23 lines
2.1 KiB
Markdown
23 lines
2.1 KiB
Markdown
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# Q&A / Analysis — 2a. First Home in Basel: Costs
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**Buying as an owner-occupied first home is where this makes most sense.** Basel-Stadt specifics that help a first-time owner-occupier:
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- **Transfer tax (Handänderungssteuer):** normally 3%, but **self-occupied residential property is exempt on the first CHF 800'000** → for a CHF 625'000 first home the transfer tax is effectively **~CHF 0**. Only notary + land-registry fees remain (≈ CHF 1'000–2'000 to the buyer; per the dossier these are usually split 50/50).
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- **Financing:** min. 20% equity = **CHF 125'000** (at least 10% "hard" equity, i.e. not from pillar-2 pension; pillar 3a and a WEF pension withdrawal may cover part). Mortgage 80% = **CHF 500'000**, of which the tranche above 65% (CHF 93'750) must be amortized to 65% within 15 years (**≈ CHF 6'250/yr**).
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- **Affordability rule:** banks test at a 5% imputed rate + 1% upkeep; imputed cost must be ≤ ~33% of gross income → you need roughly **CHF 110'000+ household income** to qualify.
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### Estimated annual cost of ownership (base case)
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| Item | ~CHF / yr | Note |
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|------|----------:|------|
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| Mortgage interest (500k @ ~1.7%) | 8'500 | real cash cost |
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| STWEG owner costs (operating part) | 4'700 | of the 7'416; excl. fund |
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| Own interior upkeep | ~2'000 | higher until modernized |
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| **Subtotal cash "cost of living here"** | **~15'200** | before taxes |
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| Amortization (builds your equity) | 6'250 | forced savings, not lost |
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| Renewal-fund contribution | 2'700 | builds building's reserves |
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A comparable 3.5-room flat in this district rents for roughly **CHF 2'000–2'400/month (≈ CHF 24'000–29'000/yr)**. So owner-occupation is **cash-flow favourable vs renting** by ~CHF 9'000–14'000/yr, on top of building equity. **Budget separately for interior modernization (kitchen/bath/finishes): ≈ CHF 60'000–100'000.**
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_Tax note: the imputed-rental-value (Eigenmietwert) tax — and the offsetting mortgage-interest/maintenance deductions — are being abolished (national vote Sept 2025, expected effective ~2027/28). Net effect depends on your interest and deductions; broadly neutral-to-helpful for a low-mortgage owner-occupier._
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