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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 Vine Street Residences, from $1,275,000Change
Your numbers
$
sq ft
%
%
yrs
$/mo
$/mo
CASH YOU NEED TO CLOSE
$321,750
Deposits plus everything due on completion day
Monthly carry
$6,002
Deposits
$191,250
Tax relief saves you $22,500
Cash to close
Deposits paid during construction15% across construction$191,250
Balance of down payment$63,750
GST at 5%$63,750
First time buyer GST rebate100% under $1M, phased out to $1.5M-$22,500
Property transfer tax$23,500
Legal and closing$2,000
Total cash required$321,750
Every month
Mortgage payment4.29% over 25 years$5,527
Strata fee$330
Property tax$145
Monthly cost$6,002
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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