The Cuban content creator and entrepreneur, Lorena Rosa, took to Instagram to disclose the exact price of her first property purchase in New Jersey—a house originally built in 1900.
She shared that she and her husband finalized the contract less than a month ago. Initial reactions to her video showcasing the home included various speculations about its cost. One viewer guessed the house might be worth around $70,000, a figure far below its actual market value in that city.
In a recent Instagram video, Lorena clarified that the property was listed at $549,000. She and her partner had set a budget cap of $580,000. They closed the deal at $540,000, but she warned that the real financial commitment would be much higher once renovations begin.
"Before we have it ready, we're going to need to invest time, effort, and money in repairing everything and rebuilding what needs to be done from scratch," Lorena admitted in her video.
The house, now 126 years old, presents both challenges and advantages. According to Lorena, the garage is "honestly useless," the doors and windows are quite old, and the main bathroom was "recently renovated with poor taste and a low budget, but renovated nonetheless."
On the upside, the kitchen is in good condition, and the basement is equipped with flooring, electricity, and plumbing. The aspect of the house that captivated her was the abundance of natural light. The decisive factor for signing was its location in a neighborhood ideal for raising children.
Key factors in their home search included a yard, ample parking, and decently sized bedrooms. The house met all these criteria: it offers parking for up to three cars and rooms larger than most other properties they considered.
"If there's one thing that's really hard to find here in New Jersey, it's large bedrooms. All the rooms are too small," she explained.
Lorena also contextualized the price for her followers: had the same property been located near the Hudson River with views of New York, "it would have cost over a million dollars." Its position about 20 minutes inland significantly reduces its price.
The New Jersey real estate market is among the most competitive in the United States. According to Redfin data from July 2026, the median sale price in the state was around $602,831, showing a year-over-year increase of 7.6%, which places Lorena's purchase below this benchmark.
For those who imagined $70,000 could buy anything in this market, Lorena was clear: "Ladies, $70,000 here doesn't even get you the smell of the key, let alone the key itself."
The milestone of purchasing a first home is widely documented among the Cuban community in the United States. In recent months, other Cuban individuals have shared similar experiences on digital platforms, from Miami to various northeastern cities, illustrating the economic integration process of the diaspora.
Lorena announced that her account will focus on documenting the transformation of the property: "What's coming in terms of content is a marathon," she promised her followers. Would you buy a 126-year-old house to renovate, or do you prefer a move-in-ready modern apartment?
FAQs About Buying Historic Homes in New Jersey
Why did Lorena Rosa choose a 126-year-old house?
Lorena Rosa was captivated by the house's natural light and its location in a family-friendly neighborhood, despite its age and need for renovations.
What was the final purchase price of the house?
The final purchase price was $540,000, slightly below the listing price of $549,000.
How does the New Jersey real estate market compare to other areas?
New Jersey's real estate market is highly competitive, with a median sale price reaching $602,831 as of July 2026, making it one of the more expensive markets in the U.S.