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What a BC presale actually costs you
Deposits, GST, property transfer tax and the monthly carry, using the current BC and federal rules, including the first-time-buyer GST rebate.
Your numbers
$
sq ft
%
%
yrs
$/mo
$/mo
CASH YOU NEED TO CLOSE
$453,573
Deposits plus everything due on completion day
Monthly carry
$7,757
Deposits
$83,995
Cash to close
Deposits paid during construction5% across construction$83,995
Balance of down payment$251,985
GST at 5%$83,995
Property transfer tax$31,598
Legal and closing$2,000
Total cash required$453,573
Every month
Mortgage payment4.29% over 25 years$7,282
Strata fee$330
Property tax$145
Monthly cost$7,757
Estimates only. Rates, fees and taxes change, and eligibility depends on your situation. This is not financial or tax advice. Confirm with your mortgage broker, lawyer and accountant before committing.
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