I think since I've read books from quite a few independent authors I've made up my mind that I would definitely pay for an editor if I released a story/novel.
I would first hassle my sister for an unofficial edit/proof-read because I believe she'd be good at it (and I might get that service for free), but then I would pay for a professional editor as a second phase.
First stop - Richard H. Adin (rhadin).
No harm in checking out MR members first I say.
Regards
Caleb