Practical case Tenerife: Detached house in El Médano – Home office under the Canary sun
The buyers were 37 and 40 years old. He worked as a software architect, she as head of an international marketing department.
At a glance
- Purchase price: 985.000 €
- Financing required: 689.500 €
- Equity: 528.550 €
Anonymised case figure · not a binding statement for other projects · §34i GewO
When the place of work suddenly no longer matters
A couple from Cologne had realised during the pandemic that both of their professions could be carried out permanently from anywhere. They worked for international companies, initially spent several months a year on Tenerife and finally decided to move their centre of life to the island entirely.
After an intensive search they deliberately chose El Médano over the tourist centres. The relaxed atmosphere, proximity to the sea and the year-round active town life fitted their new lifestyle perfectly.
Initial situation
The buyers were 37 and 40 years old. He worked as a software architect, she as head of an international marketing department. Both earned a stable income and had sufficient equity, but did not want to use all their private reserves for the property purchase.
They were looking for a modern detached house with a garden, two separate studies and enough room for regular visits from family in Germany.
Financing overview
- Purchase price: 985.000 €
- Additional costs: 128.050 €
- Renovation (photovoltaics, fibre cabling, home-office fit-out and pool cover): 105.000 €
- Total investment: 1.218.050 €
- Equity: 528.550 €
- Financing required: 689.500 €
The financing share corresponded to around 70 % of the purchase price.
The challenge
The house was only a few years old but had to be adapted to the everyday life of two people working permanently from home.
Besides two fully equipped work areas, the internet and network technology was to be modernised, a photovoltaic system installed and the outdoor area designed so it could be used year-round.
The buyers wanted to complete all measures immediately after purchase.
Analysis
Before the purchase decision, all planned investments were calculated in detail and considered together with the purchase price and additional costs.
It was also examined how the financing would develop in the long term if one of the buyers were to reduce their working hours or change employer in future.
The financing was therefore deliberately conservative and left sufficient financial reserves in place.
Financing solution
The financing covered around 70 % of the purchase price.
The additional costs and a considerable part of the purchase price were covered from own funds.
All modernisation measures were also fully included in the overall plan. As a result, all work could be carried out immediately after the handover of keys.
Outcome
After a few months, the house was technically and energetically optimised for the family's needs.
Today both work permanently from El Médano and enjoy the advantages of a place where work and quality of life can be combined effortlessly.
What other buyers can learn
Anyone working permanently from abroad should not only consider location when choosing a property. Capable technical equipment, enough space for focused work and sustainable financing planning are today just as much part of a future-proof property.
Frequently asked questions
Is El Médano also suitable as a permanent residence?
Why were the technical modernisations taken into account before the purchase?
Why was not more equity used?
Conclusion
Buying a detached house in El Médano shows how much the requirements for homes have changed. Anyone who wants to live and work permanently abroad should not align their financing only with the property purchase but consider their entire future lifestyle. Careful planning creates the basis for long-term security and maximum flexibility.
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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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