A. Well there are two areas in that question that need different approaches. If there is a major defect, such as major foundation settling that is causing major cracks, I’d say get that fixed or be prepared to make a major concession on price. There are several companies that can give you an estimate for any and all repairs that your house may need. Even if you decide not to replace the roof or make those other repairs, it is important that you know what the costs of those jobs would be, so that you have a firm negotiating position for any price concessions that you may have to make.

If the “major” things are really issues of aesthetics, such as an ugly tile in the bathroom or kitchen or really bad wallpaper on the walls of a bedroom don’t do anything.  I’d advise that you only fix those things that can be done cheaply and mostly with “sweat equity” (such as re-painting a room). The other items that might fall under aesthetics may cause the buyers to factor in the cost to have them fixed, so you should have some idea what they may cost, but don’t worry about them yourself. Most buyers will come with a list of things that they want to change and that is really their issue, not yours.

Certainly don’t put major money into things like a new kitchen or bath if you are planning to sell. You will not get your money back. It is a common mistake that most homeowners make that they start “adding on” the costs of the improvements that they’ve made over the last few years to what they thing they can get for the house. It’s not going to happen. Deal with it! Hopefully you made those improvements for your own enjoyment and you had some time to enjoy them. Get over it and move on.

To get a better idea of the potential costs, visit the Home Remodeling Page. For possible paybacks from your proposed investments, see this page on improvement paybacks.