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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
$1,479,000
9157 144A STREET, surrey, British Columbia

9157 144a Street

Surrey, British Columbia

Well cared renovated 2 level home more than 2000 sq ft with 3 bedrooms & 3 bathrooms on a large rectangular lot. Separate living and dining area with gas F/P for cozy entertaining, Bright eat-in kitchen features quartz counters & overlooks the family room. Home has been renovated with Laminate floors, quartz countertop, updated bathrooms, stainless steel appliances and more!. Family room has a slider to the west facing fully fenced backyard. All measurements, age and sizes are approximate. The buyer or the buyer's agent should verify if important. Open house May 19, 2:00 PM-4:00 PM. (id:48205)

3 Bedroom 3 Bathroom 2080
For sale
$1,469,000
15153 96A AVENUE, surrey, British Columbia

15153 96a Avenue

Surrey, British Columbia

Gorgeous family home. CORNER LOT, 4 BED/3 FULL BATH home with private back yard and 2-car garage... Situated in a quiet neighborhood. Minutes to Guildford Mall, Schools, Hwy 1, Port Mann & Golden Ears Bridges, restaurants, all other amenities! Close to future Skytrain at 104 and 152 St. Nice open/sunny entrance with skylight above. Spacious master bed with big ensuite & 2nd bedroom on main floor. 2 beds/1 bath above. Roof 2005, gas F/P & additional storage beside garage, & under stairs. Updates include: Windows, hot water tank/furnace in 2019, laminate floors, new kitchen & bath, custom closet organizers, hardi-plank exterior siding, in/ out lighting, patio, & gutters. Cul-de-sac at end of street with plenty of guest parking! Call today! OPEN HOUSE APRIL 27th and 28th from 2-4PM. (id:48205)

4 Bedroom 3 Bathroom 2061
For sale
$1,468,800
16239 SOUTHGLEN PLACE, surrey, British Columbia

16239 Southglen Place

Surrey, British Columbia

Impeccably kept & nicely updated 3 bedroom, 3 bathroom rancher in the prestigious Fraser Heights on a ultra quiet no thru street in an incredible neighborhood. Bonus 845 sqft basement ideal for workshop, hobbies & storage. Traditional layout with a dining room & living room with hand scraped hardwood floors & a charming ledgestone fireplace. Enjoy the natural light that floods in through the double doors in the family room leading to the partly covered east facing patio & large private yard. Bright kitchen with island & bay window eating area. Spacious primary bedroom boasts his & hers closets & an ensuite with oversized shower, soaker tub & dual sinks. This home is perfect for those looking for comfort & convenience in a sought-after location. A must see! (id:48205)

3 Bedroom 3 Bathroom 2755
For sale Open House
$1,468,000
8932 143A STREET, surrey, British Columbia

8932 143a Street

Surrey, British Columbia

1st time on the market, this House is a wonderful place to call Home. This well maintained & renovated 2 level home w/4 bedrooms & 3 full bathrooms on a large large corner lot, features a separate Living room & Dining room off of the large updated Kitchen that opens up onto your covered patio & private backyard for all your family gatherings & entertaining. A few steps down enter a great Family room with a bedroom/office and 3 pc bathroom. Attached you will find a double car garage & if that isn't enough storage room, below there is a huge crawl space. EASY TO SHOW. OPEN HOUSE Saturday May 18th Noon to 2PM & Sunday May 19th 11AM to 1PM (id:48205)

4 Bedroom 3 Bathroom 2249
For sale Open House
$1,465,000
9401 124A STREET, surrey, British Columbia

9401 124a Street

Surrey, British Columbia

Investors and Builders! A well-maintained basement entry house with 6 bedrooms and 3 bathrooms is now available in the desirable neighborhood of Queen Mary Park, Surrey. The main floor offers separate living and family areas, ideal for gatherings, a kitchen with an eating area, 3 bedrooms, and a sundeck perfect for outdoor BBQs. Additionally, it features a 2-bedroom suite and a bedroom for personal use on the lower level. The house is conveniently located near parks, schools, and transit. Don't miss out on this amazing opportunity with the potential to generate $4,500-$5,000 in rent. The property is close to bus stops, shopping centers, grocery stores, and schools, providing both growth and convenience. Hold onto this gem now. OPEN HOUSE MAY 19 2-4PM (id:48205)

6 Bedroom 3 Bathroom 2497
For sale
$1,460,000
14323 115 AVENUE, surrey, British Columbia

14323 115 Avenue

Surrey, British Columbia

Elevated Living in Bolivar Heights! Step into luxury within this meticulously crafted 3700sqft custom-built 6 bedroom sanctuary spanning three levels. Built in 2013, this home offers in-floor radiant heating throughout. As you enter, be greeted by the grandeur of a spacious front office adorned with hardwood floors. The open-concept Chef's kitchen merges seamlessly with the inviting living and dining areas, leading to a deck overlooking your private fenced yard and views of the Fraser River. Upstairs, find two spacious bedrooms and a palatial master suite with an ensuite bathroom. The walk-out basement features two 1-bedroom suites with private entrances and shared laundry facilities. Please Contact your Realtor for showings schedule! (id:48205)

6 Bedroom 5 Bathroom 3700
For sale
$1,450,000
12712 98 AVENUE, surrey, British Columbia

12712 98 Avenue

Surrey, British Columbia

INVESTOR ALERT! This split entry home sits on a beautiful 8,587 sqft lot on a quiet no thru street in Cedar Hills. The 62x138 lot has southern exposure in private fenced backyard. The home A frame style split entry home features approximately 1,900 sqft of living area with 3 bedrooms on the main, a nice sized living room with natural gas fireplace and a oversized fully covered sundeck overlooking backyard. Basement features a den (could be 4th bedroom) and a large recroom with bar setup. Single garage ample parking including side RV Parking. This home is ready for your ideas or a great building lot for your new dream home. (id:48205)

3 Bedroom 2 Bathroom 1939
For sale
$1,450,000
11299 150 STREET, surrey, British Columbia

11299 150 Street

Surrey, British Columbia

Check out this dreamy family nest with a bonus mortgage helper! Nestled on a ginormous 9,400sqft lot across from a treed park, this home boasts two handy sheds/garages and a carport that could be transformed into another garage. Step inside to admire stunning original hardwood floors and a spiffy updated kitchen with shiny newer appliances. Upstairs, 3 bedrooms await, while downstairs has a separate entrance to a suite with a spacious kitchen, a bedroom, a den, and the potential for a second bedroom. No need to break a sweat this summer - a cool heat pump is on standby. Venture outside to discover a hot tub, a firepit, covered patios, and sun-soaked decks. And hey, there's oodles of parking space for boats, trailers, or wanderlust campers! (id:48205)

4 Bedroom 2 Bathroom 2122
For sale Open House
$1,449,800
14335 GLADSTONE DRIVE, surrey, British Columbia

14335 Gladstone Drive

Surrey, British Columbia

A beautiful 2-Storey house of 5 bedrooms and 3 bathrooms is available now in the desired neighborhood of bolivar heights. Well maintained house in a quiet park setting. It is close to everything including Guildford town centre, transit stop and Ellendale Elementary school. Invergarry Park and Invergarry mountain bike park is at walking distance. Do not miss out on this amazing opportunity. (id:48205)

5 Bedroom 3 Bathroom 1942
For sale
$1,449,800
16376 96 AVENUE, surrey, British Columbia

16376 96 Avenue

Surrey, British Columbia

Welcome to this beautifully updated 4BR 3.5BTH Fleetwood detached. A grand foyer welcomes you home, leading in to your inviting living room overlooking a generous front yard facing Fleetwood Tynehead Park. Your bright, gourmet eat-in kitchen features sleek, stainless steel LG appliances, quartz counters, maple cabinets, tiled back splash & sizable island with breakfast bar. Sunken family room opens onto your fully fenced, southern exposed backyard with lane access. Second floor is reserved for naturally well-lit bedrooms & refreshed bathroom with really good size master bedroom a walk-in closet with attach washroom. Really Conveniently located, you'll be steps to Serpentine Heights Elementary, North Surrey Secondary & easy access to highway 1 and major routes. (id:48205)

4 Bedroom 4 Bathroom 2444
For sale
$1,449,777
15032 RAVEN PLACE, surrey, British Columbia

15032 Raven Place

Surrey, British Columbia

A lot of potential here in this well kept Gem.ONE LEVEL LIVING ~ 3 Bedroom rancher located in quiet Birdland neighborhood. Large 7200 sq ft lot with plenty of parking and lane access. Great location close to school's, recreation, entertainment, shopping and more! Book your appointment today (id:48205)

3 Bedroom 1 Bathroom 1142
For sale Open House
$1,449,000
13925 116 AVENUE, surrey, British Columbia

13925 116 Avenue

Surrey, British Columbia

This marvellous 8 bedroom 4 bathroom fully renovated in 2021 sits on a 9715 sq/ft lot i n Bolivar Heights. Situated in a great, quiet, family oriented neighborhood. Offers a beautiful panaromic view of mountains and partial view of Fraser River. Main floor boasts a spacious living room, dining room, kitchen and 4 bedrooms, 2 full bathrooms fully upgraded with new showers, tiles & new sanitary. New laminate and tile floors on the main and in the basements. New paint, new windows with new blinds. New led lights, large sundeck with huge rear yard and a big workshop. Downstairs have (2+1) bedroom fully finished basements with separate entry for mortgage helper. Big front and back yard. Hurry up before it's gone. ROOF , HOT WATER TANK , FURNACE ALL 2021..... (id:48205)

8 Bedroom 4 Bathroom 2433
For sale
$1,449,000
9460 152 STREET, surrey, British Columbia

9460 152 Street

Surrey, British Columbia

Great Potential Development property as This huge over 8200 sqft property is situated close to the future Sky Train Station. Its central location provides easy access to amenities such as Save On Foods, Guildford Mall, Theatres, Walmart, Rec Centre, parks, schools, bus stops and much more. Welcome to your charming rancher nestled in the coveted Fleetwood neighborhood, . Boasting 3 bedrooms and 2 bathrooms, this single-level home offers convenient and comfortable living. Situated on an expansive 8200 sq ft lot, there's plenty of space for outdoor enjoyment and potential expansion. The interior features a bright and airy layout, with a cozy fireplace in the living room. The well-appointed kitchen overlooks the huge backyard, perfect for gatherings and relaxation. (id:48205)

3 Bedroom 2 Bathroom 1427
For sale
$1,449,000
13833 114 AVENUE, surrey, British Columbia

13833 114 Avenue

Surrey, British Columbia

RANCHER WITH WALK OUT BASEMENT IN popular BOLIVAR HEIGHTS !!! This stunning 6 bedroom 4 bathroom home offers bright open floor plan with numerous updates. California shutters, refinished hardwood, nice kitchen, custom built shelving. Main floor offers lots of light with large windows looking onto private 8957sq ft. lot. Downstairs offers numerous updates with lots of space and light. Located on very quiet street. very close to elementary school. (id:48205)

6 Bedroom 4 Bathroom 2264
For sale
$1,448,000
11216 143A STREET, surrey, British Columbia

11216 143a Street

Surrey, British Columbia

Attention First Time Home Buyer Builder Developer this 10,200 square feet lot with appx. 78' frontage Potential to build duplex. This two story 2 bedroom house with extra large family room and spacious back yard for your summer party. Close to Invergarry Park, Guildford Town Centre, Central City, walking Distance to schools. Community Centre and Buses nearby. Quiet neighborhood of Bolivar Heights. Has Potential for 2-bedroom suit in unfinished basement. (id:48205)

3 Bedroom 1 Bathroom 2087
For sale
$1,438,800
9176 APPLEHILL CRESCENT, surrey, British Columbia

9176 Applehill Crescent

Surrey, British Columbia

Introducing this amazing 2-Story House situated on a peaceful residential street, conveniently positioned near schools and public transportation. The main floor offers a generously-sized living room, a well-appointed dining room, and an ample kitchen with an accompanying eating area. Additionally, this floor includes three spacious bedrooms, including a Master bedroom with a private ensuite, complemented by a common washroom. Descending to the lower level, you'll find a capacious Recroom and an adjoining other room, a full washroom, a designated laundry area and an oversized attached double garage. Downstairs has potential for in-law suite. Outside, you'll find a Large sundeck, and a private backyard, perfect for outdoor activities. (id:48205)

3 Bedroom 3 Bathroom 1820
For sale Open House
$1,435,000
16118 79 AVENUE, surrey, British Columbia

16118 79 Avenue

Surrey, British Columbia

Welcome to your new home in the highly sought after Hazelwood Hills! This great 2 story home boasts over 2100 sq/ft of living space on a 7100 sq/ft lot that backs on to green space. Attentions downsizers, there are 4 bedrooms and 3 full bathrooms including 2 large primary bedrooms with one of them on the main floor! This spectacular location is close to great schools, great shopping and restaurants as well as Surrey Leisure center and juat a block away from Fleetwood Park and everything it has to offer. (id:48205)

4 Bedroom 3 Bathroom 2138
For sale Open House
$1,425,000
18895 70 AVENUE, surrey, British Columbia

18895 70 Avenue

Surrey, British Columbia

DESIRABLE CLAYTON VILLAGE & FIRST TIME FOR SALE! This spectacular home built by Benchmark sits on a Beautifully landscaped Corner Lot w/ Cedar Hedging, Wrap around deck & garden beds + Perennials! Private, high fenced yard for Private, outside summer enjoyment! Great Rm plan on main w/bright Bay windows in your kitchen, SS appliances, updated granite counters + B/I Surround sound in your fam. rm for movie nights! Lndry Rm + Office/reading rm on the main too! Above is Finished w/4 Bdrms + Modern Ensuite incl. side x side sinks, Rain shower & Soaker tub! Other UPDATES incl. California Closets, California Shutters, Built-ins, Wine Fridge, Heat Pump w/ A/C, Exterior Paint, Fencing, Front Deck & more! BSMT Fully FIN. w/ SEP Entry,1Bdrm, Bthrm, Rec Rm + Wet Bar! O.H. SAT MAY 18/SUN MAY 19th 3-5 (id:48205)

5 Bedroom 4 Bathroom 2828
For sale
$1,425,000
9188 147 STREET, surrey, British Columbia

9188 147 Street

Surrey, British Columbia

Incredible Opportunity! 8100 sq. ft. Lot and 3 Bed, 3 Bath 2200 sq. Ft. House. Spacious living, dining, family, and rec rooms. Enclosed carport and workshop. Ample parking, near shopping & transit. New roof approx 5 years old. Development potential, OCP townhouse zoning. Schedule a viewing today. (id:48205)

3 Bedroom 3 Bathroom 2220
For sale
$1,415,000
8890 139A STREET, surrey, British Columbia

8890 139a Street

Surrey, British Columbia

Location! Location! Location! Amazing central Surrey Location. Conveniently located close all amenities, walking distance to Sikh Temple, Hindu Temple, Schools and transit. Close to Surrey Memorial Hospital, Jim Pattison Medical Centre, and SFU. Great investment potential! Current bungalow is 3 bed 1 bath, with a large 2 bay garage and workshop with washroom. Back yard has lots of space, with a deck and green space. 7603 Sq. Ft Lot offers fantastic development potential for redevelopment. Call today for a showing! (id:48205)

3 Bedroom 2 Bathroom 1092
For sale Open House
$1,400,000
11803 96A AVENUE, surrey, British Columbia

11803 96a Avenue

Surrey, British Columbia

Newly upgraded investment opportunity in Royal Heights, Surrey! 11803 96A Ave boasts 4 units, each with separate entries, kitchens, and bathrooms. With over 10+ bedrooms and 4 baths, it's perfect for cashflow-minded investors. Generating $9,500+ monthly rental income, it's a lucrative asset in a high-demand market. Close to transit, schools, and shopping, it offers convenience and value. Don't miss this chance for a holding property, future development, or a solid 7%-8% capitalization rate. Rental details: 1) Upstairs-3 bed: $2750 2) Upstairs-2 bed $2150 3) Downstairs-3 bed $2750 4) Downstairs-2 bed $1950; damage deposit half month of rent every unit. (id:48205)

9 Bedroom 4 Bathroom 3170
For sale
$1,400,000
12720 114B AVENUE, surrey, British Columbia

12720 114b Avenue

Surrey, British Columbia

This 2 bedroom rancher is situated on a quiet street between Bridgeview park, playground & waterpark and Bridgeview community center. Centrally located, this property is half a block to an Elementary school and a short walk to transit and Skytrain. The property needs structural repairs on foundation, flooring and perimeter sill plates. Home has a newer roof and brand new hot water tank. Contact the city of Surrey for information on development potential. (id:48205)

2 Bedroom 1 Bathroom 790
For sale Open House
$1,399,900
13653 112A AVENUE, surrey, British Columbia

13653 112a Avenue

Surrey, British Columbia

ALL ABOUT THE LOCATION: A lot with a rectangular, 72 Foot frontage, in-between two big three story houses. Super maintained home in Bolivar Heights with a view of the water & mtns. Loc. on a dead-end St., 1/2 Block to schools & transp. This home boasts a fully fenced yard. Basement has a separate entrance and is roughed in for a future in-law suite. Can easily add a mortgage helper, and much more. Don't miss out, these one-of-a-kind properties aren't available very often! (id:48205)

4 Bedroom 3 Bathroom 2175
For sale Open House
$1,399,900
15405 93 AVENUE, surrey, British Columbia

15405 93 Avenue

Surrey, British Columbia

Exquisitely renovated rancher on the Fleetwood/Guildford border in Berkshire Park. This 4 bed, 4 bath home offers elegant details throughout. New roof, laminate flooring, kitchen with stainless steel appliances, quartz countertops, and fresh paint. Features include a spacious living room with floor-to ceiling fireplace, vaulted cedar ceiling, and a family room adjacent to the kitchen. The master bedroom boasts an ensuite with a soaker tub and walk-in closet. Very well maintained private backyard. Close to schools, parks, and proposed Skytrain Station. Includes a 1 bedroom rental suite for additional income. Timeless charm meets modern upgrades in this remarkable home. Bonus feature- ideal driveway for RV Parking. (id:48205)

4 Bedroom 4 Bathroom 2047
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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