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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
$2,605,000
14704 106 AVENUE, surrey, British Columbia

14704 106 Avenue

Surrey, British Columbia

This property is designated for multifamily development and is a crucial component of a larger land assembly project including 14698, 14704 & 14710, 106 Avenue. Welcome to your prime investment opportunity in Surrey's coveted Guildford area! This property is not just a home; it's a gateway to lucrative possibilities. Boasting an expansive 12,102 sqft lot, this basement entry home offers versatility and space ideal for a range of development projects. Whether you're envisioning luxury townhomes, modern condominiums, or upscale apartments, this property provides the canvas for your vision to come to life. Convenience is at your fingertips with this central location. (id:48205)

5 Bedroom 3 Bathroom 2057 sqft
For sale
$2,605,000
14698 106 AVENUE, surrey, British Columbia

14698 106 Avenue

Surrey, British Columbia

This property is designated for multifamily development and is a crucial component of a larger land assembly project including 14698, 14704 & 14710, 106 Avenue. Fantastic investment opportunity awaits in the highly sought-after Guildford area of Surrey. Situated in a prime, central location, this property is just minutes away from key amenities including the Skytrain Station, Superstore, banks, schools, and more. This spacious basement entry home boasts 5 bedrooms, 3 baths, all nestled on an impressive 12,110 sqft lot. Perfect for families or investors looking to capitalize on the thriving Surrey market. Buyers or their agents are encouraged to verify all measurements for accuracy. Don't miss out on this incredible chance to own in one of Surrey's most desirable neighborhoods. (id:48205)

5 Bedroom 3 Bathroom 2305
For sale
$2,599,000
10659 127A STREET, surrey, British Columbia

10659 127a Street

Surrey, British Columbia

Welcome to this Stunning brand new 3 story, 11 bed & 9 bath luxurious home in North Surrey. Its sits on large 7900+ sq. ft. lot. Main floor features spacious living, dining rooms, modern kitchen, , a master bedroom, & family room. Upper level is reserved for 5 tastefully appointed bedrooms. Lower floor has 2+2 bedroom mortgage helper suites, a theatre room and double garage. This home is FULL of all the modern amenities , high end stainless steel appliances, modern lighting and offers Radiant heating, recreation room & central air conditioning. It comes with 2-5-10 Warranty. Do not miss the opportunity and make this beautiful home as your dream home (id:48205)

11 Bedroom 9 Bathroom 6484 sqft
For sale
$2,599,000
16231 80 AVENUE, surrey, British Columbia

16231 80 Avenue

Surrey, British Columbia

Indulge in the height of luxury living in this remarkable 8 Bed + Den & 8 Bath 3-Level Home. The Great attention to detail is Showcased in this GORGEOUS Home. UPPER level Offers 4 Beds with 2 Masters, Huge Main master with French Doors + Laundry Rm. MAIN FLOOR boasts vaulted ceilings in Living RM, Gourmet Kitchen with High end Kitchen-Aid Appliances, Large island & oodles of cabinets for all your storage needs in main kitchen, Wok Kitchen with own fridge, MASTER BEDRM, Huge Den (Can also be a Bedrm) Open-concept layout seamlessly connects the living, dining & kitchen areas + Walkout deck(ideal for gatherings). Extra cabinetry in Garage for storage. The Basement unveils 2-Bed LEGAL + 1 Bed Suite, Theatre Room + Wet bar. Great Location With Park, Fleetwood.Secondary & Future Skytrain nearby. (id:48205)

8 Bedroom 8 Bathroom 5327 sqft
For sale Open House
$2,590,000
15923 98A AVENUE, surrey, British Columbia

15923 98a Avenue

Surrey, British Columbia

This gorgeous 6 bedrooms, 8 bathrooms house is situated on a 8008 sq.ft. lot. Friendly and ideal neighborhood for the kids! Close to Guildford Mall. A few blocks away from all amenities + Schools + bus/stops. Perfect income helper 2 bedrooms 1 bath suite rented. Roughed in for additional 1 bedroom suite. Suite and square footage not shown on floor plans and in photos. Basement has a cozy separate theatre room for upstairs use in addition to a bar area. Has "smart" lighting. In ground sprinkler system with 3 zones. Back & front yard garden sensors ie. if raining system won't turn on automatically. Thermostat zones entry, kitchen, living, master, shared for others. Nest smart thermostat 9 ft. /vaulted ceiling, 8 ft. doors on main floor. Driveway is built for kids to play basketball. (id:48205)

8 Bedroom 8 Bathroom 5885 sqft
For sale
$2,589,000
13978 113A AVENUE, surrey, British Columbia

13978 113a Avenue

Surrey, British Columbia

Brand new home (10 bedrooms + office + Recreation Room, 10 baths) over 6400 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 recreation 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, plus two bedroom and 2 bedroom un-auth suites. (2+2). 2-5-10 new home warranty. (id:48205)

10 Bedroom 10 Bathroom 6439 sqft
For sale
$2,588,800
11433 154A STREET, surrey, British Columbia

11433 154a Street

Surrey, British Columbia

VIEW VIEW VIEW PANORAMIC VIEW OF RIVER, MOUNTAIN & PARK!!! Exceptionally Built by MORNINGSTAR HOMES LTD. (Polygon Associate). CLASSIC and MODERN, Gracious Foyer, Eye-catching Semi-circular Staircase. Impressive separate dining room with 18' ceilings. Outstanding kitchen offers lots of custom crafted wooden cabinets, Centre island, Pantry, Family size eating area. Unique designed Family room highlighted by 2 angled wall of Bay Windows with WIDE OPEN BREATH-TAKING VIEWS of the Fraser River & Snow capped Mountains. Quiet master bedroom boasted double door entry, vaulted ceilings & deluxe ensuite. All with Stunning views. Fully Finished GROUND LEVEL WALKOUT Basement features playroom, 2 bedrooms, den, full bathroom, High Speed EV Charger installed in Garage. Long driveway RV can park. (id:48205)

6 Bedroom 4 Bathroom 4069 sqft
For sale
$2,588,000
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
$2,579,000
9053 ALEXANDRIA CRESCENT, surrey, British Columbia

9053 Alexandria Crescent

Surrey, British Columbia

Brand new home (8 bedrooms + Den, 8 baths) approximately 5800 sqft built area with unique bright/open plan. 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 master bedroom with full en-suite, and a Den and a powder room. Top floor has two super sized master bedrooms and two other bedrooms with a shared full bath. Basement has a huge Media room with wet bar and attached powder room, plus 2 bedrooms legal suite and 1 bedroom in-law suite. Reputable experienced builder, 2-5-10 new home warranty. (id:48205)

8 Bedroom 8 Bathroom 5860 sqft
For sale
$2,549,853
9326 152 STREET, surrey, British Columbia

9326 152 Street

Surrey, British Columbia

Exciting Land Assembly Opportunity in Fleetwood! Attention developers and investors! Presenting a prime land assembly opportunity in the heart of Fleetwood, Surrey. This assembly comprises four properties, strategically located within the approved Stage 1 of the Fleetwood Plan. With a total land area of 28,391 sqft, this parcel offers immense potential for the development of a low-rise residential building. positioned just 650 meters away from the future Sky Train station at 152nd and Fraser, Guildford town Centre nearby, this location boasts excellent connectivity and accessibility, promising a convenient lifestyle for future residents. properties will generate substantial rental income, offering a lucrative opportunity for interim returns while planning for development. (id:48205)

6 Bedroom 4 Bathroom 2385 sqft
For sale
$2,549,853
9342 152 STREET, surrey, British Columbia

9342 152 Street

Surrey, British Columbia

Exciting Land Assembly Opportunity in Fleetwood! Attention developers and investors! Presenting a prime land assembly opportunity in the heart of Fleetwood, Surrey. This assembly comprises four properties, strategically located within the approved Stage 1 of the Fleetwood Plan. With a total land area of 28,391 sqft, this parcel offers immense potential for the development of a low-rise residential building. positioned just 550 meters away from the future SkyTrain station at 152nd and Fraser, Guildford town Centre nearby, this location boasts excellent connectivity and accessibility, promising a convenient lifestyle for future residents. properties will generate substantial rental income, offering a lucrative opportunity for interim returns while planning for development. (id:48205)

5 Bedroom 3 Bathroom 2870 sqft
For sale
$2,549,853
9334 152 STREET, surrey, British Columbia

9334 152 Street

Surrey, British Columbia

Exciting Land Assembly Opportunity in Fleetwood! Attention developers and investors! Presenting a prime land assembly opportunity in the heart of Fleetwood, Surrey. This assembly comprises four properties, strategically located within the approved Stage 1 of the Fleetwood Plan. With a total land area of 28,391 sqft, this parcel offers immense potential for the development of a low-rise residential building. positioned just 550 meters away from the future SkyTrain station at 152nd and Fraser, Guildford town Centre nearby, this location boasts excellent connectivity and accessibility, promising a convenient lifestyle for future residents. properties will generate substantial rental income, offering a lucrative opportunity for interim returns while planning for development. (id:48205)

6 Bedroom 4 Bathroom 2680 sqft
For sale
$2,549,853
9314 152 STREET, surrey, British Columbia

9314 152 Street

Surrey, British Columbia

Exciting Land Assembly Opportunity in Fleetwood! Attention developers and investors! Presenting a prime land assembly opportunity in the heart of Fleetwood, Surrey. This assembly comprises four properties, strategically located within the approved Stage 1 of the Fleetwood Plan. With a total land area of 28,391 sqft, this parcel offers immense potential for the development of a low-rise residential building. positioned just 550 meters away from the future SkyTrain station at 152nd and Fraser, Guildford town Centre nearby, this location boasts excellent connectivity and accessibility, promising a convenient lifestyle for future residents. properties will generate substantial rental income, offering a lucrative opportunity for interim returns while planning for development. (id:48205)

5 Bedroom 3 Bathroom 2320 sqft
For sale
$2,538,000
16333 90 AVENUE, surrey, British Columbia

16333 90 Avenue

Surrey, British Columbia

For more information, click the Brochure button below. Nice big corner lot 16552 sq ft. 3 bedrooms on main, one bedroom in basement and a den in loft. Beautiful chefs kitchen and a wet bar. 4 sky lights gives lots of natural light all on main floor also you can walk out on to the new rebuilt sun deck 450 sq ft with new flooring and railings and awning. Below there is a walk out basement and has a 1 bedroom 1 full bathroom, washer and dryer and nice full kitchen 800s sq ft suite. Additional accommodation is attached to main house and has the 1200 sq ft shop with a wonderful loft above with 1 bedroom 4 piece bath with washer and dryer and full kitchen with 4 sky lights with vaulted ceiling. Endless options for opportunities! Lots of potential this home has to offer! (id:48205)

5 Bedroom 5 Bathroom 4798 sqft
For sale
$2,500,000
13875 COWAN ROAD, surrey, British Columbia

13875 Cowan Road

Surrey, British Columbia

Land Assembly 4 properties. Part of Bolivar heights city centre plan. Designated Low Rise residential type ii. To be sold together with 13878 Selkirk Dr, 13868 Selkirk Dr. and 13860 Selkirk Drive. 30,000 Sq feet approximately facing 2 streets. (id:48205)

3 Bedroom 2 Bathroom 2140 sqft
For sale
$2,500,000
13860 SELKIRK DRIVE, surrey, British Columbia

13860 Selkirk Drive

Surrey, British Columbia

Land Assembly 4 properties. Part of Bolivar heights city centre plan. Designated Low Rise residential type ii. To be sold together with 13878 Selkirk Dr, 13868 Selkirk Dr. and 13860 Selkirk Drive. 30,000 Sq feet approximately facing 2 streets. (id:48205)

4 Bedroom 3 Bathroom 2567 sqft
For sale
$2,500,000
9350 152ND STREET, surrey, British Columbia

9350 152nd Street

Surrey, British Columbia

INVESTOR/DEVELOPER ALERT!! Exciting opportunity: Join the "Fleetwood Plan" endorsed by Surrey City Council to prepare for community growth and the Fraser Highway SkyTrain extension (Surrey-Langley SkyTrain). Stage 2 Planning is ongoing. This assembly comprises of 3 properties with the total land area of 21,580.08 sqft. (id:48205)

6 Bedroom 4 Bathroom 2214 sqft
For sale
$2,500,000
9364 152 STREET, surrey, British Columbia

9364 152 Street

Surrey, British Columbia

INVESTOR/DEVELOPER ALERT!! Exciting opportunity: Join the "Fleetwood Plan" endorsed by Surrey City Council to prepare for community growth and the Fraser Highway SkyTrain extension (Surrey-Langley SkyTrain). Stage 2 Planning is ongoing. This assembly comprises of 3 properties with the total land area of 21,580.08 sqft. (id:48205)

5 Bedroom 3 Bathroom 2370
For sale
$2,500,000
9378 152 STREET, surrey, British Columbia

9378 152 Street

Surrey, British Columbia

INVESTOR/DEVELOPER ALERT!! Exciting opportunity: Join the "Fleetwood Plan" endorsed by Surrey City Council to prepare for community growth and the Fraser Highway SkyTrain extension (Surrey-Langley SkyTrain). Stage 2 Planning is ongoing. This assembly comprises of 3 properties with the total land area of 21,580.08 sqft. (id:48205)

3 Bedroom 3 Bathroom 1996
For sale
$2,499,999
10464 154A STREET, surrey, British Columbia

10464 154a Street

Surrey, British Columbia

Welcome home to this beautiful freshly renovated home. This home boasts 4 bedrooms and two bathrooms. Downstairs there is a two bedroom basement suite which can help you with your mortgage. Excellent rental income. ***Builder/Investor Alert*** Future land assembly. Please confirm with the City of Surrey. (id:48205)

4 Bedroom 2 Bathroom 1728 sqft
For sale
$2,499,999
14511 110 AVENUE, surrey, British Columbia

14511 110 Avenue

Surrey, British Columbia

Rare Dream Home with Beautiful Architectural Design! Main floor features an open concept layout with custom designed kitchen, spice kitchen, $10,000 of entertainment setting in the family room, guest bedroom with full attached bath, office, and powder room. Upstairs has a 4 large sized bedrooms each with a full bathroom ensuite and walk-in closet. 3 bed in basement area with separate Rec. Room & Theatre room. Quality throughout the entire home. Home is in amazing condition & shining clean! Walking distance to schools, public transit, rec centre, library, and Guildford mall. Easy access to all major routes. (id:48205)

9 Bedroom 9 Bathroom 5510
For sale
$2,499,900
15648 110 AVENUE, surrey, British Columbia

15648 110 Avenue

Surrey, British Columbia

** GST INCLUDED ** Welcome to the ONLY BRAND NEW home located in *PRIME* FRASER HEIGHTS! This amazing 4850 sqft property offers 8 BDRMS plus large loft area & 8.5 BATHS spread over 3-levels (all w/ RADIANT, IN-FLOOR HEATING). Features include MAIN FLOOR MASTER BDRM, A/C, WRAPAROUND GLASS at the stairs, EXTRA LARGE FRIDGE & FREEZER combo plus a SLEEK DOWNDRAFT, all 4 top floor bdrms have their own PRIVATE BATHS, LEGAL 2-BDRM SUITE plus another big living room + potential 1 bdrm & full bath, extra MEDIA ROOM w/ FULL BATH, PAVING STONE D/W, & more! *IMPORTANT: This is located in the heart of Fraser Hts & is walking distance to both elementary & secondary schools plus all other amenities (grocery store, medical & dental clinics, pharmacy, Starbucks, restaurants, banks, etc)* (id:48205)

8 Bedroom 9 Bathroom 4849 sqft
For sale
$2,499,888
17030 79A AVENUE, surrey, British Columbia

17030 79a Avenue

Surrey, British Columbia

LOCATION! LOCATION! LOCATION! Welcome to this luxury home in the highly sought after Fleetwood neighborhood. As soon as you enter you are greeted by double height ceilings, 12 ft ceilings in the formal dining/formal living area, w/custom millwork, High end laminate flooring, A/C, beautiful natural Quartz countertops & high end S/S appliances. This home offers 4 spacious bedrooms, a master bedroom on the main, a great open floor plan, 2 bedroom legal suite, a theatre room, and another 1 bedroom suite! Attention to detail is evident with double insulation, designer finishing and luxury lighting throughout. Built in custom speakers, recessed lighting & much more. This home meets modern and luxury at its finest! Open House June 9th, 2:00-4:00PM (id:48205)

8 Bedroom 8 Bathroom 5233 sqft
For sale
$2,499,000
13750 LARNER ROAD, surrey, British Columbia

13750 Larner Road

Surrey, British Columbia

Beautiful custom built home, sitting on a large lot of 7872 sqft. nearby King George Blvd., gateway skytrain. developing area for multi family, please verify with city. Upstairs has bright & sunny living and dining rooms, modern gourmet kitchen with S/S appliances & additional wok kitchen. Big and spacious family room with covered deck for entertainment. 4 large sized bedrooms upstairs with ensuite. Central air conditioner, radiant floor heating, built-in-vacuum. Close to major routes and amenities. won't last long. (id:48205)

7 Bedroom 7 Bathroom 3958 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