Upgrade Computer Specs. or Buy New?

So it's been four years since I last bought my computer and well, I think it's about time to upgrade or start fresh. So what is better, upgrading or starting fresh.
Here is what I have so far...I don't really know what I have since I'm not that good with computers and such.

https://i.imgur.com/pYoo9.jpg

https://i.imgur.com/5c6j9.jpg

If I CAN upgrade, what kind of things should I buy? It has to be a bit under what the processors cost so I'm guessing lower than $500.

I wouldn't try upgrading specs on a OEM computer. If you want to be able to upgrade later, then I would make your own computer

Starting fresh. Build a computer.

Start fresh /gewd boh1