Practical case Mallorca: Detached house in Llucmajor – From holiday home to permanent residence
The two buyers were 39 and 41 years old and worked in senior positions at an international software company. Both could carry out their work permanently regardless of location.
In short
What was this case about?
The two buyers were 39 and 41 years old and worked in senior positions at an international software company. Both could carry out their work permanently regardless of location.
Is Llucmajor suitable for a permanent residence?
Many buyers appreciate the proximity to Palma, the good transport links and the quiet residential areas. Which location is ideal, however, always depends on personal needs.
Why was the photovoltaic system already taken into account at the purchase?
Because larger investments should sensibly be included in the financing plan from the outset and do not then require additional financing later.
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.
€1,385,000 house, €969,500 loan, €710,550 equity
- Purchase price: 1.385.000 €
- Financing required: 969.500 €
- Equity: 710.550 €
Anonymised case figure · not a binding statement for other projects · §34i GewO
A holiday destination became the new centre of life
A family from Hamburg had initially got to know Mallorca purely as a holiday destination. With the option of working mainly from home, however, their plans changed. Instead of flying to the island several times a year, the wish arose to move permanently to Mallorca and spend everyday life there.
After an intensive search, the decision fell on a modern detached house in Llucmajor. Decisive factors were the good connection to Palma, the proximity to the airport and the comparatively quiet residential location.
A family with two children, both parents working remotely
The two buyers were 39 and 41 years old and worked in senior positions at an international software company. Both could carry out their work permanently regardless of location.
As the family with two children wanted to live on Mallorca year-round, living quality and everyday practicality were the priority. The house had four bedrooms, a garden and enough space for two separate studies.
€1,680,050 in total, €115,000 for solar and home offices
- Purchase price: 1.385.000 €
- Additional costs: 180.050 €
- Renovation (photovoltaics, pool cover, home-office fit-out): 115.000 €
- Total investment: 1.680.050 €
- Equity: 710.550 €
- Financing required: 969.500 €
The financing share corresponded to around 70 % of the purchase price.
Two studies, fast internet, solar power with battery storage
Although the house was only a few years old, it was to be adapted to the needs of a family. Planned were a high-performance internet and network infrastructure, two fully equipped home-office areas, a photovoltaic system with battery storage as well as various energy improvements.
In addition, the financing had to remain permanently sustainable even if one parent's income were to change in the future.
Household budget tested against several future scenarios
Before the purchase, a long-term household plan was drawn up. This took into account not only today's income but also various future scenarios.
In addition, all planned investments were fully calculated and included in the total investment. As a result, it was already clear before the contract was signed what capital requirement would actually arise.
The buyers deliberately chose to keep part of their assets as a safety reserve.
70% through the bank, the safety reserve stays in place
The financing was built with around 70 % of the purchase price.
The additional costs as well as a considerable share of equity were borne from own funds.
All renovation measures were also taken into account from the outset. As a result, the house could be adapted to the requirements of a family living there permanently immediately after handover.
Children at school locally, parents working on as before
Just a few months later, the family moved to Llucmajor. The children were able to attend school locally, while both parents continued their professional work without restrictions.
Thanks to the early renovation, no further major investments were necessary. The house met the requirements of the new centre of life from the very first day.
A house to live in raises different questions than a holiday home
Anyone moving permanently to Spain should not view a property solely from the perspective of a holiday home. Topics such as energy efficiency, studies, everyday practicality and long-term running costs gain considerably in importance.
Frequently asked
Is Llucmajor suitable for a permanent residence?
Why was the photovoltaic system already taken into account at the purchase?
Should reserves be kept despite a high equity ratio?
Llucmajor: financing paves the way for a flexible fresh start
The purchase of a detached house in Llucmajor shows that property financing should always suit one's personal life planning. Anyone who prepares a permanent move to Mallorca, takes renovations into account early and preserves sufficient financial flexibility creates the basis for a successful new start on the island.
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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