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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 Park and Maven (Townhomes), from $786,900Change
Your numbers
$
sq ft
%
%
yrs
$/mo
$/mo
CASH YOU NEED TO CLOSE
$159,380
Deposits plus everything due on completion day
Monthly carry
$3,886
Deposits
$78,690
Tax relief saves you $53,083
Cash to close
Deposits paid during construction10% across construction$78,690
Balance of down payment$78,690
GST at 5%$39,345
First time buyer GST rebate100% under $1M, phased out to $1.5M-$39,345
Property transfer tax$13,738
Newly built home exemptionFull relief to $1.1M, any buyer, principal residence-$13,738
Legal and closing$2,000
Total cash required$159,380
Every month
Mortgage payment4.29% over 25 years$3,411
Strata fee$330
Property tax$145
Monthly cost$3,886
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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