A retired teacher who lives just outside Jerusalem had a plan: take ₪600,000—about $150,000—from her Israeli bank account and buy a small apartment in the city.
“Just a little place,” she said, “so I’ll always have somewhere to stay.”
The idea had charm. But as we spoke, she began to realize something: she wasn’t craving real estate—she was craving reassurance. A feeling that she belonged. That she’d always have a place to drop her bags and settle in.
The Hidden Price Tag on “Peace of Mind”
Owning an apartment sounds comforting, especially in a city like Jerusalem where every stone feels steeped in meaning. But property comes with baggage that doesn’t fit neatly into a budget spreadsheet—maintenance, taxes, legal issues, and the constant background hum of “What if something breaks while I’m not there?”
And then there’s the question of liquidity. Tying up $150,000 in real estate means locking away flexibility. That money, which currently supports her through a balanced U.S. investment portfolio, would now sit in stone—and stone doesn’t write checks.
Real estate can be rewarding, but it doesn’t guarantee returns and managing it from afar can quickly turn into a full-time job no one applied for.
“I Just Want a Place to Leave My Suitcase”
She said it with a laugh, but the truth in that sentence hit hard. That’s not a financial strategy. That’s a feeling. And feelings deserve respect, but they also deserve a little scrutiny.
What she wanted was to be in the city. Not to own it. So we brainstormed alternatives: short-term rentals, Airbnb, time with family. These options gave her the warmth, routine, and connection she craved without dragging along a deed and a list of responsibilities.
By holding onto her investment account, she preserved her ability to adjust, whether for travel, gifts to grandchildren, or unexpected expenses. She stayed in control, not just of her finances, but of her lifestyle.
Deciding About Buying a Property?
For her, skipping the apartment wasn’t about missing out. It was about choosing wisely. She didn’t need square meters to feel settled. She needed freedom. And she kept it.
If you’re wrestling with the real estate question, you’re not alone. There’s no one-size-fits-all answer, but there are smarter ways to think it through. If you’re deciding whether to buy a place or stay invested, take a look at Simplifying the Real Estate vs. Stock Market Debate.
You might discover that the key to feeling at home isn’t about owning a door key—it’s about knowing you can walk through the right door when it opens.
Note: This article is for educational purposes only and is not intended as financial, legal, or tax advice. Please consult a qualified professional for guidance specific to your situation.
Douglas Goldstein, CFP® is the director of Profile Investment Services, Ltd. www.Profile-Financial.com. Securities offered through Portfolio Resources Group, Inc. Member FINRA, SIPC, MSRB, FSI. The opinions expressed are those of the author and not those of this website, Portfolio Resources Group, Inc. or its affiliates. Neither Profile nor Portfolio Resources Group, Inc. or its affiliates, provide tax or legal advice. Nothing in this article is intended to be investment, tax, or legal advice. Information in this article is gathered from sources considered reliable, but we cannot guarantee their accuracy. Past performance is no guarantee of future returns.
