Thinking of selling your chalet?
If you own a chalet in the Valais area of the Swiss Alps, now is a great time to sell. During the COVID-19 pandemic, many people saw their lives altered in long-term ways. Many buyers are now looking for a second home to spend holidays and weekends together with family and friends, and many sellers are looking to readjust their investment portfolio and free up cash for new projects.
Our experienced chalet sales professionals have over a decade of experience selling chalets in the Valais area of Switzerland, and we've interviewed them to distil their experience down into a useful list of 10 things you need to know about selling your chalet here in Valais.
Ten things you need to know about selling your chalet in Valais
1. These three main types of chalet are in demand right now
Luxury chalets
Our clients who are buying luxury chalets from us this year are generally looking for a ready-to-go solution that was built (or completely renovated) in the the last 10-15 years. Our best-sellers have an open kitchen/living/dining area, fabulous views and several good-sized bedrooms, of which at least one bedroom has an en-suite bathroom. Most buyers are looking for no more than a short walk or drive to the skiing and hiking, or to a free bus stop. Extra features such as garage, sauna or jacuzzi can help to close the deal, but these can usually be installed fairly easily soon after purchase.
Price range: CHF 1,500,000 - 3,500,000
Family chalets
Most of our sales of family chalets in recent months have been to Swiss or international buyers looking to buy their first holiday home. The fastest-selling family chalets have great views, a fireplace and some outdoor space - either a patio, deck area or garden. Anywhere that is not too far from the skiing/hiking or close to a free bus stop, and ideally with parking right outside.
Price range: CHF 600,000 - 1,700,000
Renovation projects
Sales of renovation projects are increasing as more and more people look for a second home in the mountains. Our project buyers tend to be looking for a good-sized plot of land with possibilities to extend the chalet. Small windows can be enlarged, and extra bathrooms or saunas can be installed. Chalets to renovate that sell best in Valais tend to have unobstructed views, be built on two or three storeys and have a good-sized living area with fireplace. Being in a quiet location with road access and nearby skiing/hiking trails are strong assets that would increase the value to a buyer.
Price range: CHF 250,000 - 950,000
2. The main reasons why people are selling their chalets at the moment
The Swiss Franc is stronger now than when they purchased the property, leading to significant foreign exchange gains versus EUR or GBP
They are uncertain about their financial stability, particularly in light of recent family changes
They would like to raise capital for new projects, or see the opportunity to purchase a bigger chalet
They want to reduce their international travel, and take more holidays in their home country
They don't use their chalet as much as they used to, often because the children are now a little bit older and need to study or prefer to take holidays with friends
3. It can take between 1 and 100 visits to sell a correctly-priced chalet
You may get lucky, in that the first person who visits your chalet will be the right person for that chalet, and that they will be in a position to offer the correct price. More often than not it will take a number of visits for the right person with the right financing plan to find your chalet and make the big step of putting in an offer.
4. Many sales agents lose interest once they believe that they won't sell the chalet, and stop proposing it to their clients
Without a good level of persistence and understanding, a sales agent may soon start to believe that your chalet is "difficult to sell" or "has a problem" if they can't find a buyer after 2 or 3 visits. If you stop getting feedback from visits, you can't help but wonder if your agent is committed to selling your chalet.
5. Buyers tend not to buy the chalet that they first enquire about, and a good agent will be able to steer them through their portfolio to chalets more suited to their needs and wishes
If an agency doesn't have any other chalets in your geographical area in the same category and price range, they will not be able to steer clients towards your property when they enquire about other properties. When choosing an estate agency or sales agent, be sure to ask them how many different partnerships they have that provide a broad selection of properties to sell, as well as a broad base of buyers.
6. The average client will visit up to 6 different chalets during a sales visit with one agency, and many clients will do three consecutive days of sales visits in different resorts
An agent with good local knowledge will be able to compare and contrast the chalets, as well as demonstrate the benefits of the resort. Answering questions and concerns about year-round road access, availability of different services, rental potential, annual maintenance costs and so on can reassure buyers and help them to feel comfortable about taking a big financial risk on buying a holiday home.
7. People often need to fall in love with a chalet in order to decide to buy it
The role of the matchmaker is not one to be taken lightly! Only by thoroughly understanding both the chalet and the buyer can the matchmaker kindle and nurture the flame and coax it into true romance!
8. After signature of the Acte de Vente, it normally takes 3 months to receive the majority of the sales money, as the notaire is required to hold back a portion to settle any capital gains taxes and annual income taxes. The final balance will only be paid to you 6 to 9 months later.
Your financial situation will dictate how you respond to an offer and any subsequent negotiation when it arises, as you will know whether you can hold out longer for a better offer.
9. The seller pays the agency fees out of the sale price, and the buyer pays the land registry fees.
This may be different to what you are used to in your home country so ensure that you take it into account when reviewing your finances. It may encourage you to sell the chalet yourself online and avoid the fees. Many people try this and it can be a good strategy if you live nearby and want to try leading the sales visits yourself, don't mind when the sale happens or if you don't need to get the full market value for your chalet in order to finance your new projects.
10. There is no standard about who pays for any electrical survey, chalet cleaning, or whether the seller gives a guarantee on any of the appliances in the chalet - all of this is up for negotiation and will be defined in the Acte de Vente
Perhaps you have sold property in different countries or cantons and this will be your first sale in Switzerland or indeed in the Valais region. There are many nuances related to the sale of property in Valais and an experienced sales agent will ensure that you are aware of these as you go through the process and that your interests are taken into account. When choosing an estate agency or sales agent, be sure to ask how many chalets they have sold this year in the Valais canton and ask for details.
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