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Canadian homeowners believe smoking cannabis at home will decrease home value: survey

By Joannah Connolly for Business in Vancouver

With the new cannabis laws coming into force, would growing pot at home reduce your property’s value? What about smoking weed at home? Do you think a new cannabis store in the neighbourhood would help or hinder a home sale?

A majority of Canadian homeowners (64 per cent) believe that a home where the owners smoked pot would see a decreased value, according to a survey released October 16 by real estate website Zoocasa.

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And 57 per cent of homeowner respondents said they think that even growing a legal amount of cannabis at home would reduce their desire to buy that property.

Sentiments were a little different among respondents who identified as renters, of whom less than half (46 per cent) thought that smoking pot would damage a home’s value.
The age of respondents also made a difference. Millennials were found to be the least likely to consider home-grown pot a problem, with 38 per cent saying that a legal amount of cannabis grown in a home would reduce their desire to buy that property, compared with 58 per cent of Gen Xers and 59 per cent of Boomers.

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