Cigarette smoke impacts your home’s resale value

Did you know that smoking is not only bad for your health but that it can also decrease your home’s resale value?

Studies show that smoking cigarettes inside your home seriously affects your property’s worth. In a 2013 study by Pfizer Canada, 88 percent of the approximately 400 real estate agents surveyed said that it’s more difficult to sell a home where smokers live. Nearly half said that smoking affects a home’s resale value, and about one-third said that it lowers a property’s value by as much as 29 percent.

The damage caused by cigarette smoke can discourage potential buyers from purchasing your home and lead appraisers to devalue your property. Residue from the smoke stains walls, floors and ceilings, and the smell is extremely difficult — and costly — to get rid of.

Not only are the grime and smell unappealing to buyers, but third-hand smoke (the residue from second-hand smoke containing nicotine and other harmful chemicals) is carcinogenic and can remain lodged in dust and on surfaces for more than two months after smokers have moved out. Exposure to third-hand smoke can be harmful for your health and is especially dangerous for children.

If you’re a smoker and a homeowner, think twice before lighting up inside; the habit may be hurting not only your health but also the market value of your home.