Cannabis.  Will future sales of cannabis have an effect on the value of your home?
It depends.
Cannabis sales, according to this Huff Post article, will out pace hard liquor sales by 2020.  Wow!  Now you know really just how mature this cannabis market is already and long before distribution and quality are officially and legally controlled in Canada.  Just think how huge this industry will be once it is legally under the government’s pervu in Ontario and that is only the recreational side.  The WELLNESS side should prove to be an even more important aspect of this mysterious and, as yet, under-researched plant.
I anticipate seeing more focus on our industry’s watch over the proliferation of “grow houses”…although, in theory, that should not be necessary once the plant is legally and easily obtained.  I see grow houses as more of a black market market…non?  These houses, of course, will decline in value, so I would STRONGLY advise against going this route!  We can’t afford to waste a single listing in this town!
On the other hand, houses closer to the “pot shops” may take on added value the way (supposedly) houses in close proximity to STARBUCKS are reported to have done.  Anecdotal data?  Maybe.
Watch this video and see what could happen in the future.  You know what we say about the values of Real Estate……


(PS: Who knew Canadians drank over $9 BILLION worth of beer last year!! That’s a ton ‘a buds…I mean SUDS!)

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