CHF 22,000 cash buffer after buying a 3-bed condo in Zurich

[otis.cove]

The latest budget leaves me with about CHF 22,000 after the deposit and estimated purchase costs, which raises a new question about how much of the condo price is truly affordable. It is a 3-bed in Zurich at roughly CHF 1,272,000, and the inspection may still uncover work needed during the first year.

How much would you ring-fence as an emergency fund before allowing anything for moving, repairs or furniture? I also need to account for the first mortgage payment, service charges and the insurance excess. Furniture can be delayed, but I do not want an ordinary repair to exhaust the remaining cash.

 

[ari.brooks]

I’d keep at least CHF 12,000 completely separate as the emergency fund, then tentatively allow CHF 3,000 for moving, CHF 5,000 for urgent work and CHF 2,000 for basic furniture. Those are spending limits, not targets. If the condo needs more than the repair allowance immediately, that suggests either renegotiating your overall budget or choosing a cheaper property.

 

[thread.good]

Does the CHF 22,000 remain after the first mortgage payment, service charges and insurance excess are accounted for? Those can matter more than furniture in the opening months. I’d also want the inspection findings before assigning exact amounts: cosmetic work can wait, but anything affecting normal use changes the calculation.

 

[NiaPike]

I wouldn’t divide all CHF 22,000 into fixed pots yet. Beno’s split is disciplined, but CHF 12,000 may not feel like much of an emergency reserve relative to this purchase, especially if an immediate repair overlaps with moving costs.

Before committing, get firm moving estimates, identify only the inspection items that cannot wait, and postpone nonessential furniture. Then test whether the untouched remainder still covers several months of your actual household expenses plus the first mortgage payment and service charges. If it does not, buying below your maximum is the safer answer.