DC Couple Buys Italian Apartment for Just 78,000 Euro to Escape High US Housing Prices

Kelly Beigle, 38, and Boris Krstevski, 39, have purchased a 126-square-meter apartment in the Lombardy region of Italy for 78,000 euros. The Washington, D.C.-based couple opted for the cash purchase in late 2024 to avoid the high costs and long-term debt associated with the United States real estate market, aiming to use the property as a part-time residence and short-term rental investment.

Why this shift in real estate strategy matters

The couple’s decision highlights the growing divide between U.S. metropolitan property prices and more accessible European markets. After searching for homes in Washington, D.C. since 2014, Beigle noted that local prices had risen exponentially, leaving them unwilling to commit to million-dollar mortgages. By shifting their focus to Europe—specifically exploring Portugal, Spain, and eventually Italy—they managed to secure a property for a price they described as equivalent to a down payment in the U.S.

Did You Know? The couple’s apartment in Lombardy is located in a small building with only three other units, and while it is categorized as a five-room apartment in Italy, it functions as a two-bedroom home with a full kitchen, dining room, and living room.

Operational challenges of international property ownership

Managing an international renovation from abroad has presented significant logistical hurdles, according to the owners. Despite working with Italian real estate lawyers, the purchase process took from September 2024 to mid-December 2024 to finalize. The couple has faced ongoing difficulties with local infrastructure, including the complexity of setting up utilities and the necessity of hiring a carpenter for a custom kitchen, as most Italian apartments are sold without one.

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Expert Insight: Samantha Carter observes that while the absence of a mortgage provides significant cash-flow freedom, international buyers often underestimate the “hidden” cost of administrative friction. The requirement for on-site presence to manage contractors and municipal appointments frequently turns a low-cost purchase into a high-labor commitment for remote owners.

What may happen next

As the owners continue to modernize the property, including a complete electrical overhaul and kitchen installation, they are planning for a future of part-time residency in Italy. They expect to generate income through platforms like Airbnb once the renovations, estimated to total 25,000 euros, are complete. If this model proves successful, the couple suggests they are likely to pursue further real estate investments in Europe rather than returning to the U.S. market, viewing the European properties as more sustainable long-term assets.

Frequently Asked Questions

Why did the couple choose Italy over Portugal?
After a six-month European road trip, the couple pivoted to Italy because they had sufficient cash to purchase a property outright for 78,000 euros, avoiding the mortgage process they struggled with while attempting to buy in Lisbon.

What are the main costs associated with their Italian property?
The purchase price was 78,000 euros, with an additional 25,000 euros earmarked for renovations, including a full electrical upgrade and a custom-built kitchen.

What is the biggest hurdle they have faced as remote owners?
According to the owners, the primary challenges are the significant time difference, the complexity of setting up utilities compared to the U.S., and the limited availability of local authorities who often operate on restricted schedules.

Would you consider investing in international real estate to bypass high domestic housing costs?