A  HOMEOWNER’s  Guide

After years of moving in the direction of legalizing marijuana in Canada, we have finally arrived!

October 17, 2018 marks the day when Provincial Bill C-34, Federal Bill 174 (& a last minute amendment to the provincial bill) came into effect.

There’s a lot of information floating around out there — partially exasperated by the fact that each province & municipality will have their own specific laws.

We’ve compiled the must knows for Ontario residents & is the subject of this week’s #ThursdayThoughts!

Right now is very much the “Wild Wild West” in terms of how industries are reacting — here’s what you need to know as a homeowner or someone looking to buy one day.

Grow ops are not the same as 4 plants grown indoors,
but the stigma for grow ops is very real.

When someone is growing a commercial operation in a home they don’t live in they aren’t concerning themselves with proper ventilation or preventative measures for major damage to a home that occurs with high humidity & improper electrical.

When growing 4 plants, in proper conditions,
the home should not experience any air quality issues.

If you want to super go high-tech, you can pick up a self containing hydroponic grow box
that alleviates all of these concerns with indoor growing.

As for health insurance, we spoke with Amber Morrison – Financial Security Advisor & she shared that right now, smoking less than 4 times per week is considered a non-smoker.

With all policies though, each provider will have their own policies so be open with your insurance broker — the more they know, the better they can work in your best interests!

Home Insurance policies may require you to disclose if you are growing in your home but no official stance has been made.

At this point we aren’t sure if your insurance premiums will increase or if you will be covered should any damages be incurred… there are so many unknowns & no one is taking a clear stance until more data becomes available.

If you are planning on growing inside your home, it is at your discretion if you call to let them know, but should they ask you directly, it is in your best interest to declare.

If you live in a condo, there is a good chance you’ve already had meetings to discuss the ramifications of these new laws & voted on any changes to your condo’s specific by-laws.

Some condos are choosing to go 100% smoke free while some are opting to allow smoking inside the units or at least on the balcony.

If your neighbour is affecting your unit with their hot boxing efforts but your condo has allowed smoking within the units, you can still contact your property manager & file a complaint.

Financing an ex-grow op is traditionally difficult with many major lending institutions, but we don’t have any solid word from the mortgage industry (yet) if there will be any issues with financing a home where up to 4 plants were grown.

Each lender will have different risk assessments & this will impact their particular stance on financing these homes.

Thank you for stopping by, we truly appreciate it!

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If you have any questions, please reach out — we serve Hamilton, Halton & surrounding areas but also network with REALTORS® across North America.

Keeping It Genuine,
Your REALTORS®,

The Edwards Team of Todd Real Estate Ltd., Brokerage

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