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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 Fifteen Fifteen, from $1,279,800Change
Your numbers
$
sq ft
%
%
yrs
$/mo
$/mo
CASH YOU NEED TO CLOSE
$323,526
Deposits plus everything due on completion day
Monthly carry
$6,023
Deposits
$255,960
Tax relief saves you $22,020
Cash to close
Deposits paid during construction20% across construction$255,960
Balance of down payment$0
GST at 5%$63,990
First time buyer GST rebate100% under $1M, phased out to $1.5M-$22,020
Property transfer tax$23,596
Legal and closing$2,000
Total cash required$323,526
Every month
Mortgage payment4.29% over 25 years$5,548
Strata fee$330
Property tax$145
Monthly cost$6,023
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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