Practical case Fuerteventura: Bungalow in Caleta de Fuste – Low-barrier living for retirement
The buyer had worked for many years as a chief physician; his wife was a pharmacist. Both had regular income and solid assets from property and capital investments.
In short
What was this case about?
The buyer had worked for many years as a chief physician; his wife was a pharmacist. Both had regular income and solid assets from property and capital investments.
Why was a bungalow chosen?
A single-storey living concept makes everyday life easier and often offers more comfort in the long term.
Are barrier-free conversions worthwhile already at the time of purchase?
Yes. If necessary adaptations are carried out directly after purchase, later building sites and additional financing needs can be avoided.
Who arranged this?
Perini Finance & Property — German-speaking, operating under the §34i GewO licence held by Olga Nikushkina, Portugal through a locally licensed intermediary; 15 to 20 banks approached per case. First call free; on completion 1 % of the loan amount.
Bungalow €815,000, loan €570,500, equity €434,450
- Purchase price: 815.000 €
- Financing required: 570.500 €
- Equity: 434.450 €
Anonymised case figure · not a binding statement for other projects · §34i GewO
Property for sale in Caleta de Fuste: the right property for the coming decades
A couple from Münster had deliberately decided against a large villa. With the upcoming retirement in mind, the focus was not on the size of the property but on comfort, low maintenance costs and a home concept with as few barriers as possible.
After several stays on Fuerteventura they chose a detached bungalow in Caleta de Fuste. The proximity to the sea, short distances to the marina, shops and medical care were as convincing as the mild year-round climate.
Chief physician and pharmacist not tying up their wealth
The buyer had worked for many years as a chief physician; his wife was a pharmacist. Both had regular income and solid assets from property and capital investments.
Despite sufficient financial means, they did not want to invest their assets entirely in the property purchase. Instead, the financing was to be designed in a balanced way over the long term.
€1,004,950 total, €84,000 for step-free baths and more
- Purchase price: 815.000 €
- Additional costs: 105.950 €
- Renovation (barrier-free bathrooms, photovoltaics, shading and garden): 84.000 €
- Total investment: 1.004.950 €
- Equity: 434.450 €
- Financing required: 570.500 €
The financing share corresponded to around 70 % of the purchase price.
Step-free bathrooms, wider doorways, solar panels
The bungalow was well-kept but had to be adapted to the buyers' long-term needs.
Planned were two barrier-free bathrooms, wider internal passageways, an energy-efficient photovoltaic system, automatic shading systems and a low-maintenance garden design.
All measures were to be completed directly after purchase.
Works costed with trade firms, planned for decades
Before the purchase contract was concluded, all conversions were calculated together with specialist companies.
Deliberately, not only the current life situation was considered but also the requirements of the coming decades.
The buyers also decided to keep enough liquidity for later stages of life and not to use all of their equity.
70% financed, liquidity kept for later years
The financing was set at around 70 % of the purchase price.
The additional costs and a considerable share of equity were paid immediately from own funds.
All modernisation costs, too, were fully included in the original overall plan — covered from equity, not by the bank loan. This meant all work could be carried out directly after the transfer of ownership.
Independent living, lower energy costs
Once the modernisation was complete, a comfortable home was created that allows the buyers self-determined living over the long term.
Running energy costs were reduced by the technical improvements, while living comfort increased significantly.
The property must still fit many years from now
Anyone planning retirement should not focus solely on purchase price and location. A property that still meets personal needs many years later, and whose modernisation is planned early, is equally important.
Frequently asked
Why was a bungalow chosen?
Are barrier-free conversions worthwhile already at the time of purchase?
Why was part of the assets kept?
Caleta de Fuste bungalow planned for comfort and accessibility
Buying a bungalow in Caleta de Fuste shows that property financing should always take long-term life planning into account. Anyone who thinks about comfort, energy efficiency and accessibility early creates the basis for many carefree years on Fuerteventura.
More cases on this theme
Loulé: Financing a townhouse near the old town for a new home
Not every permanent residence on the Algarve has to be right by the sea.
A similar situation in Spain? Let's talk.
Every financing in Spanien is an individual case. In a free initial consultation I will tell you honestly what is feasible and which bank fits.
Book a free consultationAnonymised individual case, not a binding statement for other projects · Brokerage under the §34i GewO licence held by Olga Nikushkina (D-W-132-ZUCB-95); Siegfried Perini registered as directly involved person (§11a GewO) · no tax or legal advice · no financing commitment; conditions depend on creditworthiness, loan-to-value and bank
Related pages
Overview of case reports from the Canary Islands
Market analysis, loan-to-value and conditions for the region.