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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
$649,900
102 14980 101A AVENUE, surrey, British Columbia

102 14980 101a Avenue

Surrey, British Columbia

This unit is a perfect 10! Located in the heart of Guildford, this unit feels just like new. Featuring two bedrooms and two bathrooms, it is spacious and filled with natural light. Enjoy a short walk to transit, Guildford Mall, Walmart, Landmark Cinemas, T&T's grocery store, restaurants, and Green Timbers Forest. It also offers easy access to bridges, the highway, and the SkyTrain for a convenient commute. *OPEN HOUSE : June 15th (SAT) 12-2PM (id:48205)

2 Bedroom 2 Bathroom 1250 sqft
For sale
$649,900
102 10584 153 STREET, surrey, British Columbia

102 10584 153 Street

Surrey, British Columbia

Welcome to Glenwood Village! One of Guildford's finest gated communities close to the mall and to Port Mann Bridge. Over 1400SQFT 2 bed and den GROUND LEVEL townhouse with laminate flooring, newer stainless kitchen appliances, front-loaded washer and dryer, updated countertops and bathrooms. This unit comes with EV CHARGING PORT all completed with strata approval. Awesome backyard patio for you to enjoy. ALL AGES ARE WELCOME. RENTALS AND PET FRIENDLY. LOW STRATA FEES. (id:48205)

2 Bedroom 2 Bathroom 1413 sqft
For sale
$649,800
108 15351 101 AVENUE, surrey, British Columbia

108 15351 101 Avenue

Surrey, British Columbia

This meticulously maintained 2-bedroom, 2-bathroom ground-level unit offers separate bedrooms, laminate flooring, and a private patio with a fenced backyard. The living space boasts 9-foot ceilings and large windows that let in plenty of natural light. The kitchen is equipped with stainless steel appliances, quartz countertops, and high-gloss cabinetry with soft-close doors and drawers. Amenities include a lounge with a kitchen, gym, and playground. Located in one of Surrey's most desirable Town Centers, The Guildford by Tangerine Developments offers superior soundproofing with cement underlay, acoustic mats, fiberglass insulation, and resilient metal channels. The unit comes with one parking spot, two storage lockers. (id:48205)

2 Bedroom 2 Bathroom 855 sqft
For sale Open House
$648,800
107 14968 101A AVENUE, surrey, British Columbia

107 14968 101a Avenue

Surrey, British Columbia

Welcome to GUILDHOUSE by award-winning Mosaic Homes! This ground-level suite offers extra tall 10 ft. ceilings, elegant herringbone flooring and opens up into a beautiful large private patio for entertainment and enjoyment. Sky high windows allow plenty of natural light. Kitchen features quartz countertops and stainless steel appliances. Residents have access to Clubhouse and Fitness Centre. This home is tucked away from the busy streets, yet only steps away from Guildford Town Center, Landmark Movie Theatre, T&T, transit and schools, and offers easy access to Hwy #1. Unit offers TWO PARKING + 1 STORAGE. Excellent opportunity for Buyers and Investors. Open House Saturday/Sunday June 22/23 2-4 p.m. (id:48205)

2 Bedroom 2 Bathroom 802 sqft
For sale
$648,800
812 13428 105 AVENUE, surrey, British Columbia

812 13428 105 Avenue

Surrey, British Columbia

University District by Bluesky Properties, centrally located in the most thriving community, Surrey Central. Unit features an open-concept layout with large windows that flood the space with natural light, creating a bright and welcoming atmosphere. The modern kitchen is equipped with high end stainless steel appliances and sleek cabinetry providing a perfect space for preparing meals and entertaining guests. There is much more to offer: - Amenities including Gym, Yoga room, pool, bike storage, business center, lounge, BBQ, car wash, bike wash etc. - Steps away from SFU, KPU and Sprott Shaw College. - Easy access to restaurants and shopping mall, T&T, Walmart etc., - SkyTrain, buses. Truly an exceptional opportunity to own a piece of urban living in highly demanded location in the city. (id:48205)

2 Bedroom 1 Bathroom 691 sqft
For sale
$648,000
311 14981 101A AVENUE, surrey, British Columbia

311 14981 101a Avenue

Surrey, British Columbia

RARE FIND! Welcome to this SPACIOUS 2 Bedroom & 2 Bathroom gem nestled in the HEART OF GUILDFORD! RECENTLY RENOVATED with fresh paint, new flooring, and designer light fixtures, new appliances & an updated kitchen, this spacious condo boasts a blend of comfort & style perfect for modern living. The large balcony offers views of a private green-space, creating a tranquil retreat right at home. ADDITIONAL NOTEWORTHY FEATURES: huge master bedroom & vaulted ceilings in the living room! The well managed building provides many amenities, including a gym, hot tub & party hall. Only a few mins from transit, Highway 1, & the Port Mann Bridge. Walking distance to Guildford Mall, Rec Center/Pool & Public Library. BONUS: All-inclusive strata fee covers heat & hot water! PRICED TO SELL... CALL NOW! (id:48205)

2 Bedroom 2 Bathroom 1164 sqft
For sale
$645,000
108 6438 195A STREET, surrey, British Columbia

108 6438 195a Street

Surrey, British Columbia

Full of light,airy, 2 bedroom,2 washrooms and 2 parkings ground level open concept design.A kitchen with stainless steel whirlpool appliances,chrome hardware finishings.Central Location provides extra edge.Book showing today!! (id:48205)

2 Bedroom 2 Bathroom 835 sqft
For sale
$645,000
E420 10828 139A STREET, surrey, British Columbia

E420 10828 139a Street

Surrey, British Columbia

Viktor is centrally located near Surrey City Centre & all amenities including Skytrain, enjoy the convenience of a thriving, walkable community filled with shops, parks, restaurants, and the future 140th Street Skytrain station. This large 2 bedroom & 2 bathroom features high ceilings, luxurious wide plank laminate flooring througout, elegant two toned cabinetry, ample storage and stunning quartz countertops in the kitchen. Includes 1 parking. $5,000 credit upon completion. Estimated completion July/August 2024. (id:48205)

2 Bedroom 2 Bathroom 690
For sale Open House
$640,000
209 55 EIGHTH AVENUE, new westminster, British Columbia

209 55 Eighth Avenue

New Westminster, British Columbia

This well-maintained unit is in the quiet side of the building, Feature 2 bedrooms & 2 full! bathrooms. Laminate and Carpet flooring. S/S appliances, custom shelving installed .. Walk to Safeway, Transit, , Starbucks, BC Liquor Store, Canada Games Pool/ Fitness Centre, Queens Park, Restaurant & so much more. 1 parking/ l Storage locker 2 dogs or 2 cats or 1 dog and 1 cat, 2 caged birds Call for viewing. OPEN HOUSE JUNE 16 SUNDAY 4:00 pm - 6:00 pm (id:48205)

2 Bedroom 2 Bathroom 746 sqft
For sale
$639,900
1005 9147 154 STREET, surrey, British Columbia

1005 9147 154 Street

Surrey, British Columbia

Great Location. This rancher style ground-level townhouse with detached garage. Great Location on a quiet side street that is walking distance (1 block) to Medical clinic, Life labs, grocery shopping, Shoppers, restaurants & more. Your Pet DOG or CAT is Welcome. Great pro-active strata-newer decks, siding, windows, downspouts, paved roads & a good contingency fund. This is a amazing , friendly gated community. Ready to move in to this spacious, modern townhouse that has tons of storage space, and then just relax. Don't let this one get away! Come See Come Buy (id:48205)

2 Bedroom 2 Bathroom 1434 sqft
For sale
$639,900
616 9456 134 STREET, surrey, British Columbia

616 9456 134 Street

Surrey, British Columbia

Welcome to QUINN by Porte Homes. Corner unit on the top floor. 2 bedroom + Den & 1 bathroom offers open concept living. On the top floor, 759 sq ft patio. Comes with 1 parking, 1 bike locker, patio with views of the Queen Elizabeth Meados Park. Located near Surrey City Center and steps to Queen Elizabeth Secondary, Surrey Memorial Hospital, Sky Train and shopping district. Perfect for first time home buyers and investors. This development is located West of Queen Elizabeth high school. Reputable builder. Completion towards end of 2024. (id:48205)

2 Bedroom 1 Bathroom 759
For sale Open House
$639,000
101 15628 104 AVENUE, surrey, British Columbia

101 15628 104 Avenue

Surrey, British Columbia

In the heart of Guilford. Ground floor, North facing, Corner unit, largest in a small boutique, very will managed 29 unit complex. No rental restrictions. High quality finishes from quartz countertops, to full sized washer and dryer, dishwasher, stove, microwave. Steps away from bus stop, Harold Bishop Elementary School, fitness centre, public library, Guilford Mall, plus Save On Foods across the street. **OPEN HOUSE: Every Sunday, 2-4 PM** (id:48205)

2 Bedroom 2 Bathroom 964 sqft
For sale
$638,800
204 6500 194 STREET, surrey, British Columbia

204 6500 194 Street

Surrey, British Columbia

Welcome to your beautiful new home at Sunset Grove. This bright and spacious 2 bedroom, 2 bath home is just steps away to schools, parks, transit and Willowbrook Shopping Centre. This home was partially renovated in 2018 and has an amazing layout that includes an open concept kitchen, a double sink ensuite, walk-in closet and a nearly 100 square-foot balcony. This home is perfect for first-time buyers, downsizers or investors. Strata has a healthy contingency reserve and allows cats and dogs. (id:48205)

2 Bedroom 2 Bathroom 918 sqft
For sale Open House
$630,000
115 9626 148 STREET, surrey, British Columbia

115 9626 148 Street

Surrey, British Columbia

Welcome to this spacious 2 beds + den and 2 full baths condo at Hartford Woods. This unit has an open living/dining area, a cozy kitchen and a laundry room. Primary bedroom features a walk-in closet, and a full bathroom. Den can be used as third bedroom. Located on ground level, indulge condo living with added benefit of a patio and yard. Enjoy easy access to Guildford Mall, shops, restaurants, public transit, schools, Green Timbers Park, and HWY 1. Resort-style amenities include an outdoor pool, sauna, hot tub, gym, guest suite and clubhouse. Comes with 2 parkings and 1 locker. Family oriented, pet and rental friendly. Call today before it's gone. Open House Sunday June 16, 12-2pm. (id:48205)

2 Bedroom 2 Bathroom 1177 sqft
For sale Open House
$629,900
201 10320 156 STREET, surrey, British Columbia

201 10320 156 Street

Surrey, British Columbia

Check out this beautiful 1,100 sqt ft. 2-bedroom, 2-bathroom home with 9-foot ceilings unit! It features crown moulding, stainless steel appliances, and laminate flooring. The great layout includes a spacious kitchen, separate dining room, and bedrooms on opposite sides for added privacy. The unit faces a courtyard with greenery, offering a peaceful view. Enjoy the quiet, private street while being close to HWY 1, the Port Mann Bridge, and Guildford Town Centre. Gas is included with the maintenance fee. Includes one underground parking stall and a storage locker. Don't miss this opportunity-call today! (id:48205)

2 Bedroom 2 Bathroom 1100 sqft
For sale
$629,900
204 15388 105 AVENUE, surrey, British Columbia

204 15388 105 Avenue

Surrey, British Columbia

Welcome to magnificent G3 Residence located in the heart of Guildford.This spacious 2bdrm 2bath 1 ownerWELL KEPT CORNER unit on the2nd floor with 9ft ceilings will not disappoint!Unit comes with MASSIVE windows,abundance of natural lighting with N&E exposure.Primary bdrm w/ensuite &walk-in-closet w/secondary bdrm on other side for privacy.Open gourmet kitchen,quartz counters& S/S appliances w/shaker cabinets& in-suite laundry.Unit comes with 1covered deck& 1parking.Enjoy a tranquil private walk in courtyard with bridge & water features.Amenities includes:large clubhouse/kitchen,gym,pingpong,billiards,guest suite,exquisite gardening& playground.Easy access Hwy1& steps away from restaurants,schools,Guildford Mall,Comm Center,Library&much more. Don't miss out, book your private showing today! (id:48205)

2 Bedroom 2 Bathroom 831 sqft
For sale
$629,000
218 9983 E BARNSTON DRIVE, surrey, British Columbia

218 9983 E Barnston Drive

Surrey, British Columbia

*Like new - Stunning end unit at *COAST* in Fraser heights* The first condo residence in the prestigious neighborhood of Fraser Heights, a happy addition to a well established area with sought-after schools, amenities, parks and it's beautiful views of the West Coast Mountains! This 2 bedroom 2 bath home offers an open-concept living space with windows for optimal natural light. The kitchen features two toned cabinetry, topped by natural quartz countertops, contemporary marble inspired backsplash, and designer Whirlpool stainless steel appliances. Bonus: 2 parkings + 2 lockers! Vacant and ready to move in today. (id:48205)

2 Bedroom 2 Bathroom 952 sqft
For sale
$629,000
6 9253 122 STREET, surrey, British Columbia

6 9253 122 Street

Surrey, British Columbia

REDUCED TO SELL!!! Welcome to Kensington Gate! This pet-friendly gated community in Queen's Park offers a range of amenities, including an OUTDOOR POOL and meticulously maintained grounds. This UPPER level unit boasts a total of 1372 sq. ft. The abundance of natural light floods the main living space, equipped with a newly installed gas fireplace & providing access to not 1, but 2 BALCONIES. This unit features a generously sized primary bedroom complete with TWO spacious closets and an ensuite bathroom. The den provides the flexibility to be transformed into a SECOND BEDROOM or a home office. Additional highlights include a SINGLE CAR GARAGE, IN-HOUSE STORAGE, a NEW ROOF (2019) and a DRIVEWAY that accommodates an extra vehicle. (id:48205)

2 Bedroom 2 Bathroom 1441 sqft
For sale
$628,800
B220 20834 80 AVENUE, langley, British Columbia

B220 20834 80 Avenue

Langley, British Columbia

Alexandra Square by award-winning developer, RDG, is conveniently located in the thriving Willoughby neighbourhood across from the Town Centre. This 2 bed 2 bath unit features a modern style with an efficient plan that lets you live in a functional space, with bright and airy open layouts. Nearby Shopping mall, Recreation Centres, School. Quick and easy access to public transit and Highway 1, Fraser Highway. Meet neighbours and friends in the landscaped courtyard or entertain guests on your common rooftop patio or the entertainment lounge with a full kitchen. (id:48205)

2 Bedroom 2 Bathroom 738 sqft
For sale
$624,800
408 6480 195A STREET, surrey, British Columbia

408 6480 195a Street

Surrey, British Columbia

SALIX in Clayton Heights - This 2 bed/ 2 bath TOP FLOOR unit with Mount Baker views is a rare find. Featuring an open floor plan with 10' ceilings, 8' doors, light-coloured laminate flooring, modern kitchen with combination white and wood cabinets, granite counters with counter seating, stainless steel appliances and 2 balconies with beautiful views. Both bedrooms have ensuite bathrooms & balconies. Salix has a guest suite, a gorgeous amenity room for large gatherings with elegant fireplace, gaming table & doors opening to a beautiful courtyard, and an exercise room. Includes 2 parking and 1 garage-style storage locker. Excellent Walk score, close to all amenities, restaurants, shopping, parks, schools, transit, Willowbrook Mall, and more. (id:48205)

2 Bedroom 2 Bathroom 844 sqft
For sale
$623,800
301 6438 195A STREET, surrey, British Columbia

301 6438 195a Street

Surrey, British Columbia

Yale Bloc 2! This beautiful unit shows like a 10! Bright and airy, this 2 bedroom, 2 bathroom CORNER unit has XL windows and 9' ceilings. The ample windows throughout the LR and DR showcase a southeast view of the city and Mount Baker. The open and efficient layout of the condo has a very modern feel with no wasted space. Enjoy the gourmet kitchen which features marble tile backsplash, S/S appliances and an extra window as well! Bedrooms are separate for privacy and each bedroom is a considerable size. Primary bedroom has a good size walk-in closet. Two side-by-side parking and storage locker included. Central location is close to medical services, shopping, restaurants, pubs and the future Surrey-Langley Skytrain line. Open houses Sat June 8, 12-2PM and June 9th, 2-4PM. (id:48205)

2 Bedroom 2 Bathroom 834 sqft
For sale Open House
$620,000
210 19201 66A AVENUE, surrey, British Columbia

210 19201 66a Avenue

Surrey, British Columbia

Welcome to ONE92, this 2-bedroom, 2-bathroom condo is nestled on the serene side of the building and is flooded with natural light, creating a warm and welcoming atmosphere. The thoughtful floor plan maximizes functionality and flow, offering both privacy and seamless connectivity between living spaces. Enjoy the convenience of two underground parking stalls. Close to all amenities and schools. Embrace the harmony of modern living and timeless charm in this delightful abode. (id:48205)

2 Bedroom 2 Bathroom 940 sqft
For sale
$619,999
504 9123 154 STREET, surrey, British Columbia

504 9123 154 Street

Surrey, British Columbia

Welcome to Lexington Square, a prestigious gated community in Fleetwood! This spacious upper unit townhome boasts 2 large bedrooms and 2 baths. The airy living and dining rooms feature high vaulted ceilings and a cozy gas fireplace, leading to a tranquil balcony overlooking the garden. Enjoy a refreshed kitchen with quartz countertops and a convenient walk-in pantry. Additionally, there's a versatile nook/flex space for a den or dining area. With a detached single car garage offering extra storage, this prime location puts you steps away from shopping, recreation, restaurants, and future Skytrain access. Close to Guildford Mall, medical clinics, and more! One owner must be 55+. (id:48205)

2 Bedroom 2 Bathroom 1479 sqft
For sale
$619,900
315 6468 195A STREET, surrey, British Columbia

315 6468 195a Street

Surrey, British Columbia

Welcome home to this spacious and turnkey 2 bed, 2 bath condo in the sought-after Cloverdale/Clayton area. With an open concept layout ideal for entertaining, this home features a modern kitchen with quartz countertops and stainless-steel appliances. Laminate flooring throughout ensures easy maintenance, while ample natural light enhances the inviting atmosphere. Complete with 2 parking stalls and no rental restrictions, it's perfect for families and investors alike. Conveniently located near Willowbrook Mall, Superstore, Walmart, Costco, Restaurants and the highly anticipated skytrain station this lovingly maintained condo offers everything you need. Enjoy the complex's amenities like the exercise room, playground, and clubhouse. Don't miss this 10/10 opportunity-book your showing today! (id:48205)

2 Bedroom 2 Bathroom 783 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