Avril Lavigne Shows Off 14-Carat Engagement Ring
08/22/2012 AT 12:45 PM EDT
"They have the same values and really understand each other," a family source tells PEOPLE. "They complement each other and are so happy."
Kroeger, 37, who first fell for Lavigne, 27, while working on her fifth studio album, proposed with a stunning 14-carat diamond ring on Aug. 8, but according to a source close to Lavigne, the couple isn't rushing to the altar.
"They haven't set a date. They're really enjoying this moment," a Lavigne pal says.
In an interview with HELLO! Canada, the Nickelback frontman and "Complicated" singer spoke out about their romance.
"I knew I was falling for her," Kroeger said of working with Lavigne. "It was incredibly powerful and something I'll never forget."
Lavigne, who split from Sum 41 frontman, Deryck Whibley, in 2009, admits her new fiancé's sense of humor was part of the attraction.
"He makes me laugh every day," said Lavigne. "He takes care of me in every way and is extremely attentive."