Intrest and rent
Intrest and rent
Does anyone know can I write-off interest paid on housing loan if I rent out this house?
Re: Intrest and rent
your interest is tax deductible upto 3400 Euros per year ( 28 %capital gains outta 5000). If you "rent" that house, you will be "earning" Euros on that rent and so is taxable along with your earned income.shrecher wrote:Does anyone know can I write-off interest paid on housing loan if I rent out this house?
Re: Intrest and rent
yep, I know it, 28% tax on capital gained income.raamv wrote:If you "rent" that house, you will be "earning" Euros on that rent and so is taxable along with your earned income.
but will vero.fi count my taxable earnings as: rent - interest?
"rent" is something what I get from tenant and "interest" is paid to bank for mortgage of the rented house.
Re: Intrest and rent
The Rent that you get is calculated as capital income and so yes!!shrecher wrote:yep, I know it, 28% tax on capital gained income.raamv wrote:If you "rent" that house, you will be "earning" Euros on that rent and so is taxable along with your earned income.
but will vero.fi count my taxable earnings as: rent - interest?
"rent" is something what I get from tenant and "interest" is paid to bank for mortgage of the rented house.
This is added to the Normal income to calculate your tax which you pay asap and your refund gets postponed by a year!!
Re: Intrest and rent
The tax you'll pay is 28% of (rent - interest on all loans - yhtiövastike on the rented propery - other costs for renting)shrecher wrote:Does anyone know can I write-off interest paid on housing loan if I rent out this house?
The 3400 Euros that Raamv writes about is really only 1400 Euros (+400 Euros/child) and only applies to loans for the home that you live in.
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http://blog.enogastronomist.com | http://blog.enogastronomisti.comRe: Intrest and rent
Spot on...Cyrstal clear and perfectly correctMook wrote:The tax you'll pay is 28% of (rent - interest on all loans - yhtiövastike on the rented propery - other costs for renting)shrecher wrote:Does anyone know can I write-off interest paid on housing loan if I rent out this house?
The 3400 Euros that Raamv writes about is really only 1400 Euros (+400 Euros/child) and only applies to loans for the home that you live in.
So, now you have to buy, say, an yksiö in kallio for maybe 120 000 Euros.
Rent:
- 550 / month
- Yhtiövastike migth be 100 Euros/month
So, 450 Euros/month might pay for a loan of 100 000 Euros.
And we don't worry about housing bubbles since all banks let you arrange loans with fixed monthly payments - as interest rates go up, the repayment time grows.
Also, I heard about one bank offereing 50 year loans for people doing the buy-to-let thingy...
Rent:
- 550 / month
- Yhtiövastike migth be 100 Euros/month
So, 450 Euros/month might pay for a loan of 100 000 Euros.
And we don't worry about housing bubbles since all banks let you arrange loans with fixed monthly payments - as interest rates go up, the repayment time grows.
Also, I heard about one bank offereing 50 year loans for people doing the buy-to-let thingy...
Last edited by Mook on Mon Nov 26, 2007 3:55 pm, edited 1 time in total.
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http://blog.enogastronomist.com | http://blog.enogastronomisti.comYah thats correct...I had been following the property prices for a while before i decided to buy one for ourselves...I managed to get 10k off on the house I purchased...could have got a little more but the agent was adamant and my wife liked it a lot...penelope wrote:And don't be scared to negotiate the price.... if the apartment has been on the market for a while put in an offer UNDER the asking price. A lot of properties are over-priced initially and sit on the estate agents' books for months.
Within a period of 2 months that i had been searching for a house,i noticed the prices falling by atleast 10% from the initial price...
And the FINAL selling price of a property is not published on oikotie.fi (or anywhere else as far as I know) so no one knows (except the estate agent) how much the price was pushed down before it was sold. One of our neighbours had their house on the market for over 6 months - the price hardly moved at all on oikotie.fi - before they sold it, but I have no idea how much it finally went for.
It would be nice to see some stats : initial asking price / transaction price
OTOH some agents like Igglo prefer to put properties on the market at a rock-bottom price and sell quickly.
It would be nice to see some stats : initial asking price / transaction price
OTOH some agents like Igglo prefer to put properties on the market at a rock-bottom price and sell quickly.
> OTOH some agents like Igglo prefer to put properties on the market at a rock-bottom price and sell quickly.
Have you read Freakonomics? One section in the book analyses house price data to prove that agents under-price most homes compared with how they price their own homes. Not Finnish info of course, but I see no reason why Finnish agents should act any differently.
Have you read Freakonomics? One section in the book analyses house price data to prove that agents under-price most homes compared with how they price their own homes. Not Finnish info of course, but I see no reason why Finnish agents should act any differently.
You can check the final selling price at http://asuntojen.hintatiedot.fi/hakupenelope wrote:And the FINAL selling price of a property is not published on oikotie.fi (or anywhere else as far as I know) so no one knows (except the estate agent) how much the price was pushed down before it was sold. One of our neighbours had their house on the market for over 6 months - the price hardly moved at all on oikotie.fi - before they sold it, but I have no idea how much it finally went for.
It would be nice to see some stats : initial asking price / transaction price.
...Its a little vague though as it doesn't say anything about the date of transaction....