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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 Block Residences, from $1,466,900Change
Your numbers
$
sq ft
%
%
yrs
$/mo
$/mo
CASH YOU NEED TO CLOSE
$392,753
Deposits plus everything due on completion day
Monthly carry
$6,834
Deposits
$293,380
Tax relief saves you $3,310
Cash to close
Deposits paid during construction20% across construction$293,380
Balance of down payment$0
GST at 5%$73,345
First time buyer GST rebate100% under $1M, phased out to $1.5M-$3,310
Property transfer tax$27,338
Legal and closing$2,000
Total cash required$392,753
Every month
Mortgage payment4.29% over 25 years$6,359
Strata fee$330
Property tax$145
Monthly cost$6,834
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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