So here's a quick list of the things that we believe are high-impact improvements. These are roughly in descending order of importance but are all critical. They are the things that you should really plan on improving in order to have the kind of traffic and buyers you will want in the end. Don't cut corners on these, and remember to keep the materials used consistent with most homes in the area:
Kitchens
Bathrooms (consider adding or modifying one if there are not 2 full baths per 3-4 bedrooms)
Paint, both interior and exterior
Floors (new carpet or finished hardwood in living areas, tile or vinyl in kitchen and bath)
Landscaping
Windows (people are looking for energy efficiency in most areas today)
New heating system
Central air conditioning
Absent from the list above are such things as new second stories, garage conversions, porches, etc. We feel that adding quality tends to win out over adding space most of the time.