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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
$555,000
208 15140 108 AVENUE, surrey, British Columbia

208 15140 108 Avenue

Surrey, British Columbia

Welcome to this beautiful 2 bedrooms, 2 bath condo unit with a brand new appliances.The complex is featured with club house, exercise room, party room and sauna. Best location to shopping mall, bus stop, school, recreation center, and Highway 1. (id:48205)

2 Bedroom 2 Bathroom 928
For sale
$550,000
125 6758 188 STREET, surrey, British Columbia

125 6758 188 Street

Surrey, British Columbia

CALERA - This conveniently located complex is right in the HUB of ALL Clayton amenities (Rec Centre, restaurants, grocery storeS, coffee shops, doctors, transit and much more!). Beautifully kept 2 bedrooms, 2 bathrooms plus study nook features 11' ceilings!!!!! Modern open concept and a kitchen that includes stainless steel appliances, functional island and beautiful countertops. THE REAL SHOW STOPPER is the HUGEEEE fenced 27' by 18' yard/patio which faces south and looks onto a beautiful green space, PLUS separate entrance that makes this feel more like townhouse living. Comes with side by side 2 parking spots and 1 storage locker. OPEN HOUSE SUNDAY, JUNE 9 FROM 2-4PM. Private showings available upon request! (id:48205)

2 Bedroom 2 Bathroom 765 sqft
For sale Open House
$549,900
105 10560 154 STREET, surrey, British Columbia

105 10560 154 Street

Surrey, British Columbia

Outstanding opportunity in prime location! Updated 947 sq. ft. 2 bedroom 1 bath ground floor corner home in nicely maintained desirable Creekside! All new laminate floors, kitchen cabinets and Quartz countertop, bathtub & tile with newer appliances. Enjoy the spacious partly covered 148 sq. ft. patio! 7' storage closet off the entry. The storage room off the primary bedroom could be used as a den! 1 parking space another can be rented with strata approval. Storage locker. Pets friendly. Walk to Guildford shopping, restaurants, library, rec center w/swimming pool, medical, transit exchange, and theatres! Only 2 minutes to Hwy #1 to Vancouver! Comes with Parking and Storage. (id:48205)

2 Bedroom 1 Bathroom 947 sqft
For sale
$549,900
413 13501 96 AVENUE, surrey, British Columbia

413 13501 96 Avenue

Surrey, British Columbia

This charming unit boasts a prime location, mere steps from King George skytrain, Surrey Memorial Hospital, SFU & Surrey Central Mall, yet still offers the serene sounds of birds chirping & the occasional squirrel sighting by the dining room window. Positioned on the TOP CORNER with a southeast facing orientation, this 2-bdrm unit enjoys a delightful cross breeze. The customized kitchen features a skylight, flooding the space with natural daylight, along with quartz countertops & a reverse osmosis water system. Cozy up beside the heavy-duty fireplace for added warmth & ambiance. The well-maintained building is surrounded by mature trees & greenery, ensuring a tranquil atmosphere. With low deductibles on insurance & a healthy contingency reserve fund. (id:48205)

2 Bedroom 1 Bathroom 1000 sqft
For sale
$549,900
410 13458 95TH AVENUE, surrey, British Columbia

410 13458 95th Avenue

Surrey, British Columbia

Attention first time home buyers! Located south of Surrey Central, this location offers convenient access to the city's amenities, such as shopping, entertainment, universities, and parks. Galilea offers residents a tranquil residential environment, blending urban convenience with suburban peace. The unit features meticulously designed kitchens with refined quartz stone countertops, stylish backsplashes, polished chrome fixtures, and stainless steel appliances, ensuring a perfect balance of aesthetics and practicality. With its high ceilings, extra-wide windows, and contemporary textured laminate flooring, Galilea provides a modern living experience. Additionally, its proximity to the SkyTrain facilitates easy commuting and exploration of nearby areas. Not enough down payment? No problem, you may still own this. Call now. (id:48205)

1 Bedroom 1 Bathroom 549
For sale
$548,888
503 15858 FRASER HIGHWAY, surrey, British Columbia

503 15858 Fraser Highway

Surrey, British Columbia

Welcome to Fleetwood Village by Dawson+Sawyer! Why wait for a presale when this high floor, 1 year - young home is ready NOW. Features a thoughtfully designed 2 bedrooms floorplan, spacious living and dining areas, complete with high-end stainless steel appliances, in-suite washer/dryer, and a covered balcony with mountain view. Positioned along the upcoming Fraser Highway/Langley skytrain line, this home ensures convenience with proximity to transit options, shops, restaurants, and schools. As Bonus parks, Residents can enjoy exclusive access to over 36,000 sq. ft. of indoor/outdoor amenities, including a gym, yoga room, and party room. Home comes with 1 parking & 1 locker. (id:48205)

2 Bedroom 1 Bathroom 606 sqft
For sale
$548,888
522 9456 134 STREET, surrey, British Columbia

522 9456 134 Street

Surrey, British Columbia

Life at Quinn is fast or slow, quiet or vibrant. In this residential pocket close to Surrey's City Centre. This one bedroom + den condos by Porte Homes keep life open to possibilities. Full size stainless steel appliance (Samsung). 8'10' ceiling height with large oversized windows. Center location in the heart of Surrey Centre with walkable distance to transit, Surrey Memorial Hospital, Parks, Shopping district and many restaurant. A perfect investment or home for new home buyers! (id:48205)

1 Bedroom 1 Bathroom 684
For sale
$545,000
609 13458 95 AVENUE, surrey, British Columbia

609 13458 95 Avenue

Surrey, British Columbia

RARELY AVAILABLE TOP FLOOR UNIT. Perfect unit for first time homebuyers or investors in the rapidly developing Surrey. Close to Skytrain station and minutes away from schools, shopping, entertainment, universities, hospital, and parks. A quiet residential neighborhood with central city vibes is right outside your door at Galilea, giving you the best of both worlds in this dynamic community. This Top Floor unit comes with 1 parking (rough-in for installation of EV charging station), 1 storage locker, stainless steel appliances, quartz countertops, exhaust vent for A/C, and laminate flooring throughout. And Extra high ceiling only for top floor units. Amenities include a gym, yoga studio, meeting room, courtyard, BBQ area, garden & playground. Est. Completion Jan-Apr 2025. (id:48205)

1 Bedroom 1 Bathroom 549 sqft
For sale Open House
$544,999
109 15848 FRASER HIGHWAY, surrey, British Columbia

109 15848 Fraser Highway

Surrey, British Columbia

Fleetwood Village by Dawson Sawyer presents a unique opportunity with a newly constructed 2 Bed + 1 bath unit on the ground floor, showcasing the sought-after floor plan. Designed for investor, it features a spacious living area, stainless-steel appliances, in-suite washer/dryer, and private front yard. Positioned along the upcoming Fraser Highway/Langley skytrain line, residents enjoy easy access to transit, schools, shops, and dining. Exclusive access to 36,000 sq. fit. amenities includes a gym, yoga room, and party room. This unit on the ground floor with easy access to the main entrance as well as 85 Ave. The unit comes with 1 covered parking and a storage. Welcome home to a modern and strategically located lifestyle at Fleetwood Village. GST Included, 2-5-10 warranty available (id:48205)

2 Bedroom 1 Bathroom 664 sqft
For sale
$539,900
202 15956 86A AVENUE, surrey, British Columbia

202 15956 86a Avenue

Surrey, British Columbia

Welcome to Ascend, where convenience meets comfort! Step into this impeccably maintained 1 bed, 1 bath condo, boasting 647 square feet of bright and beautiful living space. Located just steps away from the elevator, convenience is at your fingertips. This vacant and move-in-ready home features upgraded stainless steel appliances, including a sleek linear kitchen with quartz countertops. Enjoy the open concept layout, perfect for entertaining or relaxing after a long day. Within a minute walk, discover a plethora of amenities, including banks, restaurants, grocery stores, medical services, and more. Plus, with a future Skytrain station on the horizon, the property value is set to soar.Whether you're a first-time homebuyer or savvy investor, this opportunity is not to be missed. (id:48205)

1 Bedroom 1 Bathroom 647 sqft
For sale
$538,000
506 15858 FRASER HIGHWAY, surrey, British Columbia

506 15858 Fraser Highway

Surrey, British Columbia

Great buy for investors to end users, this one bed, one den and one bath, higher floor with mountain view condo unit at Fleetwood Village Condo by Dawson Sawyer is a steal. This home has fantastic layout, no space is wasted. Featuring beautiful living room, dining area, stainless steel appliances, in-suite laundry and a larger covered balcony for your enjoyment. Site influences include bike room, daycare, gym, playground and party/meeting room. Bus in front to Langley City, to Surrey Central. Future Skytrain is positioned along Fraser Hwy will conveniently help getting around via public transportation in no time. OP Cancelled Sorry. Private showings only. (id:48205)

1 Bedroom 1 Bathroom 607 sqft
For sale
$536,900
408 19530 65 AVENUE, surrey, British Columbia

408 19530 65 Avenue

Surrey, British Columbia

Elegant Top Floor home at sought after Willow Grand. Spacious 1 bedroom and den with soaring 12 foot ceilings and over 100 square foot, private, east facing deck with stunning garden and mountain views of Mt Baker & Shuksan Glacier. Quality kitchen with granite counters & stainless appliances, Primary bedroom fits king bed and comes with a spa inspired 5 piece bath featuring double vanities, clawfoot tub & extra large frameless shower with rainfall shower head. Many more features like Insuite laundry with storage. Building Amenity room, Guest suite, Storage unit, Visitor and Secured parking. Quiet location yet walkable to shops, restaurants, amenities, transit, Willowbrook Mall & future skytrain station. 2 Pets with up to 25 pound dog welcome. Stylish & convenient. Here's the one! (id:48205)

1 Bedroom 1 Bathroom 794 sqft
For sale
$535,000
107 19530 65 AVENUE, surrey, British Columbia

107 19530 65 Avenue

Surrey, British Columbia

GROUND FLOOR, GARDEN PATIO at Willow Grand. This large 1 BED 1 BATH home is 693 sqft plus another 104 sqft of covered patio. Granite kitchen with stainless appliances. Bedroom has double door access to the 5 piece bathroom with large shower and double vanities. There is a guest suite and amenities room in the building. One parking stall, storage locker & hot water are included. Lots of secure visitor parking underground too. Two dogs or cats allowed up to 25 lbs. Centrally located only minutes to all the amenities, recreation, Willowbrook Mall, etc. Hurry on this one! (id:48205)

1 Bedroom 1 Bathroom 693
For sale Open House
$529,800
124 14968 101A AVENUE, surrey, British Columbia

124 14968 101a Avenue

Surrey, British Columbia

"GUILDHOUSE" Discover urban living at its finest in this beautifully crafted Guildford condo by Mosaic Group. Featuring elegant herringbone flooring and a chic farmhouse design, this residence boasts an open-concept and functional layout perfect for modern living. The kitchen is equipped with stainless steel appliances, complementing the bright and well-kept interiors. Enjoy the expansive patio space that feels like your own private backyard-ideal for relaxation and entertaining. Complete with 1 parking spot and 1 locker, this condo is conveniently located near all of Guildford's premier shopping, parks, amenities, and top-rated schools. Make this your new home and experience the best of Guildford living. Open House June 22 & 23, 2pm - 4pm! (id:48205)

1 Bedroom 1 Bathroom 575 sqft
For sale
$529,000
101 14885 100 AVENUE, surrey, British Columbia

101 14885 100 Avenue

Surrey, British Columbia

Sizes and age are approximate. Buyer to verify. Beautiful ground floor unit with a large brick patio. Wheelchair accessible, featuring 2 bedrooms, 1 bathroom, ceramic tiled entry, laminate flooring, and a corner gas fireplace. Large windows and great open layout. Located in a rain-screened complex, amenities include a community room, hot tub, sauna, and workshop. Just minutes walking to Guildford Mall, T&T, library, cinemas, recreation center, schools, restaurants, and transit. Enjoy a walk or jot through Green Timbers Nature Park. Small pets are allowed. Underground parking available. Affordable maintenance fees include gas and hot water. (id:48205)

2 Bedroom 1 Bathroom 804 sqft
For sale
$528,000
523 9456 134 STREET, surrey, British Columbia

523 9456 134 Street

Surrey, British Columbia

LARGE 1 + Extra large den 719 sf home + 92 sf patio. Welcome to QUINN by Porte Homes. QUIET SIDE OF THE BUILDING. 1 Bedroom + Den & 1 bathroom offers open concept living, PERFECT LAYOUT W/ lots of windows. B15 floor plan. Comes with 1 parking, 1 bike locker, patio with views of the Queen Elizabeth Meadows 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 December 1, 2024 and February 28, 2025. NO ONE IS ABOVE THIS UNIT (it's the outdoor amenity space) (id:48205)

1 Bedroom 1 Bathroom 719
For sale
$525,000
309 9626 148 STREET, surrey, British Columbia

309 9626 148 Street

Surrey, British Columbia

This Apartment features 1bedroom + Den and 1 full bathroom. This home is located within walking distance to transit, close to all level of school and Grocery stores and Guildford Mall. Easy access to all major routes. (id:48205)

1 Bedroom 1 Bathroom 780
For sale
$525,000
312 13458 95 AVENUE, surrey, British Columbia

312 13458 95 Avenue

Surrey, British Columbia

Designed with distinctive style, this 1 bed 1 bath unit at Galilea comes with 1 Parking and 1 Storage Locker and a fitness centre within the building! Located just South of Surrey Central, Galilea is minutes away from the city's shopping, entertainment, universities, and parks. A quiet residential neighborhood with central city vibes is right outside your door at Galilea, giving you the best of both worlds in this dynamic community. Homes created with you in mind, kitchens at Galilea are designed with impressive quartz stone countertops, crisp backsplashes, polished chrome fixtures, and stainless steel appliances coming together to create a stylish foot ceilings, extra wide windows, as well as modern and textured laminate throughout. (id:48205)

1 Bedroom 1 Bathroom 547
For sale
$519,900
419 9456 134 STREET, surrey, British Columbia

419 9456 134 Street

Surrey, British Columbia

The Quinn Complex by the reputable Porte Homes provides a well-connected living experience in a prime location. Just steps from schools, the SkyTrain, Surrey Memorial Hospital, and Surrey Central Mall, residents enjoy the perks of urban convenience. The interior design focuses on spaciousness and natural light. The living and kitchen areas feature quartz countertops and an island to allow more seating. Generous storage, ample closet space, and large windows add to the unit's functionality and appeal. With a total area of 651 sqft, the unit offers a modern layout with 1 bed, 1 bath, and an oversized patio. This unit comes with 1 parking spot and 1 bike locker. (id:48205)

1 Bedroom 1 Bathroom 651 sqft
For sale
$519,000
210 15268 100 AVENUE, surrey, British Columbia

210 15268 100 Avenue

Surrey, British Columbia

ATTENTION First time home buyer or investor. Cheaper than paying rent. Check out this spacious and renovated 2 bed + den on the 3rd floor facing the back quiet side. New kitchen cabinets, appliances, bathroom, flooring, lights and paint. Contemporary living. Beyond a functional entryway space, the home flows into a luminous, open-concept living, dining and kitchen area. Located in the heart of Guildford, just across from T&T Supermarket, walking distance to Elementary and Secondary, Guildford mall, shops, banks, restaurant and much more. Call for your private appointment today. Rentals are welcome. (id:48205)

2 Bedroom 1 Bathroom 945 sqft
For sale
$519,000
214 19320 65 AVENUE, surrey, British Columbia

214 19320 65 Avenue

Surrey, British Columbia

Welcome to Esprit in Clayton! This 770 SQFT 1 Bedroom + 1 Den condo is situated near Willowbrook Mall and convenient bus transit. This home features a spacious den, perfect for a home office or private dining area. Embrace the inviting ambiance of the open floor plan complemented by a cozy fireplace in the living room. The master bedroom offers a walk-in closet for ample storage. Noteworthy, we include 2 designated parking spaces for your ease. With a beautiful park just steps away, seize the opportunity to make this outstanding residence yours - act fast, it won't be available for long. (id:48205)

1 Bedroom 1 Bathroom 770 sqft
For sale
$518,000
403 15351 101 AVENUE, surrey, British Columbia

403 15351 101 Avenue

Surrey, British Columbia

The Guildford! Beautiful 1 Bedroom home in a Fantastic Location! Terrific Open floor plan, laminate flooring throughout the home, Quartz counter tops in kitchen complimented with top of the line S/S Appliances. Smart switches (voice activated).Central to Guildford Town Center, Library and Rec Center . Superb Amenities, state of the art Exercise Center, Recreation room with Pool room and kitchen, (id:48205)

1 Bedroom 1 Bathroom 584 sqft
For sale
$518,000
618 9456 134 STREET, surrey, British Columbia

618 9456 134 Street

Surrey, British Columbia

Welcome to Quinn by Porte, centrally located in Surrey's bustling City Centre. This generously proportioned residence boasts a functional floorplan of 588 sqft, featuring a spacious one-bedroom plus den layout, alongside a sizable 81 sqft patio facing north. The contemporary kitchen showcases full-size stainless steel appliances from Samsung, while the residence enjoys ample natural light through its 8'10 high ceilings and expansive windows. Additional comfort is provided by radiant floor heating. Conveniently within walking distance to transit, schools, Surrey Memorial Hospital, parks, and shopping centers. Quinn offers an ideal living experience for both renters and new homeowners. Completion is between December 2024 and February 2025. One Ev Parking space and One bike storage locker. (id:48205)

1 Bedroom 1 Bathroom 588
For sale
$515,000
409 14960 102A AVENUE, surrey, British Columbia

409 14960 102a Avenue

Surrey, British Columbia

Welcome to this delightful top-floor unit boasting 1 bdrm + den (currently utilized as a 2nd bdrm) & 1 bath, complete w/ 9-foot ceilings. This charming space offers a harmonious blend of comfort, value, & potential. Conveniently located mere steps away from Guildford Mall, Hwy 1 & Landmark cinema. This home features stainless steel appliances & granite countertop in the kitchen. Situated in a desirable area, it provides easy access to major amenities including schools, Walmart, parks, & transportation hubs. Its prime location promises a lifestyle of convenience, ensuring proximity to all necessities. Inside, enjoy an open floor plan, laminate flooring, creating a fluid & interconnected atmosphere throughout the interior. (id:48205)

1 Bedroom 1 Bathroom 667 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