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Old 09.02.2017, 09:31
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Re: what's the disadvantage of buying a property without mortgage?

[QUOTE=sva;2737948]You are allowed only ONE residence on a B permit.

How many properties are you allowed to buy with permit C? Do you have to live in them (one of them? )
  #22  
Old 09.02.2017, 09:32
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Re: what's the disadvantage of buying a property without mortgage?

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You are allowed only ONE residence on a B permit.

How many properties are you allowed to buy with permit C? Do you have to live in them (one of them? )
unlimited, no requirement to do anything. Note this is for purchase, no permit required for ownership so you can buy 500 properties with a C permit, leave CH yet retain the 500 properties.
  #23  
Old 09.02.2017, 09:32
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Re: what's the disadvantage of buying a property without mortgage?

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maybe he has all that money because he is not wasting it. And BTW: his family can not live in cash. You may cover yourself in money, but it doesn't keep you too warm
Ok so "Captain Obvious", it seems you never heard of "temporary accomodations", "hotels", "Air B&B", "Short terms rental", etc...

Seems that there's no link either with groaning and intelligence...

Lot of learning today!
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Old 09.02.2017, 09:39
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Re: what's the disadvantage of buying a property without mortgage?

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Seems that there's no link either with groaning and intelligence...
Apparently not with smugness nor general douche-baggery either.
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Old 09.02.2017, 09:42
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Re: what's the disadvantage of buying a property without mortgage?

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Ok so "Captain Obvious", it seems you never heard of "temporary accomodations", "hotels", "Air B&B", "Short terms rental", etc...

Seems that there's no link either with groaning and intelligence...

Lot of learning today!
calm down... EPMike was just trying to be nice. I never prove that I have such amount of money. and even if one has such money, it could be nothing to do with intelligence. You see tons of people getting rich out of their stupidity of pure luck. But they are rich.
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Old 09.02.2017, 09:48
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Re: what's the disadvantage of buying a property without mortgage?

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Apparently not with smugness nor general douche-baggery either.
I find amusing that General Douche-bag is able to understand basic actions like "where will my family live in the gap time" especially when not having so much money (allegedly because I'm spending it all, another great EF contribution).

I really though it was common sense and that there was nothing clever about knowing that. Turns out I was wrong.

Wow I feel better, I actually have some skills, thanks!

PS: Go ahead, I'm not restraining you for wast...using your time to explain Mr "I can-afford-Swiss-property-outright-with-cash-but-I-have-no-common-sense-or-I-think-renting-is-a-decease-reserved-for-poor-class-people" how he can house his family temporarily. It's EF after all, there's even recommendations on "not leaving your keys in mailbox"...
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Old 09.02.2017, 09:49
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Re: what's the disadvantage of buying a property without mortgage?

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calm down... EPMike was just trying to be nice. I never prove that I have such amount of money. and even if one has such money, it could be nothing to do with intelligence. You see tons of people getting rich out of their stupidity of pure luck. But they are rich.
LOL, yes he was groaning me for my own good.
A bit like when you kick your kid to "educate them".

Thanks EPMike, and me who though you were just being stupid, you were actually educating me!

It's amazing how much I am learning today!
  #28  
Old 09.02.2017, 09:55
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Re: what's the disadvantage of buying a property without mortgage?

^^^^Lighten up Francis. Your intelligence is trying to rise above your coherency.
  #29  
Old 09.02.2017, 09:57
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Re: what's the disadvantage of buying a property without mortgage?

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Now I got a small flat with about 70% mortgage. For the next, I want to get a bigger house and rent the small flat out. The issue is that I could not apply for more mortgage because of my income. What if I buy the house without mortgage? Am I allowed to do that? What's the disadvantage? it is the tax? How much more would I pay then?
basically you avoid all the costs of getting a mortgage and paying interest.
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Old 09.02.2017, 10:08
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Re: what's the disadvantage of buying a property without mortgage?

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maybe he has all that money because he is not wasting it. And BTW: his family can not live in cash. You may cover yourself in money, but it doesn't keep you too warm

It does if you burn it, Chf 1k notes have good thermic properties
  #31  
Old 09.02.2017, 10:22
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Re: what's the disadvantage of buying a property without mortgage?

Presumably you already have the funds to buy outright and these funds have been declared on your Swiss tax declaration and are subject to wealth tax (a relatively minor tax).

So converting this wealth into property will attract no extra wealth tax.

When you sell a property here, the local Notoriat will inform the tax office who will raise a bill for any capital gains achieved. You will receive this bill even if you don't need to pay it!

You avoid this CGT by buying a property of the same value of your sale or higher within Switzerland.

To the question of no mortgage, the only disadvantage I can see is that rates below 1% for fixed mortgages, it's a crime not to borrow...
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