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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 York Residences - Building C, from $270,264Change
Your numbers
$
sq ft
%
%
yrs
$/mo
$/mo
CASH YOU NEED TO CLOSE
$56,053
Deposits plus everything due on completion day
Monthly carry
$1,647
Deposits
$13,513
Tax relief saves you $16,918
Cash to close
Deposits paid during construction5% across construction$13,513
Balance of down payment$40,540
GST at 5%$13,513
First time buyer GST rebate100% under $1M, phased out to $1.5M-$13,513
Property transfer tax$3,405
Newly built home exemptionFull relief to $1.1M, any buyer, principal residence-$3,405
Legal and closing$2,000
Total cash required$56,053
Every month
Mortgage payment4.29% over 25 years$1,172
Strata fee$330
Property tax$145
Monthly cost$1,647
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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