Going on Aliyah social security

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Forum -> Inquiries & Offers -> Israel related Inquiries & Aliyah Questions

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amother

Brown

Sun, Aug 23 2015, 6:22 pm

We are looking into retiring in Israel. Our social security is about $5500 per month.
Will that be enough to live on comfortably. I hope we will be able to sell our home and buy something comparable so we will not have a mortgage ?

This will be in about three or four years but just looking to see what we can do
Thanks

FranticFrummie

Sun, Aug 23 2015, 6:31 pm

It depends entirely on where you want to live, how big a place you want, and what the Israeli economy is doing at the time. In my experience, you can do all the research you want, but the only info that is useful will be within a year of you actually being ready to move. Otherwise, things change way too fast.

Right now real estate is at an all time high. Some market experts are saying that there's no way it could go down, and others are saying that the bubble cannot be sustained long term. Again, location, location, location. Areas near major employment centers or universities will always be more expensive that little out of the way villages with no tourist attractions. You can get a tiny apartment with a stunning view, or a much larger apartment 5 blocks away, with a view of the street.

Also, a war might start, or Moshiach could come, or all of the above. Enjoy "window shopping" and calculating your cost of living, but don't expect it to be a realistic figure until you're ready to pack your boxes.

amother

Brown

Sun, Aug 23 2015, 7:05 pm

Thanks By the way your Aliyah story is what is pushing me to look seriously ( as well as sanguine posts)
How much is a three bedroom in naharyia?
I would love to live in Jerusalem but don't think that is possible financially?
How did you decide on which communities to look into?
Thanks in advance for everyone help

amother

Brown

Sun, Aug 23 2015, 10:58 pm

Bumping up for all Israeli imamother

hila

Mon, Aug 24 2015, 12:38 am

A three roomed apartment in the cheapest area in Jerusalem is about 1.2M shekels
However in other smaller towns it is a lot less. (Beersheva, Naharia, Kiryat Shmona, and the Gush)

Your SS seems to be a nice amount to live on for two people. That is assuming you will not be having vacations in hotels ever other week, or flying to the US often.

Feel free to ask more questions.

chanchy123

Mon, Aug 24 2015, 2:43 am

Really depends on where you would want to live and your budget. Do you have family in Israel? Would you prefer to live near family? Anyhow 5k $ is a nice monthly budget. You should do fine.

grace413

Mon, Aug 24 2015, 7:38 am

Assuming you can buy an apartment without a mortgage, you should be fine.

amother

Brown

Tue, Aug 25 2015, 6:10 am

Thank you all
How do you pick a community. I speak rather fluent Americanized accented Hebrew. My dh understands but needs to learn better Hebrew. We are MO my dh davens three times a day preferably with a minyan I don't wear socks and cover my hair with a hat and hair sticking out. ( but I really love those small mitoachot the young girls are wearing but think they look silly on me ) I don't mind a diverse community
In my retirement would love to volunteer to help,others while still enjoying chugim like pottery , yoga , maybe singing and rikudei am.
I need to live near good medical doctors.
I have arthritis and prefer to live in a non humid part of the country
Hopefully will be able to buy something for 400,000 , about a million shekel
Any ideas of where yo start looking !
Thank you all for your help

grace413

Tue, Aug 25 2015, 8:00 am

$400,000 is closer to 1.4 million shekel.

How large an apartment do you want? What you can afford apartment wise will have a lot to do with how you live.

You can check out www.yad2.co.il (Hebrew) to see apartment prices for various locations and sizes.

We have everything you mentioned here in Maale Adumim, including no humidty. Jerusalem s wonderful of course, if you can afford an apartment there.

Don't hold your breath waiting for prices to go down.

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