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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
$1,180,000
Deposits plus everything due on completion day
Monthly carry
$18,681
Deposits
$210,000
Cash to close
Deposits paid during construction5% across construction$210,000
Balance of down payment$630,000
GST at 5%$210,000
Property transfer tax$128,000
Legal and closing$2,000
Total cash required$1,180,000
Every month
Mortgage payment4.29% over 25 years$18,206
Strata fee$330
Property tax$145
Monthly cost$18,681
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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