The Real Story with The Rocca Sisters: Why buyers may be less likely or unwilling to buy your home
Posted by The Rocca Sisters & Associates
With this week being National Non-Smoking Week and last Wednesday being Weedless Wednesday, we thought we’d share with you the impact smoking in the home can have on its resale value. While we hope this week has inspired you to quit smoking for good, we know from firsthand experience that a home that has a strong cigarette odour can be very difficult to sell.
A 2013 survey of Ontario real estate agents and brokers, sponsored by Pfizer Canada, found that smoking in the home could lower the value of your property by up to 29 per cent. “Smoking has a profound impact on how appealing a home is to a prospective buyer,” says David Visentin, host of the W Network’s Love it or List it. “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.”
The impact of smoking in the home is not just cosmetic – it can significantly affect property values. Almost half (44 per cent) of real estate agents and brokers surveyed said smoking in the home affects resale value. Of these, one-in-three said smoking in the home may lower the value by 10-19 per cent and a further one-in-three (32 per cent) said it may lower the value by as much as 20-29 per cent.
An overwhelming majority of Ontario real estate agents and brokers agreed that it is more difficult to sell a home where owners have smoked. You are probably immune to your home’s smell. As Accredited Staging Professionals (ASP) and owners of the powerful trademarked STAGED & SOLD brand, we can provide you with inexpensive tips to help rid your home of odours so that your home can be sold faster and often at a higher price.
If you’re a smoker and you normally smoke indoors, start limiting your smoking to outside the home and take extra steps to deodorize indoors. For more information on your home’s worth and the best strategies to maximize its value, contact us today for a free, no obligation home evaluation.
Cathy & Tanya Rocca write a weekly column in the Burlington Post and Oakville Beaver Real Estate Sections delivered to homes in the Halton region every Friday. If you have a real estate question you’d like answered, just fill in the contact form below:
Posted on January 23, 2015, in Buying a Home, Cathy Rocca, Home Staging, Listings, Rocca Sister & Assoc. Team Updates, Rocca Sisters, Rocca Sisters & Associates, Selling Your Home, Tanya Rocca. Bookmark the permalink. Comments Off on The Real Story with The Rocca Sisters: Why buyers may be less likely or unwilling to buy your home.
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