How to Convert a Premises into Housing

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Converting premises into housing can be an attractive option for those looking to expand possibilities in the property market and solve housing problems. However, it is crucial to understand the legal requirements and the steps necessary to carry out this process of converting premises into housing.

Essentially, the premises must meet the minimum surface area requirements and municipal regulations to be considered habitable. This means guaranteeing at least 38m2 of usable space (or 25m2 for studios), as well as meeting urban floor standards, natural light and basic facilities. Meeting these conditions is essential when assessing the suitability of a space as a dwelling.

converting premises into housingThe procedure for converting premises into housing involves contacting an architect to draw up a project that complies with local planning regulations. Once approved by the Town Council, the cadastral declaration of alteration of real estate is made and the corresponding building permit is obtained. The necessary renovations can then be carried out by a team of professionals and the new home can be registered with a notary.

It is important to bear in mind that this process can involve significant costs, which go beyond the change of use project and obtaining the certificate of habitability. The costs associated with planning permission and renovations must also be considered, which can represent a considerable investment. However, this investment can be beneficial, especially in areas with high housing demand and little commercial activity.

When financing the purchase of a converted local property, it is crucial to consider the specific conditions of the mortgage. These may include higher interest rates, limits on lending rates and shorter repayment terms. Being aware of these disparities is essential when seeking financing to purchase property.

As for the premises, it can be adapted to include a living room, kitchen, bathroom, toilet and, if space permits, additional rooms.

The transformation of premises into housing can be an exciting and profitable opportunity for those who are willing to go through the necessary steps and commit to the process.

Contact us for more information or to find your next property in Tenerife! We are here to help you.