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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.
Based on 1515 Rupert, from $1,139,900Change
Your numbers
$
sq ft
%
%
yrs
$/mo
$/mo
CASH YOU NEED TO CLOSE
$267,562
Deposits plus everything due on completion day
Monthly carry
$5,416
Deposits
$170,985
Tax relief saves you $40,211
Cash to close
Deposits paid during construction15% across construction$170,985
Balance of down payment$56,995
GST at 5%$56,995
First time buyer GST rebate100% under $1M, phased out to $1.5M-$36,010
Property transfer tax$20,798
Newly built home exemptionFull relief to $1.1M, any buyer, principal residence-$4,201
Legal and closing$2,000
Total cash required$267,562
Every month
Mortgage payment4.29% over 25 years$4,941
Strata fee$330
Property tax$145
Monthly cost$5,416
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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