Gandia: Financing a detached house in a quiet residential setting for a permanent centre of life
A couple from Baden-Württemberg, she a senior teacher, he a development engineer, planned a complete move to Spain within the next four years. Both wanted to continue their professional activity partly from home until then and afterwards spend their retirement in Gandia.
At a glance
- Purchase price: 724.000 €
- Renovation: 49.100 €
- Financing required: 470.600 €
- Equity: 389.400 €
Anonymised case figure · not a binding statement for other projects · §34i GewO
More space for everyday life – without having to give up the city
Anyone thinking of Gandia often associates the place with the famous beach. In fact, however, many German-speaking buyers deliberately choose the city's established residential districts. There, generous plots, short distances to the city centre and excellent infrastructure combine with a high quality of life – ideal for people who want to live in Spain permanently.
This practical case shows how buying a detached house for owner-occupation can be implemented with realistic and durable financing.
Initial situation
A couple from Baden-Württemberg, she a senior teacher, he a development engineer, planned a complete move to Spain within the next four years. Both wanted to continue their professional activity partly from home until then and afterwards spend their retirement in Gandia.
They were looking for a detached house with a garden, several terraces and enough room for family visits and two separate studies.
After a longer search they found a property in a quiet residential area north-west of the city centre of Gandia. The house was convincing for its solid build quality and the good access to shops, doctors and the coast.
Financing overview
- Purchase price: 724.000 €
- Additional costs: 86.900 €
- Renovation: 49.100 €
- Total investment: 860.000 €
- Equity: 389.400 €
- Financing required: 470.600 €
The challenge
The equity was made up of savings, a share portfolio and the sale of an apartment. At the same time, the buyers deliberately wanted to keep enough liquidity to be able to shape the transition into retirement flexibly.
Before moving in, the house was to be modernised and functionally adapted to the requirements of permanent living.
Analysis
The property was in well-kept condition. The planned measures mainly served to improve living comfort and energy efficiency.
Provided for were a completely new kitchen, the modernisation of two bathrooms, energy-efficient air conditioning with individual room control, the replacement of several windows with thermally insulating versions and the fit-out of a study with custom-made fitted wardrobes and integrated network technology.
As all measures were planned in detail before the contract was concluded, 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, while at the same time creating a balanced long-term financing structure.
Alongside the purchase price, all acquisition costs and all planned modernisation were financed together. Later top-up financing was therefore not necessary.
Outcome
Once the work was completed, a modern house was created that meets the requirements both of the remaining working years and of later retirement.
The buyers were able to prepare their move over the long term while preserving their financial flexibility.
What other buyers can learn
Not every buyer wants to live right on the coast. The residential areas of Gandia often offer larger plots, more peace and a pleasant living environment, without having to give up the advantages of a well-developed city.
Anyone who fully takes modernisation costs into account already at the acquisition creates a realistic overall calculation and avoids later financing gaps.
Frequently asked questions
Why do many owner-occupiers choose a house in Gandia rather than right on the Playa?
Can modernisation be fully taken into account already at the purchase?
Why is financing used despite sufficient equity?
Which houses are especially in demand in Gandia?
Conclusion
Gandia offers far more than a famous beach. The city combines Mediterranean quality of life with excellent infrastructure and attractive residential locations for owner-occupiers. Financing that takes the purchase price, additional costs and all planned modernisation into account from the start creates the basis for a long-term secure centre of life on the Costa de Valencia.
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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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