Vinaròs: Financing a detached house near the coast for a permanent centre of life
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.
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
Mediterranean living 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.
Initial situation
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. After an intensive search they found a property in a quiet residential area near the coast of Vinaròs.
Financing overview
- Purchase price: 548.000 €
- Additional costs: 65.800 €
- Renovation: 36.200 €
- Total investment: 650.000 €
- Equity: 292.400 €
- Financing required: 357.600 €
The challenge
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.
Analysis
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.
Financing solution
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 fully integrated into the financing. Later additional financing was therefore not required.
Outcome
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.
What other buyers can learn
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.
Frequently asked questions
Why is Vinaròs interesting for owner-occupiers?
Can energy improvements be co-financed?
Why is not all of the equity used?
Which properties are especially in demand in Vinaròs?
Conclusion
Vinaròs offers ideal conditions for people seeking Mediterranean quality of life away from the large tourist centres. Financing that takes the purchase price, additional costs and all planned modernisation into account together from the start 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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