Will the legal growing and smoking of marijuana (cannabis) in my home lower my property value? Starting October 17th, 2018, (subject to provincial or territorial restrictions), “adults who are 18 years of age or older would be able legally to: … grow, from licensed seed or seedlings, up to 4 cannabis plants per residence for personal use” http://www.justice.gc.ca/eng/cj-jp/cannabis/ How will this ruling affect homeowners? Will growing, or even just using cannabis affect your property value? “On the surface [four plants] sounds moderate, but the legislation doesn’t limit the number of crops or the size of each plant. Four plants could yield over five kilograms a year, which has the potential to cause structural damage to dwellings and comes with associated health consequences,” Michael Bourque said, chief executive officer of Canadian Real Estate Association (CREA) in an appearance before the Senate. https://www.cbc.ca/news/politics/realtors-home-cultivation-cannabis-1.4642118 Growing of the plants raises a few issues, as it turns out. “Home grow” could lead to the spread of mould and other fungi in residences across the country and physical effects of a grow op can often go undetected during a home inspection. The use of fertilizers and pesticides in the growing process could exacerbate environmental health risks in a home or multi-unit dwelling that shares air circulation Homes affected by cannabis growth are harder to insure and sell Ontario Real Estate Association (OREA) estimates remediation costs to restore a former grow op to a livable standard can run anywhere from $50,000 to well over $100,000 Landlords are finding ways to stop the growing in their properties, such as converting apartments to condominiums,...
