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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 West Field at Cooper Meadows, from $1,224,900Change
Your numbers
$
sq ft
%
%
yrs
$/mo
$/mo
CASH YOU NEED TO CLOSE
$303,213
Deposits plus everything due on completion day
Monthly carry
$5,785
Deposits
$183,735
Tax relief saves you $27,510
Cash to close
Deposits paid during construction15% across construction$183,735
Balance of down payment$61,245
GST at 5%$61,245
First time buyer GST rebate100% under $1M, phased out to $1.5M-$27,510
Property transfer tax$22,498
Legal and closing$2,000
Total cash required$303,213
Every month
Mortgage payment4.29% over 25 years$5,310
Strata fee$330
Property tax$145
Monthly cost$5,785
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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