Thinking of selling your home? Here are some ways to beautify it that might help net you a higher sale price:

Be aware that you might not get every penny that you put into improving the house back in the selling price. Still, there are ways to profit from home renovations - and they don't have to be expensive ones.

Kitchen and Bathroom:

The two key areas to focus on are the kitchen and the bathroom. Prospective home buyers often pay particular attention to these parts of the house and if they're in mint condition it could translate into bigger demand for your place.

Renovating those rooms generally yields a payback of 72 per cent in the case of the kitchen, and 68 per cent in the case of the bathroom, according to a study by the Appraisal Institute of Canada (AIC).

So how do you improve their looks? Consider installing new fixtures, cabinets, and tiles.

As far as kitchens go, stainless steel appliances have been trendy for a number of years now, but some experts believe they may be on their way out because of the perception that they're high-maintenance to clean.

If your house only has one bathroom and you're considering installing another, keep in mind that it could cost in the tens of thousands of dollars. When going that route keep tubs, toilets and sinks white, not coloured.

Paint:

The AIC also suggests that one of the cheapest solutions, though time consuming, is to slap a fresh coat of paint on the walls. Doing that yields a 73 per cent payback on average. So, if you spend $1,500 on the paint and materials, you can expect it to increase your home's selling price by $2,625 (a profit of $1,125).

But keep in mind that hot pink-coloured walls probably won't do much for your home's value. Make sure that your decor is modern and classy. Consider shades of white and muted versions of popular colours.

Simple Decor:

Keep things simple - avoid personal touches and custom work if you think you might re-sell the home. Your taste might not be that of the prospective buyer.

Also, custom touches can be more expensive and it's unlikely the money you put in will be recouped.

Lighting:

Another small change that can make a big difference is lighting. Rooms can take on a whole new feel with the right lighting - and the change is a relatively inexpensive one. Consider adding new light fixtures in hallways, kitchens, bathrooms and living rooms. You could receive as much as an 84 per cent return in the selling price.

Flooring:

Hardwood floors are the only way to go when springing for new flooring. Laminate may look nearly as nice, but wood is worth the extra dough. New hardwood floors can increase a home's value by up to 10 per cent. Choose light coloured oak or maple as opposed to darker colours.

Deck:

Adding a deck in the back yard can be a good investment, adding about 90 per cent of its cost to your home's resale value. Before embarking on such a project though - or any major home renovation for that matter - it's a good idea to speak to a professional realtor or appraiser - who can advise you on whether the improvement is worth your while.

The AIC's study highlighted the top ten renovations and the average rate of return:

Interior painting and decor - 73%
Kitchen renovation - 72%
Bathroom renovation - 68%
Exterior paint - 65%
Flooring upgrades - 62%
Window/door replacement - 57%
Main floor family room addition - 51%
Fireplace addition - 50%
Basement renovation - 49%
Furnace/heating system replacement - 48%