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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 Trails, from $1,388,000Change
Your numbers
$
sq ft
%
%
yrs
$/mo
$/mo
CASH YOU NEED TO CLOSE
$363,560
Deposits plus everything due on completion day
Monthly carry
$6,492
Deposits
$208,200
Tax relief saves you $11,200
Cash to close
Deposits paid during construction15% across construction$208,200
Balance of down payment$69,400
GST at 5%$69,400
First time buyer GST rebate100% under $1M, phased out to $1.5M-$11,200
Property transfer tax$25,760
Legal and closing$2,000
Total cash required$363,560
Every month
Mortgage payment4.29% over 25 years$6,017
Strata fee$330
Property tax$145
Monthly cost$6,492
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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