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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
$1,688,000
11600 140A STREET, surrey, British Columbia

11600 140a Street

Surrey, British Columbia

SHOW STOPPER PROPERTY AWAITS YOU! Starting here with a rare massive 13,295 sqft lot with amazing view of River, Mountain and City, creating an impressive backdrop for the private 1000 sqft+ deck ideal for entertaining, relaxing & enjoying sunsets with friends & family. The gorgeous yard features mature trees, shrubs & awesome layout. Continues on into this large family friendly 2800 sq ft+ home that boast a bright 3 bedrooms up / 2 bedroom suite with no stairs down (ideal for extended family or mortgage helper) some updates required. It inc added flex space up & down to suit your personal needs, Media Room, Gym, Art Studio or Home Office you choose! Great area and driving access & future build site. ***SNEAK PEEK OPEN Fri May 10th 5-6PM *** OPEN HOUSE Sat & Sun May 11 & 12th 2-4PM.*** (id:48205)

5 Bedroom 2 Bathroom 2803
For sale
$1,688,000
15332 95A AVENUE, surrey, British Columbia

15332 95a Avenue

Surrey, British Columbia

This home is sitting on a spacious 7173 sqft lot at private setting VERY QUIET. The most desirable location in Fleetwood walking distance to local super-save market and BERKSHIRE PARK and Secondary schools! Minutes to T&T market and Guildford Shopping Mall and easy access to HWY1. 3bedrooms on upper level, on the lower level it has spacious ensuite bedroom and den (can be 2nd bedroom) with separate entrance. Enjoy entertaining in south facing oversized sundeck and spacious private back yard that your kids & pets will love. (id:48205)

5 Bedroom 4 Bathroom 1813
For sale
$1,675,000
19170 73 AVENUE, surrey, British Columbia

19170 73 Avenue

Surrey, British Columbia

Welcome to Clayton Heights! This beautifully updated home offers a modern and elegant atmosphere with 6 bedrooms, 5 bathrooms, and parking for 3 vehicles. Situated just steps away from the new community Salmon Berry Park, two new elementary schools, high schools, public transportation, and parking. The main living area of this house boasts new blinds, flooring, lighting, carpet, and a fresh coat of paint. Additionally, enjoy a Whirlpool and LG appliance package, quartz countertops, and a bonus feature-an included AC unit! The basement has its own private access, making it ideal for tenants. A standout feature is the lane-way home, a rare find with its own private parking pad, serving as an excellent mortgage helper. Don't miss out on this opportunity! Call or text for a private viewing. (id:48205)

6 Bedroom 5 Bathroom 3082
For sale
$1,650,000
14095 110 AVENUE, surrey, British Columbia

14095 110 Avenue

Surrey, British Columbia

Check this large, almost 10,000 sq ft lot. It's on a quiet street, surrounded by newly built homes, close to schools, recreation, and just a few minutes from the bus or Sky train. Perfect lot and location to build your dream home, or hold for now and build later as there are two mortgage payers on the property. Schedule a viewing anytime. (id:48205)

3 Bedroom 2 Bathroom 1505
For sale Open House
$1,649,900
16095 80 AVENUE, surrey, British Columbia

16095 80 Avenue

Surrey, British Columbia

Located in a prime area near Park and the highly sought-after Fleetwood Secondary school, this two-storey home boasts 5 bedrooms and 3 bathrooms. The main floor offers a grand entrance, sunken living room, vaulted ceilings, custom wainscoting, and drapery. Hardwood floors flow into the functional oak kitchen with a breakfast nook. A spacious family room, laundry room, and flex room that can be used as an office or guest bedroom are also found on the main floor. The family room leads to a stamped concrete patio and a level backyard, perfect for summer gatherings. Upstairs, there are 4 well-sized bedrooms and 2 full bathrooms, including the primary bedroom with an ensuite. Bonus 2 bedroom unauthorized suite newly built and rented.Brand new roof for your peace of mind. (id:48205)

6 Bedroom 4 Bathroom 2897
For sale
$1,625,000
6898 189 STREET, surrey, British Columbia

6898 189 Street

Surrey, British Columbia

Bright CORNER Lot with lots of natural light & privacy! Built by a reputable builder PENTA Homes. On the main level you will find a office, Living room with vaulted ceiling, dining room, kitchen, pantry and laundry area. Kitchen has a back door to your low maintenance composite deck area with turf covering the backyard. Upstairs you find 4 bedrooms. Primary bedroom has a walk-in closet & a 5 piece ensuite. Downstairs in the basement there is a massive 1 bedroom suite, large kitchen and laundry, could easily be converted to a 2bdrm suite. 4 car parking on the LOT & Pickard Park across leaves plenty of street parking! Steps to both levels of schools; Hazelgrove elementary school and Clayton Heights Secondary School. (id:48205)

5 Bedroom 4 Bathroom 3369
For sale Open House
$1,624,900
19390 73 AVENUE, surrey, British Columbia

19390 73 Avenue

Surrey, British Columbia

Experience luxury living in this 6-bed, 4-bath home in Clayton Heights. Recently updated with new paint inside and out, it boasts a spacious layout including a cozy living room, formal dining area, versatile den, and inviting family room integrated with the gourmet kitchen. Upstairs, find four generously sized bedrooms including a luxurious primary suite with a walk-in closet and ensuite. The finished basement offers a large recreation room and a separate two-bedroom suite with its own entrance, perfect for guests or rental income. Conveniently located near top-rated schools. Contact us for details. (id:48205)

6 Bedroom 4 Bathroom 3665
For sale
$1,624,800
19470 72 AVENUE, surrey, British Columbia

19470 72 Avenue

Surrey, British Columbia

Gorgeous 2-storey PLUS In-Ground Basement PLUS Coach House with a total 6 bedrooms and 5 bathrooms has hit the market! With newly installed hardwood floor, carpet, new paint and immaculately-conditioned rooms, this home features a stunningly spacious Living Room + Family Room - a RARE find in common homes! An added Coach House serves as the perfect opportunity as a mortgage helper or an extra space for your living needs. There is also an Unauthorized Basement Suite with 2 bedrooms and 1 bathroom. Not to mention, there are 3 laundry units in site! Close proximity to Rapid Transit, Shopping, Restaurants, and Schools make this home all the more worth it! (id:48205)

6 Bedroom 5 Bathroom 3073
For sale
$1,618,800
17845 100A AVENUE, surrey, British Columbia

17845 100a Avenue

Surrey, British Columbia

Cul-de-sac home on a 1/4 acre - 6000sqft fenced & 4000sqft private greenbelt + backing park land! Minutes to HWY 1 & 17, Port Kells & Top Rated Schools! This spacious basement entry home has it all! As you enter you're greeted with soaring ceilings along with a large bed/den, full bathroom, laundry & entrance to the main level suite/rec area. Upstairs is the open concept living & dining room featuring gas fireplace & large windows. Kitchen offers stainless steel appliances, white shaker cabinets, breakfast nook & views of the greenbelt. Upstairs are 3 sizable bedrooms including primary with ensuite, soaker tub and walk in closet. Downstairs has a mortgage helper OR A PHENOMENAL SPACE TO UPDATE FOR A PARENTS/KIDS SUITE! STAND-OUT MULTI-GENERATIONAL HOME. Ready for your ideas & updates! (id:48205)

6 Bedroom 4 Bathroom 3310
For sale Open House
$1,600,000
9062 161 STREET, surrey, British Columbia

9062 161 Street

Surrey, British Columbia

Impressive 4BR+den 2.5BTH Maple Glen residence. Found in a quiet, family-friendly culdesac, your beautifully maintained home sits atop a tastefully landscaped 9,000+ SQFT lot. A spacious foyer leads to an elegant living & dining area illuminated by a large window overlooking a serene, tree-lined neighbourhood. The bright, eat-in kitchen has granite counters, s/s appliances w/ ample storage & prep space. The sprawling, south-facing yard surrounded by privacy hedges is an entertainer's dream w/ charming paving stones, covered deck, rock garden & powered shed. Sunny upstairs rooms incl. a spacious rec room that easily converts to a 4th bed & a tranquil primary bedroom w/ a spa-like ensuite. Steps to Serpentine Heights, Holy Cross & St. Matthews w/ Guildford Mall & major routes only mins away. (id:48205)

4 Bedroom 3 Bathroom 2334
For sale
$1,600,000
12424 OLD YALE ROAD, surrey, British Columbia

12424 Old Yale Road

Surrey, British Columbia

Great property to start your own little business or live in the house as it is a 2 bedroom and 1 bath with Laundry plus a garage. Over 7900 sf of yard space . This light Industrial zoning allows many uses. Call your realtor for viewing. (id:48205)

2 Bedroom 1 Bathroom 960
For sale
$1,600,000
13985 TALLON PLACE, surrey, British Columbia

13985 Tallon Place

Surrey, British Columbia

Prime future development opportunity! This 2-storey residence boasts 4 spacious bedrooms, 3 baths, formal living/dining areas, a sizeable family room, and a practical kitchen with abundant cabinet and counter space. Situated on a large 9,391 sq ft fully fenced lot, offering ample parking and accessibility. Positioned as a prime redevelopment opportunity within the Surrey City Centre Plan Area, conveniently located near Surrey Memorial Hospital and the forthcoming 140th Street Skytrain Station. Ideal for savvy investors seeking growth potential, families and developers! Survey available. (id:48205)

4 Bedroom 3 Bathroom 2168
For sale
$1,599,999
15698 95A AVENUE, surrey, British Columbia

15698 95a Avenue

Surrey, British Columbia

Well maintained & recently renovated family home in Fleetwood/East Guildford, located on a peaceful cul-de-sac. The spacious main floor has 3 bdrms,2 beautifully renovated bathrooms, a large living area w/ impressive electric fireplace, new flooring, paint & pot lights. Bright 2 bdrm bsmt suite tastefully renovated with new appliances, kitchen cabinets and countertops, lighting, laminate flooring, private outdoor area & separate entry .Beautiful covered patio overlooks quiet greenbelt and sprawling backyard that is perfect for kids. Super central & convenient location just minutes to Guildford Mall, Tynehead Park, schools & recreation! This is the kind of house that young families will love! OPEN HOUSE MAY 11 & 12 2-4PM. Realtor preview is Friday 1-3 pm. (id:48205)

5 Bedroom 3 Bathroom 2137
For sale
$1,599,999
6878 192 STREET, surrey, British Columbia

6878 192 Street

Surrey, British Columbia

Welcome to Your Dream Home in Clayton Heights! This 7-bed, 5-bath gem is a 2-level haven with a full 2 bdrm basement and a legal 1-bedroom coach suite above the double garage. The main floor offers a formal living room, a perfect dining room, and a kitchen with wood cabinetry, tile backsplash, island, and stainless steel appliances. Upstairs, find 4 spacious bedrooms, including a master suite with a walk-in closet & spa-like ensuite. Enjoy the sunny seasons on the large outdoor deck or in the fenced private yard! Centrally located, close to schools, parks, shops, and services, with easy highway access. (id:48205)

7 Bedroom 5 Bathroom 3675
For sale
$1,599,999
12426 91 AVENUE, surrey, British Columbia

12426 91 Avenue

Surrey, British Columbia

Welcome to this newly renovated home sittinng on a 7828 sq feet rectangular lot, 65.42 feet wide front that falls within the future provincial density plans for multi unit housing. This 5/6 bed and 4 full bath . 3 bedroom and 2 full bathrooms on the main living floor. Downstairs has very large functional 2 bedroom renovated suite and huge detached rec room with seprate electric breaker,heating and portable AC which is potental for another bachelor suite. Interlock paver driveway, double glazed windows, garage with doors on both sides so vehicles can through to the backyard for additional parking option given the back yard is paved, lots of parking available at back, quite and wide street, close to all level of schools, transportation, amenities. Wont last long (id:48205)

5 Bedroom 4 Bathroom 3036
For sale
$1,599,999
10972 152 STREET, surrey, British Columbia

10972 152 Street

Surrey, British Columbia

[[[ 3 RENTAL SUITES BELOW - LOTS OF INCOME ]]] Big Lot 7,355 sq.ft & house is 2 Level 2,865 sq.ft. . Corner lot & Renovated House. (id:48205)

6 Bedroom 5 Bathroom 2865
For sale
$1,599,999
8377 158 STREET, surrey, British Columbia

8377 158 Street

Surrey, British Columbia

Buyers/Investors/Builders/Developers attention! This beautiful 25 years old dream home is situated in heart of Fleetwood area, future plan for development of townhomes/condos. Check with City of Surrey for potential development and zoning. This house features include 5 bedrooms, 2 kitchens, 4 bathrooms with front and side lane access. Steps away from Schools, Parks, Community Rec center, Fleetwood Library, Transit and Future Skytrain station. Home offers Stainless steel appliances, Quartz counters 2 gas fireplaces and tons of natural light all day long. Big frontage and clean crawl space for extra storage. Excellent school catchment-Walnut Road Elementary and Fleetwood Park Secondary. Open House: Saturday April 6th, 1-4pm. Sunday April 7th, 1-4pm. (id:48205)

5 Bedroom 4 Bathroom 2670
For sale
$1,599,900
6976 195A STREET, surrey, British Columbia

6976 195a Street

Surrey, British Columbia

Quality-built craftsman-style home loaded with top of the line features. Open concept main floor with hardwood floors, kitchen with plenty of cabinets and quartz countertops, custom built-in hutch with bar fridge, walk-in pantry, family room with fire place, custom storage unit in laundry room, central air conditioning, new hot water on demand. This home boasts 4 generous-sized bedrooms upstairs, primary with deluxe ensuite and walk-in closet with custom shelving. The basement features a 1 or 2 bedroom plus den separate living accommodation with laundry. Double side by side garage, private fully fenced yard. This home is on a no through street, walk 2 blocks on greenspace, which leads directly to Katzie Elementary and a short walk to Clayton High School. (id:48205)

6 Bedroom 4 Bathroom 3361
For sale
$1,599,900
13836 92 AVENUE, surrey, British Columbia

13836 92 Avenue

Surrey, British Columbia

Welcome to this well kept, rarely available home in Bear Creek, boasting a total of 7 bedrooms and 6 bathrooms, including 2 suites, great for guests or a mortgage helper. This residence features a spacious layout with a great design, seamlessly connecting the living room, kitchen, and dining area. Additionally, this property offers the convenience of fully fenced, back lane access, providing easy entry and exit. Enjoy the perfect blend of elegance and functionality in this stunning home. Great location, close to everything, don't miss out on this one. (id:48205)

7 Bedroom 6 Bathroom 4113
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
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 Open House
$1,599,898
15910 100A AVENUE, surrey, British Columbia

15910 100a Avenue

Surrey, British Columbia

TUDOR Style home in the popular Sommerset subdivision on a quiet Cul-De-Sac. Ideal location close to schools, minutes to the Hwy 1, Port Mann, easy access to SKYTRAIN, and close to all the amenities of the Guildford. Home features a long list of upgrades over the years incl: furnace, windows, roof, paint, crown moldings, kitchen cabinets and island, quartz counters, KitchenAid S/S apps, undercount S/S sink, light fixtures, flooring, heated tile floors in main for bathroom and much more. Open floor plan, Huge covered cedar deck and a 2nd open deck, mtm view from the front and park at rear. RV/BOAT parking in backyard with gate access. Massive finished mezzanine storage area in the garage and a wired 24.5 x 10 workshop shed. OPEN HOUSE Sat May 11th 2-4 PM, OFFERS if any May 13th @ 7PM. (id:48205)

3 Bedroom 3 Bathroom 2295
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
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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