Real Estate & Marijuana (Pot)

Gordon J. Wallace
Gordon J. Wallace
Published on October 16, 2018

As the Federal Government makes pot legal the Provinces all brace for the impact the decision will make to local society, economics and law. 

At a local level, people are most likely interested in how/where it will be sold/bought; what policies regarding public use will be; and for those that partake – the rules regarding personal cultivation.

My personal advice as far as real estate is concerned is simple and is as follows:

  • if you are going to grow your own plants, do so outside or in an out-building (shed or other structure) not physically attached to the main dwelling
  • if you are going to smoke, treat it the same as you would cigarettes or cigars and decide if keeping it outdoors is best
    • consult your home insurance provider to make sure you don’t find yourself in an unfortunate situation should tragedy happen
  • if you belong to a condominium, consult your condo board or bylaws for any rules specific to your property or unit(s)
  • talk to your neighbours, make sure you have mutual understanding about your intentions to avoid possible conflicts
  • as always, ANY and ALL odours can turn a potential buyer off a property within seconds of entering a home, so if you’re active in the selling process take extra care with respect to this or other habits

These are just a few ideas to keep in mind. One important lesson I learned early on in life was that PERCEPTION is more important than REALITY in many situations. Maybe you only had 1 small plant you grew in your basement because it wasn’t that big a deal to you.. but the perception to a potential buyer might be that oh no this house was a grow op! .. maybe you only smoked inside during this past winter because it was cold outside and you’re selling in the spring anyway but the perception to a potential buyer might be that oh great, they smoked indoors so now I have to repaint all the walls. In these cases perception weighs much heavier than reality.

Regardless of how little concern you (or your peer group) personally have for this issue.. consider that a recent CTV NEWS Survey Conducted by NANOS indicated that close to 80% of Canadians were NOT planning to partake once it becomes legal.. that’s a huge percent of the overall population and unless you’re planning a private sale to a family member or friend you need to consider the PERCEPTION of the masses and allow for the broadest appeal.

#justsaying

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