It’s now legal for those who are 19+ to grow up to 4 non-medical marijuana plants in your home in BC. This may sound like great news to some people, but currently, growing marijuana in your home, even legally, will categorize your home as a Grow Operation.
In real estate this can raise a lot of issues.
Anybody planning to sell their home must disclose if your home has ever been a grow op. This can have an effect on your selling price, the ability for Buyers to get financing approved, and issues when obtaining home insurance.
Homes that have been disclosed as grow ops often sell for up to 20% less than market value.
If you are a Tenant, be aware that your Landlord can restrict the growth or use of marijuana in their property.
The Fraser Valley Real Estate Board has launched an online resource called “Safe Grow Homes for Homeowners and Buyers” and want the government to provide more support and guidelines for homeowners and buyers. For more information on the Safe Grow Homes click here: http://safegrowhomes.ca/
For more information from the government regarding Cannabis Clarity, click here: https://cannabis.gov.bc.ca/
If you have questions or concerns, please don’t hesitate to contact me at 604-866-5697.
Know before you grow!