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I am not ready to spend over $500 on a microscope right now. I was looking at one for $200. For board level repairs, rebelling ic chips, what magnification power does my microscope need to have at the minimum . The microscope I was looking at goes up to 20x. Is that enough or do I need something more powerful.

I think this article has some useful tips, Tips on How to micro Solder on a budget

The AmScope SM-4NTP is a popular model within the repair community. These are good quality scopes at affordable prices. You can also look on Craigslist/Kijiji/FB Market to see if anyone is selling a used scope locally.