The top 5 ways to raise your home's value -- now

Real estate is a careful balancing act, Consumer Reports notes. Over-improving a property - say, by adding a swimming pool or sunroom - will cost you because the market won't support the asking price you need to break even, let alone turn a profit. Under-improving your home, namely by ignoring essential repairs, will also drag down its value.

Consumer Reports offers the following strategies that strike the sweet spot between too much enhancement and not enough.

1. Clean Up, Clear Out. Cost Range: $0 (DIY)-$2,500 (Pro); Potential Return: 3 to 5 percent. Nothing drives away would-be buyers faster than clutter, grime and the weird smells that accompany a messy home. Also vital to the process is decluttering and depersonalizing the space as much as possible. For severely cluttered residences, or if you're downsizing and need help winnowing your possessions, consider hiring a professional organizer.

Before hosting the open house, remember to open the curtains and blinds because natural light is just as important as order to making a home feel bigger. And give the entire interior a thorough cleaning, including vacuuming, dusting and wiping down every surface.

2. Spruce Up the Kitchen. Cost Range: $300-$5,000; Potential Return: 3 to 7 percent. It's a real estate adage that the kitchen, more than any other room, sells the home. But that doesn't mean you should drop tens of thousands of dollars on a new one before putting your house on the block. Bill Wilson, a real estate professional in upstate New York, advises clients to make all of those minor repairs that can lead to serious second thoughts for buyers - the leaky faucet, the loose light fixture, the burn mark on the countertop.

Once you've made the kitchen fully functional, think about a gentle spruce-up. For a few hundred dollars, you can probably paint the walls, update the cabinet hardware, and add new curtains, which will give the space a clean, fresh look.

If the kitchen is badly outdated, increasing your budget to $5,000 might make sense, especially if you could be in the home for a few more years. A couple thousand dollars will get you a top-performing refrigerator, range and dishwasher, all with the popular stainless-steel finish.

3. Freshen Up the Bath. Cost Range: $300-$1,000; Potential Return: 2 to 3 percent. Buyers want to see that a home is clean and well-maintained, especially in the bathrooms. Installing new bathroom fixtures will make the space look brighter and more appealing. Updating the mirror and lighting will improve the sensory experience.

If you're not looking to sell right away, there are several larger upgrades that shouldn't cost a fortune, given the small dimensions of many bathrooms. For example, you might be able to add a new floor and vanity countertop for less than $1,000, especially if you use inexpensive vinyl and laminate.

4. Paint the Rooms - Selectively. Cost Range: $100 (DIY)-$1,000 (Pro); Potential Return: 1 to 3 percent. A fresh coat of paint is the quickest way to transform a room. But it probably doesn't make sense to have your entire house repainted prior to putting it on the market.

Kitchens and bathrooms are two candidates for a complete paint job given the high traffic they see. You should also paint any brightly colored rooms. Whites and off-whites tend to attract the most buyers; the neutral palette allows them to focus on a home's attributes.

5. Enhance the Exterior. Cost Range: $150-$7,500; Potential Return: 2 to 5 percent. You shouldn't try to sell your home without sprucing up its exterior. Consumer Reports recommends starting with basic maintenance: mowing the lawn, trimming overgrown shrubs, applying a fresh layer of mulch to garden beds.

As with your home's interior, it's also important to make minor repairs, such as replacing cracked siding boards or repointing brick walls. The roof is another area to pay close attention to because prospective buyers are sure to do the same.