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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 Manhattan, from $330,900Change
Your numbers
$
sq ft
%
%
yrs
$/mo
$/mo
CASH YOU NEED TO CLOSE
$68,180
Deposits plus everything due on completion day
Monthly carry
$1,909
Deposits
$33,090
Tax relief saves you $21,163
Cash to close
Deposits paid during construction10% across construction$33,090
Balance of down payment$33,090
GST at 5%$16,545
First time buyer GST rebate100% under $1M, phased out to $1.5M-$16,545
Property transfer tax$4,618
Newly built home exemptionFull relief to $1.1M, any buyer, principal residence-$4,618
Legal and closing$2,000
Total cash required$68,180
Every month
Mortgage payment4.29% over 25 years$1,434
Strata fee$330
Property tax$145
Monthly cost$1,909
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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