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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 Guildford the Greatest 2, from $479,900Change
Your numbers
$
sq ft
%
%
yrs
$/mo
$/mo
CASH YOU NEED TO CLOSE
$97,980
Deposits plus everything due on completion day
Monthly carry
$2,555
Deposits
$9,598
Tax relief saves you $31,593
Cash to close
Deposits paid during construction2% across construction$9,598
Balance of down payment$86,382
GST at 5%$23,995
First time buyer GST rebate100% under $1M, phased out to $1.5M-$23,995
Property transfer tax$7,598
Newly built home exemptionFull relief to $1.1M, any buyer, principal residence-$7,598
Legal and closing$2,000
Total cash required$97,980
Every month
Mortgage payment4.29% over 25 years$2,080
Strata fee$330
Property tax$145
Monthly cost$2,555
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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