Kelly Beigle, 38, and Boris Krstevski, 40, had lived in Washington, D.C., on and off for years when they decided they wanted to buy a place of their own in the nation’s capital.
The two looked at a couple of places across the district, but say they couldn’t wrap their heads around a 30-year mortgage, monthly payments in the thousands, and a down payment of tens of thousands of dollars — even though they could afford it. Both Beigle and Krstevski work in finance.
“We both have had a lot of career success and arguably make decent money, [but] had gotten to a point with our age that we’re like ‘Why are we working so much?’ Why are we having to make so much money to live the quality of life that we want to live?,'” Beigle tells CNBC Make It.
The U.S. housing market is currently stagnant, with sales remaining sluggish despite mortgage rates slowly easing, according to Redfin. In Washington, D.C., the median home price is $685,000, up 3% from last year.
Krstevski is originally from Serbia, and the couple liked the idea of being closer to his family and having a place where they could split their time between Europe and the United States. They decided on pivoting to buying a vacation home in Europe instead.
Krstevski didn’t see the apartment in person until after they closed.
Kelly Beigle
Biegle and Krstevski started their search in Portugal and almost closed on an apartment, but the deal fell through. They had agreed to pay a down payment of 100,000 euros or $115,806 USD and secured a mortgage to pay the rest of the asking price, which was $607,982 at the time.
“It actually ended up being a blessing in disguise,” Beigle says. “We were buying in an inflated real estate market, riding that wave of excitement [and] didn’t necessarily recognize that we were kind of part of the problem.”
Home prices in the European Union, on average, increased 50% between 2014 and 2024, according to the European Commission. But nominal prices in Portugal have exceeded 200% during the same period, according to Euronews.
The reasons for the increase include higher interest rates, a surge in short-term rentals, lack of new construction, and demand from wealthier families and investors.
Finding the one
On a road trip in Europe, Beigle used the time to look at homes in the places they were driving through. While in northern Italy, the couple learned how affordable the area was and that, with the 100,000 euros they had in savings, the two could afford to buy a place there outright.
Beigle went on a five day scouting trip in Italy with her cousin to look at apartments.
Kelly Beigle
Months later, Beigle went on a scouting trip around Lago Iseo, Italy. She viewed 15 places in five days. The final home Beigle saw turned out to be the one she was most excited about. It checked all the boxes: under 100,000 euros, close to the lake and to Milan, and was as close to turnkey as possible.
“We didn’t want to be up in the mountains and we didn’t want to spend a lot of money for a renovation,” Krstevski says.
The property is a 126 square meter — 1,356 square foot — residence, featuring three bedrooms and one bathroom. It is one of just three units in the building, with each apartment occupying an entire private floor.
The apartment was listed at 89,000 euros — $103,067 USD — but the couple was able to get the price down to $90,329. Including closing costs, the couple paid $107,063 for the home, according to documents reviewed by CNBC Make It.
The apartment had been vacant for a while and needed a new kitchen, a fresh coat of paint, and some other minor repairs. Since closing on the apartment in December 2024, the couple has spent an estimated $28,952 fixing it up.
“I think if I were to look back now, it being vacant for a while and the utilities turned off probably should have been a bigger risk than I realized at the time,” Beigle says.
The couple had to build a custom kitchen.
Kelly Beigle
The couple visited the apartment together for the first time in January. It was Krstevski’s first time seeing the place in person. Up until then, he had only seen photos, videos and used Google Maps to get a lay of the land.
“I had created a picture in my mind [and] when I went, I was not disappointed,” he says. “When we were approaching the town, I realized I had already seen everything on Google Maps. I felt like I had already been there.”
Beigle admits she’d been on pins and needles waiting for her husband’s reaction.
“Since we had only planned for it to be a vacation home, the stakes weren’t so 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 was a good feeling.”
Renovations on the couple’s unit included repairs to the baseboards and windows, and upgrading the electrical.
Kelly Beigle
Looking forward to a new chapter
The couple hasn’t been able to spend that much time in the apartment since they closed, but they are looking forward to a new way of life in Italy — and a slower pace.
“I’m picturing us enjoying a slightly less chaotic life and spending more time out in nature,” Beigle says.
“I just want to enjoy my life out there by the lake,” Krstevski adds. “I’m just going to ride a bike, play soccer and enjoy it with my wife and our dog.”
It’s been almost a year since their big purchase and the couple says they have no regrets about buying property in Italy instead of the U.S.
“I feel like it’s a pinch me moment. I haven’t really nailed down my emotions on it but being near the end of the process with the renovations is very exciting. It feels like a next chapter and although I’m not sure what that next chapter is, it’s exciting too,” Beigle says.
“I don’t have any doubts. We got an apartment that is phenomenal for a phenomenal price. It was hard work. Everything is just great for our lifestyle and my philosophy is we need to take things one step at a time,” Krstevski says.
Conversions from euros to USD were done using the OANDA conversion rate of 1 euro to $1.16 USD on November 13, 2025. All amounts are rounded to the nearest dollar.
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