Couple bought a 140-year-old home for $550,000 and spent $172,000 renovating it
A couple purchased a 140-year-old home in Atlantic Highlands, New Jersey for $550,000 and have spent approximately $175,000 on renovations. They walk through the home's key spaces, highlighting restoration efforts and structural changes. The video also covers their financing details, including a 15% down payment and a 7.125% mortgage rate.
Summary
The couple provides a tour of their 140-year-old home in Atlantic Highlands, New Jersey, which they purchased for $550,000. Starting in the living room, which they describe as the space they use most, they emphasize their desire to preserve the home's original charm, including keeping trim that matches the original detailing.
Moving through the dining room, they note that much of the furniture was left behind by previous owners. The kitchen is identified as a space that still needs updating, though the owners are intentional about not modernizing it too much — they want to retain the character of an older home. A small room off the kitchen, previously used for storage, is also mentioned as part of the renovation scope.
On the second floor, the couple undertook significant structural work, taking the space down to the studs. Four originally small bedrooms were reconfigured by removing walls to create a larger master bedroom. The third floor serves as a home office with ocean views.
Regarding finances, the couple put down $82,500 (15%) on a 30-year fixed-rate mortgage at 7.125% interest, resulting in a monthly payment of just under $4,000. They describe the interest rate as a tough pill to swallow but felt compelled to close on the property. Renovation costs have reached approximately $175,000, funded through a combination of personal savings, a 401K loan, equity from a former employer, ongoing personal income, and the flexibility of contractors willing to work with their financial timeline.
Key Insights
- The owner explicitly wants to avoid making the kitchen feel modern, stating a preference for preserving the charm of an older home rather than updating it with a contemporary aesthetic.
- The entire second floor was taken down to the studs, and four originally tiny bedrooms were reconfigured into a larger master bedroom by removing walls.
- The couple secured a 30-year fixed-rate mortgage at 7.125% interest with a 15% down payment of $82,500, resulting in a monthly mortgage payment of just under $4,000.
- The owners describe the 7.125% interest rate as 'a tough pill to swallow' but felt the need to close on the home outweighed the unfavorable rate.
- The $175,000 in renovation costs was financed through a diverse mix of sources including personal savings, a 401K loan, equity from a former employer, personal income over time, and flexible payment arrangements with contractors.
Topics
Transcript
[0:00] Welcome to our home in Atlantic Highlands, New Jersey. So, this is the living room. I would say we spend most of our time in this room. I wanted to make sure that the trim looked like the original. Here we have our dining room table. We eat every meal here. A lot of the furniture that you see in this room was left by previous owners. So, this room definitely needs some updating. I don't want to make it feel like [music] a modern kitchen. I definitely want to keep the charm of like an older home. This is a room right off the kitchen. When we first moved in, [0:30] I think it was just being used…
Full transcript available for MurmurCast members
Sign Up to AccessMore from CNBC Make It
Why the job market is especially tough for recent grads
Recent college graduates face a challenging job market with unemployment at 9.7% as of September 2025, matching the rate for high school diploma holders. Companies over-hired during the post-pandemic economy and are now reluctant to fill entry-level positions, creating a frozen labor market that prevents new graduates from securing their first jobs and advancing their careers.
What does it mean to 'date with intention?'
Dating apps have trained people to focus on what's wrong with potential partners, but intentional dating requires shifting perspective to gather real data over time. True compatibility is better assessed through how you feel sustained over time rather than initial chemistry, which often reflects familiar patterns rather than healthy connections.
How A 110-Year-Old NYC Business Achieved The American Dream
M&S Malberg Flowers is a 110-year-old fourth-generation family business in NYC's Garment District founded in 1916 by Polish immigrant brothers. The company manufactures custom fabric flowers for major clients like The Gilded Age, Bridgerton, and Vera Wang, and has survived through family dedication despite losing everything during the Holocaust, exemplifying the American dream of hard work leading to a good life.
I live alone in Japan — I could never 'afford something like this' in the U.S.
An American expat living in Japan contrasts her stressful budget-tracking lifestyle in California with her more relaxed approach to spending in Japan. She highlights the affordability of everyday food, particularly through Japan's convenience store culture. A 7-Eleven haul including an onigiri, protein shake, chocolate bread, and Pocari Sweat cost her only $5.95.
Here's how and why I started my $4M/year halal burger business
A Muslim immigrant from Gujarat, India, shares how he left a $300,000/year IT career to start Cousins Burger, a halal burger business. After a successful debut at a food festival selling out food for 500 people, he built what became a $4M/year business. The launch was a true family affair, with his mother, wife, and daughter all playing roles.