Nearly all homeowners must hire contractors for repairs and cosmetic upgrades before their property goes up for sale. Sometimes the jobs are small, like repainting a front door or repairing a shaky stair railing. Other times they're large, like replacing a leaky roof or rebuilding a broken deck.

But no matter the size of the job, sellers who hire a contractor put themselves at financial risk. They could overpay, get a shoddy job that needs to be redone at great expense or -- worst of all -- face high costs to fix damage done by an incompetent contractor.

"Your home is your biggest asset, and if you hire the wrong contractors that could be very expensive," says Cheryl Reed, communications director for Angie's List, a fee-based website that maintains a database of consumer reviews on service providers throughout the U.S. and Canada (www.angieslist.com).

Besides the fiscal hazards of botched contracting, homeowners also face the danger of "(busting) their budget on unwarranted overcharges for the work done," says Sid Davis, a veteran real estate broker and author of "A Survival Guide to Selling a Home."

"Due to the economy, many contractors are short on cash. You've got to be careful who you hire and how much you pay," Davis says.

Davis says there are plenty of reputable contractors willing to work for a reasonable rate, but homeowners must often work to find them.

Indeed, Davis contends it can be easier for consumers to stake out a solid homebuilder to construct a whole house than to find top-notch plumbers, electricians or painters to execute small home improvement jobs.

"Homebuilding companies are high profile and transparent. They identify themselves with signs in the front lawns of their customers. It's easier to see how they perform than to judge contractors who do smaller jobs," he says.

Here are several pointers for home sellers who need contractors' services:

-- Book your contractors in advance if possible.

For many contractors, the flow of work is lumpy. Perhaps one month they're overbooked, and then the next they have no work at all. If you can fit your jobs into holes in their schedule, they might give you very favorable terms, says Eric Tyson, a personal finance expert and co-author of "House Selling for Dummies."

-- Reach out broadly in search of the best contractors.

When seeking contractors, Tyson advises home sellers against resorting to the Yellow Pages or online advertising from random websites. A more dependable approach is to ask for referrals from friends, neighbors or work associates who've had recent work done.

Along with names gathered from your immediate circle, Tyson says it's often wise for home sellers to collect referrals through the real estate agent they plan to hire to list their property.

Contractors hired at the recommendation of a real estate agent are likely to be very attentive to your job --fearing that botched work could tarnish their reputation within the local real estate community.

-- Get ample estimates to help ensure that you don't overpay.

Preparing a home for sale is time-consuming. For that reason, Davis says many busy home sellers fail to gather a sufficient number of estimates from contractors. But he says such a failure of due diligence can be costly --especially when lining up major work.

"Time-consuming though it is, I recommend you get at least three to five estimates for any job expected to cost $1,000 or more," he says.

"The surprising thing," he says, "is that there's often little correlation between price and quality. So people who cast a wide net can often get both low cost and top-quality work."

-- Preview contractors' work by visiting customers' homes.

Once you've created a short list of contractors based on pricing and reputation, you might assume the next best step is to ask for references. But Davis says this isn't always the most informative way to determine the quality of their workmanship. Rather, he suggests you go and visit the homes of a few recent clients to judge for yourself.

"Who knows? The references a contractor gives you could be his cousins or someone he paid to say nice things," Davis says.

The photos shown on a company's website can also give you a deceptive picture, he says, because they might have been altered electronically.

-- Make sure you get all the major details of your jobs in writing.

Very few homeowners like to bother going over the fine points of an agreement for home improvement work --especially if they feel an intuitive trust for the contractor involved. But Reed, of Angie's List, says it's essential that anyone seeking home improvement services obtain a watertight contract, however brief.

"A good contract should contain a description of the work to be done, the contractor's start and completion dates and a full outline of the costs -- including penalties for missed completion dates," she says.

"Without a contract, it's very hard to make your case in court," if something goes awry, Reed says.

(To contact Ellen James Martin, email her at ellenjamesmartin@gmail.com.)

Americans have built an addition onto the dream of homeownership. Due to economic uncertainties, more people now crave ownership of their property "free and clear" of mortgage debt. Few have the cash to pay off a home loan in one lump sum. But many are attempting to make extra payments to principal to shorten the term of their mortgage.

"People have a growing aversion to debt. So there's a trend toward wiping out mortgage debt as quickly as possible," says Bruce Hahn, president of the American Homeowners Foundation, a consumer education group (www.americanhomeowners.org).

There's more than one way to knock off mortgage debt before the term of a loan ends. Those who receive a windfall -- perhaps through an inheritance -- can sometimes pay off the full mortgage all at once. But most pre-payers simply make extra payments each month. That way they could cut the payoff time on their mortgage from, say 30 years to 15.

Consumer advocates say many families can't afford the extra monthly cost of pre-paying mortgage principal. But even those who could afford to cut years off their term may not choose to do so -- assuming an analysis of their financial situation convinces them they could make better use of their discretionary cash.

As Hahn says, the pros and cons of mortgage prepayment depend on the circumstances for the homeowners involved. Considerations include age, income, expenses, job stability, how long the owners plan to live in their home and their investment philosophy.

Here are a few tips for homeowners thinking about prepayment:

-- Take all the pros into account.

Besides the savings you can enjoy from reduced interest charges, one obvious benefit of paying off a mortgage early is that your living expenses will decrease once your home is paid off. That means you'll free up funds to use for other, perhaps more fun purposes.

Prepayment often makes the most sense for homeowners with a mortgage rate well above the prevailing market rate, though another option for such owners would be to refinance. But even those with a low current rate could be justified in pre-paying their home loan -- assuming they recently took out the mortgage.

"The way a mortgage works, interest charges are front-loaded. So you get a lot more savings when you start prepaying early," Hahn says.

And consumer advocates also see other advantages to prepayment.

"Full ownership of your house gives you a tangible asset with a bundle of values. You can live in the house, borrow against it, sell it or rent it out," says Barry Zigas, director of housing policy for the Consumer Federation of America, a Washington, D.C.-based advocacy group (www.consumerfed.org).

He says pre-paying a mortgage can make particular sense to people heading toward retirement who expect to stay in their home indefinitely.

"In retirement, your income declines and your tax advantages from mortgage interest start to diminish," Zigas says.

Does it make sense from an investment standpoint to prepay your home loan? Most homeowners whose properties have lost value in recent years are skeptical. But Zigas says that in the near future a modest level of appreciation is possible.

"We can't expect double-digit inflation in home prices. But there is likely to be some level of appreciation in property values over time -- especially in strong neighborhoods where the demographics are positive," he says.

-- Don't overlook the negatives.

Besides the advantages of mortgage prepayment, Hahn urges homeowners to take note of the downsides.

"A house is a less liquid asset than money in a savings account. You don't want to sink all of your funds into the house. You might need liquid savings in case of a catastrophic medical expense or some other crisis," he says.

While prepayment may make sense for older couples, Hahn says many families with young children have a greater need for cash to keep up with current expenses, such as day care and educational costs. Thus it may make sense to keep mortgage payments as low as possible in such cases.

-- Carefully calculate how much extra it would cost for pre-payment.

Some homeowners mistakenly believe they're not allowed to accelerate payments to principal on their mortgage. But as Hahn notes, a combination of state and federal regulations now prohibit lenders from imposing mortgage prepayment penalties in nearly all cases.

How much would it cost you to prepay? That depends on how quickly you wish to wipe out your mortgage debt. Obviously it would cost less per month to pay off a 30-year mortgage in 20 years than in 10 years. The other variables include the size of your outstanding debt and the interest rate on the loan.

One good way to find out how much your prepayment plans would cost on a monthly basis is to use one of the free mortgage calculators now available online. Two of the websites that offer these are: www.hsh.com and www.bankrate.com.

Any homeowner can stop voluntary prepayments to principal at any time. Even so, Hahn strongly suggests that those considering prepayment first consult a financial adviser.

"Your accountant is in a good position to evaluate whether prepayment makes sense in your case once all the factors -- including your tax situation -- are taken into account," he says.

(To contact Ellen James Martin, email her at ellenjamesmartin@gmail.com.)

A couple in their mid-50s with grown children is eager to sell their 3,800-square-foot contemporary house in favor of an easy-to-maintain apartment nearby. If they could free their equity, they'd have funds to travel the world and pursue their passion for jazz.

But after six months and no offers, they're dispirited. They've already cut their price twice and are now offering their place -- located in a popular suburban neighborhood -- for less than similar homes nearby.

The agent is urging them to remove furnishings that reflect their quirky tastes, like the futuristic neon orange sofas in their living room. She wants them to take down art reflecting their favorite pastimes, like a couple dozen posters of jazz artists. And she advises them to pack away the many family photos they have on display.

Sid Davis, a veteran real estate broker and author of "A Survival Guide to Selling a Home," has never seen the jazz lovers' property. But he strongly agrees it's smart for home sellers to remove any items that reflect their personal lives and tastes.

"People buy houses on emotion, not logic or reason. When you have all that personal stuff around, like all your kids' pictures, they can't get beyond that to visualize their own family living there," Davis says.

Davis insists that "less is more" when it comes to personal items.

"When I take prospects through an empty room they usually start placing their own furniture immediately. It's amazing how quickly they'll bond with a house that's free of other people's things," he says.

Davis stresses that superficial steps -- like changes to a home's staging -- are no substitute for adjusting the price of a property that's sat unsold for a long time. But assuming the property is fairly priced and in good repair, he says a limited and relatively inexpensive number of surface changes can have a dramatic impact.

Here are a few pointers for home sellers:

-- Add style to your home with classy moldings.

It's no surprise that in their model homes, builders make extensive use of decorative interior trim -- including crown moldings, chair railings and wainscoting. That's because these decorative touches give a home a finished quality that exceeds the cost of the work, says Dorcas Helfant, a real estate broker and former president of the National Association of Realtors (www.realtor.org).

"Some people who are truly handy can install their own moldings. But most sellers are better off hiring a trim carpenter. For just a few thousand dollars you can get a tremendous amount of woodwork done by a pro," Helfant says.

Davis is especially favorable to moldings painted a glossy white to contrast with walls in a light champagne or beige color.

-- Change the colors of your interior and exterior paint.

By the time their property has gone on the market, many sellers have painted a room or two.

But to maximize the showing appeal of a property, more extensive painting could be a key to enhancing salability. For example, Davis strongly recommends that all sellers repaint their front door, the most visible surface of any property. And make sure you repaint any other interior areas where wear is apparent.

As a finishing touch to add luster, Davis suggests you replace the hardware on your kitchen and bathroom cabinets, a move that should cost no more than $50 to $100.

-- Treat your place to a thorough professional cleaning.

Often when Davis tells clients to ensure their place is very clean, they respond with baffled looks.

"People think clean means washing dishes, making beds and doing a bit of dusting. But I'm talking about the kind of clean you get when you check into a high-end hotel. Anyone who is selling a home can't afford to miss a bit of dirt," Davis says.

Though books such as "Martha Stewart's Homekeeping Handbook" can give you direction, Davis says the best way for most sellers to achieve a high level of cleanliness is to hire a professional cleaning company.

"Once you've found the right cleaning company, give them a checklist of everything you need done. Among other projects, this should include a deep scouring of bathroom and kitchen tile to remove mildew and a painstaking cleaning of all the chandeliers and light fixtures. Expect the entire job to cost in the range of $200 to $400, depending on the size of your home," Davis says.

-- Make your windows sparkle again.

The odds are your cleaning crew won't take on one piece of work vital to your home's appearance: a thorough cleaning of your windows from the exterior. But Helfant says you can't afford to skip this. Nor should you avoid cleaning all your screens, which naturally gather dust and grime.

"Screens look a great deal better when they're clean, as do windows, which sparkle in the sunlight. Remember that the first visuals buyers see when they drive up are very important," she says.

Of course, home sellers can attempt to clean their own windows. But as Davis notes, the professionals have the equipment and skills to do a superior job, especially on hard-to-reach windows. The cost for professional window cleaning? Usually less than $200, though this will depend on the size of your property and the cost of labor in your area.

-- Do the surface upgrades quickly to keep your home on the market.

Sometimes the owners of an unsold home become so disheartened that they simply remove their property from the market until they can rework the place. Davis understands the desire to take a breather from the stress of selling. But rather than doing such a timeout, he urges sellers to schedule improvements on weekdays, when few buyers are likely to come by.

"Anytime you take your house off the market you lose potential buyers." If you do your touch-ups during the week, "you could be happily surprised to find that buyer interest has picked up by the next weekend after all the work is done," he says.

(To contact Ellen James Martin, email her at ellenjamesmartin@gmail.com.)