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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 Clayton Crest - Bute (Building 2), from $369,990Change
Your numbers
$
sq ft
%
%
yrs
$/mo
$/mo
CASH YOU NEED TO CLOSE
$75,998
Deposits plus everything due on completion day
Monthly carry
$2,079
Deposits
$36,999
Tax relief saves you $23,899
Cash to close
Deposits paid during construction10% across construction$36,999
Balance of down payment$36,999
GST at 5%$18,500
First time buyer GST rebate100% under $1M, phased out to $1.5M-$18,500
Property transfer tax$5,400
Newly built home exemptionFull relief to $1.1M, any buyer, principal residence-$5,400
Legal and closing$2,000
Total cash required$75,998
Every month
Mortgage payment4.29% over 25 years$1,604
Strata fee$330
Property tax$145
Monthly cost$2,079
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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