Â April 18, 2013 â€“ 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.
â€œSmoking has a profound impact on how appealing a home is to a prospective buyer,â€ says David Visentin â€œIt 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.â€
Visentin hosts â€œLove it or List itâ€ on Canadian televisionsâ€™ 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 itâ€™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.
Â© 2013 Florida RealtorsÂ®