The experts would tell you to renovate your home and add a few "extras" before putting it on the market, in hopes of increasing its value. The same is not the case today as we're in a different climate. There are times you may have to repair and possibly renovate an area of your home to make it more attractive to a buyer; however, you should tread cautiously when doing so.

A common mistake that many homeowners make when trying to sell their homes is adding the cost of remodeling to the sales price. This is risky because in the current market, there is no certainty you will be able to recover the money you invest in the renovation from the buyer.

Before you begin making improvements to your home to increase its value, it may be a good idea to seek professional advice. This can help you decide where you should spend your money to get the most out of your investment.