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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 8899 Spires, from $998,880Change
Your numbers
$
sq ft
%
%
yrs
$/mo
$/mo
CASH YOU NEED TO CLOSE
$201,776
Deposits plus everything due on completion day
Monthly carry
$4,805
Deposits
$49,944
Tax relief saves you $67,922
Cash to close
Deposits paid during construction5% across construction$49,944
Balance of down payment$149,832
GST at 5%$49,944
First time buyer GST rebate100% under $1M, phased out to $1.5M-$49,944
Property transfer tax$17,978
Newly built home exemptionFull relief to $1.1M, any buyer, principal residence-$17,978
Legal and closing$2,000
Total cash required$201,776
Every month
Mortgage payment4.29% over 25 years$4,330
Strata fee$330
Property tax$145
Monthly cost$4,805
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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