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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 Creekside Terrace, from $728,880Change
Your numbers
$
sq ft
%
%
yrs
$/mo
$/mo
CASH YOU NEED TO CLOSE
$147,776
Deposits plus everything due on completion day
Monthly carry
$3,635
Deposits
$109,332
Tax relief saves you $49,022
Cash to close
Deposits paid during construction15% across construction$109,332
Balance of down payment$36,444
GST at 5%$36,444
First time buyer GST rebate100% under $1M, phased out to $1.5M-$36,444
Property transfer tax$12,578
Newly built home exemptionFull relief to $1.1M, any buyer, principal residence-$12,578
Legal and closing$2,000
Total cash required$147,776
Every month
Mortgage payment4.29% over 25 years$3,160
Strata fee$330
Property tax$145
Monthly cost$3,635
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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