Recently we linked to an article on the Everyday Money blog that stated that smokers who smoke in their homes are likely to sacrifice up to 23 per cent of their home’s value when it comes time to sell. The reason? Smoking has become a faux pas in today’s society, and it’s something that few people want anything to do with. And even fewer want to surround themselves with in their own home. Recently, the CEO of the Canadian mortgage company, Syndicate Mortgages, spoke about just how off-putting smoke is in a home. And about how it will also mar any attractive qualities the home boasts.
“What does a good school district matter when the kids have to come home to a house that smells like tobacco?” asked Mr. Arkan. “That smell won’t go away any time soon and families have better things to do with their time than try to get rid of it. One whiff is enough to compel any buyer to look elsewhere for better real estate prospects.”
He says that smoke in a home, or even just the strong stench of it, can be as off-putting to buyers as landfills or extremely noisy neighbours. And it’s actually not just the smell – the most unpleasant aspect of the habit that people seem to notice first. But he says that burn and scorch marks can also have a huge impact on the home, and how fast it sells once on the market.
So is it time to quit, even if just for the sake of your profit margin on the sale of your home? Well that’s ideal, but Mr. Arkan says there are also things that can be done by those that feel as though they just can’t quit.
“Simple initiatives like choosing to smoke outdoors can make the difference between selling off a house and having it sit in the market with no buyers in sight. For instance, if buyers are strapped for cash, they might agree to live in a home that is not near a good school district but will look elsewhere if it smells like a bar.”
In today’s day and age, it’s hard to imagine that anyone is still smoking in their homes. And those that are better hope that the time never comes when they have to sell.
