Of course, as with any project, there are potential pitfalls. These can range from going over budget to unexpected delays, which can lead to the improvement taking far longer than expected. Sometimes home improvements can even create a need for more upgrades.

There's also the mistake of making so many improvements to your home that you end up "overbuilt" and priced out of your neighborhood. With home price appreciation starting to return to a more typical pace, this is becoming more and more important to keep in mind.

That said, there's lots of good news as well! There are many improvements you can potentially make to your home, without spending a lot of time or money, which could result in an increase of its value.

Regardless of whether you're looking to sell or just testing the market, raising the value of your home and making it more "sellable" is a very good thing. YOU Magazine sat down with Terry Moerler, an agent with Aviara Real Estate in Thousand Oaks and a 26-year veteran of the trade, to talk about some quick and inexpensive home improvements.

Ms. Moerler is an expert on the subject of increasing a home's value as well as making it more attractive to a potential buyer. Moerler believes in taking a proactive approach to this process. She frequently sends postcards to her clients, reminding them of yearly maintenance and pointing out the hottest upgrades.

"Curb appeal is huge", claims Moerler, as it's the first thing a buyer will notice. They'll often make a decision based upon that alone. She recommends hiring a gardener, at least to get things started. Once the lawn and surrounding area receive an initial once over, sustaining a "manicure" is somewhat easy.

Other tips to increase curb appeal include placing potted plants on the front steps, having a pristine front door and a new garage door. Moerler asserts that a new garage door may actually be one of the best upgrades to a home, in terms of bang for your buck. Having your home's exterior painted is another good investment, but it should only be done if it's necessary. If the time has come for a "fresh coat", outside or inside, try to stick with lighter colors. They're typically more inviting, if not more ubiquitous in terms of taste.

Moving on to the inside of the house, Moerler ranks cleanliness as number one on her list. She says that before she ever lists a home, she has it professionally cleaned. She also recommends keeping clutter to a minimum throughout the year. This suggestion extends to decorating, as well. By taking a minimalistic approach to your home's decor, your home will appear larger. "The bigger the furnishings, the more your eyes are drawn away from the home, itself," she adds. One last suggestion with regard to cleanliness, keep your windows spotless. They provide the only view to the outside.

Moerler says there are many inexpensive improvements and upgrades you can make to your home that will go a long way. The removal of any "cottage cheese" or "popcorn ceilings" is a good place to start. They may be the buyer's the first sign that the home is outdated. Did you know that recessed lighting with dimmer switches not only provides mood, it also creates a higher selling price? Moerler claims that surround sound systems, with speakers mounted on the ceiling and walls, are another money-making improvement. Replacement windows are also worthwhile. This is largely due to their drop in price as a result of improvements in the installation process. Moerler says, "While you're at it, you may want to think about adding interior trim to those new windows."

If you're considering bigger improvements to your home, Moerler has two words for you: bathrooms and kitchen. In terms of your home's value, they are an absolute home run. Cabinet facings, new fixtures and appliances are some of the less expensive improvements you can make to these rooms. If you're thinking about new counter tops, consider granite. The price of granite has come down and, according to Moerler, it's quickly becoming a standard.

One last suggestion for your "To Do" list: get a termite inspection and make any suggested repairs. This is just one more thing you can do to establish that your home is in great condition.

We asked Moerler if she had any absolute "Don'ts", and she suggested a few. At the top of her list was putting a pool in a backyard that is too small to accommodate it. She says if you feel the need for water, opt for a Jacuzzi instead. A close second on the "Don't list" is putting in a very expensive roof in a not-so-expensive neighborhood, or vice versa. Moerler says it's one of those upgrades you can't take back. And, whatever you do, stay away from overbuilding. For those unfamiliar with the term, overbuilding is when the improvements made to a home don't translate into a raise in the home's value, largely due to the neighborhood's price range.

Moerler's last piece of advice is to take a look at real estate ads for homes in your neighborhood. Notice how they're listed and what features get the most attention. She says this information serves as a good barometer for what people are seeking in your area. Remember, the value of anything is mostly determined by what people are willing to pay.

If you're thinking of doing any home improvements in the near future, contact your mortgage and real estate professionals. They'll be able to provide you with the best money making and money saving tips.