Go Back   English Forum Switzerland > Help & tips > Housing in general  
Reply
 
Thread Tools Display Modes
  #61  
Old 27.08.2009, 07:51
jaudi's Avatar
Forum Veteran
 
Join Date: Sep 2007
Location: zurich
Posts: 556
Groaned at 4 Times in 4 Posts
Thanked 486 Times in 224 Posts
jaudi has a reputation beyond reputejaudi has a reputation beyond reputejaudi has a reputation beyond reputejaudi has a reputation beyond repute
Re: Buying a house in swizerland

Quote:
View Post
Isn't that exactly what I wrote?? In fact I gave more accurate info:
Nice first post btw...
I believe you actually defer the tax by transferring the gain to the new property, not avoid it.
Reply With Quote
  #62  
Old 27.08.2009, 08:18
AbFab's Avatar
Forum Legend
 
Join Date: Sep 2006
Location: Zürich
Posts: 8,240
Groaned at 347 Times in 237 Posts
Thanked 12,017 Times in 4,126 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: Buying a house in swizerland

Quote:
View Post
I believe you actually defer the tax by transferring the gain to the new property, not avoid it.
Yes. In that if you move a second time within a specified number of years, I think 3 without looking it up, you will still be liable for some or all of the capital gain on the first property. Plus any on the second purchase...
Reply With Quote
  #63  
Old 27.08.2009, 08:38
NotAllThere's Avatar
Forum Legend
 
Join Date: Oct 2008
Location: Baselland
Posts: 13,265
Groaned at 216 Times in 191 Posts
Thanked 19,345 Times in 7,875 Posts
NotAllThere has a reputation beyond reputeNotAllThere has a reputation beyond reputeNotAllThere has a reputation beyond reputeNotAllThere has a reputation beyond reputeNotAllThere has a reputation beyond reputeNotAllThere has a reputation beyond repute
Re: Buying a house in swizerland

Quote:
View Post
Our experience has been that houses that are priced sensibly sell fairly quickly. There is a lot of junk on the market that is overpriced with owners that think they are trying to sell the Taj Mahal....
Three years ago, when we were looking for a house to buy, there was a property with a beautiful garden, for 995'000. It had been reduced from 1'200'000. No-one bought it. So they dug up the garden, put a lawn down and remarketed it at - 1'200'000. It's still not sold.
Reply With Quote
  #64  
Old 27.08.2009, 08:42
PaddyG's Avatar
Forum Legend
 
Join Date: Aug 2007
Location: Pensier, Fribourg
Posts: 9,243
Groaned at 118 Times in 102 Posts
Thanked 16,857 Times in 5,912 Posts
PaddyG has a reputation beyond reputePaddyG has a reputation beyond reputePaddyG has a reputation beyond reputePaddyG has a reputation beyond reputePaddyG has a reputation beyond reputePaddyG has a reputation beyond repute
Re: Buying a house in swizerland

We will be moving into our new appt next month, and have been quoted between 4% and 5% transaction costs. I think Fribourg is relatively cheap, so it should be nearer 4% (I hope).
Most of the 20% came from our pensions and we will top up the rest from our savings. All went pretty smoothly actually.
Reply With Quote
  #65  
Old 01.09.2009, 09:57
Guest
 
Posts: n/a
Re: Buying a house in swizerland

sorry for barging in on this thread but I can't find out whether it is normal to do a building inspection - we have made an offer on a property that has been accepted but prior to signing anything we have asked to see the builders and confirm the mortgage- now I am worried we will be caught up in some hellish Swiss legal entanglement.....any ideas?
Reply With Quote
  #66  
Old 01.09.2009, 10:04
Blonaybear's Avatar
Forum Veteran
 
Join Date: May 2007
Location: Blonay
Posts: 1,595
Groaned at 4 Times in 4 Posts
Thanked 836 Times in 432 Posts
Blonaybear has a reputation beyond reputeBlonaybear has a reputation beyond reputeBlonaybear has a reputation beyond reputeBlonaybear has a reputation beyond repute
Re: Buying a house in swizerland

I would certainly recommend that you have an inspection done before purchasing otherwise you could be in for a nasty shock.
Reply With Quote
  #67  
Old 01.09.2009, 11:55
Guest
 
Posts: n/a
Re: Buying a house in swizerland

Thanks Blonaybear - can you recommend anyone in the Basel area who does this?
Reply With Quote
  #68  
Old 01.09.2009, 18:31
Blonaybear's Avatar
Forum Veteran
 
Join Date: May 2007
Location: Blonay
Posts: 1,595
Groaned at 4 Times in 4 Posts
Thanked 836 Times in 432 Posts
Blonaybear has a reputation beyond reputeBlonaybear has a reputation beyond reputeBlonaybear has a reputation beyond reputeBlonaybear has a reputation beyond repute
Re: Buying a house in swizerland

Quote:
View Post
Thanks Blonaybear - can you recommend anyone in the Basel area who does this?
Sorry but don't know anyone in that area. If you're dealing through a bank for a mortgage they may be able to suggest someone.
Reply With Quote
  #69  
Old 02.09.2009, 12:19
Geminder's Avatar
Member
 
Join Date: Jan 2009
Location: The Dark Side
Posts: 216
Groaned at 10 Times in 7 Posts
Thanked 101 Times in 58 Posts
Geminder has annoyed a few people around hereGeminder has annoyed a few people around hereGeminder has annoyed a few people around here
Re: Buying a house in swizerland

Extensive information about the state of the property market can be found here

https://marketdataresearch.credit-su...cationType=598
Reply With Quote
  #70  
Old 10.09.2009, 20:37
dawiz's Avatar
Forum Legend
 
Join Date: Dec 2006
Location: Ostschweiz
Posts: 4,112
Groaned at 96 Times in 46 Posts
Thanked 2,050 Times in 1,191 Posts
dawiz has a reputation beyond reputedawiz has a reputation beyond reputedawiz has a reputation beyond reputedawiz has a reputation beyond reputedawiz has a reputation beyond repute
Re: Buying a house in swizerland

Quote:
View Post
You need about 20% down, unless you are Swiss
What's that supposed to mean? If you're Swiss, you still need 20% down - unless you already own the land you're intending to build on.
Reply With Quote
  #71  
Old 13.09.2009, 15:19
Newbie
 
Join Date: Sep 2009
Location: Grindelwald
Posts: 6
Groaned at 14 Times in 2 Posts
Thanked 12 Times in 5 Posts
Radiosutch has become a little unpopular
Re: Buying a house in swizerland

Hi
I'm thinking of making an offer for an apartment in Grindelwald. I am planning on a builder look it over despite the estate agent saying most people don't bother. However, I have nothing really to base the value on. I know property can be expensive compared to the UK but have no comparitives. Can't see a similar property on the net for sale. And how much would people start off on the offer 10% off, 15% off? I don't want the agents to laugh at me but obviously I don't want to pay more than I should. I am going to see the banker next week so maybe he can advise but I thought I would ask here.
Reply With Quote
  #72  
Old 16.09.2009, 10:35
Forum Veteran
 
Join Date: Oct 2007
Location: Ticino & London
Posts: 2,013
Groaned at 171 Times in 92 Posts
Thanked 1,139 Times in 628 Posts
Cashboy has a reputation beyond reputeCashboy has a reputation beyond reputeCashboy has a reputation beyond reputeCashboy has a reputation beyond repute
Re: Buying a house in swizerland

Quote:
View Post
Hi
I'm thinking of making an offer for an apartment in Grindelwald. I am planning on a builder look it over despite the estate agent saying most people don't bother. However, I have nothing really to base the value on. I know property can be expensive compared to the UK but have no comparitives. Can't see a similar property on the net for sale. And how much would people start off on the offer 10% off, 15% off? I don't want the agents to laugh at me but obviously I don't want to pay more than I should. I am going to see the banker next week so maybe he can advise but I thought I would ask here.
I wouldn't give a hoot about the estate agent laughing at you because he thinks you made a silly offer. You can always increase the offer but if they accepted straight away, you would think to your self, I wonder how low they would have gone.
Reply With Quote
  #73  
Old 09.10.2009, 16:07
kirstyjayne's Avatar
Member
 
Join Date: Jun 2008
Location: Basel
Posts: 120
Groaned at 0 Times in 0 Posts
Thanked 43 Times in 26 Posts
kirstyjayne has earned some respectkirstyjayne has earned some respect
Re: Buying a house in swizerland

Quote:
View Post
No and no. 10% cash. The other 10% can come from pension. ( either by taking it out early or putting it as security ).
10% from pension : does this have to be a Swiss, or even an EU pension? Would US count??

Also - how exactly do you put it as a security? I wouldn't want to take out early as you get charge a huge amount for doing so. Can someone explain that process?
Reply With Quote
  #74  
Old 09.10.2009, 16:23
Guest
 
Posts: n/a
Re: Buying a house in swizerland

Quote:
View Post
10% from pension : does this have to be a Swiss, or even an EU pension? Would US count??

Also - how exactly do you put it as a security? I wouldn't want to take out early as you get charge a huge amount for doing so. Can someone explain that process?
Fine, whatever, partly cash, partly pension fund, but if you sell you first pay off whatever you took from the pension fund, with interest. The banks will arrange with your pension fund, you have to have a certain amount in there to start with.

They may accept EU or US but it would have to be pledged in favour of the bank and they may request it is Swiss Frank linked

One of the more salient points to remember maybe that you can only spend it once, so if you use your pension fund to buy a house, you may have to find an alternative source for your pension. A lot depends on age and situation i guess.
Reply With Quote
  #75  
Old 09.03.2010, 09:48
Member
 
Join Date: Jun 2008
Location: Commugny Canton Vaud
Posts: 213
Groaned at 3 Times in 2 Posts
Thanked 119 Times in 69 Posts
mrshunkydorey is considered knowledgeablemrshunkydorey is considered knowledgeablemrshunkydorey is considered knowledgeable
Re: Buying a house in swizerland

Quote:
View Post
If you like i can send you a complete guide on how to buy a house just pm me your address and i will pop it in the post on Monday, but be warned it is a long read
Hi Sutter,

I hope you do not mind me contacting you but I was wondering if you still have your guide to buying a house in CH? If so I would be extremely grateful of a copy.

I hope to hear from you soon

Many thanks

mrshunkydorey
Reply With Quote
  #76  
Old 09.03.2010, 15:47
Donjamesayer's Avatar
Newbie 1st class
 
Join Date: Mar 2010
Location: St.Gallen
Posts: 19
Groaned at 1 Time in 1 Post
Thanked 3 Times in 2 Posts
Donjamesayer has no particular reputation at present
Re: Buying a house in swizerland

Wow, you have the chance to spend up to a mil on a house and you don't know what the process is yet? Hey, I have a bridge for sale with your name on it! Or would you like to buy some land in south america? Cheap cheap?
Are you serious? Ever hear of a lawyer? Fools and their money soon part.
Reply With Quote
  #77  
Old 10.03.2010, 21:30
Ella's Avatar
Member
 
Join Date: Sep 2006
Location: lausannne,
Posts: 115
Groaned at 12 Times in 3 Posts
Thanked 19 Times in 15 Posts
Ella has no particular reputation at present
Re: Buying a house in swizerland

Quote:
View Post
And remember, your house here that you buy will never actually be yours. (you're just paying off the interest on it)
Today i went to CS and the bank told me that if i choose a fixed rate planning I will NOT be allowed to amortize my mortgage during the underline period, this is insane!! Is it true with all you home owners?
Reply With Quote
  #78  
Old 10.03.2010, 22:57
Forum Legend
 
Join Date: Feb 2008
Location: Zurich
Posts: 3,471
Groaned at 17 Times in 15 Posts
Thanked 1,996 Times in 1,189 Posts
CH_Me has a reputation beyond reputeCH_Me has a reputation beyond reputeCH_Me has a reputation beyond reputeCH_Me has a reputation beyond repute
Re: Buying a house in swizerland

Quote:
View Post
Today i went to CS and the bank told me that if i choose a fixed rate planning I will NOT be allowed to amortize my mortgage during the underline period, this is insane!! Is it true with all you home owners?
I would expect this to be a condition. You make a fixed rate agreement for x number of years and they lose money if you repay it early. The same conditions exist in other places i've had mortgages in (Australia & UK).
Reply With Quote
  #79  
Old 10.03.2010, 23:33
AbFab's Avatar
Forum Legend
 
Join Date: Sep 2006
Location: Zürich
Posts: 8,240
Groaned at 347 Times in 237 Posts
Thanked 12,017 Times in 4,126 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: Buying a house in swizerland

Quote:
View Post
Today i went to CS and the bank told me that if i choose a fixed rate planning I will NOT be allowed to amortize my mortgage during the underline period, this is insane!! Is it true with all you home owners?
In Switzerland there are usually two mortgages, depending on how much of your own money you put in. So 20% own money, 20% amortising mortgage, 60% never-pay-off mortgage. With long term low interest rates undewr 3%, why would you want to amortise the 60% - after all tenants pay rent all their lives, and mortgage interest is tax deductible.

When your fixed term mortgage comes up for renewal you can pay it off in one go, rather than with each payment. This may well be the way to go in a few years here if Eigenmeitwert is stopped along with mortgage interest relief...
__________________


************************************
Fed up of smoking? 10 tips to quit in 10 days
Reply With Quote
The following 2 users would like to thank AbFab for this useful post:
  #80  
Old 10.03.2010, 23:43
Castro's Avatar
à la mod
 
Join Date: Nov 2007
Location: ZG
Posts: 5,586
Groaned at 117 Times in 95 Posts
Thanked 16,660 Times in 5,304 Posts
Castro has a reputation beyond reputeCastro has a reputation beyond reputeCastro has a reputation beyond reputeCastro has a reputation beyond reputeCastro has a reputation beyond reputeCastro has a reputation beyond repute
Re: Buying a house in swizerland

Hey all,
Can anyone advise on the issue of ground rent? I went to see a property today in Binningen and as the estate agent was going through the break down of fees it included about 450/month Nebenkosten and an additional 490/month for something which sounded like ground rent the lady's English wasn't great but she explained that the land the building was on belonged to someone else and therefore every apartment had to pay monthly rent. It sounds like a leashold type situation.. is this right?
Ta muchly
Reply With Quote
Reply

Tags
house buying, property taxes




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
House buying Pedigreeman Housing in general 28 07.12.2010 15:28
Non EU B Permit Buying a House? barish Housing in general 9 31.07.2009 14:04
Buying house - need advice on valuation witit Housing in general 12 28.04.2009 23:52
house buying that goes wrong :( patrious45 Housing in general 28 11.09.2008 14:56
Experience in buying a house Craig Housing in general 4 14.01.2007 14:50


All times are GMT +2. The time now is 16:26.


Powered by vBulletin® Version 3.8.4
Copyright ©2000 - 2021, Jelsoft Enterprises Ltd.
LinkBacks Enabled by vBSEO 3.1.0