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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
$348,760
Deposits plus everything due on completion day
Monthly carry
$6,318
Deposits
$67,400
Tax relief saves you $15,200
Cash to close
Deposits paid during construction5% across construction$67,400
Balance of down payment$202,200
GST at 5%$67,400
First time buyer GST rebate100% under $1M, phased out to $1.5M-$15,200
Property transfer tax$24,960
Legal and closing$2,000
Total cash required$348,760
Every month
Mortgage payment4.29% over 25 years$5,843
Strata fee$330
Property tax$145
Monthly cost$6,318
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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