FrontDoor's Home Finance and Home Value Guide

First things first: Before putting your home on the market, make sure everything is in working order.

Most homeowners have a room or two they'd like to overhaul, and when you're looking to sell, those must-do projects seem even more important. But while a major renovation might boost your home's value, does anyone really have the bottomless bank account to fund those big projects? The average staging budget is only 1 percent to 3 percent of your home's value -- hardly enough to finance those handmade hickory cabinets for your kitchen or marble mantle for your fireplace.

"If you're getting ready to sell in the next few months, major renovations are probably not going to pay off," says staging expert Lori Matzke, owner of CenterStageHome.com. According to a report from Remodeling magazine, even a swanky $50,000 kitchen remodel will only earn back about 80 percent of its cost when you sell. A smarter bet? Stick to inexpensive upgrades that can make a huge difference in your home's saleability. These simple projects will get you the most bang for your buck.

Fix what's broken.
Got a broken heater? A cracked ceiling? A torn screen door? Put your money into these overdue repairs before you start worrying about cosmetic improvements. "A rule of thumb is, if it's there and in disrepair, you need to fix it," Matzke says. "Buyers are looking for a house that's in working condition." If they see a leaky faucet, they'll wonder what else needs to be fixed. A few minor repairs can eliminate those red flags.

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