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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
$1,650,000
14095 110 AVENUE, surrey, British Columbia

14095 110 Avenue

Surrey, British Columbia

Check this large, almost 10,000 sq ft lot. It's on a quiet street, surrounded by newly built homes, close to schools, recreation, and just a few minutes from the bus or Sky train. Perfect lot and location to build your dream home, or hold for now and build later as there are two mortgage payers on the property. Schedule a viewing anytime. (id:48205)

3 Bedroom 2 Bathroom 1505
For sale
$1,649,900
12792 113B AVENUE, surrey, British Columbia

12792 113b Avenue

Surrey, British Columbia

WELCOME TO THIS FANTASTIC WELL KEPT HOME IN VERY CONVENIENT LOCATION. Like a Brand new home this home features 6 Bedrooms,5 Bathrooms on a corner lot. House is still under New Home 2-5-10 Years warranty. Main floor have a very spacious Kitchen with Maple kitchen cabinets, Granite counter tops, Family room with gas fire place, Primary room with full ensuite, Powder room, Radiant Heat, Stainless steel Appliances.2 Master bedrooms. 2 Bedroom Basement suite and Double Garage. Very private fenced back yard. View of mountains from upper floor. Walking distance to schools, Park, Bus and Skytrain. Easy access to all major routes. Don't Miss this one. (id:48205)

6 Bedroom 5 Bathroom 3084 sqft
For sale
$1,649,898
13721 114 AVENUE, surrey, British Columbia

13721 114 Avenue

Surrey, British Columbia

Locally know as "The Gingerbread House" this comp updated 2 level, 3 bdrm smart home boasts an open flr plan loaded with designer updates incl: lrg shaker cabinet kit with quartz counters, under mount sink, LED lighting, wine rack, B/I computer station, bay window dining rm, wifi controlled lamps-light-laundry, R32 insulation, thermo windows, 50 yr roof, furnace & A/C, music rm with bar, infrared sauna, huge mbdrm with balcony and spa like ensuite with dble sinks, waterfall faucets, walk-in shower and a four poster jacuzzi with chromotherapy lighting. Very private 12k+ sqft pan handle lot with mature trees and a B/yard oasis that backs onto creek with mtn views & a huge 1070 sqft entertaining deck with smoked glass railings & LED deck and tree uplighting. Must see to appreciate! (id:48205)

3 Bedroom 3 Bathroom 2250 sqft
For sale
$1,629,000
13768 114A AVENUE, surrey, British Columbia

13768 114a Avenue

Surrey, British Columbia

Court ordered sale. A rare opportunity to own a quarter acre parcel with views. The property features five beds, three baths and has been improved over the years. The lot also owe offers a back lane access and future subdivision possibility. Don't miss out on this unique opportunity to own a parcel in one of the most developing neighbourhoods of Surrey and located just mirror blocks to rapid development around city centre. (id:48205)

6 Bedroom 3 Bathroom 2495 sqft
For sale
$1,628,000
15482 108A AVENUE, surrey, British Columbia

15482 108a Avenue

Surrey, British Columbia

This Exquisite 5 Bed, 4 Bath is nestled in the desirable Fraser Heights, Contemporary Beauty with many attractive bells and whistles. Set privately among an attractive array on a Southern Exposed Beautiful private backyard with a Large deck. BRAND NEW ROOF 2022, BRAND NEW HEAT PUMP 2023. The Main level boasts hardwood flooring, a Spacious kitchen, a large Bedroom with Ensuite Bathroom, two Fireplaces, and an appealing layout. Only few minutes walk to Dogwood Elementary, 10 minutes walk to Fraser Heights Secondary and Fraser Heights Recreation Centre! With Pacific Academy only a few minutes away! Moments away from parks, shopping, restaurants. This is something you won't want to miss out on! OPEN HOUSE: JUNE 9, SUN 2-4PM (id:48205)

5 Bedroom 4 Bathroom 2303 sqft
For sale
$1,600,000
9460 152 STREET, surrey, British Columbia

9460 152 Street

Surrey, British Columbia

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

3 Bedroom 2 Bathroom 1427 sqft
For sale
$1,599,999
10972 152 STREET, surrey, British Columbia

10972 152 Street

Surrey, British Columbia

[[[ 3 RENTAL SUITES BELOW - LOTS OF INCOME ]]] Big Lot 7,355 sq.ft & house is 2 Level 2,865 sq.ft. . Corner lot & Renovated House. (id:48205)

6 Bedroom 5 Bathroom 2865
For sale
$1,599,900
11454 141A STREET, surrey, British Columbia

11454 141a Street

Surrey, British Columbia

This stunning, fully renovated 6-bedroom, 2-bathroom residence nestled in the charming Bolivar Heights area is a must-see gem! Boasting 2,194 square feet of space on a 10,452 square foot lot, this home features a newly renovated kitchen complete with a smart fridge, brand-new appliances, and a beautifully designed living and dining area. The main floor showcases three bedrooms and an upgraded bathroom with a bidet, while the lower level offers three additional bedrooms, a spa-like bathroom, a spacious elegant & updated kitchen, and a large rec room. Outside, discover an entertainer's dream with a fully covered patio, hot tub, outdoor fire table, basketball court, and yes, a putting green! With over $200,000 invested in upgrades and renovations, this residence is truly one of a kind! (id:48205)

6 Bedroom 2 Bathroom 2194 sqft
For sale
$1,598,800
14848 BLACKBIRD CRESCENT, surrey, British Columbia

14848 Blackbird Crescent

Surrey, British Columbia

Welcome to 5 bedroom / 3 bath split level home sitting on 8000 sqft lot in Bolivar Heights!!! The home has a generously sized living room, eating area and LARGE semi open concept kitchen. Covered patio off the Living room leads to the HUGE fenced backyard. Close to Both Levels of schools, parks, minutes to Guildford Mall and all other amenities. GREAT INVESTMENT & RENTAL POTENTIAL! Don't miss out!!! (id:48205)

5 Bedroom 3 Bathroom 1750 sqft
For sale
$1,598,000
14658 112 AVENUE, surrey, British Columbia

14658 112 Avenue

Surrey, British Columbia

Northview! The fantastic 7 bed 5 bath house with 2 or 3 bedrooms legal suite which is registered with city. Great Mortgage helper. High ceilings in highly sought after North Surrey's Bolivar Heights! The house has very well thought out floor plan clearly defining spaces for play, work, family, and eating over 3 spacious floors. This house is built with geothermal heating and cooling so if you are looking for energy efficiency. Garage floor professionally coated with a Poly aspartic treatment. You'll be steps away from Bon Accord Creek in Invergarry Bike Park, few mins walk from Ellendale Elementary School, and a very short 5 min drive to Guildford Secondary. Nearby convenience incl. Holly Park & Swimming Pools, many restaurants & stores. (id:48205)

7 Bedroom 5 Bathroom 3519 sqft
For sale
$1,595,000
14860 89 AVENUE, surrey, British Columbia

14860 89 Avenue

Surrey, British Columbia

ATTENTION BUILDERS/INVESTORS! Bear Creek has always been known for being one of the most central locations in Surrey, and this hidden gem does not disappoint! Located on a quiet inner street this 7800 sq.ft. lot boasts versatility at its finest - Enjoy the privacy of this lot and build your dream home or utilize it as a rental as development nears as this property is situated in the Stage 1 Fleetwood Plan. (id:48205)

5 Bedroom 2 Bathroom 2002 sqft
For sale
$1,588,888
14733 108A AVENUE, surrey, British Columbia

14733 108a Avenue

Surrey, British Columbia

OPEN HOUSE SAT & SUN, MAY 18 & 19, 2 PM -4 PM.! CLOSE to GUILDFORD MALL!! 2 storey house sits on a 7690 SQ FT lot area with 66ft Frontage. Fully renovated 6 bed & 3 baths available for you. The main floor includes a New kitchen cabinet with a good size 3 bedrooms and living room. Separate entry to the basement area and other features include updated flooring, paint, stainless appliances, lighting fixtures, a new furnace & hot water tank. Ample parking on the newly paved driveway. Close to the recreation center, shopping, transit, and freeway. Good choice for investments. (id:48205)

6 Bedroom 3 Bathroom 2202 sqft
For sale
$1,584,000
13496 113 AVENUE, surrey, British Columbia

13496 113 Avenue

Surrey, British Columbia

For more information, click the Brochure button below. Wonderfully practical house in emerging North Surrey! This updated and well maintained home sits in a quiet residential area on a 7,204 sqft corner lot. Ground floor is comprised of lobby, living, dining, a spacious kitchen (ceramic cooktop, intelligent gas oven, stainless steel fridge w/ice dispenser), laundry / bathroom, and a tech closet convertible to a pantry. The upstairs includes 4 bedrooms, the main bathroom and a large study. Master bedroom has a 2-piece en-suite. The front bedroom is set up as office space, it has a balcony and A/C. Impeccably finished and organized 2-car garage w/ shop area at the back, motorized overhead doors, automatic ventilation system, card/keypad access, CCTV and stereo/MP3. Six open parking spaces! (id:48205)

4 Bedroom 3 Bathroom 2136 sqft
For sale
$1,580,900
9045 146 STREET, surrey, British Columbia

9045 146 Street

Surrey, British Columbia

Well maintained and super clean 6 bedroom, 5 bathroom, two storey home on a 8,081 sq. ft. lot with a very private west facing inground pool, hot tub, and 3 hole putting green. Pool has its own 3 pce bath next to the storage unit. Elegant living room with gas fireplace, vaulted ceiling adjacent to spacious dining room. Kitchen has oak cabinetry and tile backsplash. West facing family room has a gas fireplace and is adjacent to the kitchen eating area with sliding doors to the private patio. Master bedroom has a shower ensuite and a walk-in closet. Other 5 good size bedrooms. 2 bedroom mortgage helper for additional rental income. Call to book your private showing today! Open house Sat & Sun (June 15/16) 2-4pm. (id:48205)

6 Bedroom 5 Bathroom 2733 sqft
For sale Open House
$1,569,000
9127 146A STREET, surrey, British Columbia

9127 146a Street

Surrey, British Columbia

Step into this meticulously renovated 5-bed, 3-bath haven. Lovingly maintained, it boasts new paint, windows, furnace, and on-demand hot water. The kitchen dazzles with white cabinets and stainless-steel appliances, perfect for gatherings. Stay cozy with a real wood-burning fireplace and bask in natural light from skylights. Outside, enjoy a new sundeck, railings, and patio cover in a fully fenced backyard with ample parking. Includes a 2-bed unauthorized suite. Nestled in a tranquil cul-de-sac on a 7200 sqft lot, close to transportation, schools, and shops. Schedule your private viewing today! (id:48205)

5 Bedroom 3 Bathroom 2571 sqft
For sale
$1,549,999
11126 147A STREET, surrey, British Columbia

11126 147a Street

Surrey, British Columbia

This beautiful home in Bolivar Heights offers a total of 6 bedrooms and 3 bathrooms. It is located on a massive lot. The entire home has been freshly renovated, including the basement suites. Two mortgage helper (2+1) suties. 3 level home potential, as many newly built 3 level homes in surrounding areas. (id:48205)

6 Bedroom 3 Bathroom 2175
For sale
$1,549,888
14885 92 AVENUE, surrey, British Columbia

14885 92 Avenue

Surrey, British Columbia

FRASER HWY CORRIDOR!!! Fleetood/Green Timbers. Lovingly cared for 1 owner home! Nearly 2200 sq ft 4 bdrm 2 baths on over 7200 sq ft lot in FAST DEVELOPING AREA. Part of Fleetwood Town Center plan. Bring your design ideas for for updates or buy now and hold for future development of Skytrain. Bsmt w/sep entry for pot. mortgage helper. Thermal windows done, walk to shopping, schools and transit. showings by apptmt (id:48205)

4 Bedroom 2 Bathroom 2170 sqft
For sale
$1,548,800
14693 ASHFORD PLACE, surrey, British Columbia

14693 Ashford Place

Surrey, British Columbia

Welcome to your future home in the Heart of Surrey, where the perfect blend of convenience and potential awaits! This captivating property boasts a GENEROUS 9692 SQFT LOT, a large canvas for potential builders! Transform this property into your dream home or consider it as a lucrative long-term investment, with its flexible layout and VACANT mortgage helper. Buy now and hold in a centrally located part of Surrey, this property will benefit from the upcoming Skytrain 152 Station. (id:48205)

8 Bedroom 2 Bathroom 1988 sqft
For sale
$1,545,800
8922 156 STREET, surrey, British Columbia

8922 156 Street

Surrey, British Columbia

Discover a fantastic opportunity with this well-kept home in the heart of the Fleetwood area. This spacious 7,967 sq ft lot features a home with 4 bedrooms and 3 bathrooms, perfect for your family's needs. Located in a developing neighborhood, this property is situated in the sought-after Fleetwood Plan area. The large flat backyard is ideal for family time, providing a perfect space for outdoor activities and relaxation. The has designated the area for up to 6 stories, offering opportunities for future development. The property includes an unauthorized 1 bedroom suite, perfect for extra income or accommodating extended family. The designated low-rise area with an FAR of 2.2 (to be verified with City authorities) makes this a smart long-term investment with future land assembly potential. (id:48205)

4 Bedroom 3 Bathroom 1954 sqft
For sale
$1,525,000
8927 146A STREET, surrey, British Columbia

8927 146a Street

Surrey, British Columbia

**CENTRAL BEARCREEK/GREEN TIMBERS AREA**2280 sqft 2 STOREY basement entry home sitting on a MASSIVE 8042 sqft LOT** This home features 3 bedrooms up & 2 FULL baths, Master bedroom has a walk-in closet with en-suite, a DEN big enough to be the 4th bedroom if needed with access to the LARGE deck. The main floor has a large living room attached to the dining room, a good sized kitchen with newer counter tops & Stainless Steel appliances. The basement is FULLY FINISHED into a 2 bedroom SUITE with SEPARATE kitchen, living, dining & private entrance. The Large backyard is perfect for kids & entertaining. The recent updates include, brand new FURNACE, newer gutters, fencing, DECK, flooring & roof changed only 7 years ago. Close shopping & major transportation routes. Call for more information or a private viewing. (id:48205)

5 Bedroom 3 Bathroom 2280
For sale
$1,499,999
11352 GLEN AVON DRIVE, surrey, British Columbia

11352 Glen Avon Drive

Surrey, British Columbia

Beautiful 2 story single house at very quiet Bolivar Heights Area! 7 bedrooms / 4 full bathroom on a large corner lot. New open concept kitchen with high end appliances up and down. New kitchen with gas stove include STS appliances up and down. completely Renovated property which includes laminate floor, pot lights, granite counter tops new bathrooms, Doors + New siding all around new gutters, paint & windows. Close to Ellendale elem & Guilford park Secondary, bus stop. Huge sundeck surrounded with glass railing. large fenced back yard for BBQ and kids to play. Two suites in basement (1 bedroom+2 bedrooms). Total rent approximately $5000.00. Lots of parking along the road. Easy access to Highway. Close to schools, transits and shopping malls. Don't miss! Call now for your private showings! (id:48205)

7 Bedroom 4 Bathroom 2670 sqft
For sale
$1,499,999
15487 93 AVENUE, surrey, British Columbia

15487 93 Avenue

Surrey, British Columbia

INVESTORS/BUILDERS OR FIRST TIME HOME BUYERS!!! Berkshire Park Beauty! Absolutely stunning family home 6 bed/ 4 bath rancher W/mortgage helper in the most desirable area of Fleetwood, move in ready, surrounded by all levels of public and private schools, plus close to Fraser hwy. This beauty has been completely updated. Close to all types of shopping, restaurants, community amenities and easy freeway access for commuters. Short walk to Berkshire Park and Elementary School. Located on a quite street. This one won't last!! PRICED TO SELL. (id:48205)

6 Bedroom 4 Bathroom 2123
For sale
$1,499,900
9742 149 STREET, surrey, British Columbia

9742 149 Street

Surrey, British Columbia

LOCATION LOCATION LOCATION! THIS SOLID HOUSE ENJOYS A PERFECT LOCATION IN A SAFE AND SUPER QUITE NEIGHBORHOOD. JUST A FEW MINUTES ON FOOT TO TRANSIT, EASY ACCESS TO HIGHWAY 1, 152 STREET, 100 AVE AND KINGGEORGE. EXTREMELY FRIENDLY TO COMMUNTORS. WITH GREEN TIMBER URBAN FOREST PARK TO THE WEST, BONACCORD PARK RIGHT BE THE FENCE OF THE BACKYARD. RENOWNED BONACCROD ELEMENTARY AND JOHNSTON HEIGHTS SECONDARY BOTH WITHIN WALKING DISTANCE, IT'S A GREAT PLACE FOR FAMILIES AND TO RAISE UP CHILDREN.NICE RECTANGULAR 7142 SQFT LOT BRINGS GREAT PRIVACY AND PONTENTIAL FOR REDEVELOPMENT. BUILT SOLID WITH GOOD LAYOUT WITH 3 BEDROOMS UPSTAIRS, BATHROOM ON BOTH MAIN AND UPPER LEVEL. 2 CAR GARAGE, DRIVEWAY ALLOWS EXTRA 4 PARKING AND PARKING SPACE EVEN AVAILABLE FOR RV IN THE BACKYARD. (id:48205)

3 Bedroom 2 Bathroom 1690 sqft
For sale
$1,499,000
11258 LOUGHREN AVENUE, surrey, British Columbia

11258 Loughren Avenue

Surrey, British Columbia

Located in quiet yet central location this house is ideal for a family members working in different parts of the city. Located in Guildford, it is 30 minute drive to Downtown Vancouver, 15 minute to Burnaby, 35 minute drive to Abbotsford. The ground level suite can be rented out as a mortgage helper. Near to grocery stores and parks. Call today to schedule a showing (id:48205)

5 Bedroom 3 Bathroom 2742 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