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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 Lina at QE Park, from $609,000Change
Your numbers
$
sq ft
%
%
yrs
$/mo
$/mo
CASH YOU NEED TO CLOSE
$123,800
Deposits plus everything due on completion day
Monthly carry
$3,115
Deposits
$30,450
Tax relief saves you $40,630
Cash to close
Deposits paid during construction5% across construction$30,450
Balance of down payment$91,350
GST at 5%$30,450
First time buyer GST rebate100% under $1M, phased out to $1.5M-$30,450
Property transfer tax$10,180
Newly built home exemptionFull relief to $1.1M, any buyer, principal residence-$10,180
Legal and closing$2,000
Total cash required$123,800
Every month
Mortgage payment4.29% over 25 years$2,640
Strata fee$330
Property tax$145
Monthly cost$3,115
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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