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North Surrey Homes for Sale

Whalley, Royal Heights, Port Kells, Bridgeview and Fraser Heights are just a few of North Surrey’s communities attracting potential homebuyers. The City of Surrey is very proactive and prides itself on its long-term goals of making the downtown Central Surrey core into something like Yaletown in Vancouver. With plenty of new commercial and residential real estate being developed today, you can literally watch the changes they have in motion on a daily basis. Central Surrey is quickly becoming a hot spot for first time homebuyers, investors, and working professionals who want to leave a greener footprint by using the many public transportation options all throughout the Lower Mainland. Check out our North Surrey MLS listings or call Natasha Taylor of the Taylor Team at 1-778-316-4290 and let our group of experienced North Surrey Sutton real estate agents show you why Surrey has been rated BC’s #1 area to invest in (and the #4 in all of Canada).

About North Surrey BC

North Surrey British Columbia is a great place for the first time buyer, commuter, or for anybody looking to invest in BC real estate. Let our group of experienced Sutton North Surrey real estate agents at The Taylor Team show you why Surrey has been rated the #1 area to invest in BC and the #4 in all of Canada. Whether you are looking to jump on the sky train and head to work with ease or just get into the Surrey real estate market, you definitely can’t go wrong buying here in North Surrey BC. With starter areas like Whalley, to more prestigious residential communities like Fraser Heights, there is much to choose from here in North Surrey.

North Surrey real estate is constantly under development. An extremely large amount of BC condos and new homes are being built in this popular area as well as new commercial buildings.

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For sale Open House
$1,599,900
9387 140 STREET, surrey, British Columbia

9387 140 Street

Surrey, British Columbia

LOCATION! LOCATION! LOCATION! This beautiful home is located in the heart of Surrey...walking distance to the skytrain stn, hospital, schools, parks, the developing tech and health district in Surrey incl. UBC Med campus, covenience is at your doorstep.This home features new windows, roof & balcony (all installed in 2024). Abundant natural light streaming from new floor-to-ceiling windows & skylight and the wood ceilings and brick walls add charm & personality. Upstairs feature 4 good size bedrooms and below,is a 3-br suite w/ bright white kitchen, perfect for rental/mortgage helper. With 8084 sq ft lot, it provides plenty of room for gardening and outdoor enjoyment for kids. What are you waiting for? Book now your private viewing. OPEN HOUSE: May 4 & 5, Sat & Sun, 2-4 pm. (id:48205)

6 Bedroom 2 Bathroom 2348
For sale Open House
$1,599,900
11454 141A STREET, surrey, British Columbia

11454 141a Street

Surrey, British Columbia

This stunning, fully renovated 6-bedroom, 2-bathroom residence nestled in the charming Bolivar Heights area is a must-see gem! Boasting 2,194 square feet of space on a 10,452 square foot lot, this home features a newly renovated kitchen complete with a smart fridge, brand-new appliances, and a beautifully designed living and dining area. The main floor showcases three bedrooms and an upgraded bathroom with a bidet, while the lower level offers three additional bedrooms, a spa-like bathroom, a spacious elegant & updated kitchen, and a large rec room. Outside, discover an entertainer's dream with a fully covered patio, hot tub, outdoor fire table, basketball court, and yes, a putting green! With over $200,000 invested in upgrades and renovations, this residence is truly one of a kind! (id:48205)

6 Bedroom 2 Bathroom 2194
For sale
$1,599,900
11145 159 STREET, surrey, British Columbia

11145 159 Street

Surrey, British Columbia

In the heart of Fraser Heights! This stunning two-level home boasts a finished half basement with a sliding door to a private facing yard and a spacious deck perfect for entertaining. With vaulted ceilings, updated interiors, 4 bedrooms, Plus a hugh games room (which can be the 5th bedroom), 2 gas fireplaces, well maintained flooring, Updated roof, Furnace and water tank etc. This property is move-in ready and a must-see! (id:48205)

4 Bedroom 3 Bathroom 2995
For sale
$1,599,900
9913 126 STREET, surrey, British Columbia

9913 126 Street

Surrey, British Columbia

Welcome to a fantastic investment opportunity in the prime neighborhood of Cedar Hills! Nestled conveniently close to Downtown Surrey, this property is close to everything from all levels of schools, shopping centers, recreational facilities, parks, to a variety of restaurants. Sitting on nearly 10,000 sqft of land, this parcel offers potential for savvy investors and builders alike. Subdivision potential or build your dream home! (id:48205)

4 Bedroom 2 Bathroom 2100
For sale
$1,599,800
10018 123A STREET, surrey, British Columbia

10018 123a Street

Surrey, British Columbia

This partially renovated home has lots of options: Housing for multi generation extended family, generate revenue by renting out the 3-bedroom suite in lower floor and/or main suite with $7100/month in total, or just hold for future redevelopment. 8 bedrooms and 4 bathrooms nestled on an 8000+ sqft Lot in a quiet North Surrey neighborhood. Lots of upgrades include laminated floor, painting, built-in vacuum, radiate heat in bathrooms, heat pump... One minute walk to 316 Bus Stop to Surrey Central, Short Drive to shops restaurants and other amenities. Easy to Show. (id:48205)

8 Bedroom 4 Bathroom 3277
For sale
$1,599,777
11378 RIVER ROAD, surrey, British Columbia

11378 River Road

Surrey, British Columbia

A charming two-story home with a basement boasting 6 bedrooms, 3 bathrooms, and a generous activity room. This delightful residence underwent renovations in 2020, including a new roof, hot water tank, windows, furnace, and kitchen. Inside, you'll find a spacious living room flowing into an open-concept dining area connected to a fantastic, sizable kitchen featuring bamboo floors and a fireplace. The property also includes a patio and terrace, with a large open leisure space in the basement. The house is fully fenced, surrounded by lush foliage providing shade, and the front yard blends seamlessly with stunning views of the Fraser River Docks. Conveniently located near buses, Scott Road station, schools, shops, and major traffic routes.Open House cancelled. (id:48205)

9 Bedroom 5 Bathroom 2219
For sale Open House
$1,599,000
9141 143A STREET, surrey, British Columbia

9141 143a Street

Surrey, British Columbia

CORNER LOT, rare opportunity in a great location BEAR CREEK. Perfect for INVESTORS OR DEVELOPERS seeking to customize & build their dream home in the future, in this sought- after community. HOLD and BUILD or enjoy staying for many years because this home is solid and shows very well. Discover this hidden GEM with 5 bedrooms, 4 bath, kitchen with island, and a man's private cave or can be a potential suit. Enjoy summer barbecues, games, family bonding time and gardening in the big deck. Persimmon and blueberry trees are soon to bear fruits. Gazebo and hot tub will entertain your guests. Pre approved Buyers are welcome to view! Your exciting chances awaits. Hurry up and DON'T WAIT! Book your slot with your AGENT. (id:48205)

5 Bedroom 4 Bathroom 2335
For sale Open House
$1,599,000
9236 STUART CRESCENT, surrey, British Columbia

9236 Stuart Crescent

Surrey, British Columbia

Step into this charming property exuding character at every turn. Introducing this amazing 2-story house situated on a peaceful Queen Marry residential street, conveniently positioned near schools and public transportation. Queen Marry Home with 2 mortgage helper suites - perfect for first time buyer or investor. This 6 bedroom 4 bathrooms house sits on 7440 sqft rectangular lot, very well kept, and partial renovated a few years ago. Main floor features 4 bedroom and 2 bathroom along with huge living also dining area, kitchen & covered outdoor patio. Spacious basement - 2 mortgage helper 2 bedroom + Studi Suites. Huge lot with fully private deck and fenced. perfect for your summer parties. Don't miss out on this exceptional opportunity to live in t most sought after neighborhood of Surrey. (id:48205)

6 Bedroom 4 Bathroom 3186
For sale Open House
$1,599,000
18932 72 AVENUE, surrey, British Columbia

18932 72 Avenue

Surrey, British Columbia

Clayton Village, 2 storey with basement and legal 1 bedroom coach house. Basement is fully finished with separate entry and full bathroom. Main floor features bright open plan with 9' ceilings. Large shaker maple kitchen with island and eating bar.. This beautiful single family home with a basement suite and coach house is located just minutes away from all levels of schooling, transit, grocery stores, shopping malls, community centres, libraries, and pharmacies.Showings by appt only. (id:48205)

5 Bedroom 5 Bathroom 3026
For sale
$1,599,000
8875 159A STREET, surrey, British Columbia

8875 159a Street

Surrey, British Columbia

Welcome to your dream home! Beautiful 2 storey home in desirable Fleetwood area. As you step through the welcoming foyer, The main floor boasts a spacious living room, perfect for entertaining guests or relaxing with family. A formal dining room awaits those special gatherings and celebrations. Open concept kitchen with ample counter space, a cozy eating area and family room provides a comfortable space for casual gatherings and everyday living. A den & a powder room on main. Curved stairway to the upper level. 4 generously sized bdrm.The primary bdrm features an ensuite bath & a separate sitting area, it provides a sanctuary where you can unwind after a long day. Double garage, spacious driveway. Walk to St. Matthew Parish. School catchment Woodland Park & North Surrey Secondary. Call now to schedule a viewing! (id:48205)

5 Bedroom 3 Bathroom 2963
For sale Open House
$1,598,800
8926 157 STREET, surrey, British Columbia

8926 157 Street

Surrey, British Columbia

Fleetwood's Finest - This pristine home is nestled in a quiet cul de sac on a 7,804 sq ft lot with private South facing rear yard complete with water fall feature & Koi pond. Outdoor living area with built in BBQ, fridge, sink, gas fireplace, infrared heaters & remote screens is perfect for year round entertaining. Gourmet kitchen & all four bathrooms have undermount sinks in quartz countertops. Both en suites boast oversized showers. Huge bay windows in living room drench the home in natural light. Other features include new roof, air conditioning, huge laundry room & a Handy Man's dream garage with polyaspartic floor covering, metal work bench & cabinets, slat walls & ceiling storage racks. Conveniently located close all amenities & walking distance to future Skytrain. Welcome Home!!! (id:48205)

5 Bedroom 4 Bathroom 2817
For sale Open House
$1,598,000
14446 BEDFORD DRIVE, surrey, British Columbia

14446 Bedford Drive

Surrey, British Columbia

Location! Location! Take a look of this 4 BEDROOM upper stairs PLUS 4 BR nanny suite LOVELY AND WARM FAMILY HOME.This centrally located home is quiet, bright, and close to all facilities and walking to all level of schools in a nice Bolivar Heights neighbourhood. The upstair offers a large master bedroom with walk in closet and 3 generous sized bedrooms combine with a large open concept living and dining room.The downstair provides 4 additional bedroom and a large family room and laundry room with 2 full bath room with separate entrance, huge returns mortgage helper. All BR in both floors are laminated. An extended D/way, title roof, dbl doors&crawl space and large patio.Welcome to enjoy your home before it has gone. Open house: MAY 11(Sat ) between 12:00pm - 2:00pm. (id:48205)

8 Bedroom 4 Bathroom 3050
For sale Open House
$1,598,000
11681 99 A AVENUE, surrey, British Columbia

11681 99 A Avenue

Surrey, British Columbia

Welcome to this beauty in ROYAL Heights! With a picturesque view that you dont want to leave. Spacious over 4300 sq ft of home including 4 bedrooms upstairs, 2 washrooms upstairs and 2 on main floor. Spacious Suite waiting for your ideas. Main floor features a kitchen, den (that can be used as a room on main), full washroom on main, living room, spacious family room and a view of the city and mountains that leads to a huge sundeck to enjoy the scenery. High Ceilings throughout the house with lots of storage and large size rooms. Close to public transit, shopping, schools and parks. (id:48205)

6 Bedroom 5 Bathroom 4304
For sale Open House
$1,598,000
8094 164A STREET, surrey, British Columbia

8094 164a Street

Surrey, British Columbia

Quiet Fleetwood dead end cul-de-sac with dedicated mostly nature walk and unused beautiful Surrey Park at both back and side, very private ideal location. Amazing 2 story home suitable for a single family, as NO Suite potential at all. Street of dreams styled immaculate as new quality build home with 2 story bright entry with oak spiral staircase, Huge private yard off big family room, cooks kitchen with Island, big eating area, 2 heat conductive fireplace inserts on main well laid out, and yes - Air Conditioning. This home has been kept in TOP notch condition, newer roof, furnace, hotwater tank, cook top, flooring, paint, all NEW windows, maytag washer & dryer, workshop in good sized double garage, 4 bedrooms PLUS massive Games Room up. Generous Master suite with views onto park. Open House April 27th, 2-4 (id:48205)

4 Bedroom 3 Bathroom 2180
For sale
$1,595,000
7883 162B STREET, surrey, British Columbia

7883 162b Street

Surrey, British Columbia

Hazelwood Grove! this gorgeous 2 storey on a 7816 sq ft lot. quiet cul-d-sac location in one of the most sought after neighbourhoods. Main floor layout includes living/family/dining room with an office and mudroom. Large master with spa-inspired ensuite and 4 bedrooms. (id:48205)

5 Bedroom 3 Bathroom 2606
For sale
$1,590,000
18460 74 AVENUE, surrey, British Columbia

18460 74 Avenue

Surrey, British Columbia

Developers! Investors! 3.0 FAR. Up-to 8 storeys. Low-rise development potential. An opportunity to purchase a development site in Clayton. In the new expanded Clayton Corridor Plan. This property is within 800 meters of the future SkyTrain Station on 184 St. Great investment. Walking distance to Salish Secondary School, Regent Road Elementary School, Clayton Park, and Clayton Community Centre. 750 meter's from a future SkyTrain Station. All amenities, groceries, etc.. nearby. (id:48205)

4 Bedroom 2 Bathroom 1450
For sale
$1,589,000
15636 112 AVENUE, surrey, British Columbia

15636 112 Avenue

Surrey, British Columbia

Discover this custom built two-level Fraser Heights home, featuring three bedrooms with the option for a fourth and a well-designed floorplan. Hardwood floors lead through the main level to a generous living and dining area, a welcoming great room, and a modern kitchen with an eating nook. Two enclosed patios offer versatile living spaces, while the large, south-facing backyard ensures privacy and sunlight, equipped with raised garden beds for gardening enthusiasts. Located near essential amenities, this home combines convenience with comfort. Dogwood Elementary and École Fraser Heights Secondary Catchment. (id:48205)

3 Bedroom 3 Bathroom 2668
For sale
$1,588,888
14733 108A AVENUE, surrey, British Columbia

14733 108a Avenue

Surrey, British Columbia

CLOSE to GUILDFORD MALL!! 2 storey house sits on a 7690 SQ FT lot area with 66ft Frontage. Fully renovated 6 bed & 3 baths available for you. The main floor includes a New kitchen cabinet with a good size 3 bedrooms and living room. Separate entry to the basement area and other features include updated flooring, paint, stainless appliances, lighting fixtures, a new furnace & hot water tank. Ample parking on the newly paved driveway. Close to the recreation center, shopping, transit, and freeway. Good choice for investments. (id:48205)

6 Bedroom 3 Bathroom 2202
For sale Open House
$1,588,800
7278 194 STREET, surrey, British Columbia

7278 194 Street

Surrey, British Columbia

Discover this exquisitely designed 5-bedroom, 4-bathroom home in Clayton, on a spacious 4318 sq ft lot and built in 2015. Featuring a welcoming front porch and an open-concept layout with high ceilings, the main floor includes a front office and a kitchen with quartz countertops, stainless steel appliances, and white shaker cabinets. The upper level hosts a primary suite with vaulted ceilings, a walk-in closet, and a spa-like ensuite with a double sink. Outside, a fenced backyard, a large covered deck, and a detached garage with a 2-car parking pad plus double tandem parking for six vehicles in total! Walking distance to schools, shops, and transit. OPEN HOUSE MAY 5, SUNDAY 2-4PM. (id:48205)

5 Bedroom 4 Bathroom 2562
For sale Open House
$1,588,000
15703 95 AVENUE, surrey, British Columbia

15703 95 Avenue

Surrey, British Columbia

Don't let this rare opportunity slip away. Join us for an open house from 2-4pm this Saturday and Sunday, April 13 and 14th, and see why this property won't be on the market for long. (id:48205)

5 Bedroom 3 Bathroom 2710
For sale Open House
$1,585,000
6689 193B STREET, surrey, British Columbia

6689 193b Street

Surrey, British Columbia

First time on the market is this inviting 3 level home with many custom features and a kitchen that will not disappoint. The kitchen showcases custom millwork, a cozy breakfast booth plus seating at the oversized island. Granite and stainless steel appliances. Double built in stoves plus a gas range. Pantry and plenty of storage. Pantry and coffee bar plus family and living spaces and gas fireplace. Make your way up to a huge Primary bedroom with his and hers closets, electric fireplace and spa like ensuite. 2 additional bedrooms and updated bathrooms with abundant storage. Fully finished basement with separate entry, PLUS a Coach Home as additional mortgage helpers. Fully fenced in yard on a quiet street and perfectly situated within walking distance to parks, schools and shops. (id:48205)

6 Bedroom 5 Bathroom 3235
For sale Open House
$1,580,000
8832 143 STREET, surrey, British Columbia

8832 143 Street

Surrey, British Columbia

Updated Executive Home in Green Timbers. When you want privacy, lots of land, room for a growing family: this is it. Situated on a huge 10,471sf lot that backs onto greenbelt you will enjoy a private oasis. Inside, the bright main floor has a spacious living rm w/ FP, dining, an open concept family room w/ 2nd GAS FP, sunny oak kitchen overlooking your gorgeous fenced yard, an office, bthrm, & laundry complete the main floor. Upstairs: MSTR Bed w/ private ensuite incl a jacuzzi tub plus 3 more generous bedrooms and a 3rd bthrm. Double wide garage & extra long driveway for all your toys. Central GAS forced air heating, heated crawl space, large private patio. Close to schools, transit and parks are an added bonus. OPEN HOUSE, Saturday April 27, 12:30pm to 2pm (id:48205)

4 Bedroom 3 Bathroom 2475
For sale
$1,578,000
9870 124 STREET, surrey, British Columbia

9870 124 Street

Surrey, British Columbia

This Beautiful 2-Story House has 7 Bedrooms & 3 1/2 washrooms. It is located on a quite street, close to schools and public transportation. The main floor features a large living room, a generous family room, and a beautiful kitchen with stainless steel appliances, 4 bedrooms in the main house, including a Den in the basement for upstairs use, there's plenty of space for a growing family. The basement boasts a separate three-bedroom suite, perfect for generating additional income as a mortgage helper. The entire house features tile and laminate flooring, making maintenance a breeze. Outside, you'll find a detached double car garage and a fully fenced, spacious, and private backyard, perfect for outdoor activities. (id:48205)

6 Bedroom 4 Bathroom 2486
For sale Open House
$1,560,000
7946 167A STREET, surrey, British Columbia

7946 167a Street

Surrey, British Columbia

Hard to find rancher styled home with basement on quiet street in East Fleetwood. First time on the market since 1994. Over 1760 sq feet on the main floor with an additional 1388 sq. ft. finished down plus a good sized workshop, with exterior access. Current owners have enjoyed the location because of the peaceful neighborhood feel, the treed rural setting, one level living with room for extended family, lane access for parking with lots of street parking for company and the cozy open floor plan that makes for a happy home. There are so many advantages to this type of plan that offers all you need on one level but gives massive space below for games, hobbies, family space, summer kitchen, storage and second laundry area. A great opportunity for the next family. (id:48205)

4 Bedroom 3 Bathroom 3445
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The data relating to real estate on this web site comes in part from the MLS® Reciprocity program of the Real Estate Board of Greater Vancouver or the Fraser Valley Real Estate Board. Real estate listings held by participating real estate firms are marked with the MLS® logo and detailed information about the listing includes the name of the listing agent. This representation is based in whole or part on data generated by the Real Estate Board of Greater Vancouver or the Fraser Valley Real Estate Board which assumes no responsibility for its accuracy. The materials contained on this page may not be reproduced without the express written consent of the Real Estate Board of Greater Vancouver or the Fraser Valley Real Estate Board.

About The City of

North Surrey

North Surrey is a perfect place for those who may need to commute. Not only is there an abundance of public transportation but you are located only about 25 minutes from downtown Vancouver by car. You also have many access and exit points to North Surrey through the Queensborough Bridge and multiple highway routes.

The community is beginning to develop plenty of luxury developments at much more affordable rates when compared to Burnaby and Vancouver. For penthouse units or condos with city and mountain views in Surrey you are looking at price ranges in the $600,000’s to $700,000’s, $800,000’s, and above. These offer unobstructed panoramic views of the city, the Fraser River, and the Pacific Coast Rocky Mountains making them extremely well priced in comparison to condos with views in Vancouver or Burnaby.

Neighborhoods in

North Surrey

In recent years, North Surrey has continued to grow and new condo and townhouse developments are popping up across town. With recent growth, the community has seen a lot of new custom homes being and young affluent families are beginning to move in.

map of clodverdale neighborhoods

Amenities in

North Surrey

In North Surrey there is also plenty of entertainment and lots of things to do. There is a large mall located just off the Skytrain and an excellent Recreation Centre with a swimming pool, Ice Arenas, Weight Room and Cardio Centre. Within the Rec Centre there are also some great after school programs, youth programs, and classes for adults.

North Surrey is home to some of the most state-of-art recreational facilities in Surrey. Whether you’re looking for indoor gyms, swimming pools, ice rinks or well-maintained outdoor walking trails, North Surrey has it all.

  • North Surrey Sport & Ice Complex
  • North Surrey Community Park
  • North Surrey Recreation Centre
  • Green Timbers Urban Forest
  • Holland Park
There are plenty of elementary and secondary schools located in North Surrey. Many of these schools have an excellent track record.

North Surrey Elementary Schools:

  • Hjorth Road Elementary School
  • Serpentine Heights Elementary School
  • Bonnaccord Elementary School
  • Berkshire Park Elementary
  • Harold Bishop Elementary
  • William F. Davidson Elementary School
  • Riverdale Elementary School

North Surrey Secondary Schools:

  • North Surrey Secondary School
  • Johnston Heights Secondary School
  • Guildford Learning Centre
  • Fraser Heights Secondary School

Private Schools in Cloverdale:

  • Holy Cross Regional High School
  • Surrey Christian School
  • Regent Christian Academy
  • Pacific Academy
North Surrey has an excellent reputation as being one of the best shopping districts in the Fraser Valley. Thousands of non-residents travel across the Fraser Valley each week just to be able to shop here.

  • Guildford Town Centre
  • Central City Mall
  • Cedar Hills Shopping Centre
  • Riverside Heights Shopping Centre

The transportation options in North Surrey continue to improve year after year. With easy access to Downtown Vancouver, its no surprise many commuters live in North Surrey and drive or transit into Vancouver for their jobs.

  • Uber
  • Translink Buses
  • Taxi Service
  • Skytrain

Economic Stats for

North Surrey

The economy in North Surrey continues to grow rapidly across a variety of different industries from finance to medical and education to warehousing. The economy is flourishing across all sectors and is expected to continue for many, many years.

North Surrey’s population has been steadily growing over the last decade. Over the last ten years, we have seen population growth close to 1% year after year, especially in Whalley (the city centre).
Communities like Whalley have lower than average household incomes, but a staggering 11% of the households each in excess of $150,000 per year in household income.

As the community continues to grow we expect the household incomes to increase substantially.

Similar to many other communities within the Fraser Valley, North Surrey has experienced drastic pricing increases, especially in new development projects.

North Surrey April 2021 Price Three Year % Change    
Detached House $1,288,100 30%    
Townhouse $618,800 7%    
Apartment/Condo $452,800 4%    

(From MLS® Home Price Index – Fraser Valley Real Estate Board April 2021.)

 

Residential Property Tax Rate for Surrey from 2018 to 2020
Year Muni. Rate Edu. Rate Total Rate
2020     0.189%     0.123%       0.346%
2019     0.176%     0.114%       0.319%
2018     0.181%     0.116%       0.326%

There are several major economic drivers in North Surrey. While the city has a very diverse economy, there are several large organizations that have been critical to the growth over the last several years.

Simon Fraser University is located in the Central City mall. With over 7,000 university students per semester, this provides a huge economic boost to the surrounding restaurants and retail stores. Kwantlen Polytechnic University has launched a new campus right next door which attracts several thousands more students.

Surrey Memorial Hospital is a high-volume hospital that employs thousands of highly paid and unionized staff. 

 

Rental Potential in

North Surrey

Condos for sale in the core of North Surrey, near the Simon Fraser University Surrey Campus, are a sure bet for rental investments. Today the Taylor Team has sold many of these units to individuals from all over the world who are purchasing these North Surrey condos purely for rental investment purchases. Being that these condos start in the $400,000 price point approximately, the rent literally will pay your mortgage if you need one. Being that all the condos are located within walking distance to the Skytrain, many students without personal transportation love to rent out the condos for the duration of their higher learning, and in some cases we have seen that the graduates stay in these condos as they are quite nice and extremely convenient for the working professional who has to commute into downtown Vancouver.

Before you take the first step in acquiring a real estate investment it is best that you understand the most common costs associated with acquiring and maintaining a rental property.

  • Property Transfer Tax – This is a provincial tax on the transfer of ownership between the seller and buyer. In general, it is 1% – 3% of the fair market value.
  • Lawyer Fees – These fees vary depending on the firm’s rates and whether you will be financing or paying cash for the property. That being said, in general, the cost is approximately $1,000 – $2,000.
  • Property Taxes – All real estate in BC is impacted by property taxes in one way of another. In North Surrey, you can expect to pay around 0.334% of the BC assessment value each year.
  • Strata Fees – If you’re purchasing a property that has a strata corporation, then you can expect to pay a monthly fee to the strata. Most, if not all, apartments, townhomes, and condos have a monthly strata fee. This can range from $200 – $500+ per month.
  • Repairs & Maintenance – Most savvy investors budget 1 – 2 % of the fair market value of the property for repairs and maintenance.
  • Property Management – Who will manage the screening of tenants? What about collect the rents and abide by the BC Tenants Act? Property management companies can manage all of the day-to-day operations for anywhere from a 6 – 10% commission.

North Surrey is a big rental market. There are plenty of savvy investors that understand how lucrative the North Surrey rental market is and they continually invest in new condo projects, townhomes, and detached homes.

Vacancy rates in North Surrey are almost non-existent with the average being between 1-1.5% vacancy at any given time.

As we all know, each neighbourhood and property type will be able to demand rental rates at different rates. So it’s best to speak with a local real estate agent who understands your property and the market demand.

Estimated Monthly Rents:

1 Bedroom – $1,350 – $1,600 per month

2 Bedroom – $1,700 – $2,150 per month

3 Bedroom – $2,200 – $3,400 per month