A smoker’s home can lower value up to 29%
April 18, 2013 – A recent survey of Ontario real estate agents and brokers, sponsored by Pfizer Canada, found that smoking in the home could lower the value of property up to 29 percent.
“Smoking has a profound impact on how appealing a home is to a prospective buyer,” says David Visentin “It stains walls and carpets, and leaves a smell that can be hard to eliminate. Many prospective buyers are really put off by homes that have been smoked in, and they can be very challenging to sell.”
Visentin hosts “Love it or List it” on Canadian televisions’ W Network, which also features “The Property Brothers,” who will appear at the Florida Realtors Convention & Trade Expo Aug. 14-18, 2013.
Impact of smoking in the home: Beyond cosmetic
Almost half (44 percent) of the real estate agents and brokers surveyed said smoking in the home affects resale value. Of these, one-in-three (32 percent) said smoking in the home may lower the value by 10-19 percent and a further one-in-three (32 percent) said it may lower the value by 20-29 percent.
An overwhelming majority of Ontario real estate agents and brokers (88 percent) said it’s more difficult to sell a home where owners have smoked. More than half (56 percent) said most buyers are less likely to buy a home where people have smoked, and 27 percent went further and said most buyers are actually unwilling to buy a home where people have smoked.
