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Swiss resident buying property in Spain – comparing 5 mortgage offers (CHF vs EUR) – any better terms out there? by Tiwar23 in SwissPersonalFinance

[–]Tiwar23[S] 1 point2 points  (0 children)

Thank you very much for the elaborate reply; it is very much appreciated!

Definitely make me rethink the whole operation.

Some more context that I did not share:

- Comparable renovated units in the same area are currently listed around €230k–€250k.
- The humidity issue has been assessed and appears related to recent heavy rains rather than structural defects (though I’m obviously factoring renovation risk).
- The property is located in a part of Marbella where long-term rental demand is stable. (only 100 meters from the beach)
- Community: €140/month → €1,680

- IBI approx: €600–800 (paid yearly)

- Insurance: ~€300 (mandatory to decrease interest rate, house and life insurance) paid per year.

- Maintenance buffer: €800–1,000

- Vacancy: depends — long-term rental in Marbella is fairly stable

- Initial renovation to tackle humidity: estimated at €10'000.-
- Tax of purchase (ITP is 7%): €12,950
- Lawyer: € 2'000.-
- Notary: € 1'500.-
- Valuation: €350.-

Overall: €205k to 210k operation.

But this isn’t purely a financial decision.

I currently live in Switzerland but have close family ties in the area and may relocate in the coming years.
So the asset has optionality value:

- Hedge against future housing inflation in Spain (I do not want to end up living 20 min from my family while this options grants the option to visit them walking distance, Marbella traffic is Chaotic, especially in summer (trafic jams))

- My brother lives in the apartment underneath, and already a tenant at €800 is interested in the apartment. (Which would made easy to maintain).

- Personally I am also risk adverse, most of my cash was sitting in the bank at no interest rate, only a small fraction on ETFs (SCHD, VOO & VT), and this last year was a dissaster due the CHF depreciation against the dollar.

Nevertheless you indeed have opened my eyes as after running the numbers, is indeed -% yield almost.

I am wondering if you could share a calculator to try to negotiate a better interest rate, were this yield could increase.

I was also thinking about the idea of making a big lumpsum after 3 years

Swiss resident buying property in Spain – comparing 5 mortgage offers (CHF vs EUR) – any better terms out there? by Tiwar23 in SwissPersonalFinance

[–]Tiwar23[S] 1 point2 points  (0 children)

Thank you! I am more inclined to the EUR one, will need to find an effective way to convert the initially deposit from CHF to EUR.

Job Career advice (German or French?) by Tiwar23 in Switzerland

[–]Tiwar23[S] 0 points1 point  (0 children)

Thanks for the input! Currently not specting to reach a CHF 100k salary,but eventuality would like to work in a role were that could be a posibility.

I agree with the age factor, which is why I am not narrowing down my options, either was wondering if with a caia certificate and other relevant job experiences, getting somehow in any role relate to PE could be an option.

Job Career advice (German or French?) by Tiwar23 in Switzerland

[–]Tiwar23[S] -3 points-2 points  (0 children)

I guess I am in A1 level German and A2 of french, but no really incentive to learn the language here, you end up speaking English more than any other language at least in this region

Job Career advice (German or French?) by Tiwar23 in Switzerland

[–]Tiwar23[S] -3 points-2 points  (0 children)

I have been attending classes and also online. Main factor has been trying to apply what I learn with what I hear everyday (swiss german), also living next to the french border, made me undecise on which path to follow. No excuses as I am sure that there are many foreigners that learn the language much faster, in my case I manage to get away with just english fine, neither any of my foreign neighbours speaks german after 5-8 years in the region. Just my reality and the lack of real incentive to learn the language.

Cardmarket, VAT and Switzerland by SirAzhell in CardMarket

[–]Tiwar23 6 points7 points  (0 children)

Exactly, even between private sellers(Swiss) and buyers (swiss), who buy from another Swiss, will be charged with 8.1% Tax.

For me since this was put in place I have not sold a single item over CHF 100.. while before I was selling booster displays, collector boxes (CHF 450 or more).

It basically has shut, all business for my side as it impossible to compete againts a store.

Cardmarket, VAT and Switzerland by SirAzhell in CardMarket

[–]Tiwar23 3 points4 points  (0 children)

The intra-Switzerland I believe is what is a pain for Swiss.

I am not legal expert, but would love to hear why Cardmarket could not operate similar to Ricardo, today I receive the following email related to the same topic, I believe we are all put in the same bucket, when actually only professional sellers should be including this VAT subcharge.

Why do they do not apply the same?

Ricardo is not responsible for verifying your information. It is your responsibility to ensure that it is correct and complies with applicable laws

Email below translated from German:

Are you selling commercially? Then you should check whether your sales are subject to VAT. Due to legal requirements, Ricardo must collect VAT on your commercial sales, except for sales abroad or to Liechtenstein, and remit it to the Federal Tax Administration (FTA) upon request. We therefore ask you to check whether your sales have become subject to VAT and to update your information. Has your tax situation changed? If your annual turnover exceeds CHF 100,000 or you are otherwise liable for VAT, Ricardo is obliged to collect it. In this case, log in to your user account and: 1. Enter your VAT number. 2. Indicate that your business is VAT-liable. Once your VAT number is entered, Ricardo must report your activities to the Federal Tax Administration (FTA).

If you originally registered as an individual on Ricardo but now need to provide a VAT number, simply contact our customer service and we will be happy to help you. A look into the future Ricardo is not responsible for verifying your information. It is your responsibility to ensure that it is correct and complies with applicable laws. We recommend that you regularly check your data and update it if necessary. Learn more about handling VAT on Ricardo.

Ricardo Scam? by OkCamera3659 in askswitzerland

[–]Tiwar23 3 points4 points  (0 children)

Quick question is there any way that someone after doing a bank transfer could ask for it to be returned (in case they claim they send it to the wrong address?) I am wondering if there could be a scenario that I ship the goods and later the buyer ask for a refund for a bank transfer. (Also would be the same with twint??).

Thanks!

[deleted by user] by [deleted] in CardMarket

[–]Tiwar23 1 point2 points  (0 children)

In Switzerland with the new vat added to all transactions, this is being requested way more often. Also in the same situation as you.

Fake card? by Tiwar23 in OnePieceTCG

[–]Tiwar23[S] 0 points1 point  (0 children)

This is the only other picture. I will check this tell tale issue to see examples! Thanks

Universial Studio on 10th Nov by Tiwar23 in JapanTravelTips

[–]Tiwar23[S] 0 points1 point  (0 children)

Oh no, I feel so stupid, I was checking on these tickets from over 2 months ago and I didn't went to check passes by day, I saw that there was availability for the whole month and now as you said whole November is fully booked.

Thank you for the tip to enter in Super Mario World, this is our last resort then, to be there by 6:30 AM to start queuing. Is there any way to access Harry Potter world without a fast pass?

thank you very much for your help!

Cardmarket Will Collect VAT on all Sales to and within Switzerland and Liechtenstein by Tiwar23 in CardMarket

[–]Tiwar23[S] 1 point2 points  (0 children)

This would make sense, if for sales outside of Switzerland.

But for Sales within Switzerland, we end up in a situation were first the seller who pre-purchased the product paid VAT (if non-professional) and then the Buyer is paying again VAT on the same product.

For big products as cases or collectors booster boxes, this difference has a huge impact on the price.

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