Beneftime
Buying your primary residence

18/08/2021
benefitme-chatbot
For our first article in a series of User Stories, we follow Anthony, an employee of a pharmaceutical company and currently renting an apartment in Acacias. Anthony plans to buy his main residence in Vésenaz, a beautiful residential village on the suburb of Geneva and to move there. He has found a nice semi-detached house at 1'448'000.00 that he believes fits in his budget.

To facilitate the decision making process in their life projects, Anthony's company has made available to its employees the Benefitme tool. Anthony decides to run a simulation in the application to see how the purchase of the property could affect his different parameters.

He connects to the application, and arrives on his dashboard from where he can view the graphs representing his financial and administrative data.  
To simulate his project, he decides to start a discussion with the chatbot by clicking on the button at the bottom right. Anthony selects "Buy a property" when the chatbot asks him about his life project, then selects "Main residence".

Several financial explanations on the first contribution and on the mortgage fees follow. The chatbot then calculates, according to Anthony's data, the maximum possible amount for the acquisition of his main residence.

Anthony is happy to learn that the house fits into his maximum budget of 1'883'945 CHF. The chatbot then explains to him how to proceed to gather the contribution (between cash and pension fund) as well as the impact it will have on his retirement and taxes. Finally, it proposes to Anthony to simulate the purchase of the residence to see the impact on his financial data, to which he answers yes.

The Dashboard updates and compares the current data with the simulated data:
  • Anthony's bank account has been reduced by 325'000 CHF
  • A new entry "Debt" of 1'040'000 CHF has been added
  • An asset of 1'300'000 has been added in the real estate section
  • The expenses and charges related to his current residence have been deleted 
Anthony can now navigate through the different sections of the application to see in more detail the impact of his simulation on his expenses, taxes and wealth.

He can keep control of his simulations, thanks to the maps on the right that represent these changes, and see the impact of each of his maps alone on his data.
With this level of visibility, Anthony can plan his purchase with confidence and feels that the impact on his retirement and taxes is worth the price of the living environment that the village of Vésenaz offers.

The video below shows the actions Anthony took to view another purchase, this time more expensive!
The Benefitme tool is available! Contact us if you want to implement it to offer these features to your employees.