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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 Gryphon Nova, from $876,604Change
Your numbers
$
sq ft
%
%
yrs
$/mo
$/mo
CASH YOU NEED TO CLOSE
$221,151
Deposits plus everything due on completion day
Monthly carry
$4,275
Deposits
$219,151
Tax relief saves you $59,362
Cash to close
Deposits paid during construction25% across construction$219,151
Balance of down payment$0
GST at 5%$43,830
First time buyer GST rebate100% under $1M, phased out to $1.5M-$43,830
Property transfer tax$15,532
Newly built home exemptionFull relief to $1.1M, any buyer, principal residence-$15,532
Legal and closing$2,000
Total cash required$221,151
Every month
Mortgage payment4.29% over 25 years$3,800
Strata fee$330
Property tax$145
Monthly cost$4,275
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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