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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 TERZA on 3rd, from $1,149,000Change
Your numbers
$
sq ft
%
%
yrs
$/mo
$/mo
CASH YOU NEED TO CLOSE
$274,710
Deposits plus everything due on completion day
Monthly carry
$5,456
Deposits
$57,450
Tax relief saves you $35,520
Cash to close
Deposits paid during construction5% across construction$57,450
Balance of down payment$172,350
GST at 5%$57,450
First time buyer GST rebate100% under $1M, phased out to $1.5M-$35,100
Property transfer tax$20,980
Newly built home exemptionFull relief to $1.1M, any buyer, principal residence-$420
Legal and closing$2,000
Total cash required$274,710
Every month
Mortgage payment4.29% over 25 years$4,981
Strata fee$330
Property tax$145
Monthly cost$5,456
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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