Moving to Switzerland: what costs should you plan for your new home?

Are you planning to move to Switzerland? Between the rent, the rental guarantee, insurance, the move and furnishing your apartment, relocation costs can add up quickly.

For an expat arriving in Switzerland, it is therefore important to know the main costs to plan for when renting a home in Switzerland and how to protect your budget.

One of the largest expenses is the rental guarantee. With Firstcaution, you can benefit from a flexible rental guarantee and avoid tying up several thousand francs in a bank account.

What costs should you plan for when settling in Switzerland?

The budget required depends on your canton, the town where you settle and the type of home you choose. Some expenses are nevertheless unavoidable or very common.

1. The first month’s rent and housing-related costs

The rent is obviously one of the first expenses to include in your budget.

The price of an apartment in Switzerland varies considerably from one region to another. Geneva, Zurich, Lausanne and certain areas in high demand have particularly high rents.

When looking for a home, remember to calculate your budget on a broader basis than just the monthly rent: service charges, insurance, internet, electricity depending on the home and other recurring costs may also be added.

2. The rental guarantee in Switzerland

The Swiss rental guarantee is a significant expense to anticipate. For a residential property, it can represent up to three months’ rent.

For example, with a monthly rent of CHF 2'000, the guarantee can reach CHF 6'000.

Traditionally, this sum is deposited into a rental guarantee account with a bank. For an expat who has only just arrived in Switzerland, tying up several thousand francs can however be restrictive, particularly when the move and the relocation also have to be financed.

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A rental guarantee without a bank deposit with Firstcaution

There is an alternative to the bank deposit: rental guarantee insurance.

With Firstcaution, a Swiss insurance company authorised by FINMA, the tenant can choose a 100% rental guarantee without a bank deposit.

Firstcaution acts as guarantor towards the landlord and the tenant pays a premium to benefit from this guarantee. They can therefore keep their cash available for their other relocation expenses.

This is a particularly practical solution for expats settling in Switzerland, especially when they have to manage several major expenses at the same time.

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How much does moving to Switzerland cost?

The price of a move mainly depends on the distance, the volume of your belongings and the services chosen.

If you are arriving from abroad, the budget can be higher: international transport, packing, storage or removal services may be added.

Before moving to Switzerland, request several quotes and compare the services included. If you are moving with few belongings, a lighter transport solution can also considerably reduce the cost.

What costs should you plan for furnishing your apartment in Switzerland?

An empty home can also represent a considerable budget.

Depending on your situation, you may have to buy:

• a bed and bedding;
• storage furniture;
• a table and chairs;
• kitchen utensils;
• household appliances;
• lighting;
• curtains or blinds.

If you are arriving from abroad without furniture, it can be useful to set aside a specific budget for settling into your new apartment in Switzerland.

What insurance should you plan for your home in Switzerland?

Household contents insurance and private liability insurance are among the insurance policies commonly taken out by tenants in Switzerland.

The requirements may however vary depending on the home and the lease agreement. Check the documents requested by your property manager or landlord before you move in.

How can you reduce the costs of settling in Switzerland?

Some expenses are difficult to avoid, but you can influence how they are spread over time.

The rental guarantee is a good example.

With Firstcaution, you can choose between several solutions:

• 100% rental guarantee without a bank deposit;
• combination of guarantee insurance and flexible deposit;
• 100% flexible deposit.

This flexibility means you can adapt your guarantee to your situation and to the amount you wish to keep available.

Rental guarantee with monthly payment

Settling in Switzerland already involves many expenses. Firstcaution therefore also offers monthly payment of the rental guarantee premium from CHF 8, depending on the solution chosen.

Instead of having to pay the annual premium in one go, you can spread its cost over the year.

Cashback on the rental guarantee

Firstcaution also offers cashback on rental guarantee premiums.

Subject to meeting the eligibility conditions, you can get back up to 20% of the premiums paid at the end of the contract.

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What budget should you plan to settle in Switzerland?

Before you leave, it is useful to distinguish the relocation costs to be paid immediately from monthly expenses.

For an expat, this preparation above all avoids an unpleasant surprise on arrival and helps keep enough cash available for the first few weeks.

How can you prepare your budget before moving to Switzerland?

Before signing your lease, draw up an estimate of your relocation costs in Switzerland.

Remember in particular to:

• define your rent budget;
• calculate the amount of your rental guarantee;
• compare the bank deposit and guarantee insurance;
• plan for the cost of the move;
• budget for buying furniture and equipment;
• anticipate insurance policies and other contracts;
• keep a reserve for your first expenses in Switzerland.

If you wish to avoid tying up several months’ rent, remember to compare the different rental guarantee solutions without a bank deposit, such as the one offered by Firstcaution.

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FAQ: moving to and settling in Switzerland

How much does settling in Switzerland cost?

There is no fixed amount. The budget mainly depends on the rent, the rental guarantee, the move, furniture and your personal situation.

What budget should you plan to rent an apartment in Switzerland?

In addition to the monthly rent, plan in particular for the rental guarantee, insurance and any costs linked to moving in. The amount depends heavily on the region and the home.

How can you avoid blocking a rental guarantee in Switzerland?

The rental guarantee insurance makes it possible, when this solution is accepted by the landlord, to avoid depositing the full guarantee in a bank account. Firstcaution offers in particular a 100% rental guarantee without a bank deposit.

How much does a Firstcaution rental guarantee cost?

The price depends in particular on the amount of the guarantee and the solution chosen. With Firstcaution, monthly payment is available from CHF 8, according to the applicable conditions.

Can you pay your rental guarantee monthly?

Yes. Firstcaution offers monthly payment of the rental guarantee, from CHF 8 depending on the solution chosen.

Is there a rental guarantee with cashback in Switzerland?

Yes. With Firstcaution, cashback of up to 20% of the premiums paid is available subject to meeting the eligibility conditions.

Is Firstcaution suitable for expats?

The solution can be particularly practical for people settling in Switzerland from abroad: the application is digital, the guarantee can be taken out without tying up the full bank deposit and the teams are available in 4 languages.