Eastsizing move to P.E.I. a success, says B.C. family
A B.C. family that packed up their three kids and moved to P.E.I. in April to look for more affordable housing says they did the right thing.
The Bruyneels called it eastsizing.
Shannon Bruyneel told CBC News their new home in downtown Charlottetown is larger and cost less than half of what the family paid for their house in Port Moody, a suburb of Vancouver, four or five years ago.
The new home is also a duplex, and will generate a rental income.
"We call that our ultimate eastsizing move," said Bruyneel.
"[We] go from all of our income going towards housing to actually being on the positive side for housing. We have a mortgage but the amount we'll get in rental income on this, so we're going to be either revenue neutral to positive on housing costs which is just unheard of in Vancouver, unheard in a lot of places. So we're really lucky to be able to do that."
Bruyneel said the family sold their house in B.C. just as the red hot market was starting to cool, and a new foreign buyers tax came into effect.
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