Frankly a single family house valued 700K+ in PQ does not make a good rental property. Please don’t get me wrong, PQ is a great neighborhood. IMO the deciding factor to sell or hold a primary residence (assuming holding 2 homes at the same time is not an issue) is how comfortable one is in foregoing the $250K/$500K tax exemption. If the goal is to take advantage of the tax exemption, then it is best to sell at the earliest and move on.
Yes there are provisions to utilize the tax exemption at a later date (2 year rule, moving back, etc), and these options come with complicated tax rules.
