Estepona: Financing a modern detached house between the old town and the coast
A couple from Austria, both engineers in senior positions, wanted to move their centre of life entirely to Spain within the next three years. Until then, work was to be mostly from home, which is why enough living space and two separate studies were indispensable.
In short
What was this case about?
A couple from Austria, both engineers in senior positions, wanted to move their centre of life entirely to Spain within the next three years. Until then, work was to be mostly from home, which is why enough living space and two separate studies were indispensable.
Why do many owner-occupiers choose Estepona?
Estepona offers a high quality of life, a well-kept old town, modern infrastructure, long beaches and good accessibility of Málaga airport.
Can equipment wishes be co-financed with nearly new properties?
As a rule the Spanish bank does not co-finance modernisation — it belongs in the overall plan: equity or raising capital against German property.
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 €928,000, loan €630,400, works €60,600
- Purchase price: 928.000 €
- Renovation: 60.600 €
- Financing required: 630.400 €
- Equity: 469.600 €
Anonymised case figure · not a binding statement for other projects · §34i GewO
Property for sale in Estepona: relaxed living on the Costa del Sol
Estepona has developed in recent years into one of the most popular residential towns on the Costa del Sol. The lovingly restored old town, the miles-long beach promenade and the excellent infrastructure make the town especially attractive for German-speaking owner-occupiers. At the same time, Estepona offers a quieter living environment than some neighbouring places, without having to give up comfort or quality of life.
This practical case shows how acquiring a modern detached house for permanent owner-occupation can be financed.
Austrian engineer couple moving for good in three years
A couple from Austria, both engineers in senior positions, wanted to move their centre of life entirely to Spain within the next three years. Until then, work was to be mostly from home, which is why enough living space and two separate studies were indispensable.
After an intensive search they chose a detached house in a quiet residential area of Estepona. The property was only a few years old but was to be adapted to their personal living ideas in some areas.
€1,100,000 total, €469,600 from their own funds
- Purchase price: 928.000 €
- Additional costs: 111.400 €
- Renovation: 60.600 €
- Total investment: 1.100.000 €
- Equity: 469.600 €
- Financing required: 630.400 €
Flat sale plus savings, part of it stays untouched
The buyers had equity from savings and the sale of an apartment. At the same time, part of their assets was to remain deliberately untouched in order to have sufficient reserves for later retirement and unforeseen expenses.
In addition, all adaptations were to be completed before moving in.
Kitchen, bath, sun shading and two studies
The house was in very good structural condition. The planned investments mainly served individual design and a further improvement of energy efficiency.
Planned were a high-quality fitted kitchen, the modernisation of a bathroom, the installation of energy-efficient sun-protection systems, the extension of the climate control to individual living areas and the fit-out of a generous home office with custom-made fitted furniture.
As all measures were calculated in detail before the purchase, they could be fully included in the total investment.
68% loan-to-value, the retirement reserve stays
The financing was set at around 68 % of the purchase price. This kept enough equity as a reserve, while at the same time creating a durable financing structure.
Alongside the purchase price, all additional costs and the planned modernisation were included in the overall plan from the outset — covered from equity, not by the bank loan. This meant the house could be occupied without further financing steps once the work was completed.
House fitted to their needs, payments planned long term
Once the modernisation was complete, a house was created that is optimally tailored to the buyers' needs and offers ideal conditions both for the remaining working years and for later retirement.
The financing remained plannable and at the same time left sufficient financial room for future plans.
Even a nearly new house needs personal adjustments
Modern houses too often need individual adaptations before they fully match personal requirements. If these measures are taken into account already at the acquisition, a realistic overall calculation and significantly higher planning certainty emerge.
For a permanent move to Spain in particular, this holistic approach pays off.
Frequently asked
Why do many owner-occupiers choose Estepona?
Can equipment wishes be co-financed with nearly new properties?
Why is financing used despite existing equity?
Which properties are especially in demand in Estepona?
Estepona detached house with renovation in one financing package
Estepona combines a Mediterranean feel of life with excellent infrastructure and a high quality of living. An overall plan that budgets the purchase price, additional costs and all planned modernisation together from the start — the bank loan for the purchase price, additional costs and modernisation from equity — creates a solid basis for a permanent centre of life on the Costa del Sol.
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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