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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
$200,580
Deposits plus everything due on completion day
Monthly carry
$4,779
Deposits
$148,935
Tax relief saves you $67,503
Cash to close
Deposits paid during construction15% across construction$148,935
Balance of down payment$49,645
GST at 5%$49,645
First time buyer GST rebate100% under $1M, phased out to $1.5M-$49,645
Property transfer tax$17,858
Newly built home exemptionFull relief to $1.1M, any buyer, principal residence-$17,858
Legal and closing$2,000
Total cash required$200,580
Every month
Mortgage payment4.29% over 25 years$4,304
Strata fee$330
Property tax$145
Monthly cost$4,779
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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