Detached house in Vinaròs – Financing a home before retirement
A married couple from Saxony, both engineers in mechanical engineering for many years, wanted to plan for retirement early and to work regularly from Spain already some years before retiring. They were looking for a detached house with a low-maintenance garden, a covered terrace and enough room for family visits.
Is the modernisation of a house in Vinaròs part of the loan?
No. As a rule the Spanish bank does not co-finance modernisation, so the €36,200 for kitchen, bathroom, air conditioning and roof insulation came from equity. The loan was €357,600, about 65 percent of the €548,000 purchase price. The equity came from savings and an apartment sale, and part of it was kept as a reserve.
€548,000 price, €357,600 financing need at a glance
- Purchase price: 548,000 €
- Renovation: 36,200 €
- Financing required: 357,600 €
- Equity: 292,400 €
Anonymised case figure · not a binding statement for other projects · §34i GewO
Living in Vinaròs: Mediterranean life away from the large tourist centres
Vinaròs lies in the northernmost part of the Valencian Community directly on the Costa del Azahar and is convincing with an established town structure, a beautiful seafront promenade and a high quality of life. The town offers everything needed for everyday life – from shopping to medical care and good transport links. For German-speaking buyers who value peace and authenticity in particular, Vinaròs is increasingly developing into an attractive place to live.
This practical case shows how acquiring a detached house for permanent owner-occupation can be financed.
Two engineers from Saxony want to work from Spain sooner
A married couple from Saxony, both engineers in mechanical engineering for many years, wanted to plan for retirement early and to work regularly from Spain already some years before retiring.
After an intensive search they found a property in a quiet residential area near the coast of Vinaròs.
€650,000 total investment, split into equity and loan: Purchase price: 548,000 €; Additional costs: 65,800 €; Renovation: 36,200 €; Total investment: 650,000 €; Equity: 292,400 €; Financing required: 357,600 €.
Savings and a flat sale, part of it kept as a reserve: The equity came from a combination of savings and the sale of an apartment. At the same time, the buyers deliberately wanted to keep part of their assets as a reserve.
In addition, the house was to be modernised before moving in so it would meet the requirements of a permanent residence over the long term.
Sound structure; kitchen, bath and roof insulation planned
The property had a solid building fabric and was immediately usable. The planned measures therefore focused on living comfort and energy efficiency.
Planned were a new kitchen with a generous island, the modernisation of the main bathroom, the replacement of the air-conditioning units with more efficient systems, additional thermal insulation in the roof area and the fit-out of a multifunctional work and guest room.
As all work was planned in detail before the purchase contract was concluded, it could be fully included in the total investment.
Loan set at 65% of the price, the reserve stays untouched
The financing was set at around 65 % of the purchase price. This kept enough equity as a financial reserve, while at the same time creating a balanced long-term financing structure.
Alongside the purchase price, all additional costs and the planned modernisation measures were included in the overall plan from the outset — covered from equity, not by the bank loan. Later additional financing was therefore not required.
A home for the working years, moving over step by step: Once the work was completed, a comfortable house was created that offers optimal conditions both for the remaining working years and for later retirement.
The buyers were able to shift their centre of life to Spain gradually while keeping enough financial flexibility.
Away from the well-known coastal towns, all costs figured first
Attractive homes with a balanced price-performance ratio are also found outside the well-known coastal metropolises. Anyone who fully calculates the purchase price, additional costs and modernisation in advance creates a solid basis for a relaxed new start in Spain.
Detached house in Vinaròs away from the big tourist centres: Vinaròs offers ideal conditions for people seeking Mediterranean quality of life away from the large tourist centres. 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 reliable basis for a long-term centre of life on the Costa del Azahar.
Frequently asked questions
Why is not all of the equity used?
Many buyers want to keep financial reserves for retirement or unforeseen expenses and therefore choose balanced financing.
Which properties are especially in demand in Vinaròs?
Detached houses, apartments and modern townhouses in quiet residential settings are among the preferred properties for permanent owner-occupation.
What does Vinaròs on the Costa del Azahar offer for everyday life?
Vinaròs has an established town structure, a beautiful seafront promenade and a high quality of life. The town offers everything needed for everyday life, from shopping to medical care and good transport links.
A similar situation in Spain? Let's talk.
Every financing in Spain is an individual case. In a free initial consultation I will tell you honestly what is feasible and which bank fits.
Anonymised 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
Practical case Mallorca: Charming finca near Santanyí
Modernisation planned in from the start
Practical case Mallorca: Family house in Alcúdia
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
Content by Siegfried Perini — local brand representative since 2019, active in real estate since 1992, entered in the German intermediary register (§ 11a GewO) as a person directly involved in brokerage and advice. Point of contact for German-speaking buyers in Spain and Portugal. Brokerage by Olga Nikushkina, mortgage credit intermediary under § 34i German Trade Regulation (GewO); in Portugal through a locally licensed intermediary.