International Students coming to Nanaimo to study spend an average of 6 years here. Over the 6 year study period with an average pier stay costing $400 per month a student spends almost $30,000 Canadian on housing.
An alternative is to purchase a property and have that money working for you. From 2001 until 2007 the property values in Nanaimo have increased by 229%, but have slowed to about 15% a year in 2006 and 2007.
Instead of spending money and getting no return on it, an international student could purchase a house with 35% down (legal minimum for non resident buyers) and see a return on that investment when they leave Canada.
Copyright © Travis Stevenson 2007
Web Design: Y. Zhou