What do you think of the idea of buying an apartment – without taking out a mortgage? I am already 66 years old and will be able to make money in the near future. Somebody advised me not to take out a mortgage because at 66 I am no longer creditworthy. Is that even possible, and if so, what are the advantages and disadvantages? Readers question from HR
If you can finance a property without outside capital, this is always the optimal prerequisite in my opinion. External financing is usually necessary because buyers cannot raise the capital required to purchase property on their own, as real estate in Switzerland is very expensive. However, if you have the necessary capital and some other reserves, an acquisition without outside capital is an advantage. The interest rates on a mortgage are currently very low and will probably remain so for some time due to the corona crisis. Nevertheless, you save the interest that you would otherwise have to pay the bank without outside capital.
One can rightly object that you could invest the large amount of money that you are investing in your condominium in a more profitable way in the financial markets. However, the return is not guaranteed and, depending on the strategy chosen, you carry a more or less large ……..
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