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QUESTIONS AND ANSWERS
MORTGAGES
How much your new home may cost depends on what income and own funds you have. We can help you calculate the maximum purchase price for your new dream home.Contact us free of charge and without obligation
To finance the purchase price, you can contribute your savings from account and deposit assets including free employee shares, your 3rd pillar monies, your pension fund and/or vested benefits assets, advance inheritance payments, gifts, interest-free and non-repayable loans and, in the case of a new building or renovation, also your own contributions in the form of working hours.Certain banks even accept the pledging of your 2nd and/or 3rd pillar insurance so that these assets can continue to grow with the compound interest effect. You can deduct the higher mortgage interest for tax purposes. We will help you find the optimal mortgage amount for you.Contact us free of charge and without obligation
Choosing the right mortgage for you is very important so that you can enjoy your home ownership in the long term. The cheapest option does not have to be the best one for you. When choosing a mortgage, you should take into account your willingness to take risks, your financial leeway, your interest in the financial markets, but also the current interest rate level and the interest rate trend. We will help you find the mortgage that is best for you.Contact us free of charge and without obligation
Amortization means that you pay back part of your mortgage regularly over a predefined period of time. We distinguish between direct and indirect amortization. With direct amortization, you reduce your mortgage amount on an ongoing basis, usually quarterly. This means you have a lower interest burden each year, but fewer tax deductions, as the deductible mortgage interest is lower.With indirect amortization, you do not repay the mortgage directly as described above, but via a 3rd pillar bank or insurance solution. This means that the mortgage remains the same over a certain period of time and you can therefore deduct the full mortgage interest from your taxable income. And the best thing is that you can fully deduct the amortization amount via 3rd pillar in your tax return. You can even combine your family's coverage with the insurance solution. We will help you choose the right amortization solution. Contact us free of charge and without obligation
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It is often difficult enough to find a suitable property that meets most of your needs. It is essential to know your purchase budget so that financing is feasible once you have found the right property.Moving to another town or even canton also brings changes in the school system, commuting, taxes, etc.In addition, do not forget the notary and land registry costs as well as withdrawal taxes in the case of an early withdrawal of pension assets. You should also budget for moving costs, house renovations, and the purchase of new furniture and curtains, etc. We will be happy to help you with this.Contact us free of charge and without obligation
We recommend that you find out about the running costs before you buy your property. In condominiums in particular, the ancillary costs can be higher due to an elevator, an underground garage, a swimming pool or the management of the surrounding area. Properties in building lease also have additional costs with the building lease interest to be paid.As a rule, banks calculate maintenance and ancillary costs of 1% of the property value for properties that are more than 10 years old. For newer properties younger than 10 years, the renewal costs are not that high and most banks calculate with 0.70% of the property value. This in turn has a positive influence on the banks' affordability calculations. Service charges include the costs for water, heating, electricity, garbage disposal or house maintenance.Maintenance costs are expenses for the upkeep of your property such as minor repairs, upkeep of the surroundings, etc.Contact us free of charge and without obligation
These costs vary greatly from canton to canton.In certain cantons, the property transfer tax is incurred, but this is usually waived if the purchased property becomes your primary residence. In addition, the land registry and notary fees must be taken into account. You pay these fees for the purchase contract when acquiring the property, which must be publicly notarized, as well as for the entry in the country registry. In addition, there are also fees for the promissory note, which serves as collateral for the bank.We will be happy to help you with the calculation of these costs.Contact us free of charge and without obligation
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Similar to the purchase of real estate, various costs and taxes are incurred during the sale of real estate: For example, for the notary, the change of ownership, the entry in the land registry and often for the new promissory note. The costs for the promissory note are borne by the buyer and the remaining notary costs are usually shared by the buyer and seller. The real estate gains tax is paid by the seller. We will be happy to provide you with further details on any ancillary sales costs in connection with the sale of real estate.Contact us free of charge and without obligation
From a legal standpoint, the costs of the real estate agent will be paid by the seller, as he is in the contractual relationship. The real estate agent works on behalf of the seller and must sell the property in all conscience at the best price.Contact us free of charge and without obligation
The capital gains tax on real estate is a special tax levied when an individual sells a property from their private assets. Real estate agent commissions, notary fees, and any value-enhancing investments can be claimed as tax deductions and subtracted from the capital gains tax. The amount of capital gains tax depends on various factors, such as the length of ownership, and varies from canton to canton. We would be happy to advise you personally on your situation and calculate the capital gains tax you can expect to pay.Contact us free of charge and without obligation
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If you move to another canton, you always pay taxes where you live on December 31. The cut-off date is decisive here. If you have lived in the canton of Baselland and in the low-tax municipality of Binningen for ten months and move to the possibly more expensive canton of Basel-Stadt in November, you must pay the taxes to the canton of Basel-Stadt for the entire twelve months - not just for two months. If you wait until January you will save a lot of money. However, this also applies in the opposite case: If you live in a high-tax canton for ten months and move to a low-tax canton in November, you will get off cheaply - even though you have only lived in the new place for eight weeks.Contact us free of charge and without obligation
The deadline for submitting the tax return can usually be extended free of charge. Depending on the canton, the extension of the deadline can be requested free of charge between 2 and 6 months after the regular submission date. For a further extension of the deadline or for a second extension request, fees are usually charged. As a rule, an extension of the deadline beyond the year of submission will only be granted if there are good reasons. We will be happy to advise you individually on your deadline extension options in your tax canton.Contact us free of charge and without obligation
You must declare the vacation home in Spain in your tax return. The value and the income have a rate-determining effect. This means that the tax value of the property influences the amount of the tax rate for the property tax and the income (rental income or imputed rental value minus allowable maintenance costs and mortgage interest) influences the amount of the tax rate for the corresponding income tax. We would be happy to show you the individual tax implications in detail.Contact us free of charge and without obligation
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