Bergen County New Jersey Market

[Amul Sutaria]

HI BP!

My parents are selling their house in Paramus that they have lived in for 35 years.  I want to sell it and get the best price, but I need help on knowing what things to renovate (its very outdated) to get the best price. 

I need someone who knows the Paramus/bergen county market really well and can guide me what to do.  Thanks! 

[Jonathan Greene]

You aren't thinking correctly about what the largest return is. The largest return on a home owned for 30+ years by the same owner isn't always the highest sale price. To get the highest sale price, you will have to put IN a lot of money, which you just stated you don't have. So if you use HML at 12% with no experience and 2 points and it takes you 3-6 months to renovate and due to lack of experience, it doesn't get you what you want or you decide to do something crazy and rebuild, you are just causing more problems for yourself. If you've never flipped a house, you don't want to start, without the money and experience to do it, on this type of house. Instead of doing all that, you could sell to not just investors, but people looking to move for their family, but also do work. There is no shortcut to market price and you are really solving your own problem by not doing it instead of incurring HM debt to do something you have never done.