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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
$3,300,000
15061 90A AVENUE, surrey, British Columbia

15061 90a Avenue

Surrey, British Columbia

Developer alert! Land assembly! Street front, total 34027 sqf. Under Surrey Fleetwood Plan, FAR 3.25, Mid-Rise buildable up to 15 storeys. Proposed Skytrain station of Expo line Frazer Highway extension is right across the street. 15038 Frazer Hwy & 15043 90A & 15053 90A are for sale too. Highly developing area. (id:48205)

4 Bedroom 2 Bathroom 1735 sqft
For sale
$3,300,000
15053 90A AVENUE, surrey, British Columbia

15053 90a Avenue

Surrey, British Columbia

Developer alert! Land assembly! Street front, total 34027 sqf. Under Surrey Fleetwood Plan, FAR 3.25, Mid-Rise buildable up to 15 storeys. Proposed Skytrain station of Expo line Frazer Highway extension is right across the street. 15038 Frazer Hwy & 15043 90A & 15061 90A are for sale too. Highly developing area. (id:48205)

3 Bedroom 2 Bathroom 1692 sqft
For sale Open House
$3,198,888
8995 QUEEN MARY BOULEVARD, surrey, British Columbia

8995 Queen Mary Boulevard

Surrey, British Columbia

A luxury home! 7,004 SF CUSTOM BUILT 3-level home sitting on 8915 sf lot in the desirable neighbourhood. 10 bedrooms + 10 baths! The top floor has 5 LRGE bedrooms with ensuite baths & WIC, plus a large loft, bed with full bath on main. High-quality construction w/tile floor on main & below, stainless steel appliances, HRV system, A/C. High-end cabinetry. Large spice kitchen. Open floor plan w/wide hallways and lots of windows. The ground floor features a media room w/bar, wine fridge, and own bath. (2+2) suites finished to the same quality as the rest of the home. There is extra 400 sqft detach accommodation in the back yard.Rent potential from suits $6000. Remainder of 2-5-10 home warranty. Close to Gurudwara, transit, elementary & high school, Surrey Central SFU, and future UBC Campus, walmart. (id:48205)

10 Bedroom 10 Bathroom 7004 sqft
For sale
$3,100,000
13869 BRENTWOOD CRESCENT, surrey, British Columbia

13869 Brentwood Crescent

Surrey, British Columbia

DEVELOPER ALBERT!! LAND ASSEMBLY FOR ABOVE 5 LOTS TOTAL CLOSE TO ONE ACRE!! Designated multi-family in OCP, Good for investors and developers. Please go to the city for more information. The beautiful fully renovated house is located in a quiet & convenient location within walking distance to all the amenities. Spacious and bright w/ a total of 8 bedrooms with 2 master bedrooms. Bright new spacey kitchen and model large kitchen w/ beautiful quartz counters & stunning backplash with all stainless steel appliances. 6 FULL washrooms. 3 rental suites & each w/ separate suites are currently rented to good tenants which makes a very good mortgage helper. Own this house and have that touch of high-class living. Please call for more information. (id:48205)

8 Bedroom 6 Bathroom 4754 sqft
For sale Open House
$3,099,000
1280 160 STREET, surrey, British Columbia

1280 160 Street

Surrey, British Columbia

Discover a sophisticated custom built residence where every inch of the home is thoughtfully designed. Boasting over 4000sqft of luxurious living space, this exceptional design features extensive millwork, beautiful wide plank floors and a kitchen which serves as the heart of the home. This open concept plan features 8 bedrooms, and 6.5 bathrooms. The spacious primary offers a spa-like ensuite and a generously sized walk in closet. The fully finished basement allows for two income generating suites. A quick walk to the beach, shops, and restaurants, with easy access to transit, recreation, Vancouver and YVR. Make this your home today. Open House, Saturday, March 16 1-3pm. (id:48205)

8 Bedroom 7 Bathroom 4601 sqft
For sale
$2,999,999
13950 KALMAR ROAD, surrey, British Columbia

13950 Kalmar Road

Surrey, British Columbia

Discover the awe-inspiring beauty of mountain peaks and the tranquil flow of the Fraser River from this bespoke Residence. Nestled on an expansive 8400 SQFT corner lot, this architectural gem offers over 6200 SQFT of meticulously crafted living space, 9 beds, 8 full baths, and a luxurious Primary Suite. With grand chandeliers, sleek glass staircase, the foyer sets an atmosphere of refined elegance. Gourmet and spice kitchen, Fisher-Paykel appliances, and an expansive island with cascading waterfall countertops cater to every culinary need. Formal living, dining, and family areas exude sophistication. Step onto the Decks to witness the magic of Sunrise. Radiant Heating, A/C. Option for 2+2 suites, offering unparalleled flexibility. Don't miss the chance to experience luxury living firsthand (id:48205)

9 Bedroom 9 Bathroom 6290 sqft
For sale Open House
$2,999,999
5758 131A STREET, surrey, British Columbia

5758 131a Street

Surrey, British Columbia

WELCOME TO SOUTH PANORAMA RIDGE: Presenting an extraordinary opportunity to own a mansion currently under construction. This house is at lock-up stage. The buyers will have to finish it. This sprawling residence is set to be an impressive 9000 sqft masterpiece, boasting an astounding 11 bedrooms and 11 bathrooms. Top Floor has massive 5 bedrooms with en-suite bathrooms and separate balconies, main floor features 2 huge master bedrooms, living, family areas, main kitchen and spice kitchen, office. Basement has 2+2 suites. Situated on an expansive 20,255 sqft lot, this property promises luxurious living with unparalleled space and comfort, and ocean view. Don't miss the chance to make this unparalleled mansion your home. (id:48205)

11 Bedroom 11 Bathroom 8961 sqft
For sale
$2,999,999
8835 164 STREET, surrey, British Columbia

8835 164 Street

Surrey, British Columbia

Introducing a magnificent 7 bed, 5 bath home on a generous 13,939 sqft corner lot w/ lane access. This home has a stunning kitchen equipped w/ S/S appliances, & a gas stove. Has high ceilings & large windows that flood space w/ natural light. Notably, this wheelchair accessible home fts chair lift for easy access to upper level & a bathroom designed to accommodate wheelchair users. Recently renovated, home has new carpets, closets,doors,front doors,appliances,2 AC units,hot water tank,gutters,&roof. Step outside to discover a well maintained fully fenced yard w/playground, ideal for outdoor activities&entertaining. Additionally property includes a 2 bedroom mortgage helper. Easy access to transit, parks, shopping centres, supermarkets&schools. Easy access to Hwy 1 & Golden Ears. CALL NOW! (id:48205)

7 Bedroom 5 Bathroom 5000 sqft
For sale
$2,998,000
13961 115 AVENUE, surrey, British Columbia

13961 115 Avenue

Surrey, British Columbia

Investors and developer Alert!! Property in a great location! For someone searching for a first home in a desirable neighbourhood, this 4-bedroom rancher is ideal. The property sits on a 19670 Sq Ftsq. ft lot currently zoned RF, located in a central and quiet neighbourhood This property's offers lots of space for gardening or possibly an addition of a carriage house is possible. Great investment opportunity and holding property for a future new 3-level buildable home. Call the listing agent right away to schedule a private viewing! (id:48205)

4 Bedroom 2 Bathroom 2574 sqft
For sale
$2,988,000
8933 149 STREET, surrey, British Columbia

8933 149 Street

Surrey, British Columbia

This magnificent custom built 3 story LUC style mega home is OVER 6500 sqft. 9 beds, 9 baths on a beautiful 7200 sqft rectangular lot. Functional open concept living area, a pleasantly sized office, a gourmet kitchen equipped with stainless steel appliances and a large butler's kitchen to accommodate any culinary experience. And not to mention a granny suite with its own washroom and a large walk-in closet. And to top it all off, a theatre room on the main floor. 4 bed upstairs with 2 MASTER SIZE bedrooms, big walk-in closets and fully tiled bathrooms and personal decks. Step outside to discover a one of a kind backyard w outdoor fire pit. Basketball court and a children's play area. This Mega house comes with 3 mortgage helpers 2+1+1 with potential rent of up to $5000/ month, Don't miss ! (id:48205)

9 Bedroom 9 Bathroom 6505 sqft
For sale
$2,985,000
16645 87A AVENUE, surrey, British Columbia

16645 87a Avenue

Surrey, British Columbia

Welcome to the Bel-Air home of the prestigious "Cedar Grove Estates." This home has been curated and built in 2000 with absolutely no expense spared. Floor plan boasts 4 generous sized bedrooms all with their own walk in closets and bathrooms. Enter main floor and you're greeted by double height ceilings, a dramatic staircase, tile flooring, and a floor plan designed for entertaining. Main floor features office/bedroom, tons of natural light, & private fenced yard. Basement features a private theatre room with a wet bar great for entertaining guests, billiards room, sauna & a 3 bedroom basement suite great for that mortgage helper. Steps away from both levels of schools, Surrey Sport & Leisure Centre, transit, parks, hwy 1 & shopping, not to mention close to future SkyTrain. (id:48205)

8 Bedroom 8 Bathroom 6730 sqft
For sale
$2,967,418
9569 134A SURREY STREET, surrey, British Columbia

9569 134a Surrey Street

Surrey, British Columbia

This exceptional over 22,000 SQFT level corner lot is located within Surrey City Center Plan, which is currently designated for Low to Mid Rise Residential Use. This site is also included in the Medical District of Surrey City Center. Sitting right at the of 96 ave and 134A st, this Site falls into three regional development concepts: right on the Major Transit Network of 96 Ave; in close proximity of the King George Blvd Major Transit Growth Corridor; within the 800-meter radius from the King George Blvd Skytrain Station. City of Surrey's OCP and NCP updates looming up, this outstanding site offers opportunities for multiple development options: residential, rental, as well as mixed use. Contact the L.A. for details. (id:48205)

8 Bedroom 3 Bathroom 3340 sqft
For sale
$2,899,000
8362 170A STREET, surrey, British Columbia

8362 170a Street

Surrey, British Columbia

Discover luxury in this 9-bed, 7-bath Fleetwood jewel! Built in 2002, this fully renovated 4650 sq ft home sits on a HUGE 14347 Sq Ft lot. Offering hardwood floors, separate family and living rooms, and parking for 8 cars. 2 + 2 Mortgage Helpers! Enjoy Mount Baker views, top-rated schools (Coast Meridian Elementary and North Surrey Secondary). Centrally located with close proximity to Fraser Hwy and Hwy 15 (and the future SkyTrain Station) means everything is accessible. Nearby amenities include Surrey Sports & Leisure Complex, Fleetwood Library, Tynehead Regional Park, Surrey Golf Club and a Gurudwara. Shopping is a breeze with No Frills, Fresh Street Market, and many others just minutes away! Live in elegance - schedule your viewing now! (id:48205)

9 Bedroom 7 Bathroom 4650 sqft
For sale
$2,899,000
10048 SCOTT ROAD, surrey, British Columbia

10048 Scott Road

Surrey, British Columbia

Centrally located home with DEVELOPMENT POTENTIAL! 16,500+ SQ.FT LOT! Currently 3 bed 1 bath home. Good exposure on the busy Scott road. Centrally located. 3 Km from Scott Road Skytrain Station. Great long term holding property. (id:48205)

3 Bedroom 1 Bathroom 1140 sqft
For sale
$2,880,000
15038 FRASER HIGHWAY, surrey, British Columbia

15038 Fraser Highway

Surrey, British Columbia

Land Assembly - 15043 90A, 15053 90A & 15061 90A Avenue are also listed for sale. The Fleetwood Stage 1 Plan for was endorsed by Surrey City Council on March 7, 2022 to help plan for growth as the community changes and SkyTrain extends along Fraser Highway. Stage 2 Planning is now underway to develop a servicing and financial plan and fine-tune land uses. This site falls under Proposed Mid-Rise, buildable up to 15 storeys. Expo Line Extension under way with the 152 Street Skytrain station at Fraser Highway right across the street. (id:48205)

6 Bedroom 4 Bathroom 2891 sqft
For sale
$2,850,000
9248 124 STREET, surrey, British Columbia

9248 124 Street

Surrey, British Columbia

Luxury living in Queen Mary Park! This magnificent home over 4386 square feet double car garage, situated on huge lot 7975 square feet. 4 bedroom on top floor, spacious living room, family and dining areas, spice kitchens, plus huge rec room downstairs, there are 2+2 bed room suites both are rented, one for $2,100.00 per month and second for $1,800.00 a month. One suite is legal and the other is not. Close to both levels of school, bus stop, and all amenities. Radiant heat, air condition, security system. (id:48205)

8 Bedroom 7 Bathroom 4386 sqft
For sale
$2,850,000
14530 105A AVENUE, surrey, British Columbia

14530 105a Avenue

Surrey, British Columbia

This property is currently designated as "SCHOOL" use in the City's Guildford Town Centre - 104 Avenue Plan. Ideal for move-in and/or short to mid term investment as when the time is due for acquisition by the school authority, the property may be acquired at the then market price for multi-family apartment developments of the same area. The house and the landscape are very well maintained and in a quiet but convenient neighborhood - Ideal for owner occupancy or long term rental while waiting for the notice of purchase from the government. (id:48205)

5 Bedroom 2 Bathroom 2009 sqft
For sale Open House
$2,799,999
9884 121 STREET, surrey, British Columbia

9884 121 Street

Surrey, British Columbia

Located in Cedar Hills with breathtaking views of the sunset, city and mountains, this modern masterpiece boasts a spacious open-concept layout with 8 bedrooms, a den, and 9 bathrooms, all finished with high-quality materials. As you enter home, you'll be impressed by the massive entry leading to a gorgeous living and dining room, beautiful family room, and expansive kitchen with an island and spice kitchen. The home also features great amenities such as high ceilings, large windows, views from all floors, a triple garage and more. Upstairs, you'll find 4 bedrooms plus a den with walk-in closets and en-suite bathrooms, while downstairs features a huge media room, rec room, wet bar and (2+1 bed suite). This home is designed for luxury living with 10171 sqft corner lot. (id:48205)

8 Bedroom 9 Bathroom 6520 sqft
For sale
$2,750,000
16512 77A AVENUE, surrey, British Columbia

16512 77a Avenue

Surrey, British Columbia

Palatial 6BR 4.5BTH in prestigious Coast Meridian Estates. This luxurious 4,890 sqft residence sits atop a tastefully manicured 12,000 sqft+ corner lot w/ 3 car garage & expansive driveway. French doors open into a bright & airy foyer drawing you into elegant, refined spaces w/ thoughtful details throughout. Your chef-inspired kitchen features crisp, granite counters alongside stainless steel Jenn-Air appliances & a walk-in pantry. Enjoy unobstructed views of Northview Golf, Serpentine River Valley & Mt Baker from the comfort of your sprawling, 442 sqft covered balcony or your spacious primary bedroom boasting an enviable, spa-like ensuite. Updated ground level 2BR 1BTH w/ sauna below leads to a private, south-facing backyard w/ in-ground pool - perfect for in laws or as a mortgage helper. (id:48205)

5 Bedroom 5 Bathroom 4106 sqft
For sale
$2,725,000
14816 96 AVENUE, surrey, British Columbia

14816 96 Avenue

Surrey, British Columbia

This development site is the corner of 148 ST & 96 Avenue, a Potential Major Transit Network and between two main booming town centers in Surrey: Guildford and Fleetwood town centers. This site has a 20,946 SQFT gross area, designated for development of Commercial within the Fleetwood NCP (stage 1) , across the street from Green Timbers Urban Forest Park and 1800 meters away from the proposed 152 ST Skytrain station and about 1800 meters from Guildford Town Center Mall. A landmark project is expected on this prime location on 96 Avenue. (id:48205)

3 Bedroom 2 Bathroom 1320 sqft
For sale
$2,725,000
14822 96 AVENUE, surrey, British Columbia

14822 96 Avenue

Surrey, British Columbia

This development site is the corner of 148 ST & 96 Avenue, a Potential Major Transit Network and between two main booming town centers in Surrey: Guildford and Fleetwood town centers. This site has a 28,232 SQFT gross area, designated for development of Commercial within the Fleetwood NCP (stage 1) , across the street from Green Timbers Urban Forest Park and 1800 meters away from the proposed 152 ST Skytrain station and about 1800 meters from Guildford Town Center Mall. A landmark project is expected on this prime location on 96 Avenue. (id:48205)

3 Bedroom 1 Bathroom 920 sqft
For sale
$2,688,000
11689 96A AVENUE, surrey, British Columbia

11689 96a Avenue

Surrey, British Columbia

Custom Built Gorgeous Luxury Home with 10 bedrooms and 8 bathrooms situated on a large 7920 sqft. lot in Royal Heights. Featuring a 3 level home with all high quality work throughout the beautiful home, high ceilings, Upstairs includes 5 huge bedrooms with 2 primary bedrooms and 3 other bedrooms. Main floor has a bedroom with attached washroom and a den. the basement has a 2 bedroom Mortgage helper and there is potential to make a second 2 bedroom suite if desired. plus a huge rec room and a gy. Beautiful mountain views and lots more. (id:48205)

10 Bedroom 8 Bathroom 5976 sqft
For sale Open House
$2,650,000
10671 127A STREET, surrey, British Columbia

10671 127a Street

Surrey, British Columbia

Brand new home (9 bedrooms + office, 9 baths) over 5800 sqft not including garage with unique bright/open plan, 100 percent walk-out basement. All rooms very spacious. Central air-conditioning, radiant hot-water heat, HRV system, camera security system, high-efficiency hot-water furnace, high quality appliances, covered patios/decks, double garage. Main floor features big living and dining rooms, huge family room and designer kitchen, spice kitchen, a large guest bedroom with full en-suite, and a separate office and a powder room. Top floor has a super sized master bedrooms with full en-suite, 4 other spacious bedrooms + 3 full baths. Basement has a huge Media room with wet bar and attached powder room, plus two bedroom and 1 bedroom un-auth suites. 2-5-10 new home warranty. (id:48205)

9 Bedroom 9 Bathroom 5819 sqft
For sale
$2,600,000
15135 91 AVENUE, surrey, British Columbia

15135 91 Avenue

Surrey, British Columbia

This exceptional opportunity presents a scarcely available Mid-Rise building site within the latest Fleetwood NCP, strategically positioned near the forthcoming 152+Fraser Hwy Skytrain station. Currently zoned for Mid-Rise Transition, allowing for up to 3.0 FAR for residential use or up to 3.25 FAR for mixed-use developments. Initial consultations with the Planning Department and the City's Design Review Group indicate strong support for a 22-story building, exceeding the current density specifications. This prime location beckons for the development of a signature landmark within this burgeoning urban hub. Within 200 meters of the proposed skytrain station. (id:48205)

3 Bedroom 1 Bathroom 1288 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