In an era where social media thrives on the flashy and the new, Cheap Old Houses has constructed an empire by celebrating the forgotten and the past. What started as a passion project for Elizabeth and Ethan Finkelstein became a massive digital brand, reshaping how people see historic preservation while proving that niche markets can dominate social media.
The appeal of old homes runs deep — there’s something special about original woodwork, intricate staircases, and the undeniable charm of a structure with history.
The Rise of Cheap Old Houses
Launched in 2016 as an Instagram account, @cheapoldhouses quickly gained traction by featuring historic homes under $100,000. The premise was simple: showcase affordable homes that needed love but had undeniable charm. Unlike traditional real estate accounts, the Finkelsteins didn’t focus on high-end properties or move-in-ready homes.
Instead, they leaned into the raw potential of these aging structures, encouraging followers to dream of restoring history instead of demolishing it. Sure, some may have looked rough around the edges, but people saw the heart in these homes and imagined what they could become.
With millions of followers across Instagram, TikTok, and Facebook, Cheap Old Houses has become more than a feed — it’s a movement. It taps into nostalgia, sustainability, and the universal desire for homeownership, even when the market feels out of reach for many.
We talked with Ethan about what it’s like to be your own boss and have millions of people engage with your work, not just as fans but as potential buyers.
A 2024 survey by Ingage found that 82% of millennials were willing to buy a fixer-upper requiring significant repairs, highlighting a strong interest in home renovation. However, this enthusiasm is waning. A 2024 survey by Real Estate Witch found that the number had dropped to 67%, a 15% decrease in just two years.
The shift suggests growing hesitation among millennials, possibly due to rising renovation costs, economic uncertainty, or past experiences with homes that needed more work than expected. But even that stat doesn’t affect Cheap Old Houses’ momentum. Their listings are carefully selected, attracting buyers excited about restoration and willing to go against market trends.
Ethan is honest about what the investment of buying an older house entails. “Everyone will tell you it’s the dumbest idea ever. But it’s one of the most rewarding, like raising a kid. The love you put into it is what makes it worthwhile.”
The Business Behind the Brand
What makes Cheap Old Houses so powerful is its monetization model. Beyond their wildly popular social media accounts, the Finkelsteins have built a subscription service, offering exclusive property listings to paying members.
They also leverage partnerships, brand collaborations, and advertising, making their digital presence influential and profitable. “We were probably one of the first faceless Instagrams, definitely the first real estate-focused one. We flipped the business model on its head by creating a subscription service instead of just relying on real estate agents paying us,” Finkelstein said.
Getting to the point of monetization wasn’t an overnight success. For three years, they worked without making a profit, building an audience and refining their vision. “Then we created a secret Instagram page where people paid $2 to see more content. That was the lightbulb moment — people really valued what we were doing.”
A breakthrough moment came when New York Magazine profiled buyers who had purchased homes based solely on their Instagram listings, proving the platform’s real-world impact. “New York Magazine wrote an article profiling people who bought houses off our Instagram — people we didn’t even know. That was the holy shit moment. We were impacting lives.”
With that growth came the realization that Cheap Old Houses couldn’t rely on a single platform. To stay relevant, they had to expand beyond Instagram. “Instagram used to be an image-driven platform — now it’s all video. That shift has made things harder for us, but we’ve adapted by expanding into newsletters, TV, and books.”
In 2021, their influence went mainstream with an HGTV show, “Cheap Old Houses.” The series expanded their reach beyond digital audiences, reinforcing their status as the go-to brand for lovers of historic homes. The show takes viewers inside the homes they feature, adding a narrative depth to what was once just an Instagram scroll.
“People think having a TV show means you’ve made it. But honestly, our newsletter and Instagram community sustain our business. The TV show is just a great advertisement.”
Why Cheap Old Houses Works on Social Media
Their success isn’t accidental. The brand thrives because it taps into several key social media trends:
- Aesthetics and Nostalgia: The rustic beauty of peeling wallpaper and original woodwork sparks emotion and engagement.
- Authenticity Over Perfection: Unlike traditional real estate marketing, Cheap Old Houses leans into imperfection, making each post feel real and attainable.
- Community Engagement: Followers actively share their own renovation stories, creating a participatory culture that fuels engagement.
- Hope in a Tough Market: When housing affordability is a crisis, these listings offer a glimmer of possibility, resonating deeply with younger audiences.
The Future of Cheap Old Houses
Cheap Old Houses has redefined what a social media brand can be. It’s not just sharing content; it’s shaping a movement. Their success shows that passionate storytelling and niche focus can turn an Instagram page into a full-fledged business empire.
As they continue expanding, one thing remains clear: the world has fallen in love with forgotten homes, and Cheap Old Houses isn’t slowing down anytime soon.
But at least they haven’t seen any ghosts (…yet 👻).
