• Rhelda Baschuk

Cannabis will affect real estate values

Https://www.cbc.ca/news/politics/realtors-home-cultivation-cannabis-1.4642118


I’d lean towards believing that most people will just buy what they want to use but it’s still important to note that your property value and your ability to resell can/will suffer if you plan to grow your own.

The article has an expert saying basically “lots of people already grow it and it hasn’t been a problem.” It may not get media coverage when Jane Potgrower’s sale falls through because the buyers bank pulled out when the appraisal showed Cannabis in the photos....BUT believe me, if it is disclosed that a home had cannabis grown in it, at this moment in time, you have just eliminated 99% of your best lenders.

People who buy former grow ops do so with either cash or interest rates in the double digits. This is not the average buyer. You will reduce the number of people who can buy your home.

Every industry is having discussion about how to deal with the repercussions of legalization. The mortgage and real estate industries are no exception. Until they have this figured out though, the moral of this story is do NOT grow Cannabis in your home.

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#mortgage #realestate #properties #albertamortgages #rightbroker #rightchoice #expertadvice

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