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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 Rose Garden, from $1,299,000Change
Your numbers
$
sq ft
%
%
yrs
$/mo
$/mo
CASH YOU NEED TO CLOSE
$330,630
Deposits plus everything due on completion day
Monthly carry
$6,106
Deposits
$259,800
Tax relief saves you $20,100
Cash to close
Deposits paid during construction20% across construction$259,800
Balance of down payment$0
GST at 5%$64,950
First time buyer GST rebate100% under $1M, phased out to $1.5M-$20,100
Property transfer tax$23,980
Legal and closing$2,000
Total cash required$330,630
Every month
Mortgage payment4.29% over 25 years$5,631
Strata fee$330
Property tax$145
Monthly cost$6,106
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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