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Old 02.09.2020, 12:46
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Re: General property buying question(s)

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No mortgage means the property shows up as an asset on your tax return
What if it is already showing as an asset with the money sitting in the bank?
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Old 02.09.2020, 12:55
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Re: General property buying question(s)

Maybe you don't include theoretical rent on your tax return where you are eyebeebe, but here we do whether we live in it or not. Also have another CHF15k theoretical rent for our UK house which isn't rented out that also goes on the tax return.

Talk to you later I have absolutely no idea why the difference between the two figures. All I know is when we bought the house we had to fill in a 4 page document to go with the tax return for that year which had stuff like how much living space it had (sloping ceilings in some rooms cut down on this btw for us), whether we benefited from street lighting (no) and how near to a fire hydrant we are. When we got the calculated figures back later on the value was CHF191k and it's stayed at that ever since.
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  #63  
Old 02.09.2020, 12:59
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Re: General property buying question(s)

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Your house was on sale for 320k
You paid cash I assume 70k

You took mortgae out for the remaining 250k
On the 250k you pay 4k interest
_______________________________________________

Why is valuation for tax CHF191k and not 320k or 250k?

This really is a mind **** for me. As an example, imagine you have 320k just sitting in the bank. You declare it on your tax return and pay tax on it.
If you buy the property 100% in cash for 320k, it still would be shown as 320k property on your tax return. It just changed from liquid cash to solid cash. Then if you make repairs to your property, can't you just put it as outgoings on your tax return?
the tax value of property for weath tax purposes can be very different from the market value. i know one case where it was so much lower that combined with the mortgage, wealth tax was completely wiped out.

i'm actually exploring this as an option to manage wealth taxes...
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Old 02.09.2020, 13:26
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Re: General property buying question(s)

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the tax value of property for weath tax purposes can be very different from the market value. i know one case where it was so much lower that combined with the mortgage, wealth tax was completely wiped out.

i'm actually exploring this as an option to manage wealth taxes...
Yes, we had a negative figure for several years for wealth tax because of this. Only when we added in the UK house did it change, though the negative figure was shrinking year on year. But it also depends on what else you put on your tax returns of course.
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  #65  
Old 02.09.2020, 13:34
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Re: General property buying question(s)

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the tax value of property for weath tax purposes can be very different from the market value. i know one case where it was so much lower that combined with the mortgage, wealth tax was completely wiped out.

i'm actually exploring this as an option to manage wealth taxes...
Our Gemeinde gave us the valuation. I have negative net worth on paper now.
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  #66  
Old 02.09.2020, 14:37
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Re: General property buying question(s)

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Our Gemeinde gave us the valuation. I have negative net worth on paper now.
Likewise, the mortgage is 50% more than the taxable value of the apartment (which is about 30% of the market value), so negative asset.

Tom
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Old 02.09.2020, 14:40
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Re: General property buying question(s)

My wife bought a rustico for 90k cash, taxable value is 6K or so.

Tom
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  #68  
Old 02.09.2020, 16:40
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Re: General property buying question(s)

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i'm actually exploring this as an option to manage wealth taxes...
I would not bank on such a strategy, eventually the will revalue to market or close to market. Historically prices did not change much but on paper the building depreciated unless renovated.
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Old 02.09.2020, 17:25
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Re: General property buying question(s)

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I would not bank on such a strategy, eventually the will revalue to market or close to market. Historically prices did not change much but on paper the building depreciated unless renovated.
Generally , nobody has a clue where taxes are headed and even taxes that seemed unassailable such as Eigenmietwert are now on the chopping block. For people who banked on deriving some advantage from it this may mean re-assessing their strategy .

Change is the only constant
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Old 02.09.2020, 17:52
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Re: General property buying question(s)

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Eigenmietwert are now on the chopping block.
Eigenmietwert has been constantly on the chopping block at least since 1992 ! Harder to kill then a seven headed Hydra.
https://anneepolitique.swiss/dossiers/613
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Old 02.09.2020, 18:02
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Re: General property buying question(s)

If you buy an apartment check these things:
- How much money is in the renovation fund (Erneuerungsfond).
- How much money you have to pay into the renovation fund .
- How much renovation backlog the building has (when was roofing, facade, heating system done).
- The reports/protocols of the last few years annual owners meeting.
- If it is a land lease or you also own the land.
- If it is land lease how many years are left and what the conditions at the end of the lease are.

Also check if it a private road or public roads which leads to the house. If private road include condition of road in your evaluation.
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  #72  
Old 03.09.2020, 12:14
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Re: General property buying question(s)

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I think you linked same page for both.


This seems like a good buy. Built in 2020.
https://www.homegate.ch/kaufen/3000604942
Ground floor will maybe impact the mountain view though.

I will then put wooden floors and upgrade the kitchen bathroom myself.

Same building has a 3.5 room flat now too-

https://www.homegate.ch/kaufen/3000604941


2.5 for 189,000
3.5 for 259,000
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Old 03.09.2020, 12:17
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Re: General property buying question(s)

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Same building has a 3.5 room flat now too-

https://www.homegate.ch/kaufen/3000604941


2.5 for 189,000
3.5 for 259,000
Not a clue where that is but that is nice

After a lot of zooming out, it's in the middle of nowhere but still looks good
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Old 03.09.2020, 12:28
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Re: General property buying question(s)

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Not a clue where that is but that is nice
I have hiked near that region. I have a list of areas that are interesting from my POV. I am going to visit them this year to gather intel, talk with the locals etc.

I won't be buying anything this year but maybe in a year, we shall see. I am wondering how COVID will impact prices, if at all?
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Old 03.09.2020, 13:28
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Re: General property buying question(s)

Recently I saw a flat near a mountain railway station. First i thought, no way will I live there but when I am old it will be fun people watching. Actually I like people watching even now
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  #76  
Old 05.09.2020, 09:32
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Re: General property buying question(s)

I don't understand why this flat is not selling?
Great location from my POV, beautiful view, parking place and road right behind the house. Only thing I will change is upgrade the WC tiles etc.

What if the person living on the ground floor ends up beign a psycho You kind of stuck with them in the middle of nowhere
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Old 05.09.2020, 11:23
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Re: General property buying question(s)

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I don't understand why this flat is not selling?
Great location from my POV, beautiful view, parking place and road right behind the house. Only thing I will change is upgrade the WC tiles etc.

What if the person living on the ground floor ends up beign a psycho You kind of stuck with them in the middle of nowhere
That looks really nice but I am not sure when they say "duplex" if the other part is side by side or one above below.

Certainly cheap enough and I would not be happy living there myself if I had too. Guess this is in the German speaking part?

Definitely interesting because it shows you that you can get something very nice on a budget if you don't mind living in nature.

About who ever lives in the other half, you could always visit and check that out of course.
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Old 05.09.2020, 20:13
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Re: General property buying question(s)

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That looks really nice but I am not sure when they say "duplex" if the other part is side by side or one above below.
Not sure myself!

Dictionary- A duplex house plan has two living units attached to each other, either next to each other as townhouses, condominiums or above each other like apartments.
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I would not be happy living there myself if I had too.
Why? Scared of darkness at night? Or just too remote? I think I will aim for a small village anyway.

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Definitely interesting because it shows you that you can get something very nice on a budget if you don't mind living in nature.
Yes definitely.

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About who ever lives in the other half, you could always visit and check that out of course.
When the time comes I will but you can't tell by 1-2 visits if the neighbour is a psycho. Then again I saw my current neighbour once and I knew instantly that something was off
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Old 05.09.2020, 20:43
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Re: General property buying question(s)

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I won't be buying anything this year but maybe in a year, we shall see. I am wondering how COVID will impact prices, if at all?
I was reading an article today (might have been on Swissinfo) and because of Covid chalets and mountain apartments have taken off in a big way. City dwellers seem to want to have an eerie in the mountains to escape city life after lockdown.
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Old 05.09.2020, 23:13
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Re: General property buying question(s)

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Not sure myself!

Dictionary- A duplex house plan has two living units attached to each other, either next to each other as townhouses, condominiums or above each other like apartments.
Why? Scared of darkness at night? Or just too remote? I think I will aim for a small village anyway.

Yes definitely.

When the time comes I will but you can't tell by 1-2 visits if the neighbour is a psycho. Then again I saw my current neighbour once and I knew instantly that something was off
My typo ... I meant "I would be happy living there" ... not sure how the not got in there
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