That being said, real estate, when you can find it, is some of the most expensive in Canada. #2 over all i believe.
Best place to find current real estate information (for all of Canada, in fact) is at
www.mls.ca
It's an exceptionally reliable website, and the standard for real estate in Canada. real estate is extremly competitive in Vancouver, and be prepared to jump in fast and heavy. a 600 sqft condo in downtown Vancouver is about a half mill cdn. The public transit is great and services many of the surrounding communities.
If you've got your Air Frame Mechanic ticket, you'll likely have fewer probs with immigration and sponsorship, but you'll want to look closely at whether or not your certifications are recognized north of the border. Don't take anything from granted and the ten minutes to check could save you some major headaches. Cornerguy1 has put some great links to immigration sites for information in a number of posts recently, have a look around and I think you'll find those especially beneficial.
As someone looking to start a business in Vancouver, thats deffenitly something that will way in your favour with immigration. Vancouver is extremly affluent in many ways, and if it's what you're looking for, you can definitely find it there.
Check out whistler as well. It's like the US's Vale or Aspen but better (...sorry...just cant beat the terrain....not a nationality thing....) and an hour from downtown Vancouver.
One thing I would like to say about all of this:
As a Canadian born over seas, you're not likely to find a more patriotic flag waver in most regards. But it's by no means perfect, and we share a great many of the pro's and con's of American cities. Vancouver is, after all, a big city. A lot like Portland (i'm told). If it doesn't work out with Vancouver, you'll likely enjoy Seattle and Portland. Both have a great many of the things you probably enjoy about Vancouver.
Vancouver island is more for the outdoorsy crowd and is not as "metro" as Vancouver. It's better suited to families and retirees as side note.
Hope some of this helps.