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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 Lotus - The Botanical Collection, from $1,379,900Change
Your numbers
$
sq ft
%
%
yrs
$/mo
$/mo
CASH YOU NEED TO CLOSE
$360,563
Deposits plus everything due on completion day
Monthly carry
$6,457
Deposits
$206,985
Tax relief saves you $12,010
Cash to close
Deposits paid during construction15% across construction$206,985
Balance of down payment$68,995
GST at 5%$68,995
First time buyer GST rebate100% under $1M, phased out to $1.5M-$12,010
Property transfer tax$25,598
Legal and closing$2,000
Total cash required$360,563
Every month
Mortgage payment4.29% over 25 years$5,982
Strata fee$330
Property tax$145
Monthly cost$6,457
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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