You, your house and Pot

Posted by Clark Cullen Group C21 on Tuesday, November 6th, 2018 at 2:10pm.

Now that Cannabis is legal in Canada there has been a lot of talk out ranging from impaired driving to where can you smoke it? How many stores are open? What does it cost per gram from Province to Province? How many plants can you grow in your home legally? It is 4 plants per house by the way.

One thing that seems to have been passed over in all this "discussion" is the impact that growing Cannabis in your home might have when it comes to selling your house. There seems to be a little bit of confusion right now in the Banking industry. Even though it is legal to grow 4 plants per house hold it is unclear as to whether a prospective buyer's lender will approve a mortgage on what is still technically a "grow op" in the eyes of CMHC and other insurers. 

The prevailing thought right now is that it is probably ok, and if not the rules will change sooner or later so that it is not an issue. This is good news if you are not thinking about selling your home for a few months (or longer, we all know how fast Governments works to fix their mistakes). But what if you are wanting or needing to sell your home sooner than that? 

Our advice right now is don't grow any Cannabis. Yes we know its legal. Yes we know it might be fun. Yes we know its a novelty, but until things are sorted out WHY would you take the chance that a bank declares your home a grow op and making it virtually unsellable?

We all know that eventually it will all get sorted out but until then just be aware of the potential consequences.

Check out the attached Link to the Vernon News.

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