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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
$1,350,000
19046 69A AVENUE, surrey, British Columbia

19046 69a Avenue

Surrey, British Columbia

Cloverdale Beauty! Meticulously maintained & updated 2-story+basement home w/installed sink in potential basement kitchen ready for a potential 1 bedrm+den suite. Owner invested $107,000 in upgrades over the last 10.5 years! Enjoy sunset views, 9' ceilings, Luxury Vinyl Plank flooring, fresh paint throughout, open kitchen w/quartz island, eating bar, stainless appliances, updated faucet, pantry, deluxe moldings, new bath light fixtures, security system & BI vacuum. Enjoy the gorgeous backyard w/industrial grade aluminum & glass patio cover, exterior shade blinds, stamped concrete patio/potential 3rd parking space, artificial turf, updated fence, gates & landscaping. Fireplace & high efficient furnace serviced annually. Don't miss this exceptional opportunity! Open Sat Mar 23, 2-4 pm (id:48205)

4 Bedroom 4 Bathroom 2660 sqft
For sale Open House
$1,350,000
12646 113 AVENUE, surrey, British Columbia

12646 113 Avenue

Surrey, British Columbia

NVESTORS and FIRST TIME HOME BUYERS ALERT! 2 Bedroom, 1 Bathroom Bungalow located in Central Bridgeview near all major cross roots in the area and only 5 minute walk to Scott Road station! Good floor plan layout with detached single car garage, fenced back yard and cozy front porch. Master bedroom, additional bedroom and 3 piece bathroom. Brand new windows and roof has also been updated about 5 years ago. Move in, rent out or add on to make your dream home. This home is a perfect investment or building property with great future development potential. Don't wait, call today and make this your new home! (id:48205)

2 Bedroom 2 Bathroom 1050 sqft
For sale
$1,349,900
9775 153 STREET, surrey, British Columbia

9775 153 Street

Surrey, British Columbia

Nestled in a cul-de-sac, this charming rancher is meticulously maintained & displays pride of ownership. Featuring 2 spacious bedrooms, 2 updated baths, a versatile den/storage nook, large living room with a gas fireplace, welcoming kitchen & family room leads to a sizable south-facing backyard perfect for summer bbqs. Laundry room, ample storage, & crawl space makes for comfortable living. Numerous updates include air conditioning, roof, skylights, furnace, hot water tank, appliances, laminate flooring, custom blinds, awning, newer shed, fence, garage door. Ample parking with a 2-car garage, driveway, and an additional pad for a small trailer. Enjoy proximity to schools, shopping, transit, highway, steps to Johnston Heights Secondary & William F.Davidson Elementary. Assessment $1,407,100 (id:48205)

2 Bedroom 2 Bathroom 1222 sqft
For sale
$1,349,777
11070 WREN CRESCENT, surrey, British Columbia

11070 Wren Crescent

Surrey, British Columbia

Well maintained Nice clean 3 bed & Den, RANCHER. Perfect for someone who doesn't want to deal with stairs. Enjoy the cozy gas fireplace in the Large living room. Lots of light comes through the large windows. Updated windows, blinds, paint, roof, and furnace. Hardwood flooring throughout Detached 19x 23.5 sf garage plus 26'6x 16'7 carport. Lost of parking. Flat Rectangular lot with wide frontage of 66 sq. ft. in the most desirable up and coming area of popular Birdland. Large fenced backyard. Close to all the amenities. shopping, restaurants, good schools, Riverdale Elementary School, Guildford Park Secondary, transit and Hwy 1. Lots of New homes are being built on this peaceful street. Easy to Show! (id:48205)

3 Bedroom 1 Bathroom 1239 sqft
For sale Open House
$1,349,777
14337 PARK DRIVE, surrey, British Columbia

14337 Park Drive

Surrey, British Columbia

Enjoy living stair free in this Beautiful Clean ground level Rancher on corner lot. Home offers 3 good sized bedrooms, 2 full bathrooms. Huge living room, Dining Room. Separate Family room. Tons of parking and storage (2 single garage or use other garage as a workshop/storage ) plus driveway and street parking. Outdoor storage shed included. Very quiet neighborhood with easy access to transit, major highways, schools and shopping. Easy to show!! Must See!!! Open house Saturday feb 10th 2 to 4 pm (id:48205)

3 Bedroom 2 Bathroom 1552 sqft
For sale
$1,348,888
15025 SWALLOW DRIVE, surrey, British Columbia

15025 Swallow Drive

Surrey, British Columbia

BIRDLAND BEAUTY. Nearly 2100 sq ft 5 bdrm 2 bath basement home with shop and RV parking on 7200 sq ft lot (65x110). Windows, siding, doors, drain tiles, and attic insulation were all redone over the years. Large country kitchen with lots of cabinets. 23x20 vinyl covered deck with shop below and access from street. Large fully fenced yard. Basement ceiling insulated and finished in fire stop drywall easy to complete a mortgage helper. Great home in great area. (id:48205)

5 Bedroom 2 Bathroom 2063 sqft
For sale Open House
$1,348,000
11397 141A STREET, surrey, British Columbia

11397 141a Street

Surrey, British Columbia

Rancher on HUGE!!! 8329 sqft corner view lot. 3 bedrooms and 2 full baths with back lane. Many brand new 3 story(in-ground basement) homes in the area please check with city of Surrey for development potential. DO NOT DOOR KNOCK. Easy access to all the major routes and bridges. Lots of upgrades including new paint, new furnace, new laminate flooring and new appliances. Huge covered sun room is a bonus. Lots of potential live today and build later. please call to book your private showing. (id:48205)

3 Bedroom 2 Bathroom 1280 sqft
For sale
$1,339,900
6622 193A STREET, surrey, British Columbia

6622 193a Street

Surrey, British Columbia

Highly sought after Clayton Heights location in a family friendly neighborhood across from Star Park. This 2 storey plus a fully finished basement with 4 bedrooms ,3.5 bathrooms plus office/den offers both comfort and convenience. A Welcoming front porch as you enter the main floor seamlessly connecting the Gourmet Kitchen with granite, large island and dinning living room areas. Upstairs discover 3 spacious bedrooms, including a primary retreat and laundry. Downstairs offers extra living space with large Bedroom full washroom, separate entrance with potential mortgage helper. The backyard deck area great for entertaining relaxing with a double car garage and lane access. Close to all levels of schools transit and shopping. A Great place to call home! (id:48205)

4 Bedroom 4 Bathroom 2239 sqft
For sale
$1,338,800
19430 66A AVENUE, surrey, British Columbia

19430 66a Avenue

Surrey, British Columbia

Step inside this gorgeous craftsmen style own situated in the best spot on a tree lined cul-d-sac like block of similar built homes, in sought after East Clayton, in Surrey/Langley! Three bedrooms and large laundry room upstairs and a 4th bedroom possible on main level. Loaded with schools and great amenities nearby, this home is screaming for a family to come grow in! Spacious sundrenched fenced South-facing backyard, and a large two car detached garage on lane, this is a stunner. Basement substantially roughed-in by the builder for easy suite or other potentials. Five minutes to huge WillowBrook Shopping Centre, Walmart, Langley Hockey and Events Centre, and at 200st to the Trans Canada Highway and new skytrain station coming soon very close by! This is a beautiful new family community, surrounded by parks and amenities. Catchment Katzie! https://www.surreyschools.ca/katzie. Welcome home! (id:48205)

3 Bedroom 3 Bathroom 2709 sqft
For sale
$1,325,000
11103 CALEDONIA DRIVE, surrey, British Columbia

11103 Caledonia Drive

Surrey, British Columbia

Renovated in 2018, this 1948 Bolivar Heights home in Surrey is a cashflow gem or a prime building lot, conveniently close to Guildford Town Centre and Central City. James Ardiel Elementary (K-7) and École Kwantlen Park Secondary (8-12) are catchment schools. Numerous parks and 9 recreation facilities within a 20-minute walk enhance the neighborhood. Public transit, including a street stop 2 minutes away and Gateway Station at 2.07 KM, makes city travel easy. Safety facilities, a fire station, police station, and hospital within 3.4 KM provide security. This 10,250 sqft property with a 66'ft frontage holds potential for a new-built home, 2-lot subdivision, or duplex-buyers advised to conduct diligence. A rare quarter-acre opportunity in Surrey's desirable area. This won't last, contact now! (id:48205)

5 Bedroom 3 Bathroom 1801 sqft
For sale
$1,325,000
11687 98A AVENUE, surrey, British Columbia

11687 98a Avenue

Surrey, British Columbia

Prime Location Rancher, with Fully Finished Basement on a SPECTACULAR VIEW! This home boast a VERY PRIVATE BACKYARD, Lush Gardens / Green Space, RV / Boat Parking, plus all the rest of your toys, New Patio, Custom Solarium, Hard Wood Flooring, Gas Fireplace, Basement has a separate entrance and is roughed in for a future in-law suite. Easily add a mortgage helper, plus so much more! Move in and make this little OASIS your new home, or BUILD YOUR DREAM HOME, with STUNNING VIEWS! Don't miss out, these one-of-a-kind property's don't come available very often! (id:48205)

3 Bedroom 2 Bathroom 2637 sqft
For sale Open House
$1,299,999
10173 HELEN DRIVE, surrey, British Columbia

10173 Helen Drive

Surrey, British Columbia

Rare find!! Incredible opportunity to own in rapidly growing Central Surrey Area. Fully Renovated Rancher on a big 7500 sqft lot in the heart of Cedar Hills, this remarkable 3 Bed 2 Full Bath home offers an incredible blend of space, comfort & outdoor space. House was fully updated inside out in last 4 years. Step out into the lush backyard, where you'll find an inviting covered deck, ideal for hot summer days. The generous fenced yard provides ample space for play, gardening & outdoor entertainment. Cedar Hills is known for its family-friendly atmosphere, you're never far from everything you need. Great school catchment: Prine Charles Elementary & L.A. Matheson Secondary. Open house 2-4 PM on Sat& sun, mar 23, 24. (id:48205)

3 Bedroom 2 Bathroom 960 sqft
For sale
$1,299,995
11287 134 STREET, surrey, British Columbia

11287 134 Street

Surrey, British Columbia

An investment property on a prime location. Unlimited potential awaits at this charming rancher property! Whether you're an investor seeking a prime opportunity or a dream looking to build your own custom home, this versatile piece of land has you covered. (id:48205)

6 Bedroom 1195 sqft
For sale
$1,299,000
10845 142 STREET, surrey, British Columbia

10845 142 Street

Surrey, British Columbia

This well kept rancher offers a spacious three-bedroom, two-bathroom layout spanning 1389 square feet. Updated kitchen & appliances. The real gem is the huge 776-square-foot garage equipped with power and a sink. Situated on a large 8052 square foot lot, this property also boasts a 555-square-foot backyard deck for outdoor enjoyment. The roof, featuring two skylights, is only 5 years old. Additionally, there is a recently paved driveway, with ample space for numerous cars, including RV parking with a sanitary clean-out connection. Complete with fruit trees, perennial flowers & storage shed. Conveniently located, this property is just steps away from transit, parks, and schools. View the video & floorplan and call today. (id:48205)

3 Bedroom 2 Bathroom 1389 sqft
For sale Open House
$1,299,000
10256 145 STREET, surrey, British Columbia

10256 145 Street

Surrey, British Columbia

This 3 Level home with Large lot in heart of Guildford. In the Guildford OCP, designated for Row-homes/Townhomes, with approximately 1.3 FAR. Check with the city. Walking distance to Green Timbers Park, transportation, Lena Shaw Elementary, Super Store, Guildford Mall, Close to Surrey Centre. Bustling development is already in motion within this area, don't miss out this amazing opportunity to own in a fantastic neighborhood, a really solid investment. (id:48205)

3 Bedroom 2 Bathroom 1699 sqft
For sale
$1,299,000
9657 151A STREET, surrey, British Columbia

9657 151a Street

Surrey, British Columbia

FULLY RENOVATED INSIDE AND OUT! This gorgeous and 'move-in ready' 1-level Guildford Rancher has 2 beds+2 full baths, and peacefully situated in a safe & quiet family neighborhood only minutes walk to everything you could ever need! Owner built a fully-finished bedroom and storage room in the garage area, so parking is only in driveway. Brand new modern finishing! New kitchen, baths, appliances, cupboards, floors, paint, tiles, counters, gas F/P, furnace with heating & air conditioning, smart home thermostat, custom lighting, custom wood work, 13+ ft ceilings, & modern zebra window shades throughout. Exterior renos incl. new vinyl & wood siding, roll-up garage door, custom driveway finish, fencing, landscaping, & modern pot lighting. Roof, 2013. It's the perfect investment. Call now! (id:48205)

2 Bedroom 2 Bathroom 1653 sqft
For sale Open House
$1,299,000
35 11860 RIVER ROAD, surrey, British Columbia

35 11860 River Road

Surrey, British Columbia

This is a 10/10! With 2,600+ sq.ft. of luxury, executive townhome living, this house is perfectly maintained and beautifully apportioned. With the Master on the main, there are 3 Bedrooms total and 4 Bathrooms with a fully finished basement, a main floor with custom hand-scraped floors and impressive vaulted ceilings in the living area. Situated at the high end of the complex lends to stunning cityscape views to the north of New Westminster and Burnaby. This is the size of home at an affordable price that you have been waiting for. Call today to book a showing. THIS UNIT HAS A NEW ROOF FULLY PAID. OPEN HOUSE SUN, MAY 14 2-4 pm. (id:48205)

3 Bedroom 4 Bathroom 2658
For sale
$1,298,000
11070 ORIOLE DRIVE, surrey, British Columbia

11070 Oriole Drive

Surrey, British Columbia

NEW TO MARKET! This 7300+sqft property is situated in desirable Bolivar Heights, just minutes to shopping schools, parks and easy highway access. The home has been tastefully updated and features an expansive, open floor plan with an abundance of natural light. The home offers flexible principal rooms including the living room, dining room, kitchen, 3 bedrooms + an updated bathroom. Enjoy a seamless indoor-outdoor lifestyle with approx 500 sqft of enclosed sunroom area - this sunroom offers sliding glass doors and is perfect as an extended living space, private gym, recreation area and more! Additional features include 2 x storage sheds and a private, flat backyard. This is an excellent opportunity to purchase & enjoy a beautiful home, or invest & hold to build in a fantastic location. (id:48205)

3 Bedroom 1 Bathroom 1697 sqft
For sale
$1,295,000
15026 PHEASANT DRIVE, surrey, British Columbia

15026 Pheasant Drive

Surrey, British Columbia

Attention Investors and Developers! This prime 7,400 sqft rectangular lot in North Surrey's Bolivar Heights is a gem. Situated near Guilford, it's surrounded by amenities and parks, making it ideal for families. With its dimensions of 60x123, this property is a perfect holding asset for future redevelopment. It provides convenient access to schools, transit, and shopping. Don't miss out on exploring this exceptional opportunity today! (id:48205)

5 Bedroom 2 Bathroom 2409 sqft
For sale
$1,288,000
53 11267 133 STREET, surrey, British Columbia

53 11267 133 Street

Surrey, British Columbia

Discover modern living at its best in this 5 bedroom, 4 bathroom townhouse in the desirable Bolivar Heights area of Surrey. This 2022 built home spans 1979 sqft over three levels, offering a blend of luxury and functionality. On the lower level, you'll find a bedroom with its own entrance and bathroom, ideal for privacy. The main floor is designed for entertaining, with an open living space, stylish kitchen, a bedroom, and a powder room. Upstairs features three bedrooms alongside two full bathrooms. Enjoy nice mountain and city views from your room! Located within 15 minute walk to Gateway Skytrain station, this townhouse offers a lifestyle of ease and elegance, catering to those desiring space, modern comforts and unmatched convenience! (id:48205)

5 Bedroom 4 Bathroom 1979
For sale
$1,280,000
12609 113 AVENUE, surrey, British Columbia

12609 113 Avenue

Surrey, British Columbia

Large 8000+ square foot lot. Fantastic Opportunity to build your dream home with rental opportunity. With new provincial rules coming into affect later this year this is a great chance to get in. Great location in Bridgeview. Walking distance to Skytrain, Bridgeview Elementary school and Community Centre. Easy access to HWY.1. Patullo bridge is two minute drive. Home is in good condition and easily rentable until you build. Detached Garage and Workshop with big east facing backyard. Call for more info and to view. (id:48205)

2 Bedroom 1 Bathroom 1040 sqft
For sale
$1,269,900
10108 PARK DRIVE, surrey, British Columbia

10108 Park Drive

Surrey, British Columbia

Step into the heart of Canada's fastest-growing city and discover a charming rancher on a generous 7226 sq ft lot. This classic home seamlessly blends country-style living with urban amenities, creating a timeless appeal. The expansive lot offers ample space for outdoor activities and potential expansions. In light of new legislation, the city of Surrey embraces positive change, considering it as an opportunity to enhance the community's growth and vitality. Explore the perfect blend of comfort, convenience, and growth in this delightful rancher-style home. Come and see the positive transformations! It's finally time for your dream home location, close to all major highways. Discover the perfect blend of comfort, convenience, and growth in this delightful rancher-style home. This may be the place that will check all the boxes you have now and also prepare you well in advance for the future. With the city of Surrey's progressive approach on expanding the community, the highest and best use is yet to be seen. (id:48205)

3 Bedroom 1 Bathroom 1808 sqft
For sale Open House
$1,269,000
52 8633 159 STREET, surrey, British Columbia

52 8633 159 Street

Surrey, British Columbia

Beautiful spacious and bright 3 storey corner unit in mint condition located close to the future skytrain station on Fraser Hwy. This townhouse was renovated in 2021 with new floors, kitchen, appliances, light fixtures and bathrooms. it truly looks like new. it further features a elegant electric fireplace, security system, fenced backyard, a balcony and a wide tandem garage. The complex is located a walking distance to shopping, public transportation, and all other amenities. Open House Sunday March 31 2-4pm. (id:48205)

4 Bedroom 4 Bathroom 2465
For sale
$1,268,800
28 8250 158 STREET, surrey, British Columbia

28 8250 158 Street

Surrey, British Columbia

Welcome to this exquisite townhouse nestled in the highly sought-after Fleetwood neighborhood of Surrey. With its spacious layout spanning two stories and a basement, this immaculate property offers an ideal combination of convince and comfort.A well-designed floor plan that maximizes space and natural light throughout. The main floor boasts a generous living & family room, dining & nook area, perfect for entertaining guests or spending quality time with family.Step out from the kitchen onto the private backyard, where you can unwind and enjoy a morning coffee or a barbecue with friends.The fully finished basement presents endless possibilities, whether it be transformed into a home theater, a gym, or a recreational area.Book your private showing today! (id:48205)

5 Bedroom 4 Bathroom 3398 sqft
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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