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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 INNOVA NORTH, from $856,800Change
Your numbers
$
sq ft
%
%
yrs
$/mo
$/mo
CASH YOU NEED TO CLOSE
$173,360
Deposits plus everything due on completion day
Monthly carry
$4,189
Deposits
$21,420
Tax relief saves you $57,976
Cash to close
Deposits paid during construction3% across construction$21,420
Balance of down payment$149,940
GST at 5%$42,840
First time buyer GST rebate100% under $1M, phased out to $1.5M-$42,840
Property transfer tax$15,136
Newly built home exemptionFull relief to $1.1M, any buyer, principal residence-$15,136
Legal and closing$2,000
Total cash required$173,360
Every month
Mortgage payment4.29% over 25 years$3,714
Strata fee$330
Property tax$145
Monthly cost$4,189
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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