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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 Exeter Hall, from $668,800Change
Your numbers
$
sq ft
%
%
yrs
$/mo
$/mo
CASH YOU NEED TO CLOSE
$135,760
Deposits plus everything due on completion day
Monthly carry
$3,374
Deposits
$100,320
Tax relief saves you $44,816
Cash to close
Deposits paid during construction15% across construction$100,320
Balance of down payment$33,440
GST at 5%$33,440
First time buyer GST rebate100% under $1M, phased out to $1.5M-$33,440
Property transfer tax$11,376
Newly built home exemptionFull relief to $1.1M, any buyer, principal residence-$11,376
Legal and closing$2,000
Total cash required$135,760
Every month
Mortgage payment4.29% over 25 years$2,899
Strata fee$330
Property tax$145
Monthly cost$3,374
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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