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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 Willow Walk, from $1,300,000Change
Your numbers
$
sq ft
%
%
yrs
$/mo
$/mo
CASH YOU NEED TO CLOSE
$331,000
Deposits plus everything due on completion day
Monthly carry
$6,110
Deposits
$195,000
Tax relief saves you $20,000
Cash to close
Deposits paid during construction15% across construction$195,000
Balance of down payment$65,000
GST at 5%$65,000
First time buyer GST rebate100% under $1M, phased out to $1.5M-$20,000
Property transfer tax$24,000
Legal and closing$2,000
Total cash required$331,000
Every month
Mortgage payment4.29% over 25 years$5,635
Strata fee$330
Property tax$145
Monthly cost$6,110
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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