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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.
Your numbers
$
sq ft
%
%
yrs
$/mo
$/mo
CASH YOU NEED TO CLOSE
$349,500
Deposits plus everything due on completion day
Monthly carry
$6,327
Deposits
$135,000
Tax relief saves you $15,000
Cash to close
Deposits paid during construction10% across construction$135,000
Balance of down payment$135,000
GST at 5%$67,500
First time buyer GST rebate100% under $1M, phased out to $1.5M-$15,000
Property transfer tax$25,000
Legal and closing$2,000
Total cash required$349,500
Every month
Mortgage payment4.29% over 25 years$5,852
Strata fee$330
Property tax$145
Monthly cost$6,327
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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