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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 Savoy at Queen Elizabeth Park, from $1,499,800Change
Your numbers
$
sq ft
%
%
yrs
$/mo
$/mo
CASH YOU NEED TO CLOSE
$404,926
Deposits plus everything due on completion day
Monthly carry
$6,976
Deposits
$224,970
Tax relief saves you $20
Cash to close
Deposits paid during construction15% across construction$224,970
Balance of down payment$74,990
GST at 5%$74,990
First time buyer GST rebate100% under $1M, phased out to $1.5M-$20
Property transfer tax$27,996
Legal and closing$2,000
Total cash required$404,926
Every month
Mortgage payment4.29% over 25 years$6,501
Strata fee$330
Property tax$145
Monthly cost$6,976
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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