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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
$289,856
Deposits plus everything due on completion day
Monthly carry
$5,628
Deposits
$11,888
Tax relief saves you $31,120
Cash to close
Deposits paid during construction1% across construction$11,888
Balance of down payment$225,872
GST at 5%$59,440
First time buyer GST rebate100% under $1M, phased out to $1.5M-$31,120
Property transfer tax$21,776
Legal and closing$2,000
Total cash required$289,856
Every month
Mortgage payment4.29% over 25 years$5,153
Strata fee$330
Property tax$145
Monthly cost$5,628
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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