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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
$1,788,000
11299 132 STREET, surrey, British Columbia

11299 132 Street

Surrey, British Columbia

To present the unique opportunity to acquire 11295& 11299 132st land assembly("the Site"), an exceptionally well-located residential redevelopment site with Mountain and water view . With 133.9 feet of frontage along 132 street. Prominently situated beside the Secondary plan of the city Centre Plan of Surrey. This development opportunity offers the high potential to build multi-family residential with a premium, sought-after location in North Surrey, with the potential to yield a designation to support low and medium density residential. The densities' range up to 72 units per hectare( 30 units per acre), 1.0 X FSR density after rezoning coordinate the neighborhoods. The Site is currently improved with rental suits, providing stable holding income during the redevelopment process. (id:48205)

6 Bedroom 3 Bathroom 2052
For sale
$1,750,000
14895 FRASER HIGHWAY, surrey, British Columbia

14895 Fraser Highway

Surrey, British Columbia

Investor Alert! Buy now and hold for Potential Land Assembly. Stage 1 Fleetwood Plan. Low Rise or higher. Located in popular Fleetwood close to all amenities on future potential Surrey to Langley Skytrain route. House is still in good condition featuring 3 bedrooms on the main and 2 bedroom down. Call for more details. (id:48205)

5 Bedroom 3 Bathroom 2600
For sale
$1,750,000
9137 MALCOLM PLACE, surrey, British Columbia

9137 Malcolm Place

Surrey, British Columbia

Fully and beautifully renovated house in high demanding area. 4 bedrooms, 3 bathrooms,living room kitchen upstaris use and two bedroom and one bedroom suite downstaris for mortgage helper. close to both levels of schools and shopping centre.House incluedes,New floor,new kitchen,new roof, new driveway, quartazs counter tops,S/S appliances,brand new bathrooms. Great location walking distance to Robertson Drive Park.Walking distance to wall mart on 88th ave. easy to see,call for an appointment. (id:48205)

7 Bedroom 5 Bathroom 3177
For sale
$1,749,888
8499 156A STREET, surrey, British Columbia

8499 156a Street

Surrey, British Columbia

Well maintained, three level split home is situated on a quiet cul-de-sac in a great neighbourhood. Beautiful Brazilian cherry wood flooring in the living & dining rooms. Kitchen with centre island & eating area, family rm with gas fireplace & french doors to the partially covered west facing rear deck. Laundry on the main with sink. Up are the primary bdrm with 5 pc ensuite, inc soaker tub, large shower & walk-in closet, 2 addtl bdrms & 4 piece bathroom. Down is a bright basement with windows all around, massive rec room & summer Kitchen. Very easy to suite. Hot water in floor heating for a cozy basement & AC in the bedrooms for the cool summer nights. Garage - 100 amp panel & RV plug in. Flat lot is beautifully landscaped w/ inground sprinklers. Ready for you to move in! Open Apr 14, 2-4 (id:48205)

3 Bedroom 4 Bathroom 2994
For sale
$1,749,000
9427 161 STREET, surrey, British Columbia

9427 161 Street

Surrey, British Columbia

IMMACULATELY MAINTAINED inside and out with absolutely nothing for you to do other than to enjoy life. Buy PEACE OF MIND with roof, gutters, skylights, majority of windows, & hot water tank all replaced. Buy COMFORT with newer appliances, flooring, bathroom & kitchen renovations, built-in vacuum, alarm system & central air conditioning. Enjoy OUTDOOR LIVING with a 324 sqft patio with new rubber patio coating, patio cover for year round enjoyment, natural gas connection, large yard, vegetable garden, & storage shed. This over 2900 sqft home has large bedrooms, a home office, tons of storage, spacious laundry room, formal and informal living areas & abundant natural light. A short walk to all levels of school and many trails and parks close by. Easy access to the freeway & close to shopping. (id:48205)

4 Bedroom 3 Bathroom 2904
For sale
$1,749,000
9814 157 STREET, surrey, British Columbia

9814 157 Street

Surrey, British Columbia

Welcome to this beautiful renovated family home on Guildford. This one of a kind 5 beds, 2.5 baths, 2875 sq.ft. of living space on 7060 sq.ft. lot. Home is covered with tons of wood panel and Paneled ceilings. Enjoy cooking in a gourmet kitchen with lots of storage, granite counter top and SS appliances. Room for a large family with a massive living room, one bedroom, a family room and a large covered deck beside the family room on main floor. Tank-less instant hot water system, and heat pump/air conditioning system that always ensures perfect comfort. 4 generous size bedrooms, 2 full bath and laundry room on the top floor. Private fenced yard and a double attached garage. Call today for your private showing. (id:48205)

5 Bedroom 3 Bathroom 2875
For sale
$1,748,888
14164 89A AVENUE, surrey, British Columbia

14164 89a Avenue

Surrey, British Columbia

Welcome to this beautiful two level well maintained home which is perfect for any family. On the main floor there is a great sized living room and dining with 3 bedrooms and 2 bathrooms. There is a 2 bedroom unauthorized basement suite which provides a great mortgage helper. The home sits on over 8,000 Sq Ft lot which is great for a family that requires additional parking and yard space. This home has been well-maintained: Fresh paint and new stainless steel appliances. Catchment Schools : Creekside elementary & Queen Elizabeth secondary (id:48205)

5 Bedroom 3 Bathroom 2370
For sale
$1,748,000
7758 169A STREET, surrey, British Columbia

7758 169a Street

Surrey, British Columbia

Sought after single house in FLEETWOOD, the fast growing community along the Fraser Hwy in Surrey. Within walking distance to the future skytrain station & Surrey Public Golf Course. This beautiful 3 level FOXRIDGE HOME features high ceilings, hardwood floors, granite counters, and quality stainless appliances. luxurious Master bedroom has its own balcony and 5 piece ensuite. Fully finished basement with family room, games room, guest room, full bath and flex room/office area. The seperate entrance makes it easy to be converted to a rental suite. Study/office on the main provides the possibility of work from home. Practice your putting in your own fenced back yard while enjoying the green and BBQ on the huge covered deck. This is where you call home sweet home. Easy to show. (id:48205)

4 Bedroom 4 Bathroom 3357
For sale
$1,700,000
13312 SUTTON PLACE, surrey, British Columbia

13312 Sutton Place

Surrey, British Columbia

Welcome! to this quiet south-facing cul-de-sac 10,552 sq ft lot home in this prestigious "Queen Mary Park", a perfect location close to Surrey City Central. Beautiful 2 level home with the main floor featuring 3 bedrooms, full washroom, master bedroom (washroom included 2 Pc), living room, and dinning room with a stunning front view sundeck. 2 mortgage helpers (2+1)$3500 rental income. Close to Queen Elizabeth Secondary School, AHP Matthew Elementary, Skytrain station, and government facilities. Book your Private Showing today! OPEN HOUSE: April 6 and April 7, 2PM to 4PM. (id:48205)

6 Bedroom 4 Bathroom 2400
For sale
$1,699,999
12426 91 AVENUE, surrey, British Columbia

12426 91 Avenue

Surrey, British Columbia

Welcome to this newly renovated home sittinng on a 7828 sq feet rectangular lot, 65.42 feet wide front that falls within the future provincial density plans for multi unit housing. This 5/6 bed and 4 full bath . 3 bedroom and 2 full bathrooms on the main living floor. Downstairs has very large functional 2 bedroom renovated suite and huge detached rec room with seprate electric breaker,heating and portable AC which is potental for another bachelor suite. Interlock paver driveway, double glazed windows, garage with doors on both sides so vehicles can through to the backyard for additional parking option given the back yard is paved, lots of parking available at back, quite and wide street, close to all level of schools, transportation, amenities. Wont last long (id:48205)

5 Bedroom 4 Bathroom 3036
For sale
$1,699,989
14927 KEW DRIVE, surrey, British Columbia

14927 Kew Drive

Surrey, British Columbia

Fully renovated beautiful home sitting on aprrox 8250 sq. ft. lot. This home come with 3 bed 2 bath with open concept kitchen for upstairs use and below has 2 mortgage helpers (2 bed and a bachelor suite). The home comes with lot of upgrades brand new floor, brand new paint, brand new LG stainless steel appliances, Brand new windows, Brand new hot water tank, new security camera's and so many more upgrades. Big windows for lots of natural light and huge drive way for ample of parking. Currently home is being used as an Air BNB and generating more than $6,000 monthly just from upstairs. Must see before it's gone. Call for more informations. (id:48205)

5 Bedroom 4 Bathroom 2100
For sale
$1,699,900
10931 161A STREET, surrey, British Columbia

10931 161a Street

Surrey, British Columbia

Perfect location in the centre of Fraser Heights! This stylish 4 bedroom home shows great and has been well looked after by the long time owner with loads of expensive updates. Extras include vaulted ceilings, 2 gas fireplaces, stainless Maytag appliances, updated paint inside and out, updated flooring and carpet, an updated roof, plus a new high efficiency furnace and on demand hot water. Walk to everything including shopping, restaurants, rec centre, transit as well as Erma Stephenson Elementary and Fraser Heights Secondary. Call your agent today to book a viewing. (id:48205)

4 Bedroom 3 Bathroom 2149
For sale
$1,699,900
13704 110A AVENUE, surrey, British Columbia

13704 110a Avenue

Surrey, British Columbia

Investor & Developer Alert, Potential land assembly, hold for future Multifamily Redevelopment,OCP Multifamily, low to Mid Rise up to 2.5 FAR, Next door 547 condominium are coming soon by Maskeen Group in booming Surrey Central location conveniently and strategically located with walking distance to SFU Surrey, City Hall, Surrey Central and Gateway skytrain stations, shopping, restaurants, schools & parks with easy access to King George Hwy, Highway 1, Highway 99. House in Great condition Both house and suite are rented to good tenants for $5300/M while waiting for the future Redevelopment. Great Opportunity. Call for more info... (id:48205)

5 Bedroom 2 Bathroom 1505
For sale
$1,699,900
13697 GROSVENOR ROAD, surrey, British Columbia

13697 Grosvenor Road

Surrey, British Columbia

Surrey central home in family oriented Bolivar Heights neighborhood. 7211 sqft lot. 6 bdrms 2 bath up ,living/dining rooms. Double crown moldings, LARGE COVERED DECKS. FULLY fenced yard with sidewalks. Stucco. easy access to NO.1 highway and Pattullo Bridge. Potential for future development. . OCP Zoning for Low Rise condo. (id:48205)

7 Bedroom 4 Bathroom 2638
For sale Open House
$1,699,000
16662 102 AVENUE, surrey, British Columbia

16662 102 Avenue

Surrey, British Columbia

Welcome to your dream home in Fraser Heights! This spacious 5 bed, 4 bath gem includes a legal suite, offering versatility and income potential. Situated on a generous 7100 SF lot with 3000 SF of living space, this home provides room to grow. Step inside to an open and inviting floor plan, with various upgrades over the years like air conditioning. Outside, enjoy beautifully manicured front and back yards, with a large deck for outdoor entertaining. Ample parking awaits you out front, plus a dedicated boat pad. For families, the proximity to Pacific Academy private school is a huge plus, and public schools like Bothwell and Ecole Fraser Heights are also close by. Don't miss out on this exceptional opportunity to live in one of Surrey's most sought-after neighborhoods. (id:48205)

5 Bedroom 4 Bathroom 3002
For sale Open House
$1,699,000
16107 108A AVENUE, surrey, British Columbia

16107 108a Avenue

Surrey, British Columbia

Best location in Fraser Heights in Cul-De-Sac. A vaulted ceiling entry makes quite the statement. Bright & spacious living areas with formal dining area ideal for entertaining. Open concept Kitchen & the large family room leads to a large outdoor deck and private yard with park view. Backing on to the park makes this an ideal location for families. A lot of renovations done throughout recently (new floorings, paintings, appliances, food fan, light fixtures, countertop, sinks and toilets and more). New roof done in 2013, Hot water tank replaced in 2014. Roughed-in EV charger for your electrical car. Close to shopping, transit, Erma Stephenson Elementary & Fraser Heights Secondary. Easy access to Highways. Perfect home for family. Open House: April 13&14 2-4pm. (id:48205)

4 Bedroom 3 Bathroom 2653
For sale
$1,699,000
12175 93A AVENUE, surrey, British Columbia

12175 93a Avenue

Surrey, British Columbia

Fantastic development property (Buyer to verify with City) on an over 9200 SF rectangular lot with 80ft frontage. OCP allows for multiple residential. Conveniently located near schools, transit and shopping. Great rental income (2br+3br) while you explore options to re-develop. (id:48205)

5 Bedroom 2 Bathroom 1600
For sale
$1,699,000
19433 70 AVENUE, surrey, British Columbia

19433 70 Avenue

Surrey, British Columbia

Custom built home with top quality craftsmanship and high end Kitchen Aid appliances. Top location in East Clayton right across Katzie Elementary. Contemporary design spread over 3 levels with a total of 5 Bedrooms and 4 Washrooms. Centrally Airconditioned with Central Vacuum and Radiant Heating. 2 Bedroom legal basement suite as a Mortgage helper. Rec Room in the Basement can be rented out as part of the Basement suite to form a 3 Bedroom suite. Spacious Rec room and a nice backyard for family entertainment. Detached double car garage with rear access. (id:48205)

5 Bedroom 4 Bathroom 2177
For sale
$1,699,000
10356 145A STREET, surrey, British Columbia

10356 145a Street

Surrey, British Columbia

Great investment opportunity w/ this fantastic 7 bed 3 bath Guildford home on a huge 8102 sqft. lot in a prime development location along the Guildford Town Centre 104 Ave. Plan. Current OCP designation is multiple residential up to 6 Storey condominiums w/ a 1.6 FAR. Contact city for more details. Live in or rent out (big rental income potential) & hold for future development. Main level features 3 beds w/ 1 bath, kitchen, dining, laundry & spacious living area. Newer finished basement offers 2 accomodations w/ 4 beds total & shared laundry. Tons of storage & covered parking out front for 4 vehicles w/ EV charger connection. Close to everything including transit, skytrain, Guildford mall, Superstore, Henlong market, T&T market, SFU, schools & parks. Quick highway access.Wont Last long. (id:48205)

7 Bedroom 3 Bathroom 2196
For sale
$1,697,000
13768 114A AVENUE, surrey, British Columbia

13768 114a Avenue

Surrey, British Columbia

This property is next to City Centre Plan as a result, this will attract a significant investment and soon in future it will form high residential, commercial, mixed use, and institutional development. Builders + Investers alert: Absolutely Fully Renovated, perfect to Live, Construct or put it on rental. Full panoramic mountain and Water views, 1/4 an ACRE with HUGE 85' X 132' manicured lot, USEABLE LAND in PRIME BOLIVAR HEIGHTS. Easy access all major routes, close to traditional school. All measurements are done by Real 360 Homes. Main Floor: 3 bedrooms with 2 washrooms along with large family room. Basement: 2 bedrooms with 1 washroom along with decent size Livingroom and kitchen in Basement. Quiet area. Easy access all major routes plus close to Gateway Sky Train. (id:48205)

5 Bedroom 3 Bathroom 2660
For sale Open House
$1,690,000
15319 111A AVENUE, surrey, British Columbia

15319 111a Avenue

Surrey, British Columbia

Located within the peaceful blocks of Fraser Heights, here's the perfect home for a big family raising their kids! This 2-story house comes with a closed, finished basement, offering an open-concept interior layout & a private backyard with a sizable concrete court for outdoor leisure. On the main level, you will find a living room, a dining room, a kitchen with quartz countertop/gas stove, an eating area with bay windows, and a spacious sunken family room with patio doors. The upstairs level includes a master bedroom plus 3 more bedrooms, while in the basement there are 2 additional bedrooms along with a 32' extended recreational area. The home is well maintained with a recently updated furnace and a new dishwasher. Call for more information! Open house April 13-14, Sunday 2-4p (id:48205)

6 Bedroom 4 Bathroom 3633
For sale
$1,689,000
15636 112 AVENUE, surrey, British Columbia

15636 112 Avenue

Surrey, British Columbia

Discover this custom built two-level Fraser Heights home, featuring three bedrooms with the option for a fourth and a well-designed floorplan. Hardwood floors lead through the main level to a generous living and dining area, a welcoming great room, and a modern kitchen with an eating nook. Two enclosed patios offer versatile living spaces, while the large, south-facing backyard ensures privacy and sunlight, equipped with raised garden beds for gardening enthusiasts. Located near essential amenities, this home combines convenience with comfort. Dogwood Elementary and École Fraser Heights Secondary Catchment. (id:48205)

3 Bedroom 3 Bathroom 2668
For sale Open House
$1,688,000
15332 95A AVENUE, surrey, British Columbia

15332 95a Avenue

Surrey, British Columbia

This home is sitting on a spacious 7173 sqft lot at private setting VERY QUIET. The most desirable location in Fleetwood walking distance to local super-save market and BERKSHIRE PARK and Secondary schools! Minutes to T&T market and Guildford Shopping Mall and easy access to HWY1. 3bedrooms on upper level, on the lower level it has spacious ensuite bedroom and den (can be 2nd bedroom) with separate entrance. Enjoy entertaining in south facing oversized sundeck and spacious private back yard that your kids & pets will love. This is a must see! OpenHouse May 4th & 5th 2-4pm. (id:48205)

5 Bedroom 4 Bathroom 1813
For sale
$1,675,000
19170 73 AVENUE, surrey, British Columbia

19170 73 Avenue

Surrey, British Columbia

Welcome to Clayton Heights. Beautifully updated for a modern elegant feel this home features 6 bedrooms and 5 bathroom and 3 parking. Steps away from the new community Salmon Berry Park , new elementary schools ,and high schools, public transportation, and parking. This houses main living area features new blinds, flooring, lighting, carpet, and a fresh coat of paint. This home features a Whirlpool and LG appliance package as well as quartz counter tops, and BONUS the AC is included! The basement has its own private access making it ideal for tenants. The lane-way home is a HUGE bonus and is a rare find which includes its own private parking pad, this is the IDEAL mortgage helper! DO NOT MISS this opportunity. Please contact me for a private viewing! (id:48205)

6 Bedroom 5 Bathroom 3082
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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