Practical case Lanzarote: House in Puerto del Carmen – Gradual emigration with well-considered financing
The buyer worked as a sales manager at an industrial company; his wife was a grammar-school teacher. Both had regular incomes and a debt-free apartment in Germany.
In short
What was this case about?
The buyer worked as a sales manager at an industrial company; his wife was a grammar-school teacher. Both had regular incomes and a debt-free apartment in Germany.
Is Puerto del Carmen only a holiday resort?
Besides tourism, many buyers also choose a permanent residence there, as the town offers good infrastructure and short everyday distances.
Why were all modernisations carried out immediately?
Because the property was to be fully completed before the later move, and later construction work was to 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.
Price €935,000, loan €654,500, own funds €520,050
- Purchase price: 935.000 €
- Financing required: 654.500 €
- Equity: 520.050 €
Anonymised case figure · not a binding statement for other projects · §34i GewO
Property for sale in Puerto del Carmen: first several months on the island, later permanently
A couple from Nuremberg did not want to leave Germany overnight. Instead, both planned the move to Lanzarote over several years. Longer stays were to be possible at first, with the permanent move planned after entering retirement.
After an intensive search they chose a modern house in Puerto del Carmen. Decisive were the good infrastructure, proximity to the sea and the ability to organise everyday life without long distances.
Two steady salaries and a debt-free flat back in Germany
The buyer worked as a sales manager at an industrial company; his wife was a grammar-school teacher. Both had regular incomes and a debt-free apartment in Germany.
Sufficient equity was available but was not to flow entirely into the property purchase. The buyers deliberately wanted to preserve their financial flexibility.
Total investment €1,174,550 including costs and refurbishment
- Purchase price: 935.000 €
- Additional costs: 121.550 €
- Renovation (air conditioning, photovoltaics, pool technology and kitchen): 118.000 €
- Total investment: 1.174.550 €
- Equity: 520.050 €
- Financing required: 654.500 €
The financing share corresponded to around 70 % of the purchase price.
Getting the house ready for year-round living
The house was built to a high standard but was to be consistently prepared for year-round use.
Alongside an energy-efficient photovoltaic system, modern air conditioning, a new kitchen and the renewal of the pool technology were planned.
The buyers wanted to complete all work before their first longer stay.
Every refurbishment quote costed before the contract was signed
Before the purchase contract was concluded, all modernisation measures were calculated with concrete quotes and included in the total investment.
In addition, a financing plan was drawn up that took into account not only the current income situation but already the later retirement.
This made it possible to place the financing on stable long-term foundations.
The loan covers 70%, own funds pay the costs and the works
The financing was set at around 70 % of the purchase price.
The additional costs and a considerable part of the purchase price were covered from own funds.
All modernisation costs, too, were fully taken into account before the purchase. After the transfer of ownership, all measures could be implemented without further financing.
Finished before the first longer stay on Lanzarote
The house was already fully modernised when the buyers began their first stays of several months on Lanzarote.
The later permanent move can take place without additional investment, as all work has already been completed.
Preparing a move abroad over several years
Emigration does not have to happen in a short time. Anyone who prepares the move over several years and aligns the financing with the future life situation early on gains considerably more planning certainty.
Frequently asked
Is Puerto del Carmen only a holiday resort?
Why were all modernisations carried out immediately?
Why was not all of the equity used?
Puerto del Carmen house: financing matched to personal life plans
Buying a house in Puerto del Carmen shows that property financing should always fit personal life planning. Anyone who considers purchase price, modernisation and long-term future plans together creates the basis for a relaxed transition into a new chapter of life on Lanzarote.
More cases on this theme
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When the sale of the previous property is part of the financing
Practical case Mallorca: Finca with guesthouse in Deià
Two generations realise their dream together
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.