Oropesa del Mar: Financing an apartment with a generous terrace for a permanent centre of life
A couple from North Rhine-Westphalia, both long active in senior positions at an industrial company, wanted to prepare the transition into retirement early. The aim was to spend a large part of the year in Spain in future and later move to Oropesa del Mar entirely.
At a glance
- Purchase price: 568.000 €
- Renovation: 33.800 €
- Financing required: 368.200 €
- Equity: 301.800 €
Anonymised case figure · not a binding statement for other projects · §34i GewO
Living by the sea with excellent transport links
Oropesa del Mar is one of the best-known coastal towns in the province of Castellón. Alongside the long sandy beaches and the well-kept promenade, the town is convincing for its good infrastructure, a railway station with a direct connection and its proximity to Castellón de la Plana and Valencia. For many German-speaking buyers, Oropesa del Mar is therefore an interesting choice when a permanent residence on the Mediterranean is planned.
This practical case shows how buying a modern apartment can be financed durably and soundly.
Initial situation
A couple from North Rhine-Westphalia, both long active in senior positions at an industrial company, wanted to prepare the transition into retirement early. The aim was to spend a large part of the year in Spain in future and later move to Oropesa del Mar entirely.
They were looking for a generous apartment with a large terrace, a lift and an underground parking space. The property was to be as low-barrier as possible and comfortably usable year-round.
After a longer search they chose a modern apartment in a well-kept residential complex a short distance from the beach.
Financing overview
- Purchase price: 568.000 €
- Additional costs: 68.200 €
- Renovation: 33.800 €
- Total investment: 670.000 €
- Equity: 301.800 €
- Financing required: 368.200 €
The challenge
The equity consisted of savings and a securities portfolio built up over the long term. At the same time, the buyers wanted to keep part of their assets invested in order to remain financially flexible in retirement too.
Before moving in, the apartment was to be adapted to their own living habits.
Analysis
The property was technically in good condition. The intended measures mainly served individual equipment and better everyday practicality.
Planned were a new fitted kitchen, the modernisation of the main bathroom, custom-made fitted wardrobes in the bedroom, modern air conditioning with individual room control and high-quality glazing of the terrace so it could be used comfortably outside the summer months too.
As all measures were calculated in detail before the purchase, they could be fully included in the total investment.
Financing solution
The financing was set at around 65 % of the purchase price. This kept a considerable part of the equity as a financial reserve, while at the same time creating a balanced long-term financing structure.
Alongside the purchase price, all acquisition costs and all planned modernisation measures were financed together. Later top-up financing was therefore not required.
Outcome
Once the work was completed, a comfortable residence was created that meets the requirements both of the remaining working years and of later retirement.
The buyers were able to extend their stays in Spain gradually and prepare the final move over the long term.
What other buyers can learn
An apartment near the coast often offers a high quality of life but should be tuned to the requirements of year-round living. Anyone who plans the purchase price, additional costs and modernisation together already at the acquisition creates a robust overall calculation and avoids later financing gaps.
Frequently asked questions
Why is Oropesa del Mar attractive for owner-occupiers?
Can terrace modernisation be co-financed?
Why is existing wealth not used in full?
Which properties are especially in demand in Oropesa del Mar?
Conclusion
Oropesa del Mar combines Mediterranean quality of life with good infrastructure and excellent accessibility. Financing that takes the purchase price, additional costs and all planned modernisation into account already at the acquisition creates a reliable basis for a long-term centre of life on the Costa del Azahar.
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To the case report →A similar situation in Spanien? 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 · Siegfried Perini, BAFA-notified for the cross-border activity of the owner Olga Nikushkina · §34i GewO · no tax or legal advice · no financing commitment; conditions depend on creditworthiness, loan-to-value and bank
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