Siding and Window Replacement

According to Remodeling magazine, both projects rank among the highest in terms of "cost recouped".

These projects will run you anywhere from $10,000 to $20,000. A small investment when you consider the return you will get.  New siding and windows are major in terms of curb appeal and energy efficiency and make your home much easier to maintain — a selling point with both the current homeowner and potential buyers. 

Energy Efficiency

Anything having to do with efficiency and "going green" is high on the renovation list.  This can include projects such as insulating, caulking, replacing windows or doors or adding more energy-efficient skylights.  You can even go as far as installing low-flow toilets and faucets, high-efficiency furnaces and hot water heaters.

Deck Additions

Another winner in return on investment, according to Remodeling magazine, is the addition of a deck. With more people staying home to save money this not only gives you a place to relax or entertain, but it also gives you a great return on investment.  It's more living space to enjoy.

Decorative Updates

It's important to keep your house fresh, updated and in style.  Even little things like replacing carpeting or flooring or painting a room or two.  Any project that will spruce up the look of your home is worthwhile.

The "Wow" Factor

If you want to go beyond the simple cosmetic changes, look to higher end improvements.  Adding crown molding to a room, replacing traditional curtains with something more stylish, or doing a little decorative painting will make your guests say "wow".

Kitchen Remodeling

Kitchens — the center of the home — are always high on a buyer's list.  If you're limited in what you can do then consider investing in the kitchen (or bathroom) area first. 

Minor kitchen remodels include upgrading countertops, installing spiffier faucets, replacing appliances, or refacing cabinets that are still in good shape.  Those who have a bigger budget might consider incorporating better lighting and at least one luxury appliance.

Bathroom Remodeling

Like the kitchen, a house with good bathrooms is more sought-after with buyers.  While the high-end bathroom might be a little out of reach for many right now, there are plenty of smaller changes to be made that are worth the investment.  Look into a small soaking tub or body spray shower.  Invest in better quality tiles or stone for the shower area.

Making a Change in Existing Space

Would you love to add on to your home, but it's just not in the budget?  Try using existing space to create a new room.  Consider turning an underused dining room into a study, library or in-law area.  Make better use of the entrance way between the garage and the house.  That big closet that really needs an overhaul can become a small office.

Electric Radiant Heat

Electric radiant heat is similar to a roll-out mat that is put underneath the flooring.  It requires little space under a tile, hardwood, ceramic or stone floor (and even can be put under carpeting). It runs on its own thermostat and costs relatively little to operate.  It may sound like a luxury, but if you're already looking to replace flooring then it's certainly worth looking into.

No matter whether you're making big or small changes, it's worth the investment both as a homeowner and a seller.