Along with location and condition, the pricing of a house is a major component of the reasons why a house will--or will not--sell quickly. Although the pricing should not be dealt with lightly, some sellers have a tendency to put too much emphasis on the price and not enough on the condition, ending up with a house that is overpriced for its current condition and the overall market. Even if you find an unaware buyer that appears willing to pay the high price, when the buyer applies for a mortgage, the chances are good that the lender's appraisal will force the price back down to market value.

Care and time should be taken when establishing the original listing price for several reasons:

If the house is overpriced, it won't sell. If it doesn't sell and sits on the market the listing quickly becomes stale. If you overprice the house with the intention of reducing the price later just to "see what the market will bear", when the price of the house is lowered, it signals to buyers that it was (and still may be) overpriced. If the house is under priced, it most likely will sell quickly--to the detriment of your net proceeds.

Desirable amenities: If a house has amenities that are currently popular in the marketplace, it will bring a higher price.

Nothing turns off a potential buyer faster than peeling paint, a broken window, or a splintered front step. It's wise to make necessary repairs before you put your house on the market. A house in good condition demonstrates pride of ownership—one of your best sales tools. Start by covering these areas:

Maintaining your house is easiest when you approach it season by season. But what if you discover that you have several major repair projects competing for your attention? In most cases, your budget will dictate which projects to tackle first, but it's also important to ask yourself the following:

Repairs that prevent water from leaking into the house are more important than cosmetic projects (such as filling a hole in an interior wall). Replacing a roof or sealing cracks in the foundation are projects that should be completed immediately.

Ensure the safety of family and visitors is as important as keeping your home dry. Keep steps in good condition, replace broken boards on porches or decks, fix electrical outlets, and set your hot water heater to the right temperature (120ºF is usually hot enough).

Plumbing, electrical and heating systems are critical to your home's operation and your comfort. Make these repairs as soon as possible. Hire a professional to make major repairs such as replacing faulty pipes, fixing circuit breakers, or installing a new thermostat.

Repairs that improve insulation include tightening loose window frames, caulking around doorways, and patching holes in walls. The sooner these repairs are made, the faster you can lower your heating and air-conditioning costs.

Cosmetic repairs range from patching holes in the wall to replacing an old light fixture. They are ideal winter projects, but can be performed at any time.

Compiled from several published surveys:

Recouping your remodelling investment may be your goal when you sell your house. But when it comes to resale value, all home improvements are not created equal. As a rule, kitchen remodelling projects and bathroom additions almost always pay back 90 percent or more of their costs. However, finishing a basement usually pays back less than 50 percent. Other improvements fall somewhere in between.

Project	Cost	Average Payback
Add a new heating or air conditioning system	$2,000 to $4,500	100% for heating; 75% for air conditioning
Minor kitchen remodeling	$2,000 to $8,500	94% to 102%
Major kitchen remodeling	$9,000 to $25,000	90%
Add bathroom	$5,000 to $12,000	92%
Add a family room	$30,000	86%
Remodel bathroom	$8,500	77%
Add a fireplace	$1,500 to $3,000	75%
Build a deck	$6,000	73%
Remodel home office	$8,000	69%
Replace windows	$6,000	68% to 74%
Build a pool	$10,000 and up	44%
Install or upgrade landscaping	$1,500 to $15,000	30% to 60%
Finish basement	$3,000 to $7,000	15%

Payback value depends heavily on the real estate market and prevailing property values. If the market is slow, expect to see less payback than you would in a fast market. Also, consider the neighborhood: If you remodel your house to twice the size of the other homes on the block, it is unlikely that you will be able to sell at double the price. Issues that can influence payback value include:

Kitchen and bathroom remodeling projects consistently return the most in resale value and almost always help sell a house. Converting a basement into a family room yields the smallest return on the investment.

Projects can be large or small. Sometimes, the cumulative effect of small projects can pay back more in resale value than that of larger projects. Small projects tend to be cosmetic in nature: fresh paint, new doors, garden windows, and ceiling fans. Large improvements involve adding or upgrading living space.

Today's fad may be tomorrow's standard. Backyard decks, for example, were difficult to find 30 years ago; now they are common. Decks may not have paid back very much in resale value decades ago, but as decks have become more desirable, their resale value has increased.

The price of home improvements fluctuates depending on economic conditions and region. If remodeling costs are particularly high in your area (or home sale prices particularly low), you may not recoup as much on your investment as you would if costs were in sync with sales prices.

TIP: If you are financing your home improvements, the best time to apply for a loan is when interest rates are low. The less you pay to borrow money for the job, the less the total cost of the renovations.

After you've made basic repairs. The task of selling your home boils down to making the house as clean, clutter-free, and inviting as possible. Nows the time to make cosmetic improvements: Paint a dingy room, rearrange furniture, hang up artwork, or freshen your front entrance with flowers.

Make sure you have plenty of brochures available to set out on the entry table or on the kitchen counter. The hard part will be keeping up appearances as long as your house is for sale. Go through this checklist at least every other day to make sure that your home is tidy.

Front Entrance Clean doors and windows Sweep sidewalk Polish doorknob Shake out doormat Water container flowers (replace if necessary) Clean doors and windows Keep the lawn and landscaping trimmed Entryway Clean doors and windows Mop floor, shake out rug, vacuum carpeting Water container flowers or plants Dust shelves or entry table Tidy up closet Living Room, Family Room Stow away newspapers, magazines, books, games, toys, and videos Straighten out coffee table, bookshelves, and other areas Mop floor or vacuum rugs Vacuum upholstered furniture; wipe down leather or vinyl Dust surfaces (including TV screen) Sweep fireplace Wipe down ceiling fan blades Water houseplants Kitchen Mop or vacuum floor Clean appliances Wipe countertops, cabinets Clean sink Stow away kitchen sponge and dish towels Open windows or run fan to remove cooking odours

Bathrooms Wipe wet shower stalls and bathtubs Mop floors Put out fresh towels Empty wastebaskets Clean sinks, mirrors and faucets Stow away laundry Bedrooms Make beds Mop floors or vacuum rugs Stow away shoes, laundry, clothes, books or toys Open curtains or shades Tidy up closet Home Office Straighten out desk and bookshelves Stow away files Mop floor or vacuum rugs Dust surfaces, including computer screen Polish cabinets and woodwork Basement Clear clutter blocking access to furnace, electrical box or laundry room Sweep stairs