Home sellers are embracing the phrase, "You've got to spend money to make money."

To stand out in Atlanta's oversupplied housing market, spending thousands on exterior and interior improvements to attract buyers is not out of the question.

"The person who says, 'You know, I'm going to let the next buyer deal with this stuff?' Nah, [they're] not going to sell," said Van Johnson, broker/owner of ReMax Executives and 2008 president of the Georgia Association of Realtors. "You can't get away with it in this kind of market."

Some stubborn sellers don't realize they're hurting their chances of selling with their reluctance to drop prices and update their homes, said Jeff Luther, founder and president of Home-Probe, an Atlanta-based home inspection company. Consider this: If there are 15 homes on the market in the neighborhood like yours, and if the next one looks better, why would a buyer want to buy yours?

An important step is figuring out how much you need to spend to entice someone to buy your home. Johnson recommends asking: What improvements would be in line with the community where you live?

That may mean simple cosmetic adjustments, such as changing the faucets and repainting a few rooms. In some cases, especially where resales are competing with new home communities, it could mean adding granite countertops and high-end stainless steel appliances.

"People have already done all these price [readjustments], and now we have to do something else to be competitive. You've got to have a wow factor somewhere," said Kristen Crisp, an agent with ReMax Greater Atlanta. "You have to do something or you have to be significantly lower."

Agents and remodelers shared their tips on what investments make sense, room-by-room. As Johnson notes: More dollars in may not necessarily mean more dollars out at the closing table, but it means the home probably will sell faster.

In today's market, that's the goal.

CURB APPEAL

If buyers can't see it, agents can't sell it, Crisp said. Here are three ways to help you make a good first impression:

• Replace or repaint the front door.

Think about what the style of your front door says about your house, said Warner McConaughey, owner of HammerSmith, a Decatur-based design and renovation firm. It if doesn't fit the style you're trying to project, or if it's hard to close, consider buying a new one. Estimate $1,000 to buy a door, new hardware and paint and to install it. A cheaper option is to buy new hardware for the door.

• Trim the landscaping.

It may hurt you to do so, but take out mature bushes to put in new ones like you'll see in new communities, Crisp said. "It looks cleaner, neater when they're small," she said. Keeping the vegetation away from your house also prevents rot, decay and removes an avenue for insects to come into your home, Luther said.

• Paint and repair the trim, gutters and windows.

This could encompass patching rotten wood, repairing trim and painting, which Luther estimates could cost $1,000-$1,500. If you have a leaky gutter, either take it off or install new gutters, which McConaughey estimates at $2,000.

KITCHEN

Kitchens and bathrooms are two areas that make or break the sale of a house, said Dale Contant, owner of Atlanta Design and Build and president of the Atlanta chapter of the National Association of the Remodeling Industry.

An entire kitchen renovation is usually $25,000 and up. Contant said a face-lift could cost $7,500-$15,000, with such changes as new countertops, sinks, faucets, cabinet hardware and backsplash.

If your kitchen needs more than a good cleaning, here are five ways to make an immediate impact:

• Add new knobs and pulls. Crisp estimates this could be done for a couple of hundred dollars.

• Transform the floor. Vinyl floors are out; hardwoods are in. Expect to spend a minimum of $1,500, although it could skyrocket, depending on the size of the kitchen and type of floors.

• Change the faucet. McConaughey recommends using brands like Kohler, which are attractive but don't break the bank. Plan to spend anywhere from $80 on up.

• Count on the countertops. One of the most expensive changes, which Crisp estimates at $3,000 or more, are granite countertops. "If you're going to do the countertops, you might as well do granite. To redo it with laminate to sell it, I don't think it's going to differentiate you," said Bruce Meller, owner of Decatur-based Home Forge Remodeling.

• Buy new appliances. If yours are a decade old, Meller recommends replacing them.

MASTER SUITE

You must master the master bedroom and bathroom, where improvements can add major appeal. Here are five ways to do it:

• Up the luxury quotient in the bathroom. Change carpet or vinyl to tile, which could run you $3,000-$5,000, on average. Go a step further with granite countertops, or replace standard vanities with pieces that look like antique furniture.

• Make it clean. Swap out a medicine cabinet with a newer model, which could feature mirrors and electrical outlets inside. When you open a medicine cabinet that's been used for 10 years, it makes the bathroom seem dingy and small, McConaughey said. A larger, nicer cabinet could cost anywhere from $500-$2,000.

• Update mirrors and lighting. Trim out mirrors with picture molding, which could cost $100 or so, Crisp said. For those willing to spend a little more money, take off an existing mirror that spans the length of the double vanity and replace it with two decorative mirrors. Then replace the one massive light with two sconces, which Meller estimates could cost $80-$100 a fixture. Another smart move is to replace every light bulb in the house. "When you put in all new bulbs and turn the lights on, the house looks brighter and cleaner," he said.

•Add built-in shelving in a walk-in closet. It's something Crisp is doing in her own home, estimated at $1,200.

• Be energy- and water-efficient. Change out the toilets for low-flush ones that conserve water. It could also help solve a problem, if an older toilet runs. That could cost about $300 per toilet, Meller estimates. "In bathrooms, with all the water issues, it's not very expensive to put in new faucets and low-flow toilets," he said.

OTHER AREAS

If you're still looking for ways to improve your home, here are five other areas to focus on:

• Make room in the basement. Creating a media room or all-purpose space will add square feet to the house. McConaughey estimates it could range from $10,000-$20,000.

• Replace the water heater. It's not worth risking flooding in the basement if your water heater is old. That fix could cost around $600, Meller said.

• Embrace the outdoor space. Add an outdoor fireplace and a built-in grill, which you can also use until you sell the home. That could range from $5,000-$10,000, McConaughey said. "That can make your house a lot more interesting."

• Make the laundry room user-friendly. It could be as simple as installing a built-in ironing board, which Crisp estimates at $100-$150.

• Hire professionals. Providing a potential buyer a letter from a structural engineer saying that everything's OK offers peace of mind, said McConaughey, noting that it's a $400-$500 investment. Luther's company, Home-Probe, offers an inspection before homes go on the market so sellers can advertise that it's been checked out and repairs have been made. The inspection costs $350.

WHAT YOU CAN GIVE BUYERS

Popular items like oversized garages and additional bathrooms often can't be quickly added to a home, if you need to sell now. But here's a look at attainable features that buyers said were "very important" in a study by the National Association of Realtors:

• 53 percent: walk-in closet in the master bedroom

• 46 percent: cable/satellite TV-ready

• 28 percent: hardwood floors

• 23 percent: granite countertops

WHERE UPGRADES ARE MADE

Expenditure by owners of homes valued at $400,000 and over, as share of total:

43 percent: room additions

33 percent: kitchen remodels

32 percent: bath remodels

23 percent: exterior replacements

22 percent: other interior improvements

22 percent: replacements of systems and equipment

Source: U.S. Census Bureau Housing Survey, Harvard University's Joint Center for Housing Studies.