This decade alone we are expected to see a significant rise in EV vehicles. By 2030, it has been forecasted that EVs will be the dominant mode of vehicles purchased in Canada.
For homeowners, a home with EV charging will become increasingly valuable to more people – and therefore a serious consideration for property value. Whether its a new build or existing development, a serious consideration should be awarded to installing EV charging, or at the very least the ability to easily install EV charging options for a home or garage.
Even the Condominium Authority of Ontario (CAO) has adjusted to the increase of EV vehicles and the demand for the near future. As of May 01, 2018, changes to the Condominium Act make it easier for condo corporations and residents to install charging stations.
Whether it is for Condominium or Detached Home, for owners and investors alike it pays (literally) to do your research to understand trends that will ultimately affect your bottom line and potentially progress your portfolio forward.