Mijas: Financing an Andalusian country house for life between the coast and the mountains
An IT entrepreneur from Cologne and his partner wanted to move their centre of life permanently to Andalusia. While he continued to run his company entirely remotely, she planned to build up a freelance consulting activity from Spain.
In short
What was this case about?
An IT entrepreneur from Cologne and his partner wanted to move their centre of life permanently to Andalusia. While he continued to run his company entirely remotely, she planned to build up a freelance consulting activity from Spain.
Is a country house in Mijas financed like a villa?
If the house is in a regular residential setting and is used as a residential property under building law, the financing options often do not differ significantly from other homes.
Why were two home-office areas planned in?
More and more buyers work permanently or partly remotely. Two separate studies considerably ease professional everyday life when both partners work from home.
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.
A €864,000 country house, €604,800 of it via the bank
- Purchase price: 864.000 €
- Renovation: 52.300 €
- Financing required: 604.800 €
- Equity: 415.200 €
Anonymised case figure · not a binding statement for other projects · §34i GewO
Property for sale in Mijas: living with a panoramic view and authentic Andalusia
Mijas unites two worlds: the traditional white mountain village with its Andalusian charm and the modern residential areas towards the coast. Many German-speaking buyers deliberately choose Mijas because they appreciate the peace of an established residential setting without having to give up the proximity to Fuengirola, Marbella or Málaga.
This practical case describes the financing of a country house in a regular residential setting for permanent owner-occupation. It is expressly not a rustic finca outside a residential area.
An IT entrepreneur keeps running his company from Andalusia
An IT entrepreneur from Cologne and his partner wanted to move their centre of life permanently to Andalusia. While he continued to run his company entirely remotely, she planned to build up a freelance consulting activity from Spain.
They were looking for a generous house with a garden, several terraces and enough room for two home-office areas. The decision fell on an Andalusian-style country house in an established urbanisation above the coast.
€1,020,000 for purchase, fees and renovation together
- Purchase price: 864.000 €
- Additional costs: 103.700 €
- Renovation: 52.300 €
- Total investment: 1.020.000 €
- Equity: 415.200 €
- Financing required: 604.800 €
Capital is tied up in the firm, liquidity is to be kept
A significant part of the assets was tied up in the company. Although sufficient own funds were available, as much liquidity as possible was to be preserved in order not to restrict the further business development.
At the same time, the house was to be brought up to date technically before moving in and optimally equipped for working from home.
Two separate home offices with fibre, plus kitchen and baths
The property was convincing for its location, well-kept condition and generous outdoor areas. The planned investments mainly served to improve living comfort.
Provided for were a completely new kitchen, the renewal of two bathrooms, the installation of modern sliding elements to the terrace, more energy-efficient air conditioning, additional shading on the south side and the fit-out of two independent home-office areas with a fibre-optic connection.
As all measures were defined before the contract was concluded, they were fully included in the total investment.
70% financed, liquidity stays in the business
The financing was set at around 70 % of the purchase price. This kept sufficient liquidity for the company without unnecessarily burdening the financing.
Alongside the purchase price, all acquisition costs and all intended modernisation were taken into account from the start. This meant the property could be used permanently immediately once the work was completed.
A country house with modern comfort, work goes on from Spain
After a few months, a house was created that combines the traditional architecture with modern living comfort. The buyers were able to move their centre of life to Mijas as planned and continue their professional activity entirely from Spain.
Thanks to the balanced financing, sufficient financial room for action remained at the same time.
A country house in a residential area is financed unlike a finca
Not every property with a rural character is automatically a rustic finca. If a house is in a regular residential setting, different financing options often apply than for genuine agricultural properties.
The financing should therefore always be planned on the basis of the property's actual legal and structural situation.
Frequently asked
Is a country house in Mijas financed like a villa?
Why were two home-office areas planned in?
Can modernisation be fully taken into account?
Why is not all of the equity used?
Andalusian country house: financing a fresh start in Mijas
Mijas combines the charm of Andalusia with an excellent quality of living and short distances to the Costa del Sol. Anyone who budgets the purchase price, additional costs and all planned modernisation together early in the overall plan — the bank loan for the purchase price, additional costs and modernisation from equity — creates the best conditions for a long-term successful new start in Spain.
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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