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Old 25.02.2015, 14:30
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Re: % to budget for dwelling?

aw cmon, what's 180 chuffs between complete strangers on the internet?

That's what I get for working with round numbers
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Old 25.02.2015, 14:33
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Re: % to budget for dwelling?

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aw cmon, what's 180 chuffs between complete strangers on the internet?

That's what I get for working with round numbers
Its people like you that cause audits
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Old 25.02.2015, 14:50
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Re: % to budget for dwelling?

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Where I am now living is too cheap. Will I be obliged to move if the Kanton finds out?
You'll be fine. Just keep it on the down low. I used to also pay about 15% of income and had 2 more bed rooms than "needed". But I was rejected for many of the apartments with the same criteria. It IS possible to live outside the box.

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Oh dear, oh dear

I tell you what - you give me 2,000chf and in return I'll give you 30% of 6,000chf
He did say that an accountant could explain better. Let's hope that's true.
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Old 25.02.2015, 16:54
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Re: % to budget for dwelling?

You people are very informative and hilarious -- thanks!
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Old 25.02.2015, 17:42
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Re: % to budget for dwelling?

In case it helps, it is worth knowing, if you have the means to start with, that owning (paying a mortgage) is a much smaller monthly outlay than renting, AND interest rates are extremely extremely low in Switzerland.

Also, the way they are typically structured, a large tranche is interest only, if not almost all.

You do need a minimum of 20% deposit though.

Example:
2M property, 400,000 deposit, assume 2% interest rate (that is the top end!)
repayments would be 2,666 (interest only), although you may need to pay off 1% or so of the capital (principle) each year if you own less than 65% of it.

even then, that is cheaper than renting.

It is very much a buyers market (in general) with the heat coming off the almost bubble-like levels, so don't expect much capital appreciation, and note that its not cheap to sell. there are all kinds of fees and taxes which make "flipping" property or plain speculation unattractive. Then here's the question of the kind of residence permit you're on...

Long and short of it is, most people pay around 30% of their income in rent, and as rents in Zurich are very high, its a challenge finding somewhere cheap.
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