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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
$1,295,000
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
$1,289,900
10327 125 STREET, surrey, British Columbia

10327 125 Street

Surrey, British Columbia

First time on the market in sought after Saint Helens Park. beautiful 8600 sq ft view lot over looking New Westminster and the North Shores mountain featuring over 2000 sq ft with updated kitchen and appliances, newer roof and Private yard. This home and 4 bedrooms and 2 bathrooms with a walk out basement. Large balcony that stretches the entire homes overlooking your huge private backyard which is perfect for family get togethers and summer BBQs. Very sold home built to last, come take a look in person and see the possibilities. (id:48205)

4 Bedroom 2 Bathroom 2098 sqft
For sale Open House
$1,288,800
66 17033 FRASER HIGHWAY, surrey, British Columbia

66 17033 Fraser Highway

Surrey, British Columbia

Welcome to this luxury home -Liberty at Fleetwood! This spacious 3-story house like home has 4 bedrooms + 4 bathrooms, side by side garage, with over 2300sq ft open concept living space! Enjoy the masterpiece of modern architecture featuring with 19-foot ceilings, spacious kitchen, stainless steel appliances, stain & scratch resistant quartz countertops, private walkout backyard, and yes, there's air conditioning! The high ceiling and the large windows bring in lots of natural light. 3-story clubhouse with fully equipped recreation room/party room. Walking distance to parks, schools, shopping, & the future Skytrain station. *Open house: Sat. the 29th 2-4pm. (id:48205)

4 Bedroom 4 Bathroom 2383 sqft
For sale Open House
$1,285,000
14023 114 AVENUE, surrey, British Columbia

14023 114 Avenue

Surrey, British Columbia

Discover an exceptional investment opportunity in the heart of Bolivar Heights, North Surrey. This meticulously maintained rancher offers 3 bedrooms and 3 bathrooms. The property features a newer metal roof and a fully insulated attic for durability and energy efficiency. Set on a 7,331 sq ft lot, it offers ample green space and privacy, with gated access for added security. Conveniently near the South Fraser Perimeter Road and Highway 1, commuting is easy. Families will appreciate the proximity to schools and parks. With peekaboo views, three-quarter-inch maple hardwood floors throughout, maple laminate in bedrooms and hallway, and soft-close IKEA kitchen cabinets, this charming rancher is a lucrative investment.Open House: Saturday and Sunday, June 29th and 30th, from 2:00 to 4:00 PM. (id:48205)

3 Bedroom 3 Bathroom 1204 sqft
For sale
$1,285,000
11385 137A STREET, surrey, British Columbia

11385 137a Street

Surrey, British Columbia

BRAND NEW LISTING! This large 7925 sqft property in the highly desired Bolivar Heights area is a block away from two schools, parks, and minutes from shopping with easy access to HWY 1. Lots of windows allow the natural light to flow in. With a MASSIVE covered outdoor patio and deck, a fish pond and views that stretch from New Westminster all the way to Port Coquitlam including the Mountains, it's perfect for BBQ's and entertaining guests. This home is perfect to buy and rent or live in and rent.Viewings by appt only. 24 hrs notice needed for the suite. 3D Tour: https://show.youriguide.com/create?url=https%3A%2F%2Fyouriguide.com%2F11385_137a_st_surrey_bc Video: https://www.dropbox.com/scl/fi/qws9pkgdmll6d6u3gzb28/11385-137a-Surrey.mov?rlkey=4tfcy11o8w9s0ff746swjq8p4&dl=0 (id:48205)

2 Bedroom 2 Bathroom 1927 sqft
For sale
$1,273,700
11426 141A STREET, surrey, British Columbia

11426 141a Street

Surrey, British Columbia

This renovated rancher is a gem! Situated on a sizable 8155 sq ft lot and nestled on a quiet no-through road, it offers the tranquility of backing onto a ravine, providing exceptional privacy. The meticulous care evident in the upgrades, from the commercial grade vinyl plank flooring to the fresh paint and trim, ensures a modern and inviting atmosphere throughout. With four bedrooms, there's ample space for a family or guests, while the new kitchen and appliances promise convenience and style. The bonus of a spacious deck with composite decking adds an outdoor oasis perfect for relaxation or entertaining. It seems like a wonderful opportunity to settle into a home without the hassle of renovating. OPEN HOUSE APRIL 27 FROM 2-4 PM (id:48205)

4 Bedroom 1 Bathroom 1310 sqft
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
For sale
$1,250,000
20 15860 82 AVENUE, surrey, British Columbia

20 15860 82 Avenue

Surrey, British Columbia

Welcome to desirable Oak Tree! PRIME location, with future skytrain station built in 2028, close to shopping, parks, schools! Gorgeous fully renovated 3 beds, including a luxurious size primary suite, family and living rooms, every corner radiates comfort and relaxation, 6 parking spots in total! Expansive kitchen space, a culinary haven furnished with sleek stainless steel appliances, new countertops and new backsplash. New floors throughout, new doors, new crown moldings, new painting, new blinds and new patio doors make this home move-in ready. New sinks, faucets, toilets, appliances and new hot water tank are a huge bonus! Added shelves in closet, lots of crawl space storage. And much more! Re-piping is done in 2024. Tour: https://www.cotala.com/75561 (id:48205)

3 Bedroom 3 Bathroom 2208 sqft
For sale
$1,250,000
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)

4 Bedroom 2 Bathroom 2637 sqft
For sale
$1,250,000
43 12585 104A AVENUE, surrey, British Columbia

43 12585 104a Avenue

Surrey, British Columbia

Yale Gardens, Beautiful New development in North Surrey. One of the bigest 3-level , 4 bed, 3.5 bath townhouse appr. 2600sq ft (including Balcony & garage) Modern open concept layout with exquisite high-end finishes. Experience the luxury of stainless steel appliances, gas ranges, quartz countertops, custom millwork, & soft-close cabinets. Separate entry suite offers flexibility & potential rental income. Custom millwork & built-in bar cabinet with the comfort of energy-efficient heating & air conditioning. Centrally located near parks, schools, Scott Road, Surrey Central Station, SFU Surrey, proposed UBC Campus, & Guildford Mall. Take advantage of the courtyard, playground, & gym. Don't miss this exclusive opportunity to Own this beautiful Townhouse. (id:48205)

4 Bedroom 4 Bathroom 2071 sqft
For sale
$1,249,900
28 12585 104A AVENUE, surrey, British Columbia

28 12585 104a Avenue

Surrey, British Columbia

* WELCOME TO YALE GARDENS. * Beautiful Brand New 3 stories Townhouse , includes 4 Bedrooms, 4 Bathrooms, Living Room, Kitchen, huge Island, self closing cabinets, Open Layout, Quarts Counter Tops, Air Conditioning, Top notch Stainless Steel Appliances, Smart home System, Forced air heating, Lots of storage and Lots of cabinets, Amenities includes; Gym, Playground, Courtyard and much more to enjoy. Centrally Located, walking Distance to City Central, Transit, minutes away to SFU, Shopping, Both Levels of schools, Gateway Sky Train Station, Walking distance to King George and easy excess to All Major Routes. easy to show. (id:48205)

4 Bedroom 4 Bathroom 1873
For sale
$1,249,000
12707 113B AVENUE, surrey, British Columbia

12707 113b Avenue

Surrey, British Columbia

Welcome to this spacious 4 bedrooms 3 bath house with 1 bed mortgage helper. Tastefully renovated with an open floor plan, new quartz countertops, new kitchen cabinets, glass slate backsplash, new flooring, a modern gas-insert fireplace, SS appliances and beautiful decorative walls for your art work displays. The backyard features a custom built oversized covered 16'x15' gazebo on a massive 18'x32' deck for your long-awaited summer BBQ gatherings of any size. This home is centrally located with walking distance to the Scott road skytrain station & the new North Surrey Rec centre and quick access to the Pattullo Bridge & Hwy 17. Offers as they come! (id:48205)

4 Bedroom 3 Bathroom 1676 sqft
For sale
$1,249,000
14710 101A AVENUE, surrey, British Columbia

14710 101a Avenue

Surrey, British Columbia

HOT HOT LISTING AROUND THE BLOCK! Asking price below the assessment value at $184,000! Don't miss out on this exceptional Invesment opportunity in WEST GUILDFORD! This gorgeous two-level single-family home, nestled in a peaceful cul-de-sac surrounded by beautiful greenery, features 3 bedrooms, 2 1/2 bathrooms, 2 kitchens, a sun deck ideal for outdoor relaxation, separate storage space, and single garage. Additionally, the property includes a separate bachelor suite, MTD helper. further enhancing its appeal and versatility. Enjoy the convenience of being within walking distance from the bus stop, Hjorth Road Park, and St. Luke Lutheran Church, as well as a short drive from amenities such as Guildford Rec Centre, Landmark Cinemas Guildford, and Walmart easy exit to Vancouver and much more. (id:48205)

3 Bedroom 2 Bathroom 1288
For sale
$1,249,000
12609 113 AVENUE, surrey, British Columbia

12609 113 Avenue

Surrey, British Columbia

Large 8000+ square foot development 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 privately. (id:48205)

2 Bedroom 1 Bathroom 1040
For sale
$1,200,000
10475 125 STREET, surrey, British Columbia

10475 125 Street

Surrey, British Columbia

Stop and look at this amazing renovated family home just waiting for you to move right in. From the beautiful kitchen, laminate floors through out, warm colours, crown moldings and lots of extras, this is the one. Boasting 3 lg bedrooms up, a big bright living room and a cozy family room upstairs. A completely separate, fully finished bsmt is ready to go for a suite & just needs a stove. Imagine entertaining in this beautiful private yard w inground pool and all the patio area to enjoy the summers. There is tons of extra storage space & sheds along with a fantastic extra high garage to store those special toys. This is a great home to get into, easy to show so call your Realtor for a private showing. (id:48205)

4 Bedroom 2 Bathroom 2645 sqft
For sale
$1,200,000
13691 113 AVENUE, surrey, British Columbia

13691 113 Avenue

Surrey, British Columbia

Opportunity for builder! Centrally located rectangular and flat lot with a view and two road frontages, listed below accessed value. Near elementary school, traditional school, transit and shopping. Easy access to Pattullo bridge. Make your call today! (id:48205)

2 Bedroom 1 Bathroom 1976 sqft
For sale
$1,199,999
13909 114 AVENUE, surrey, British Columbia

13909 114 Avenue

Surrey, British Columbia

This Rancher sits on a spacious corner lot of over 8200 sq ft, nestled in a prime location close to everything - schools, transit, shopping centers, and more. With 4 beds and 1 bath, it offers prime potential for renovation or building a new huge house. Discover the possibilities of this coveted location today. (id:48205)

4 Bedroom 1 Bathroom 1355 sqft
For sale
$1,199,900
43 16358 90 AVENUE, surrey, British Columbia

43 16358 90 Avenue

Surrey, British Columbia

RARELY AVAILABLE 3 bed + flex townhouse with all of the bells and whistles of a detached home! Fenced yard, double garage, low strata fees. Onyx & Ivory: Set in a prestigious neighbourhood, surrounded by greenery. High-end finishes incl: European appliances, gas stove, large island w/ waterfall, quartz counters/backsplash, LED pot lights, designer light fixtures & e-poxy in garage. 3 levels. Flex on main flr. Open kitchen/living/dining & powder room + balcony on 2nd level. Upstairs you a fantastic primary suite w/ a stunning ensuite w/ separate soaker tub + shower, duel sinks & walk-in-closet. Two other spacious bedrooms upstairs w/ full bathroom + side-by-side washer/dryer. Wide-plank oak laminate throughout, forced air heating, hot water on demand + central A/C & millwork incl. Est. Completion is early 2025. Pets & rentals allowed. Only a 5% deposit! (id:48205)

3 Bedroom 3 Bathroom 1835
For sale
$1,190,000
12637 115 AVENUE, surrey, British Columbia

12637 115 Avenue

Surrey, British Columbia

A Cute little house sits in a huge over 8000+ sqft South facing lot. Directly across from the Community Centre. All the updating in 2015 including the furnace, washer/dryer, stove/fridge; new laminate flooring, paint & updated bathroom. The most convenient location in Great Vancouver with a Minute walk to Scott Rd Skytrain stn, school, and bus stops. Quick access to K/G Hwy, HWY 17, and Pattulo Bridge. Tenanted property. Please drive by. price to go! (id:48205)

2 Bedroom 1 Bathroom 856
For sale
$1,188,888
109 9718 161A STREET, surrey, British Columbia

109 9718 161a Street

Surrey, British Columbia

This master planned townhouse community in Surrey Fleetwood Tynehead built by Streetside Developments. Situated next to Tynehead Regional Park & Godwin Farm Biodiversity Preserve, this home is perfect for the nature lover! This spacious 3 bedroom & 3 bath home offers white designer scheme with Shaker style cabinetry & Caesarstone countertops, stainless steel like new Whirlpool french door fridge, dishwasher, gas range & laundry on the upper floor with full sized washer/dryer. 9 ft. Ceilings on the main floor & an upgrade of laminate flooring throughout main & upper levels. A roomy balcony conveniently located off the dining room is great for outdoor dining. Clubhouse with gym access & a playground. 2/5/10 new home Warranty. (id:48205)

3 Bedroom 1527
For sale
$1,188,000
9695 151B STREET, surrey, British Columbia

9695 151b Street

Surrey, British Columbia

This Exquisite 3 Bed, 3 Bath home is nestled in the desirable neighbourhood , Quiet Street, Contemporary Beauty with many attractive bells and whistles. Set privately among an attractive array on a Southwest Exposed Backyard backs onto Johnston Heights Park, with view of GREENSPACE. FRESHLY PAINTED THROUGHOUT, ALL NEW WINDOWS, Brand New Flooring, AIR CONDITIONING, Newer Furnace, 28" Crawl Space, a Spacious Kitchen, Living room has wood burning fireplace adjacent to spacious dining room, and an appealing layout. Only few minutes walk to schools, parks, shopping, transit. This is something you won't want to miss out on! OPEN HOUSE: May 25/26 (Saturday & Sunday) 12-4PM (id:48205)

3 Bedroom 3 Bathroom 1836 sqft
For sale
$1,180,000
14766 101A AVENUE, surrey, British Columbia

14766 101a Avenue

Surrey, British Columbia

Check out this primely-located Guildford gem! This beautiful residence in the heart of Guildford offers an open living space with its three level split design - perfect for families! This 4 bedroom home features 3 bedrooms on the upper level and 1 bedroom downstairs, as well as a total of two full bathrooms. A rare abundance of parking in this corner lot makes it all-the-more convenient! Not to mention, the home is situated in a highly in-demand area due to its advantage of being at the epicenter of major shopping centers, restaurants, and more. Love to garden? This home is for you! (id:48205)

4 Bedroom 2 Bathroom 1582 sqft
For sale Open House
$1,168,900
11566 RIVER ROAD, surrey, British Columbia

11566 River Road

Surrey, British Columbia

Renovated 6BR 3BTH Royal Heights residence. Tucked behind lush greenery, this beautifully refreshed home sits at the end of an expansive driveway w/ RV Parking on a generous 7200+ SQFT lot. A graceful foyer welcomes you w/ a lit staircase leading towards a sophisticated main where elegant details like statement lighting, contemporary floors, marble fireplace & chic, chair rail moulding can be found throughout. The sunlit kitchen boasts stainless steel appliances & granite counters opening onto a spacious, wraparound balcony. Spa-like bathrooms & well-appointed bedrooms overlooking a private backyard complete the upstairs while separate entry 3BR 1BTH below creates multiple living options. Steps to bus stops w/ easy access to Scott Rd Station, Hwy 1 & 17 & a short drive to DT New West (id:48205)

6 Bedroom 3 Bathroom 2440 sqft
For sale Open House
$1,168,000
19 8717 159 STREET, surrey, British Columbia

19 8717 159 Street

Surrey, British Columbia

Rarely available duplex-style townhouse with a private fenced backyard. Massive 2,883sqft comfortable living spaces. Spacious and bright 4 bedrooms with open office. South Facing. A huge family room and living room featuring a double sided cozy fireplace. Designer kitchen with brand new appliances perfect for culinary enthusiasts and entertainers. Fully fenced backyard is perfect for entertaining your family and friends. Fully finished Basement with large rec room, bedroom and den. SIDE BY SIDE double garage and BONUS parking in driveway. Steps to a future skytrain station, Fresh St Market, restaurants, libary, community center, etc. Not many like this one. Book your appointment today! (id:48205)

4 Bedroom 4 Bathroom 2883 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