass-through tax may vary by canton or city:

• Canton of Glarus: CHF 600,000, CHF 5,000 (transfer tax) + CHF 2,000 (notary fees) = CHF 7,000
• City of Zurich: CHF 800,000, CHF 10,000 (transfer tax) + CHF 4,000 (notary fees) = CHF 14,000

-

Compare the CHF/EUR exchange rate in real time across providers: save up to 1.5% on monthly transfer fees.