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Property Value: Does Smoking In the Home Matter?


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Blog by Mary Roy | April 29th, 2013


Watch the Video at: www.ctvnews.ca/video?clipId=914283

Homeowners could risk losing big if they're also smokers, a survey of Ontario real estate agents and brokers suggests that smoking in the home will cost you when it comes time to sell.

A recent survey of Realtors & Brokers suggests:

  • Smoking in the home can reduce the value of a resale property by up to 29 per cent.
  • 25% of Buyers are unwilling to buy a smoker's home and 56% are less likely
  • Sale Price could be 10-30% Less Than a Non-Smokers home
  • 44% of people surveyed said that smoking affects the Re-Sale Value

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"Smoking has a profound impact on how appealing a home is to a prospective buyer," said David Visentin, a real estate agent and co-host of the W Network's Love it or List program.

"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."

Source: http://www.cbc.ca/news/business/story/2013/04/16/business-smoking-housing.html