Canada's red hot real estate market has real estate buyers scrambling to get into the profitable real estate market while the getting is good. Many feel purchasing and renovating distressed properties such as former grow ops or methamphetamine labs are an easy flip for profit. For the unsuspecting home buyer, this column is geared for you!
Many in Canada see the marijuana industry as a victimless crime. Grow ops, ecstasy labs and meth labs can be next door in any home, including 5,000 square foot luxury mansions from Hope to Whistler. Believe it or not, there are more million dollar plus homes used for manufacturing drugs in British Columbia versus an old home.
Most people cannot tell if a house was used as a drug lab. Many do not realize they may be buying a toxic wasteland. Meth drugs labs produce about seven pounds of hazardous waste for every pound of meth produced.
Many Realtors and Home inspectors are not experienced in detecting former drug labs. So it could be buyer beware. This column will provide some basic insights in what to look for when you suspect that smoking hot deal may too good to be true.
Homes in the lower mainland costing upwards of a million dollars plus are certainly a major investment for anyone.
