“Eastsizing’ is the word the Bruyneel’s coined to describe their solution to the financially strapped situation the family found themselves in, living near Vancouver.
A variation on “downsizing” which is what many people in the Babyboom generation are doing. Those Canadians, generally 60 and older, who are selling the larger single family home, now that the kids are grown and living elsewhere, and moving into smaller, often condominium residences. Eastsizing, however, led to more square footage.
Twice the size and half the price
In April, the Bruyneels sold the home they bought in Port Moody, British Columbia four years ago, to go across the country to downtown Charlottetown, Prince Edward Island. The move took them from a single dwelling to a duplex twice the size and half the price.
The rental income will provide greater peace of mind. “We call that our ultimate eastsizing move.” Shannon Bruyneel told CBC News.
“[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 of in a lot of places. So we’re really lucky to be able to do that.”
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