Itinerary help: Paris -> Swiss Alps -> Vienna -> Budapest

I haven't been to the Alps, so personally I would stay an extra day in Paris (Tuesday). Your days in Vienna seem right, it's a compact city and easy to get around so you should be able to get a good feel for it in 3 days. My first visit to Budapest was for 4 days, and it was the perfect introduction to what has now become my most favorite city, no trip to Europe is complete unless I have time to spend there--I returned last May and will be there again in late April. I hope you find it as enchanting as I do!

Since you will be in Vienna on the 4th of July, let me suggest you check for Independence Day celebrations. I know the Embassy in Budapest always puts something on; although I haven’t been fortunate enough to be there for the celebrations yet. I once watched the celebrations in Bulgaria on Independence Day and was a memorable experience. You will find in the old Soviet Block countries while our status declined a little over the last several years, the US is still well thought of for the most part. Probably more so than in the west.
I assume on July 5th you will take a morning train to Budapest. It’s a 2.5 hour trips so that would be reasonable. So that gives you half a day on the 5th, and full days on the 6th, 7th and 8th.

In just broad general terms I would do something like this:
5th, Buda. Buda is really just a half day visit unless you have a particular interest you want to concentrate on. If you add to it the Hospital in the Rock and maybe wine tasting you can make a full day or a long half day out of it.
6th I would work on District VIII and the Jewish District. Maybe starting at the Market hall and working up from there
7th Maybe a half day in Szentendre then Districts V, VI and VII and up the Andrassy ut corridor to Heros Square, Bath House, etc.
8th Parliament, District V, Basilica, shopping, river front
Once you get a place to stay, let me know as it’s a big city and depending on where the hotel is located can affect how you plan your time.

Have fun

You plan sounds good. Murren is great. I would add a day there from Budapest or Paris in case clouds roll in. I am heading to Vienna this summer. I have never been to Budapest.

Looks good to me. Enjoy!

Since you will be in Vienna on the 4th of July, let me suggest you check for Independence Day celebrations. I know the Embassy in Budapest always puts something on; although I haven’t been fortunate enough to be there for the celebrations yet.

The Embassy event in Vienna is an 'invitation only' event (and a ticket you need some connection to get). It is traditionally held at the Ambassador's residence which is just outside Schonbrünn park. We'll have a new Amb installed (maybe?) by then, so things might change, but I would guess the general plan will not.

Thanks for the feedback and suggestions. Currently, I'm planning three nights in the Alps, and on the day we leave, I've planned to take a night train to Vienna (it's a 6-8 hour journey). But to maximize time in Vienna (or Budapest), would it make more sense just to take the day train instead, to get to Vienna one night sooner? We could use the time on the train for resting, reading, planning, etc.

We will do biking one day in the Alps, and maybe hiking/exploring Gimmelwald and the nearby area the other day. But we don't have extensive plans there.

Zonderpaard that's too bad. In Budapest in past years there have been a picnic in the park. In Bulgaria there was a fireworks display.

James, they used to do fireworks here. They quit that about 4 years ago when they organized a big party for all three of the Vienna diplomatic missions. The event is so huge that the tickets are issued in 'waves'. If they did fireworks, it would mean either the last wave would be the only ones to see them (since the Schonbrünn park is closed at night) OR that the waves would all stay and it would completely overwhelm the property and probably become a safety issue.

But that may all change with a new administration. We shall see.

Vienna more than makes up for the lack of 4th of July fireworks on New Years Eve. ;-)

New Years is one holiday the Hungarians don't seem to capitalize on. We may be in Budapest between Christmas (excellent in Budapest) and New Year; maybe we will try out Vienna for New Year. I wasn't so much encouraging celebrating the 5th of July as I was encouraging seeking out special moments she traveling.