Alcossebre: Financing a bungalow near the coast for a permanent centre of life
A couple from Schleswig-Holstein, both active for many years as physiotherapists, planned complete retirement in Spain. After numerous trips along the Spanish Mediterranean coast, they deliberately decided against larger cities and instead looked for a manageable coastal town with a natural environment.
At a glance
- Purchase price: 486.000 €
- Renovation: 25.700 €
- Financing required: 313.800 €
- Equity: 256.200 €
Anonymised case figure · not a binding statement for other projects · §34i GewO
Quiet living between a nature park and the Mediterranean
Alcossebre is one of the most charming coastal towns on the Costa del Azahar. The place lies at the edge of the Serra d'Irta nature park and offers a rare combination of wide beaches, protected nature and a relaxed living atmosphere. Unlike classic holiday resorts, Alcossebre is also interesting for buyers who want to move their centre of life permanently to Spain and value peace and a good quality of life.
This practical case shows how buying a bungalow for owner-occupation can be sensibly financed.
Initial situation
A couple from Schleswig-Holstein, both active for many years as physiotherapists, planned complete retirement in Spain. After numerous trips along the Spanish Mediterranean coast, they deliberately decided against larger cities and instead looked for a manageable coastal town with a natural environment.
They chose a single-storey bungalow in a quiet residential complex in Alcossebre. The short distances to the beach, the low-maintenance garden and the almost barrier-free layout were particularly convincing.
Financing overview
- Purchase price: 486.000 €
- Additional costs: 58.300 €
- Renovation: 25.700 €
- Total investment: 570.000 €
- Equity: 256.200 €
- Financing required: 313.800 €
The challenge
The equity came from the sale of an apartment and from long-term savings. At the same time, the buyers wanted to keep financial reserves for retirement and not finance the acquisition solely from own funds.
Before moving in, the bungalow was to be optimised for age-appropriate living and energy efficiency.
Analysis
The property was well-kept and immediately usable. The planned measures mainly served long-term everyday practicality.
Planned were a new fitted kitchen with an ergonomic working height, the conversion of the bathroom to a level-access shower, modern air conditioning with heat-pump technology, new thermally insulating terrace doors and additional storage solutions in the utility area.
As all work was planned in detail before the contract was concluded, it 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 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 fully integrated into the financing. Later top-up financing was therefore not required.
Outcome
Once the work was completed, a comfortable residence was created that enables the buyers largely barrier-free and energy-efficient living.
The financing remained calculable over the long term and at the same time left enough financial room for travel and personal wishes in retirement.
What other buyers can learn
Anyone planning retirement in Spain should think about future living needs already at the property purchase. Age-appropriate adaptations and energy improvements can be implemented much more easily and economically before moving in.
Complete financing planning creates security from the start.
Frequently asked questions
Why is Alcossebre interesting for owner-occupiers?
Can low-barrier conversions be co-financed?
Why do buyers choose a bungalow?
Which properties are especially in demand in Alcossebre?
Conclusion
Alcossebre combines nature, sea and peace in a special way. Financing that takes the purchase price, additional costs and all planned modernisation into account together from the start creates the basis for a long-term secure and comfortable 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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