Kelly Beigl, 38, and Boris Krustevsky, 40, had been living in Washington, D.C., on and off for years, when they decided they wanted to buy a home of their own in the nation’s capital.
They considered several locations in the area, but even if they could afford it, they said they couldn’t wrap their heads around a 30-year mortgage, thousands of dollars in monthly payments and tens of thousands of dollars down payment. Both Mr. Beigl and Mr. Krstevsky work in finance.
“We’ve both had a lot of success in our careers and definitely make a lot of money, but as we’ve gotten older we’ve started to wonder, ‘Why are we working so much? Why do we have to make so much money to live the quality of life that we want?'” Beigl told CNBC Make It.
According to Redfin, the U.S. housing market is currently stagnant, with sales still weak despite gradual easing of mortgage rates. In Washington, DC, the median home price is $685,000, up 3% from last year.
Krstevski is from Serbia, and the couple liked the idea of having a place that was close to his family and where they could split their time between Europe and the United States. They decided to pivot to buying a vacation home in Europe instead.
Krstevsky had never seen the apartment in person until it closed.
kelly bagel
Mr. Beagle and Mr. Krstevski began looking for properties in Portugal and almost found an apartment, but no deal was reached. They agreed to make a down payment of €100,000 or US$115,806 and secured a mortgage to pay the remainder of the asking price, which at the time was $607,982.
“It actually turned out to be a blessing in disguise,” Beigl said. “We were buying on the wave of excitement in a high-priced real estate market and didn’t necessarily realize that we were part of the problem.”
According to the European Commission, house prices in the European Union rose by 50% on average between 2014 and 2024. However, according to Euronews, nominal prices in Portugal rose by more than 200% during the same period.
Reasons for the increase include rising interest rates, a surge in short-term rentals, a lack of new construction, and demand from wealthy families and investors.
find it
During a road trip to Europe, Beigl used the time to observe the homes he drove through. While in northern Italy, the couple realized how affordable the area was and that with the €100,000 they had in savings, they could easily afford to buy a place there.
Mr. Beigl went on a five-day scouting trip to Italy with his cousin to check out apartments.
kelly bagel
A few months later, Beigl went on a reconnaissance trip around Lake Iseo in Italy. She visited 15 places in 5 days. The last house Bagel saw turned out to be the one she was most excited about. The price was less than 100,000 euros, close to the lake and Milan, and as close to turnkey as possible.
“We didn’t want to go into the mountains, and we didn’t want to spend a lot of money on renovations,” Krstevsky said.
The property is a 126-square-meter (1,356-square-foot) home with three bedrooms and one bathroom. This is one of only three units in the building, with each apartment occupying an entire private floor.
The apartment was listed for 89,000 euros ($103,067), but the couple managed to reduce the price to $90,329. The couple paid $107,063 for the home, including closing costs, according to documents reviewed by CNBC Make It.
The apartment had been vacant for some time and needed a new kitchen, a fresh coat of paint, and other minor repairs. Since closing on the apartment in December 2024, the couple has spent an estimated $28,952 in repairs.
“Looking back, having the property vacant for a while and having utilities shut down was probably a bigger risk than I realized at the time,” Beigl said.
The couple had to build a custom kitchen.
kelly bagel
The couple visited the apartment together for the first time in January. It was the first time Krstevsky had seen the place in person. Until then, he had only looked at photos and videos and used Google Maps to get an overview of the land.
“I had a picture in my head, but when I got there I wasn’t disappointed,” he says. “As I approached the town, I realized I had already seen everything on Google Maps. It felt like I was already there.”
Beigl admitted that she was waiting patiently for her husband’s reaction.
“We were only planning on making it a vacation home, so the stakes weren’t that high,” she says. “But I was waiting to see what he thought. I remember him liking it and saying we picked the right one. So it felt really good.”
Renovations to the couple’s unit included baseboard and window repairs and electrical upgrades.
kelly bagel
looking forward to the new chapter
The couple hasn’t been able to spend as much time in their apartment since it closed, but they’re looking forward to a new way of life in Italy, and a slower pace.
“I imagine us enjoying a slightly less chaotic life and spending more time in nature,” Beigl says.
“I just want to enjoy life by the lake,” Krustevsky added. “I’m going to ride my bike, play soccer, and have fun with my wife and dog.”
Almost a year after their big purchase, the couple say they have no regrets about buying property in Italy instead of the United States.
“I feel like this is a moment of crisis. I haven’t really articulated my feelings yet, but it’s very exciting to be nearing the end of the renovation process. It feels like the next chapter. I don’t know what the next chapter is, but it’s exciting as well,” Beigl said.
“There’s no doubt about it. We got an amazing apartment for an amazing price. It was a lot of work. Everything is great for our lifestyle, and my philosophy is that we need to take things one step at a time,” Krstevski says.
Conversion from EUR to USD was performed using the OANDA exchange rate of 1 EUR to 1.16 USD on November 13, 2025. All amounts are rounded to the nearest dollar.
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