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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
$149,760
Deposits plus everything due on completion day
Monthly carry
$3,678
Deposits
$110,820
Tax relief saves you $49,716
Cash to close
Deposits paid during construction15% across construction$110,820
Balance of down payment$36,940
GST at 5%$36,940
First time buyer GST rebate100% under $1M, phased out to $1.5M-$36,940
Property transfer tax$12,776
Newly built home exemptionFull relief to $1.1M, any buyer, principal residence-$12,776
Legal and closing$2,000
Total cash required$149,760
Every month
Mortgage payment4.29% over 25 years$3,203
Strata fee$330
Property tax$145
Monthly cost$3,678
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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