Go Back   English Forum Switzerland > Help & tips > Other/general
Reply
 
Thread Tools Display Modes
  #121  
Old 03.08.2007, 16:40
miniMia's Avatar
Forum Legend
 
Join Date: Apr 2007
Location: romandie
Posts: 8,848
Groaned at 85 Times in 76 Posts
Thanked 7,391 Times in 3,729 Posts
miniMia has a reputation beyond reputeminiMia has a reputation beyond reputeminiMia has a reputation beyond reputeminiMia has a reputation beyond reputeminiMia has a reputation beyond reputeminiMia has a reputation beyond repute
Re: [Ins and Outs] Buying Property in Switzerland

Quote:
View Post
The best way is to see whether the bank will give you a mortgage based on the anticipated sale price. If not then you have an answer. If yes, then you can be fairly certain that the price is right. To be sure to be sure ask for an interest only mortgage with no capital investment.
The broker we are dealing with said that the bank would only make an evaluation on the house after we negotiated an offer....This seems rather strange, but they said we can make a offer subject to confirming the price with the bank. Or we could pay an expert form ......* to value the house for a price in the 1500 franc range.

Also, can you explain a bit more about this no capital/ interest only mortgage you are talking about? We were offered this option, but we still need to have +/-20% in cash even if we don't hand it over.
Reply With Quote
  #122  
Old 03.08.2007, 16:41
magyir's Avatar
Forum Veteran
 
Join Date: Oct 2006
Location: Wallisellen
Posts: 1,536
Groaned at 8 Times in 8 Posts
Thanked 434 Times in 312 Posts
magyir has an excellent reputationmagyir has an excellent reputationmagyir has an excellent reputationmagyir has an excellent reputation
Re: [Ins and Outs] Buying Property in Switzerland

Quote:
View Post
That depends. There is a three tier pension fund here 1 state, 1 company, 1 private.

I guess that you are referring to the company pension fund in which case the correct answer is the current amount.

HOWEVER, check out using your 3rd pillar as here you can pledge the future amount based on whatever is currently in plus x times 6365 where x is 65 - your current age. If you are 35 and have nothing in then you are talking about 190K which will provide you capital on a property approaching SFr. 1 million.

IF you are talking about your company pension fund then you should check it carefully because it is not the full pot that can be pledged just a part of it. On your pension statement it will state the amount - it is a high percentage but not 100%...

With the state pension you can do nothing other than wait.

Richard,
Just saw this, thanks.
Mick
Reply With Quote
  #123  
Old 03.08.2007, 16:41
Forum Legend
 
Join Date: May 2005
Location: Luzern currently
Posts: 2,565
Groaned at 4 Times in 4 Posts
Thanked 720 Times in 373 Posts
Richard has a reputation beyond reputeRichard has a reputation beyond reputeRichard has a reputation beyond reputeRichard has a reputation beyond reputeRichard has a reputation beyond repute
Re: [Ins and Outs] Buying Property in Switzerland

Quote:
View Post
Hi Richard,
Sorry to be back so soon, in the UK I have an interest only mortgage no sweat but Ive noticed postbank only have one mortgage type with the amortisation (capital repayment) through a 3a pension. And they want to convert my pension 20% BVG/2nd Pillar giving me a circa 6k tax bill (in Kanton Zurich).

Regarding the tax situation in Kanton Zurich Notary Fee is 2% and Tax is 1% normally split between buyer and vendor. If you convert your 20% through pensions expect to pay between 2 (Schwyz) and 6% (Zurich, Bern) taxes. A charge is more tax efficient.

Raffeissenbank called me today and insisted I had 10% cash on top of my 20% pension and UK property equity!!!! Unbelieveable. So risk averse.

Am now totally at their mercy trying to sort this allout, am still unclear how I can take out insurance for as much as possible and convert as little equity/cash as possible.

Anyone got any tips? My stress levels are affecting my slumber
Hi tip number one.
Read the mail I sent to Chester. I actually named three banks, who will let you achieve what you want to achieve.

No Bank and I mean NO Bank should request that you cash in your pension scheme which is what you appear to be suggesting. This is downright criminal. They should be happy with a Pfandbrief ie a claim on the pension to the amount stated. 3rd Pillar is the way to go.
Tax on property purchase and property transfer is according to the tax office in kanton ZH not levied.
Reply With Quote
This user would like to thank Richard for this useful post:
  #124  
Old 03.08.2007, 16:51
magyir's Avatar
Forum Veteran
 
Join Date: Oct 2006
Location: Wallisellen
Posts: 1,536
Groaned at 8 Times in 8 Posts
Thanked 434 Times in 312 Posts
magyir has an excellent reputationmagyir has an excellent reputationmagyir has an excellent reputationmagyir has an excellent reputation
Re: [Ins and Outs] Buying Property in Switzerland

Thx Richard,
So if I understand correctly even ifI have no Pillar 3 yet, I can start this year aged 37 and qualify for 178k worth of future reckonable equity?

Maybe I misunderstood but the bank was Postbank that suggested cashing in. I'm now consulting elsewhere.

According to the draft sale agreement, there is a 2% Notary Fee and 1% fee for something else.
Reply With Quote
  #125  
Old 03.08.2007, 17:10
Forum Legend
 
Join Date: May 2005
Location: Luzern currently
Posts: 2,565
Groaned at 4 Times in 4 Posts
Thanked 720 Times in 373 Posts
Richard has a reputation beyond reputeRichard has a reputation beyond reputeRichard has a reputation beyond reputeRichard has a reputation beyond reputeRichard has a reputation beyond repute
Re: [Ins and Outs] Buying Property in Switzerland

Quote:
View Post
The broker we are dealing with said that the bank would only make an evaluation on the house after we negotiated an offer....This seems rather strange, but they said we can make a offer subject to confirming the price with the bank. Or we could pay an expert form ......* to value the house for a price in the 1500 franc range.

Also, can you explain a bit more about this no capital/ interest only mortgage you are talking about? We were offered this option, but we still need to have +/-20% in cash even if we don't hand it over.
A no capital interest only mortgage is the most tax efficient option there is for purchasing property. It only works with your own home or property that yields at least double the interest payment.

Simply put you purchase a house with the banks money and offer them something in security which covers your 20%. The simplest thing to pledge and the most tax efficient option is to pledge your 3rd pillar. Contributions to this are free of tax as are profits on the investment/interest. There is a slight downside in that you cannot choose some of the most aggressive investments as the risk is too high. Ah but my 3rd pillar is not 200K! No problem you only need to keep paying in for around 20 years and it will be and the bank will accept that commitment as security. Given that life is so full of uncertainties they will also insist that you take out life assurance to cover the 200K. The amount of cover will decrease with time as your 3rd pillar increases. Usually the bank prefers to organise the insurance and it is not that cheap. This covers the bank against losses for all eventualities apart from you being made redundant.

Note as well that with many banks any type of foreign security is not acceptable. This includes life policies and properies, but not foreign shares. Deposits for example time deposits held by foreign institutions can be pledged.
Reply With Quote
  #126  
Old 04.08.2007, 00:16
Lorenheim's Avatar
Junior Member
 
Join Date: Jun 2007
Location: TI
Posts: 47
Groaned at 1 Time in 1 Post
Thanked 134 Times in 58 Posts
Lorenheim has earned some respectLorenheim has earned some respect
Re: [Ins and Outs] Buying Property in Switzerland

Quote:
View Post
How do I go about getting a fair evaluation / Valuation on Property.
below is a paste of a spreadsheet a friend drew up for me (he's an architect). The house we wanted to buy was 1420sq.m plot - assuming a land price of 520chf/sq.m for buildable land (someone paid this for land nearby) and a construction cost (off the shelf) per cubic metre - this is how much you'd expect to pay for the house....

Note that you can't build on all the land, so in this case there is 710*520 + 710*416 as the non buildable land is worth less. Also the value assumes a 'modern' build. In fact the house is dated and tatty, so the valuation is a little high. But you can at least see how the calculation is done. A good location will increase the amount, in our case a tatty condition reduces it (in fact the price of 450/cub.m reflects an old build and a modern one might be 600)...anyway, I hope this gives you an idea of how you might value a property (of this kind).

I've used dots instead of spaces to try to make the fixed width courier font table alignment correct (when previewd, looks ok, with some odd spaces added by the editor). (Can supply excel spreadsheet on request - uploads?)


House...........................Dimensions.from.Dr awings..
House.Front.Area................5.3m.x.11.7m...... .......62.01
House.Back.Area.................9.2m.x.13.3m...... .......122.36
Total.Construction.Area.........Front.+.Back...... .......184.37
Construction.Height.............4.5m.............. .......4.50
Construction.Volume.House.......Total*Height...... .......829.67
....
Garage....
Garage.Area.....................9.0m.x.6.0m....... .......54.00
Garage.Height...................3.5m.............. .......3.50
Garage.Volume...................Area*Height....... .......189.00
Total.Construction.Volume.(m3)..House+Garage.volum e......1018.67
Year.of.Construction..1971..

Construction....................Price/m3.(CHF)...........450..
House.Value.....................Volume*Price/m3..........458399.25
....
Land............................Total.Area.sq.m... .......1420.00
Price.Land.Buildable/sq.m.......710......................520.00
Price.Land.Built-on/sq.m........710......................416.00
Total.Land.Price................710*520.+.710*416. .......664560.00
....
Total.Value.....................Land.+.Constructio n......1122959.25

Reply With Quote
  #127  
Old 07.08.2007, 14:04
magyir's Avatar
Forum Veteran
 
Join Date: Oct 2006
Location: Wallisellen
Posts: 1,536
Groaned at 8 Times in 8 Posts
Thanked 434 Times in 312 Posts
magyir has an excellent reputationmagyir has an excellent reputationmagyir has an excellent reputationmagyir has an excellent reputation
Re: [Ins and Outs] Buying Property in Switzerland

Quote:
View Post
A no capital interest only mortgage is the most tax efficient option there is for purchasing property. It only works with your own home or property that yields at least double the interest payment.

Simply put you purchase a house with the banks money and offer them something in security which covers your 20%. The simplest thing to pledge and the most tax efficient option is to pledge your 3rd pillar. Contributions to this are free of tax as are profits on the investment/interest. There is a slight downside in that you cannot choose some of the most aggressive investments as the risk is too high. Ah but my 3rd pillar is not 200K! No problem you only need to keep paying in for around 20 years and it will be and the bank will accept that commitment as security. Given that life is so full of uncertainties they will also insist that you take out life assurance to cover the 200K. The amount of cover will decrease with time as your 3rd pillar increases. Usually the bank prefers to organise the insurance and it is not that cheap. This covers the bank against losses for all eventualities apart from you being made redundant.

Note as well that with many banks any type of foreign security is not acceptable. This includes life policies and properies, but not foreign shares. Deposits for example time deposits held by foreign institutions can be pledged.
Hi there so thought I'd give you all an update on my situtation.

I still don't have an offer from a bank and one is still insisting I surrender by 2nd pillar.
If anyone can provide me with a bank that will let me do this 3rd pillar + insurance policy thing Richard mentions I'd appreciate it. Not yet my reality I'm afraid. Maybe the ZKB will see sense.

Cheers
Reply With Quote
  #128  
Old 13.08.2007, 15:08
Forum Legend
 
Join Date: May 2005
Location: Luzern currently
Posts: 2,565
Groaned at 4 Times in 4 Posts
Thanked 720 Times in 373 Posts
Richard has a reputation beyond reputeRichard has a reputation beyond reputeRichard has a reputation beyond reputeRichard has a reputation beyond reputeRichard has a reputation beyond repute
Re: [Ins and Outs] Buying Property in Switzerland

Quote:
View Post
Hi there so thought I'd give you all an update on my situtation.

I still don't have an offer from a bank and one is still insisting I surrender by 2nd pillar.
If anyone can provide me with a bank that will let me do this 3rd pillar + insurance policy thing Richard mentions I'd appreciate it. Not yet my reality I'm afraid. Maybe the ZKB will see sense.

Cheers
So a bank that will let me do this 3rd pillar and insurance policy thing... Here is a link to one:
https://entry.credit-suisse.ch/csfs/...pageToShow=lb8

I am not recommeding it etc but there you are a Vorsorge Hypothek.
Reply With Quote
This user would like to thank Richard for this useful post:
  #129  
Old 17.09.2007, 12:29
Music Mole's Avatar
Member
 
Join Date: Dec 2005
Location: SO
Posts: 240
Groaned at 0 Times in 0 Posts
Thanked 21 Times in 17 Posts
Music Mole has earned some respectMusic Mole has earned some respect
Re: What to look for when buying a house in Switzerland

Quote:
View Post

So how do you raise the 20%. .....

2. Pledge your pension money. The money stays in your account and the bank has some form of security. Theoretically the bank can take it if you default. However they are not able to do this quite as easily as you might think as the money is tied until you retire or leave and they have no access till that date...

3. Pledge your third pillar. This is very tax efficient as you are relieved the tax burden on this money and this can be used to keep the bank happy. However you will need to have a life insurance policy to cover the difference between the 20% and the amount in the pot - but this is quite cheap.
RE: 2. - would foreign retirement funds count? (IRA's and 401(k)s in the US for example)

3. If someone hasn't been working here long, does that person have a 3rd pillar (or is it something we have to initiate/open)?

This thread is very useful! My chin is still on the floor realizing that we could be paying half of our current rent, to buy a home in the area we are planning to move to next year anyway! oh to have a garden again!

Thanks for any help/answers you can provide to the above questions.
__________________
Thus far you have been adrift in the sheltered harbour of my patience. ~ Cobra Bubbles
Reply With Quote
  #130  
Old 17.09.2007, 14:10
bravesocks's Avatar
Junior Member
 
Join Date: Sep 2007
Location: fribourg
Posts: 72
Groaned at 50 Times in 16 Posts
Thanked 19 Times in 15 Posts
bravesocks is considered unworthybravesocks is considered unworthybravesocks is considered unworthy
Re: [Ins and Outs] Buying Property in Switzerland

Quote:
View Post
Hi Richard,
Sorry to be back so soon, in the UK I have an interest only mortgage no sweat but Ive noticed postbank only have one mortgage type with the amortisation (capital repayment) through a 3a pension. And they want to convert my pension 20% BVG/2nd Pillar giving me a circa 6k tax bill (in Kanton Zurich).

Regarding the tax situation in Kanton Zurich Notary Fee is 2% and Tax is 1% normally split between buyer and vendor. If you convert your 20% through pensions expect to pay between 2 (Schwyz) and 6% (Zurich, Bern) taxes. A charge is more tax efficient.

Raffeissenbank called me today and insisted I had 10% cash on top of my 20% pension and UK property equity!!!! Unbelieveable. So risk averse.

Am now totally at their mercy trying to sort this allout, am still unclear how I can take out insurance for as much as possible and convert as little equity/cash as possible.

Anyone got any tips? My stress levels are affecting my slumber
Im not sure if it actually works over here but my contact at my bank has advised me that there should be no problem with this method to raise deposits although she had not used it herself. I call it creative financing

Its quite simple really, it goes like this:

1. Find a house you like, slag it off as much as you can as you are doing the viewing....never lower your poker face.

2. Go to the bank tell them you have found a property you would like valued for mortgage purposes, tell them the price is 10-15% higher than the asking price. ( remember the bank will not be in the notares office when you sign and the 20% required for a deposit is purely for their protection not yours) be with the valuer if you can and try and keep him and the seller apart, if the money question comes up do your best to keep figures out of it, remind the valuer you want to know if the property is worth what the seller is asking, please do not embarass the seller and possibly jeopadise your chances of purchase..... I'm 100% confident a Swiss valuer will understand this point and adhere to your wishes.

3. Armed with the banks valuation and an offer, go back to the property and place your offer to the seller, if you go under 25% which i always do sometimes you can be quite surprised with a yes, if its not a yes it will show you if you do recieve an immediate ' off' that the seller is willing to negotiate, that then depends on finding that middle ground.

If you manage to get 10% off, which is not unreasonable in a static market then your quids in.

On paper and in the eyes of the law the bank has offered you an offer based on figures it's professional valuer has given, it's only your tremendous negotiation skills which have reduced the price, this 'gift' has not only earnt you 100% of your 20% deposit you also have 5% left over from the amount the bank has leant you to pay the notare fees and maybe a couple of bottles of bubbly....

I have yet to try this method here yet....I made so much money in the UK with it i paid cash for my pad here

I will be trying this method shortly once I get my Permit B..... I ll keep you posted.....
Reply With Quote
  #131  
Old 17.09.2007, 22:06
miniMia's Avatar
Forum Legend
 
Join Date: Apr 2007
Location: romandie
Posts: 8,848
Groaned at 85 Times in 76 Posts
Thanked 7,391 Times in 3,729 Posts
miniMia has a reputation beyond reputeminiMia has a reputation beyond reputeminiMia has a reputation beyond reputeminiMia has a reputation beyond reputeminiMia has a reputation beyond reputeminiMia has a reputation beyond repute
Re: [Ins and Outs] Buying Property in Switzerland

I'm a bit confused at what you are suggesting to do... Mortgages are made based on the purchase price of the house, not the evaluated price. This will be mentioned in the contract and on the "cedule" (which I think is tranlated as the deed). Did I miss something?
Reply With Quote
  #132  
Old 18.09.2007, 11:25
Forum Legend
 
Join Date: May 2005
Location: Luzern currently
Posts: 2,565
Groaned at 4 Times in 4 Posts
Thanked 720 Times in 373 Posts
Richard has a reputation beyond reputeRichard has a reputation beyond reputeRichard has a reputation beyond reputeRichard has a reputation beyond reputeRichard has a reputation beyond repute
Re: [Ins and Outs] Buying Property in Switzerland

Quote:
View Post
I'm a bit confused at what you are suggesting to do... Mortgages are made based on the purchase price of the house, not the evaluated price. This will be mentioned in the contract and on the "cedule" (which I think is tranlated as the deed). Did I miss something?
Yes you missed a small point. Risk. A bank will happily lend you 250K to buy something worth 500K as long as they can hold the deeds until they are paid off (I know there is no such thing as deeds here its just principle). Hence the fabled 20% deposit has no function other than reducing the risk to the bank ie the 500K property has only a 400K risk associated with it when you have paid the deposit in cash. If the risk is reduced below the 20% "barrier" then the banks risk is covered and they are happy without you having to pay cash in. This is the principle.

Your confusion perhaps is your statement that a mortgage is made on the purchase price of the house. This is fundamentally incorrect. A mortgage is ALWAYS made on the value of the house as this stands as security against the loan you take out. A mortgage is not a loan at all but the security of the loan.
Reply With Quote
  #133  
Old 18.09.2007, 11:32
Forum Legend
 
Join Date: May 2005
Location: Luzern currently
Posts: 2,565
Groaned at 4 Times in 4 Posts
Thanked 720 Times in 373 Posts
Richard has a reputation beyond reputeRichard has a reputation beyond reputeRichard has a reputation beyond reputeRichard has a reputation beyond reputeRichard has a reputation beyond repute
Re: What to look for when buying a house in Switzerland

Quote:
View Post
RE: 2. - would foreign retirement funds count? (IRA's and 401(k)s in the US for example)

3. If someone hasn't been working here long, does that person have a 3rd pillar (or is it something we have to initiate/open)?

This thread is very useful! My chin is still on the floor realizing that we could be paying half of our current rent, to buy a home in the area we are planning to move to next year anyway! oh to have a garden again!

Thanks for any help/answers you can provide to the above questions.
Foreign non-liquid investments which would include pension funds and term life assurance are not acceptable as security.
A 3rd pillar is something you need to initiate by going along to a bank(easiest but can also be an insurance company) and opening one.
Reply With Quote
  #134  
Old 25.09.2007, 18:50
miniMia's Avatar
Forum Legend
 
Join Date: Apr 2007
Location: romandie
Posts: 8,848
Groaned at 85 Times in 76 Posts
Thanked 7,391 Times in 3,729 Posts
miniMia has a reputation beyond reputeminiMia has a reputation beyond reputeminiMia has a reputation beyond reputeminiMia has a reputation beyond reputeminiMia has a reputation beyond reputeminiMia has a reputation beyond repute
Re: [Ins and Outs] Buying Property in Switzerland

Quote:
View Post
Yes you missed a small point. Risk. A bank will happily lend you 250K to buy something worth 500K as long as they can hold the deeds until they are paid off (I know there is no such thing as deeds here its just principle). Hence the fabled 20% deposit has no function other than reducing the risk to the bank ie the 500K property has only a 400K risk associated with it when you have paid the deposit in cash. If the risk is reduced below the 20% "barrier" then the banks risk is covered and they are happy without you having to pay cash in. This is the principle.

Your confusion perhaps is your statement that a mortgage is made on the purchase price of the house. This is fundamentally incorrect. A mortgage is ALWAYS made on the value of the house as this stands as security against the loan you take out. A mortgage is not a loan at all but the security of the loan.
Yes. I understand the mortgage being based ultimately on the value of the house. I guess I don't understand Bravesocks method.... Too many numbers involved.

Last edited by miniMia; 25.09.2007 at 19:04.
Reply With Quote
  #135  
Old 01.10.2007, 17:24
Newbie 1st class
 
Join Date: Oct 2007
Location: Winterthur
Posts: 13
Groaned at 0 Times in 0 Posts
Thanked 4 Times in 3 Posts
Wordbird has no particular reputation at present
Re: [Ins and Outs] Buying Property in Switzerland

Hello
We have a slightly different situation. We have been here for a year on B-permits and are just selling our house in the UK. This will release more than enough money to pay the 20% deposit on a knackered old 5-bed 'fishscale' villa we've seen in the Thurgau mountains near Sirnach and pay for some renovation work it desperately needs.

We're not planning to stay here for too long - just 2 or 3 years - as we have a pre-school child that we don't want to miss too much UK schooling (I have no doubt Swiss schools are excellent but we plan to end up in the UK).

We're quite happy to put the work in to renovate this place and we'll enjoy living there, but we wondered about:
a) resale value - while the Swiss market isn't rising enormously, we don't want to lose money - is it possible to invest time and trouble (and yes, money) in a house and sell it on for a little bit more than you paid?
b) I heard there is some restriction on re-selling property within 5 years of purchase, to keep developers from pushing prices up.
c) How do we find out about the local canton/district laws about who can buy property in an area? Do we ask the estate agent (ReMax)?

I kind of work on the assumption that if we want to live halfway up a bloody mountain then other people will want to live there and if we do a decent job of renovating it, someone will want to buy it. Am I deluded?

I'd appreciate your advice and help.
Reply With Quote
  #136  
Old 01.10.2007, 17:45
smackerjack's Avatar
Forum Veteran
 
Join Date: Jul 2007
Location: U.K/VAUD
Posts: 2,061
Groaned at 14 Times in 7 Posts
Thanked 2,260 Times in 982 Posts
smackerjack has a reputation beyond reputesmackerjack has a reputation beyond reputesmackerjack has a reputation beyond reputesmackerjack has a reputation beyond reputesmackerjack has a reputation beyond repute
Re: [Ins and Outs] Buying Property in Switzerland

Regarding your point a - in this thread or one of the tags there was a very interesting question on being taxed on profit after doing renovations. It was a surprise to me and I am sure a big help to your question as it did cover many points you asked. They are a clever lot on this forum!
Reply With Quote
  #137  
Old 01.10.2007, 18:14
AbFab's Avatar
Forum Legend
 
Join Date: Sep 2006
Location: Zürich
Posts: 6,502
Groaned at 304 Times in 201 Posts
Thanked 8,080 Times in 2,887 Posts
AbFab has a reputation beyond reputeAbFab has a reputation beyond reputeAbFab has a reputation beyond reputeAbFab has a reputation beyond reputeAbFab has a reputation beyond reputeAbFab has a reputation beyond repute
Re: [Ins and Outs] Buying Property in Switzerland

Hi Wordbird,

If the property is cheap, is the reason only its condition? What about location and time/convenience of getting the Zurich?

If the property hasn't sold - will you be able to resell it? Even if you tart it up.

Any profits will be subject the Grundstuckgewinsteurer. A sort of capital gains tax introduced to stop speculation (which is essentially what you are trying to do). This tax varies from area to area but expect it to be in the region of 35-40% of the profit if you do not re-invest the money in another Swiss property of the same of higher value.

That's likely to be the end of that idea...
__________________


************************************
Fed up of smoking? 10 tips to quit in 10 days
Reply With Quote
  #138  
Old 01.10.2007, 18:24
Newbie 1st class
 
Join Date: Oct 2007
Location: Winterthur
Posts: 13
Groaned at 0 Times in 0 Posts
Thanked 4 Times in 3 Posts
Wordbird has no particular reputation at present
Re: [Ins and Outs] Buying Property in Switzerland

35-40% Bilmey!!
Yes, that might be a bit off-putting.
We'll have to do our sums very carefully.

The place is within a half hour commute to Winterthur, close to Wil and St Gallen, so I don't know if it would appeal to someone who works in Zurich.

I think it might be a pipe dream...
Reply With Quote
  #139  
Old 01.10.2007, 18:37
Lorenheim's Avatar
Junior Member
 
Join Date: Jun 2007
Location: TI
Posts: 47
Groaned at 1 Time in 1 Post
Thanked 134 Times in 58 Posts
Lorenheim has earned some respectLorenheim has earned some respect
Re: [Ins and Outs] Buying Property in Switzerland

Where can one find tables of tax rates for years-owned/canton/etc etc (with english explanations if necessary and possible - NB. no German spoken, but understand French/Italian).
Reply With Quote
  #140  
Old 01.10.2007, 18:38
Nairda's Avatar
Senior Member
 
Join Date: Jun 2007
Location: UK
Posts: 354
Groaned at 2 Times in 2 Posts
Thanked 147 Times in 79 Posts
Nairda has made some interesting contributions
Re: [Ins and Outs] Buying Property in Switzerland

Wordbird, If I were moving to Switzerland for 1-3 years before returning to the UK, personally I would rent out my UK home and rent somewhere in Switzerland.

This would avoid the hassle and costs involved in selling-buying-selling-buying.
Provide more flexibility - maybe after the first year I'd want to live more in town or would have found a better job elsewhere.
Also, over that period house prices are unlikely to increase more in Switzerland than the UK. OK, one can't be sure, but given the intention is to return to the UK why take the risk?
And renting is a perfectly normal thing to do in Switzerland with a much better rental market than in the UK.
__________________
"What was the rude word?" "Was it really? Good heavens, you frighten me to death." - Bill Grundy.
Reply With Quote
Reply




Currently Active Users Viewing This Thread: 1 (0 members and 1 guests)
 
Thread Tools
Display Modes

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are Off
Pingbacks are Off
Refbacks are Off



All times are GMT +2. The time now is 06:00.


Powered by vBulletin® Version 3.8.4
Copyright ©2000 - 2016, Jelsoft Enterprises Ltd.
LinkBacks Enabled by vBSEO 3.1.0