Go Back   English Forum Switzerland > Help & tips > Housing in general  
Reply
 
Thread Tools Display Modes
  #61  
Old 02.09.2020, 12:46
Talk to you later's Avatar
Senior Member
 
Join Date: Aug 2020
Location: ZH
Posts: 256
Groaned at 23 Times in 8 Posts
Thanked 300 Times in 132 Posts
Talk to you later has earned the respect of manyTalk to you later has earned the respect of manyTalk to you later has earned the respect of many
Re: General property buying question(s)

Quote:
View Post
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?
Reply With Quote
  #62  
Old 02.09.2020, 12:55
Medea Fleecestealer's Avatar
Forum Legend
 
Join Date: Jul 2011
Location: Switzerland
Posts: 21,291
Groaned at 369 Times in 284 Posts
Thanked 16,075 Times in 9,138 Posts
Medea Fleecestealer has a reputation beyond reputeMedea Fleecestealer has a reputation beyond reputeMedea Fleecestealer has a reputation beyond reputeMedea Fleecestealer has a reputation beyond reputeMedea Fleecestealer has a reputation beyond reputeMedea Fleecestealer has a reputation beyond repute
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.
Reply With Quote
The following 2 users would like to thank Medea Fleecestealer for this useful post:
  #63  
Old 02.09.2020, 12:59
Phil_MCR's Avatar
Forum Legend
 
Join Date: Oct 2009
Location: Basel
Posts: 13,789
Groaned at 271 Times in 177 Posts
Thanked 16,879 Times in 7,139 Posts
Phil_MCR has a reputation beyond reputePhil_MCR has a reputation beyond reputePhil_MCR has a reputation beyond reputePhil_MCR has a reputation beyond reputePhil_MCR has a reputation beyond reputePhil_MCR has a reputation beyond repute
Re: General property buying question(s)

Quote:
View Post
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...
Reply With Quote
The following 4 users would like to thank Phil_MCR for this useful post:
  #64  
Old 02.09.2020, 13:26
Medea Fleecestealer's Avatar
Forum Legend
 
Join Date: Jul 2011
Location: Switzerland
Posts: 21,291
Groaned at 369 Times in 284 Posts
Thanked 16,075 Times in 9,138 Posts
Medea Fleecestealer has a reputation beyond reputeMedea Fleecestealer has a reputation beyond reputeMedea Fleecestealer has a reputation beyond reputeMedea Fleecestealer has a reputation beyond reputeMedea Fleecestealer has a reputation beyond reputeMedea Fleecestealer has a reputation beyond repute
Re: General property buying question(s)

Quote:
View Post
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.
Reply With Quote
The following 2 users would like to thank Medea Fleecestealer for this useful post:
  #65  
Old 02.09.2020, 13:34
eyebeebe's Avatar
Forum Veteran
 
Join Date: May 2009
Location: Pfäffikon SZ
Posts: 1,733
Groaned at 16 Times in 15 Posts
Thanked 1,940 Times in 893 Posts
eyebeebe has a reputation beyond reputeeyebeebe has a reputation beyond reputeeyebeebe has a reputation beyond reputeeyebeebe has a reputation beyond reputeeyebeebe has a reputation beyond repute
Re: General property buying question(s)

Quote:
View Post
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.
Reply With Quote
The following 2 users would like to thank eyebeebe for this useful post:
  #66  
Old 02.09.2020, 14:37
st2lemans's Avatar
Forum Legend
 
Join Date: Dec 2010
Location: Lugano
Posts: 28,885
Groaned at 1,976 Times in 1,495 Posts
Thanked 34,279 Times in 16,307 Posts
st2lemans has a reputation beyond reputest2lemans has a reputation beyond reputest2lemans has a reputation beyond reputest2lemans has a reputation beyond reputest2lemans has a reputation beyond reputest2lemans has a reputation beyond repute
Re: General property buying question(s)

Quote:
View Post
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
Reply With Quote
  #67  
Old 02.09.2020, 14:40
st2lemans's Avatar
Forum Legend
 
Join Date: Dec 2010
Location: Lugano
Posts: 28,885
Groaned at 1,976 Times in 1,495 Posts
Thanked 34,279 Times in 16,307 Posts
st2lemans has a reputation beyond reputest2lemans has a reputation beyond reputest2lemans has a reputation beyond reputest2lemans has a reputation beyond reputest2lemans has a reputation beyond reputest2lemans has a reputation beyond repute
Re: General property buying question(s)

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

Tom
Reply With Quote
The following 2 users would like to thank st2lemans for this useful post:
  #68  
Old 02.09.2020, 16:40
fatmanfilms's Avatar
Forum Legend
 
Join Date: Apr 2010
Location: Verbier
Posts: 18,417
Groaned at 344 Times in 275 Posts
Thanked 17,998 Times in 9,748 Posts
fatmanfilms has a reputation beyond reputefatmanfilms has a reputation beyond reputefatmanfilms has a reputation beyond reputefatmanfilms has a reputation beyond reputefatmanfilms has a reputation beyond reputefatmanfilms has a reputation beyond repute
Re: General property buying question(s)

Quote:
View Post

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.
Reply With Quote
This user would like to thank fatmanfilms for this useful post:
  #69  
Old 02.09.2020, 17:25
amogles's Avatar
Forum Legend
 
Join Date: Mar 2008
Location: Zurich
Posts: 10,765
Groaned at 226 Times in 190 Posts
Thanked 22,430 Times in 9,525 Posts
amogles has a reputation beyond reputeamogles has a reputation beyond reputeamogles has a reputation beyond reputeamogles has a reputation beyond reputeamogles has a reputation beyond reputeamogles has a reputation beyond repute
Re: General property buying question(s)

Quote:
View Post
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
Reply With Quote
This user would like to thank amogles for this useful post:
  #70  
Old 02.09.2020, 17:52
aSwissInTheUS's Avatar
Forum Legend
 
Join Date: Nov 2007
Location: Zurich area
Posts: 11,938
Groaned at 90 Times in 81 Posts
Thanked 18,178 Times in 8,078 Posts
aSwissInTheUS has a reputation beyond reputeaSwissInTheUS has a reputation beyond reputeaSwissInTheUS has a reputation beyond reputeaSwissInTheUS has a reputation beyond reputeaSwissInTheUS has a reputation beyond reputeaSwissInTheUS has a reputation beyond repute
Re: General property buying question(s)

Quote:
View Post
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
Reply With Quote
The following 2 users would like to thank aSwissInTheUS for this useful post:
  #71  
Old 02.09.2020, 18:02
aSwissInTheUS's Avatar
Forum Legend
 
Join Date: Nov 2007
Location: Zurich area
Posts: 11,938
Groaned at 90 Times in 81 Posts
Thanked 18,178 Times in 8,078 Posts
aSwissInTheUS has a reputation beyond reputeaSwissInTheUS has a reputation beyond reputeaSwissInTheUS has a reputation beyond reputeaSwissInTheUS has a reputation beyond reputeaSwissInTheUS has a reputation beyond reputeaSwissInTheUS has a reputation beyond repute
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.
__________________
"Whoa, careful now. These are dangerous streets for us upper-lower-middle-class types. So avoid eye contact, watch your pocketbook, and suspect everyone."
Reply With Quote
The following 5 users would like to thank aSwissInTheUS for this useful post:
  #72  
Old 03.09.2020, 12:14
Talk to you later's Avatar
Senior Member
 
Join Date: Aug 2020
Location: ZH
Posts: 256
Groaned at 23 Times in 8 Posts
Thanked 300 Times in 132 Posts
Talk to you later has earned the respect of manyTalk to you later has earned the respect of manyTalk to you later has earned the respect of many
Re: General property buying question(s)

Quote:
View Post
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
Reply With Quote
This user would like to thank Talk to you later for this useful post:
  #73  
Old 03.09.2020, 12:17
magic's Avatar
Forum Veteran
 
Join Date: Mar 2008
Location: Geneva
Posts: 1,039
Groaned at 9 Times in 8 Posts
Thanked 568 Times in 272 Posts
magic has a reputation beyond reputemagic has a reputation beyond reputemagic has a reputation beyond reputemagic has a reputation beyond reputemagic has a reputation beyond repute
Re: General property buying question(s)

Quote:
View Post
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
Reply With Quote
  #74  
Old 03.09.2020, 12:28
Talk to you later's Avatar
Senior Member
 
Join Date: Aug 2020
Location: ZH
Posts: 256
Groaned at 23 Times in 8 Posts
Thanked 300 Times in 132 Posts
Talk to you later has earned the respect of manyTalk to you later has earned the respect of manyTalk to you later has earned the respect of many
Re: General property buying question(s)

Quote:
View Post
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?
Reply With Quote
The following 2 users would like to thank Talk to you later for this useful post:
  #75  
Old 03.09.2020, 13:28
Talk to you later's Avatar
Senior Member
 
Join Date: Aug 2020
Location: ZH
Posts: 256
Groaned at 23 Times in 8 Posts
Thanked 300 Times in 132 Posts
Talk to you later has earned the respect of manyTalk to you later has earned the respect of manyTalk to you later has earned the respect of many
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
Reply With Quote
This user would like to thank Talk to you later for this useful post:
  #76  
Old 05.09.2020, 09:32
Talk to you later's Avatar
Senior Member
 
Join Date: Aug 2020
Location: ZH
Posts: 256
Groaned at 23 Times in 8 Posts
Thanked 300 Times in 132 Posts
Talk to you later has earned the respect of manyTalk to you later has earned the respect of manyTalk to you later has earned the respect of many
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
Reply With Quote
The following 2 users would like to thank Talk to you later for this useful post:
  #77  
Old 05.09.2020, 11:23
magic's Avatar
Forum Veteran
 
Join Date: Mar 2008
Location: Geneva
Posts: 1,039
Groaned at 9 Times in 8 Posts
Thanked 568 Times in 272 Posts
magic has a reputation beyond reputemagic has a reputation beyond reputemagic has a reputation beyond reputemagic has a reputation beyond reputemagic has a reputation beyond repute
Re: General property buying question(s)

Quote:
View Post
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.
Reply With Quote
This user would like to thank magic for this useful post:
  #78  
Old 05.09.2020, 20:13
Talk to you later's Avatar
Senior Member
 
Join Date: Aug 2020
Location: ZH
Posts: 256
Groaned at 23 Times in 8 Posts
Thanked 300 Times in 132 Posts
Talk to you later has earned the respect of manyTalk to you later has earned the respect of manyTalk to you later has earned the respect of many
Re: General property buying question(s)

Quote:
View Post
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.
Quote:
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.

Quote:
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.

Quote:
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
Reply With Quote
This user would like to thank Talk to you later for this useful post:
  #79  
Old 05.09.2020, 20:43
smackerjack's Avatar
Forum Veteran
 
Join Date: Jun 2007
Location: U.K/VAUD
Posts: 2,180
Groaned at 14 Times in 7 Posts
Thanked 2,466 Times in 1,058 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: General property buying question(s)

Quote:
View Post

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.
Reply With Quote
The following 3 users would like to thank smackerjack for this useful post:
  #80  
Old 05.09.2020, 23:13
magic's Avatar
Forum Veteran
 
Join Date: Mar 2008
Location: Geneva
Posts: 1,039
Groaned at 9 Times in 8 Posts
Thanked 568 Times in 272 Posts
magic has a reputation beyond reputemagic has a reputation beyond reputemagic has a reputation beyond reputemagic has a reputation beyond reputemagic has a reputation beyond repute
Re: General property buying question(s)

Quote:
View Post
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
Reply With Quote
This user would like to thank magic for this useful post:
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


Similar Threads
Thread Thread Starter Forum Replies Last Post
General pointer for buying second hand car in switzerland shukibuki Transportation/driving 8 21.09.2016 11:24
Question about buying a property/mortgage sylwia Finance/banking/taxation 12 28.08.2016 22:09
General Buying a Car Help! edfollett Transportation/driving 7 26.09.2012 09:18
Buying property - tips on property surveyance Taffy Housing in general 2 19.05.2010 11:05
General Q&A on buying a new car moumita Transportation/driving 37 03.04.2008 08:45


All times are GMT +2. The time now is 20:22.


Powered by vBulletin® Version 3.8.4
Copyright ©2000 - 2020, Jelsoft Enterprises Ltd.
LinkBacks Enabled by vBSEO 3.1.0