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Old 07.12.2008, 19:33
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Buying a house in Germany and working in Basel what's the catch?

We have been living in Basel for 6 years. Now we have a little girl we want to buy a house.
Originally we where only looking in Basel-Land with the budget that the bank advised us on (800k CHF) but now we have seen a very nice house in Germany for the same price.

So my questions:
  • Tax - Working in Basel and living in Germany what will I pay (roughly more less or the same)?
  • Can I continue to pay my Swiss taxes (1,2,3 pillars) + insurance and use the system i.e. hospitals etc but live in DE?
  • Can I use some of my pension to pay the deposit?
  • Can I take the mortgage out with a Swiss bank
My fear is that now my wife and I are all excited about our dream house the fact is we wont be able to afford it even though it is within our Swiss property budget due to having to get a German mortgage with a higher interest rate, not being able to deduct interest payments form earnings, higher taxes etc..

I know I need to talk to the bank and my tax advisor etc but I thought there may be some helpful hints here.

Thanks
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Old 07.12.2008, 19:58
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Re: Buying a house in Germany and working in Basel what's the catch?

Forgot to mention my wife and daughter have Swiss citizenship and I Have a C permit.
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Old 07.01.2009, 13:47
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Re: Buying a house in Germany and working in Basel what's the catch?

Perhaps It was something I said.
Maybe I will try expats.com as they mail me every week to say "we miss you"
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Old 07.01.2009, 13:57
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Re: Buying a house in Germany and working in Basel what's the catch?

Considering this forum is for people living in Switzerland I doubt many people would know the answers to your questions.

We tried to get a mortgage here for foreign property and the few banks we tried wouldn't lend for property outside of Switzerland. Perhaps a German lender has mortgages tracking the Swiss Libor. UK banks do.
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Old 07.01.2009, 14:08
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Re: Buying a house in Germany and working in Basel what's the catch?

I don't know anything about buying a place to live in Germany (we rent), but I can answer some questions:

Tax - Working in Basel and living in Germany what will I pay (roughly more less or the same)?

The end effect is that you will pay tax as if you work in Germany, which is more than in Switzerland.

Can I continue to pay my Swiss taxes (1,2,3 pillars) + insurance and use the system i.e. hospitals etc but live in DE?

Yes and no. You will 5% Quellensteuer plus social security payments (AHV, etc). You can continue to have Swiss health insurance but then you will have to pay the highest premiums (lowest franchise) available. In the end, it would make sense to get German health insurance. If your salary is high enough, I would strongly recommend private cover. With German health insurance you can use Swiss hospitals, but only in an emergency. For simple visits to the GP you would have to do it in Germany

Can I use some of my pension to pay the deposit?
Can I take the mortgage out with a Swiss bank?

Can't help you with these two. Sorry.

Forgot to mention my wife and daughter have Swiss citizenship and I Have a C permit.

If you move across the border, you will probably then get a G (Grenzgänger: border commuter) permit.
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Old 19.01.2009, 22:38
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Re: Buying a house in Germany and working in Basel what's the catch?

I can possibly answer 1 of your questions

Can I use some of my pension to pay the deposit?

I have just set up a bank account here in Switzerland and according to the bank rep (and product literature) money from the 3 pillar account may be taken out to be used towards the purchase of a property.

Best of luck with your house purchase.
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