bank, i think the answers to your questions depend on the size, value and condition of your house. like, sometimes when you make too many upgrades for a small starter house, you may not see a return on your investment. generally upgrades to the kitchen are most important, then the bathrooms i think. if your house is outdated in these areas, then seriously consider starting from there. tell us more about your house, if you don't mind, so we can give you a more informed answer.

I think the kitchen is in pretty good shape --- granite countertops, black appliances (though I guess we could upgrade them to stainless steel).

I think we will end up doing work in our backyard as it's been pretty neglected. I wondering from a resale perspective, what can you get a better return on: a fence or a deck?

Anyway, thanks for your thoughts --- they were helpful.

np, bank. i don't know much about fences or decks, as i have neither. but i would bet that a deck would yield a better return on your investment. it increases your square footage, in a sense. good luck!