‘Cheap Old Houses’ speaks to people who feel ‘left out of the conversation when it comes to housing.’
As home prices stay high and rising mortgage rates shrink how much house buyers can afford, some have turned to the idea of buying cheaper, older fixer-uppers. The Instagram account Cheap Old Houses helps people indulge in this fantasy, posting listings for older homes that are relative steals at a time when the median monthly mortgage payment is nearly $3,000.
As former New Yorkers, the Finkelsteins know the struggle all too well. “Every single one of our 10 years we were together , we never had a place over 600 square feet,” Ethan Finkelstein said. They were constantly hunting for their next place to live, so they eventually moved north. “Cheap Old Houses: An Unconventional Guide to Loving and Restoring a Forgotten Home” attempts to inspire people who are considering purchasing an older property that might need some TLC. The Finkelsteins are also hosting a forthcoming show on HGTV called “Who’s Afraid of a Cheap Old House?”
Elizabeth had at the time been running an online real-estate marketplace and had a background in historic preservation. She developed the idea of creating an Instagram account that would be a place to put listings of old, historical homes that were fixer-uppers. “And honestly, I didn’t ever think that we would have a successful profitable business,” Elizabeth Finkelstein added. But the Cheap Old Houses brand has definitely struck a chord, especially with viewers who want a break from reality. Particularly with the Cheap Old Houses Abroad newsletter, “people constantly write to us and they’re like, ‘Oh my god, this is like the catharsis I need during my work,’” she said.
Ultimately, their ability to surface these old homes to their audience has attracted a large following because it shows it’s possible to live the dream of lovingly restoring and building your own, beautiful, historic home, the Finkelsteins said.
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