I went with the Sport Chek bikes for both my kids' first bikes and they were great and great value. Sold them on Kijiji when they were done for a few bucks under what I paid for them. Last year they moved up to 20" frames and I dropped some good money on those. At the 20" size (six/seven years old), a lighter bike starts to matter a lot more. Plus, you'll be doing real rides around Fish Creek or wherever you go instead of just messing around on <1km rides where you won't see any of the benefits of a better bike.
So yeah, your logic sounds fine coming from a guy who did it that way a couple years ahead of you. My family has had four Sport Chek bikes and we probably ride more than your average family. Not one single issue or problem with the bikes. Just air in the tires and oil on the chain.
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