Interestingly, less is sometimes more when it comes to remodeling. Because they're less expensive, minor bath or kitchen upgrades generally yield a better ROI than major renovations.

Adding a deck: "Livable space" has come to include the great outdoors, and adding a deck (particularly in the West) has become a popular home improvement. According to the National Association of Home Builders in 2007, 31% of home builders reported an increase in outdoor remodeling work compared to the previous year, and the most common type of outdoor remodeling job was adding deck.

In the kitchen: Adding functionality with dual sinks and cooking stations is worthwhile. so are cosmetic improvements like marble or granite countertops and ceramic tile backsplashes. Even if all you do is replace the appliances with stainless steel one, you'll make a positive impression on potential home buyers.

In the bathroom: Jacuzzis, tile floors, a second sink basin, skylights, walk-in showers, glass block windows and attractive countertops are all valuable improvements. Even new plumbing fixtures can make a big difference.

New siding: Like they say, you never get a second chance to make a first impression, and siding is one of the first things potential buyers see. According to the Cost vs. Value Report by Remodeling magazine and REALTOR™ Magazine, replacing your vinyl siding is the least expensive way to add value and increase the selling price of your home.