Unless happy with the present performance of that 2008 (when working) and wishing no more, then no, it is time for a new laptop.
Unless having someone else install it, a new hard drive should generally cost well less of $300. A 256GB SSD might be had in the range of $200.
And, if refurbished, watch what you buy with that $1,000. Apple will presently well you a MacBook Pro 2.4GHz, i5, for $929. Which may seem more the deal than $1,019 for another at 2.5GHz, i5. But it is not the small difference in processor speed, but that for slightly over one thousand one receives the Intel HD Graphics 4000, versus the 3,000. Therein lies a big difference, and a good reason not to consider anything less. You could currently even spend more money, at $1,149, for 2.8GHz with i7and still no good deal, as still with the Intel HD Graphics 3,000. If in doubt about the performance differences of these respective GPUs, do a little research on this forum.
BTW, that MacBook Pro for $1,019 is a relatively good value, and all the more capable if later outfitted with a SSD and more RAM. Only it is not a retina, and if you care about that then a refurbished retinawhen offered and availablecan come in at roughly the same price as a cMBP outfitted with a SSD.