When preparing your property for sale, you want to make it as attractive as possible to buyers. After all, the more buyers like what they see, the higher the probability you’ll get good offers.

That’s why it’s advisable to clean, declutter, decorate, fix, and improve as much as possible.

But how far should you go with fixing and improving? For example, should you tear down the old deck and build a new one? Or should you just leave it as is?

Should you paint the main floor? Or is it okay to leave the faded finish and few wall dents just as they are?

Those can be difficult questions to answer because many factors come into play.

• What is the traditional return on investment for that home improvement? In other words, how much will...

Imagine you’d been keeping your eye on a desirable neighbourhood over the years. You had hoped that one day you could buy a home there. But then you saw prices creeping up — to a point where they became unaffordable.

“Oh well,” you’d thought. “I guess we won’t be moving there!”

That scenario is familiar to many homeowners. In fact, you too may have been keeping your eye on a neighbourhood you’d love to get into but have decided it’s become too expensive.

If that’s so, it might be worth taking a second look.

The real estate market changes. One year an area might be a red-hot seller’s market with prices soaring. The next year, things may have cooled, and prices stabilized....