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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
$1,584,000
13496 113 AVENUE, surrey, British Columbia

13496 113 Avenue

Surrey, British Columbia

For more information, click the Brochure button below. Wonderfully practical house in emerging North Surrey! This updated and well maintained home sits in a quiet residential area on a 7,204 sqft corner lot. Ground floor is comprised of lobby, living, dining, a spacious kitchen (ceramic cooktop, intelligent gas oven, stainless steel fridge w/ice dispenser), laundry / bathroom, and a tech closet convertible to a pantry. The upstairs includes 4 bedrooms, the main bathroom and a large study. Master bedroom has a 2-piece en-suite. The front bedroom is set up as office space, it has a balcony and A/C. Impeccably finished and organized 2-car garage w/ shop area at the back, motorized overhead doors, automatic ventilation system, card/keypad access, CCTV and stereo/MP3. Six open parking spaces! (id:48205)

4 Bedroom 3 Bathroom 2136 sqft
For sale
$1,580,900
9045 146 STREET, surrey, British Columbia

9045 146 Street

Surrey, British Columbia

Well maintained and super clean 6 bedroom, 5 bathroom, two storey home on a 8,081 sq. ft. lot with a very private west facing inground pool, hot tub, and 3 hole putting green. Pool has its own 3 pce bath next to the storage unit. Elegant living room with gas fireplace, vaulted ceiling adjacent to spacious dining room. Kitchen has oak cabinetry and tile backsplash. West facing family room has a gas fireplace and is adjacent to the kitchen eating area with sliding doors to the private patio. Master bedroom has a shower ensuite and a walk-in closet. Other 5 good size bedrooms. 2 bedroom mortgage helper for additional rental income. Call to book your private showing today! Open house Sat & Sun (June 15/16) 2-4pm. (id:48205)

6 Bedroom 5 Bathroom 2733 sqft
For sale
$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 June 15th from 2 to 4pm (id:48205)

4 Bedroom 3 Bathroom 2475 sqft
For sale
$1,579,777
12470 95A AVENUE, surrey, British Columbia

12470 95a Avenue

Surrey, British Columbia

QUEEN MARY HOME WITH 2 BED MORTGAGE HELPER SUITE- perfect for FIRST TIME BUYER OR INVESTOR. This 5 Bedroom 3 bathrooms house sits on 7600 sqft lot, very well kept. Main floor features 3 bedrooms along with huge living room also dining area & kitchen. Spacious basement- 2 bed mortgager helper suite . Huge lot fully private and fenced, perfect for your summer parties. This home is ideally situated near schools Senator Reid Elementary & L. A. Matheson Secondary, parks, shopping, and transit. Don't miss out on this exceptional opportunity to live in the most sought after neighborhood of Surrey. (id:48205)

5 Bedroom 3 Bathroom 2580 sqft
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 sqft
For sale Open House
$1,575,000
19257 69 AVENUE, surrey, British Columbia

19257 69 Avenue

Surrey, British Columbia

IN THE HEART OF CLAYTON HEIGHTS, just STEPS FROM KATZIE ELEMENTARY is this beautiful high end home! This Mark IV built home is a great room planned design with vaulted ceilings! 5 Bedrooms, 3.5 Bathrooms with fully finished basement! Kitchen has all high-end S.S appliances, built in Vacuum, and GRANITE counter tops. Beautiful formal living room or den off the entrance with LARGE WINDOWS FULL OF NATURAL LIGHT! The top floor features 4 bedrooms. A huge master bedroom with ensuite and walk in closet, and 3 other large rooms and bathroom. The Basement has a huge (1,127 SQFT) 1 bedrooms mortgage helper that could be converted to 2 bedrooms! Double garage + drive way! CLOSE TO SHOPPING / Parks! Book for appointment now! (id:48205)

5 Bedroom 4 Bathroom 3511 sqft
For sale
$1,575,000
16758 BEECHWOOD COURT, surrey, British Columbia

16758 Beechwood Court

Surrey, British Columbia

Welcome to Glenwood, one of the most desirable & well-established family neighborhoods in Fraser Heights. This huge 3,650 sf rancher with full basement sits on a 7,100sf lot on a quiet 'no-thru' street. Inside you will find a spacious great room floor plan with high vaulted ceilings through the main floor living area. The large master bedroom is on the main floor, plus a second bedroom and den (which has a window and closet for use as a bedroom). The basement is a great space with tons of potential, mostly finished, it features another bedroom and full bath, massive rec & flex rooms plus a huge workshop. There is plenty of parking here with double garage and driveway out front, plus an RV parking pad off the rear lane. Just a short walk to Pacific Academy and has easy highway access. (id:48205)

4 Bedroom 3 Bathroom 3650 sqft
For sale Open House
$1,569,000
9127 146A STREET, surrey, British Columbia

9127 146a Street

Surrey, British Columbia

Step into this meticulously renovated 5-bed, 3-bath haven. Lovingly maintained, it boasts new paint, windows, furnace, and on-demand hot water. The kitchen dazzles with white cabinets and stainless-steel appliances, perfect for gatherings. Stay cozy with a real wood-burning fireplace and bask in natural light from skylights. Outside, enjoy a new sundeck, railings, and patio cover in a fully fenced backyard with ample parking. Includes a 2-bed unauthorized suite. Nestled in a tranquil cul-de-sac on a 7200 sqft lot, close to transportation, schools, and shops. Schedule your private viewing today! (id:48205)

5 Bedroom 3 Bathroom 2571 sqft
For sale
$1,565,000
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 sqft
For sale
$1,559,000
13098 95 AVENUE, surrey, British Columbia

13098 95 Avenue

Surrey, British Columbia

Welcome Home! This lovely split-level total 6 bedroom and 3.5 bath family ( 3 Bed & 1.5 Bath on upstairs ) home is available in desirable neighborhood of Surrey's Queen Mary Park. Prime location, steps away from, bus stop, close to shopping, all major highways, city Centre and sky train station and 4 mins drive from future UBC Campus. This home has three bedroom on the main floor, and two basements suites (2+1) bed room ( great mortgage helper) LOT Size, 7200 Sq Feet. This is a great property for a beginners home, holding property, and to build your future three level dream home( Check with city of surrey). Will not last for too long. The property contains accommodation which is not authorized. Fully tenanted property. (id:48205)

6 Bedroom 4 Bathroom 2407 sqft
For sale Open House
$1,550,000
15839 98A AVENUE, surrey, British Columbia

15839 98a Avenue

Surrey, British Columbia

Fantastic family home in a very quiet cul-de-sac in North Surrey. Well built & maintained home boasts 4 beds & a large games room w/wet bar upstairs. Expansive primary suite has a gas fireplace, large walk-in closet & huge ensuite w/jacuzzi tub. Downstairs has an open kitchen w/granite countertops, gas range & spacious eating nook. Also on the main level are traditional family & living rms, formal dining rm & a den that could be a 5th bedroom. Double garage has all the storage room you need & is ready for your EV charger. Recently upgraded furnace, AC & tankless hot water on demand system. The big ticket items are done & the home is move in ready or you could reno to make it your dream home. Close proximity to Hwy 1, schools, & tons of shopping. OPEN HOUSE SUN. JUNE 30th 1-3PM. (id:48205)

4 Bedroom 3 Bathroom 3278 sqft
For sale
$1,550,000
9110 128 STREET, surrey, British Columbia

9110 128 Street

Surrey, British Columbia

LOCATION! LOCATION! Welcome to this beautiful home located in one of the most desirable areas in Surrey. This 11-bedroom, 5-washroom house sits on a large 7281-square-foot lot. The main floor has a master bedroom, a spacious living room, dining rooms, and 3 full washrooms. The basement offers four good-sized bedrooms with three kitchens. The house is completely renovated with new high-end stainless steel kitchen appliances, flooring, modern lighting fixtures, and bathroom tubs. This home has multiple mortgage helper suites with separate entrances and laundry. Do not miss the opportunity and make this beautiful home your dream home. (id:48205)

11 Bedroom 5 Bathroom 3505 sqft
For sale
$1,549,999
11126 147A STREET, surrey, British Columbia

11126 147a Street

Surrey, British Columbia

This beautiful home in Bolivar Heights offers a total of 6 bedrooms and 3 bathrooms. It is located on a massive lot. The entire home has been freshly renovated, including the basement suites. Two mortgage helper (2+1) suties. 3 level home potential, as many newly built 3 level homes in surrounding areas. (id:48205)

6 Bedroom 3 Bathroom 2175
For sale
$1,549,888
14885 92 AVENUE, surrey, British Columbia

14885 92 Avenue

Surrey, British Columbia

FRASER HWY CORRIDOR!!! Fleetood/Green Timbers. Lovingly cared for 1 owner home! Nearly 2200 sq ft 4 bdrm 2 baths on over 7200 sq ft lot in FAST DEVELOPING AREA. Part of Fleetwood Town Center plan. Bring your design ideas for for updates or buy now and hold for future development of Skytrain. Bsmt w/sep entry for pot. mortgage helper. Thermal windows done, walk to shopping, schools and transit. showings by apptmt (id:48205)

4 Bedroom 2 Bathroom 2170 sqft
For sale
$1,549,800
12370 95 AVENUE, surrey, British Columbia

12370 95 Avenue

Surrey, British Columbia

Nicely kept Basement Entry house of 6 bedrooms and 2 bathrooms is available now in the desired neighborhood of Queen Mary Park Surrey. On the main floor you will have a separate living and family area making it perfect for get-togethers, Kitchen with Eating Area, 3 bedrooms, a sundeck perfect for outdoor BBQs. Also, features a 2 Bedroom Suite and a Bedroom for your own use on the lower level. House is close to everything such as Parks, Schools, and Transit. Do not miss out on this amazing opportunity. (id:48205)

6 Bedroom 2 Bathroom 1770 sqft
For sale
$1,549,000
19129 67A AVENUE, surrey, British Columbia

19129 67a Avenue

Surrey, British Columbia

Coach home in Clayton Heights, offering modern convenience and classic charm. The main house features spacious living and dining areas with high ceilings and large windows, a gourmet kitchen with stainless steel appliances and granite countertops, 3 bedrooms including a primary suite with a walk-in closet and en-suite bathroom. A 1 bedroom basement suite (option to add second bed) with a separate entrance, full kitchen, living area, bedroom, bathroom, and in-suite laundry, plus a self-contained 1-bedroom coach house suite with a private entrance and dedicated parking space. Additional features include a detached double garage and low maintenance back yard. Conveniently located within walking distance to major shopping, restaurants, all levels of school and so much more. (id:48205)

5 Bedroom 5 Bathroom 2810 sqft
For sale Open House
$1,549,000
15863 80 AVENUE, surrey, British Columbia

15863 80 Avenue

Surrey, British Columbia

Stunning property just in front of Fleetwood Park. Sitting on a massive 7,900 sqft South Facing Lot, this home offers unparalleled investment potential with three separate suites each with their own entrance. Recent upgrades adorn this residence - 3 kitchens and 5 bedrooms. South Facing eating area in by window overlooking the park. Long life fiberglass roof installed on 2005. Furnace was replaced in 2010. Conveniently located just a short stroll from Walnut Road Elementary and the esteemed Fleetwood Park Secondary. With meticulous landscaping and a superior location, this charming south-facing abode promises a cozy retreat you won't miss it! Primary Fleetwood Location with future development potential according to NCP. openhouse June 29-30. 2p-4p (id:48205)

5 Bedroom 4 Bathroom 2502 sqft
For sale
$1,549,000
15864 98 AVENUE, surrey, British Columbia

15864 98 Avenue

Surrey, British Columbia

HOT BUY! Exciting home ownership opportunity! .Well-cared for residence quiet location yet close to Guildford Town Centre, T&T, community center, William F Davidson Elementary & North Surrey Secondary. .Large corner lot, 2 separate driveways (98 Ave & 158B St), fully fenced with gate access for detached garage 29x19 & concrete parking pad for RV/utility/work vehicles 33x15 & garden shed, both garages 240V plug can be use for EV charging .Private south facing backyard with ample garden, enjoy relaxing in Hot Tub, entertaining & BBQ's on the covered deck; metal roof awning with glass inserts. .3BR/2 full BTH above, 1BR+Den/1 full BTH main, Extensive Updates completed by professionals .Significant future potential to subdivide or renovate detached garage into Coach House w/suite as per provincial density legislation or, lower level offers easy suite conversion for multi-generational families, there is also the potential for daycare facility. .Few homes have the extras you have been looking for! (id:48205)

4 Bedroom 3 Bathroom 2143 sqft
For sale
$1,549,000
15915 101 AVENUE, surrey, British Columbia

15915 101 Avenue

Surrey, British Columbia

Renovated home in a quiet and central location comes with a Brand new 1 bedroom suite. Walking distance to Guildford Town Centre and both levels of excellent schools. Walk to Tynehead Park. Several upgrades Brand New Kitchen, newer windows and exterior doors, central air conditioning, furnace, gas fireplace, large ensuite shower, 2 brand new laundries and more. The high crawlspace provides lots of extra storage. Good size corner lot with very private backyard. All measurements and ages are approximate only. OPEN HOUSE Sunday 1230 PM to 230 PM. Offer if any will be presented on Wednesday June 12 at 6 pm. (id:48205)

4 Bedroom 3 Bathroom 2125 sqft
For sale
$1,548,888
16347 95 AVENUE, surrey, British Columbia

16347 95 Avenue

Surrey, British Columbia

Great investment opportunity! This massive 3900 sqft 5 bed 3 bath rancher with bsmt offers a master on the main with a full 4 piece ensuite with soaker tub. Two additional bedrooms plus a games/flex room above the garage for your kids to play their video games or to use as a study. Great open layout leading to a covered patio where you have a very private backyard backing on to green space. Tear down and build your dream home on this MASSIVE 8400 sqft house or simply renovate and live for years to come. 2 bedroom mortgage helper along with a secondary open area waiting for your bar ideas or additional bedrooms as a multiple sources of income, the ideas and opportunities are endless. Less than 10 mins from Guildford mall and less than 10 mins from HWY 1. Book your private showing today (id:48205)

5 Bedroom 3 Bathroom 3906
For sale
$1,548,800
14693 ASHFORD PLACE, surrey, British Columbia

14693 Ashford Place

Surrey, British Columbia

Welcome to your future home in the Heart of Surrey, where the perfect blend of convenience and potential awaits! This captivating property boasts a GENEROUS 9692 SQFT LOT, a large canvas for potential builders! Transform this property into your dream home or consider it as a lucrative long-term investment, with its flexible layout and VACANT mortgage helper. Buy now and hold in a centrally located part of Surrey, this property will benefit from the upcoming Skytrain 152 Station. (id:48205)

8 Bedroom 2 Bathroom 1988 sqft
For sale
$1,545,800
8922 156 STREET, surrey, British Columbia

8922 156 Street

Surrey, British Columbia

Discover a fantastic opportunity with this well-kept home in the heart of the Fleetwood area. This spacious 7,967 sq ft lot features a home with 4 bedrooms and 3 bathrooms, perfect for your family's needs. Located in a developing neighborhood, this property is situated in the sought-after Fleetwood Plan area. The large flat backyard is ideal for family time, providing a perfect space for outdoor activities and relaxation. The has designated the area for up to 6 stories, offering opportunities for future development. The property includes an unauthorized 1 bedroom suite, perfect for extra income or accommodating extended family. The designated low-rise area with an FAR of 2.2 (to be verified with City authorities) makes this a smart long-term investment with future land assembly potential. (id:48205)

4 Bedroom 3 Bathroom 1954 sqft
For sale
$1,539,000
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 sqft
For sale
$1,538,000
9179 161 STREET, surrey, British Columbia

9179 161 Street

Surrey, British Columbia

Welcome to your dream home offered FOR SALE in the heart of Fleetwood, Surrey! This charming 2-level detached house, built in 1989, offers 4 spacious bedrooms and 3 bathrooms, perfect for a growing family. Nestled in a quiet cul-de-sac, the property boasts a large backyard, ideal for outdoor activities and gatherings. Enjoy the convenience of a double car garage and a driveway that accommodates 4-5 cars. Located near top-rated schools, churches, parks, highways, Guildford Shopping Mall, and a golf course, this home combines comfort with accessibility. Don't miss out on this fantastic opportunity-come check it out! (id:48205)

4 Bedroom 3 Bathroom 2092 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