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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 The Landmark at Foster Martin, from $910,800Change
Your numbers
$
sq ft
%
%
yrs
$/mo
$/mo
CASH YOU NEED TO CLOSE
$184,160
Deposits plus everything due on completion day
Monthly carry
$4,423
Deposits
$136,620
Tax relief saves you $61,756
Cash to close
Deposits paid during construction15% across construction$136,620
Balance of down payment$45,540
GST at 5%$45,540
First time buyer GST rebate100% under $1M, phased out to $1.5M-$45,540
Property transfer tax$16,216
Newly built home exemptionFull relief to $1.1M, any buyer, principal residence-$16,216
Legal and closing$2,000
Total cash required$184,160
Every month
Mortgage payment4.29% over 25 years$3,948
Strata fee$330
Property tax$145
Monthly cost$4,423
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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