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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 Montgomery, from $1,189,900Change
Your numbers
$
sq ft
%
%
yrs
$/mo
$/mo
CASH YOU NEED TO CLOSE
$290,263
Deposits plus everything due on completion day
Monthly carry
$5,633
Deposits
$59,495
Tax relief saves you $31,010
Cash to close
Deposits paid during construction5% across construction$59,495
Balance of down payment$178,485
GST at 5%$59,495
First time buyer GST rebate100% under $1M, phased out to $1.5M-$31,010
Property transfer tax$21,798
Legal and closing$2,000
Total cash required$290,263
Every month
Mortgage payment4.29% over 25 years$5,158
Strata fee$330
Property tax$145
Monthly cost$5,633
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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