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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 Wordsworth, from $858,800Change
Your numbers
$
sq ft
%
%
yrs
$/mo
$/mo
CASH YOU NEED TO CLOSE
$216,700
Deposits plus everything due on completion day
Monthly carry
$4,198
Deposits
$214,700
Tax relief saves you $58,116
Cash to close
Deposits paid during construction25% across construction$214,700
Balance of down payment$0
GST at 5%$42,940
First time buyer GST rebate100% under $1M, phased out to $1.5M-$42,940
Property transfer tax$15,176
Newly built home exemptionFull relief to $1.1M, any buyer, principal residence-$15,176
Legal and closing$2,000
Total cash required$216,700
Every month
Mortgage payment4.29% over 25 years$3,723
Strata fee$330
Property tax$145
Monthly cost$4,198
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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