Fix To Sell

So the kids are grown and it's time to downsize. Or maybe that dream job has come through – 3,00 miles away. You've got to put the house on the market, but what if it's not market – ready? Clearly, any major problems, like a leaky roof or a sunken sidewalk, will need your attention. But even the minor imperfections that you've been tolerating can be big turnoffs to prospective buyers. After all, location may be king, but curb appeal isn't far behind when it comes to getting that contract signed.

"People ask me all the time what they can do to improve the value of their homes," says Tom Turner, a veteran realtor with RE/MAX in Spring Park, Minnesota. "Generally, the best dollar cost return on investment is soap and water. Cleaning heel marks off the floor, getting carpets cleaned, washing walls, or putting on a fresh coat of paint. That's probably the number one thing you can do."

Minimizing clutter is also an inexpensive way to enhance the appeal of your home. And depersonalizing your space (clearing away family photos and removing that soccer schedule from the fridge) can also help a potential buyer envision the property as theirs rather than yours.

Of course, it the wear and tear on your residence is more than cosmetic, you may need to consider a more substantial investment. And yet, while that Harvest Gold refrigerator may have to go, that doesn't mean you need to replace it with a Sub-Zero. For most home buyers, the appearance of an appliance is more important than its mechanical bells and whistles, suggests Turner. "I've been doing this for 22 years and I find that a lot of the technical stuff that manufacturers push isn't that important to the consumer. They expect windows to be tight and not to leak. They expect furnaces to work. But I don't think anyone is going to get one dime more for their house if they have 98 percent efficien furnace or a standard 80 to 85 percent efficient furnace. I've never seen that make a difference."

As for more costly renovations, Turner also urges caution. While one cannot expect a good price for a decrepit property, homeowners who pump too much money into repairs won't necessarily realize a solid return on that investment either. "It all depends on how bad the item is you're replacing," says Turner. "In other words, if you have siding that is OK, but you put on new siding that costs you $35,000, it's not going to increase your property by 35 grand. Now, if your siding is falling off and you replace it, then yes, you're talking about probably getting a reasonable return on your investment."

"You've got to paint the picture for the consumer," says Turner. "Homeowners say, ‘well, we'll just give them a $10,000 carpet allowance.' That doesn't work. The consumer cannot see what can be." And that goes for brokers sometimes, too. "Just because they have a license," laughs Turner, "doesn't mean they're insightful."