Presale Completion Costs in Metro Vancouver: GST, Rebate, and the Cash You Actually Need (2026)

Buying a presale condo in Metro Vancouver feels great — until completion day approaches and you realize you are not sure what the final bill actually is. New homes carry 5% GST that resale homes do not. A standard rebate may reduce GST on lower-priced homes, and an expanded federal rebate may help eligible first-time buyers. Property transfer tax and legal costs come on top. This guide, and the calculator below, help you estimate what to budget.

Estimate your cash-to-close in 30 seconds

Enter the price, occupancy, down payment, and deposit you already paid. If you may qualify for the federal first-time buyer GST/HST rebate, also enter the builder agreement, construction-start, substantial-completion, and ownership-transfer dates. The calculator shows a potential rebate; GST is reduced at closing only when you confirm the builder will credit it on the closing statement. Nothing is saved.

Why new homes cost more than resale (the GST)

A resale home generally has no GST. A brand-new or presale home does — 5% of the purchase price. On an $800,000 condo that is $40,000 before any eligible rebate. Whether you can recover some or all of it depends on the home and your circumstances.

The standard GST New Housing Rebate

For a qualifying new home that you will use as your primary residence and occupy first, the standard federal rebate returns 36% of GST, up to $6,300. It is available in full on homes priced up to $350,000, phases out between $350,000 and $450,000, and is zero at $450,000 or more. This standard rebate is generally not available for a rental or investment home.

The first-time home buyer GST/HST rebate

The federal first-time home buyer rebate can cover the GST on a qualifying new home priced up to $1 million (up to $50,000), then phases out to zero at $1.5 million. It supplements the standard new-housing rebate. For a builder purchase, the agreement must be dated from March 20, 2025 through December 31, 2030, construction must begin before 2031, and the home must be substantially complete and ownership transferred before 2036.

Other CRA conditions apply. Generally, the buyer must be at least 18 and a Canadian citizen or permanent resident; neither the buyer nor their spouse can have lived in a home either owned as a principal residence during the current year or previous four calendar years. The buyer must be the first occupant, the home must be their primary residence, and the rebate must not have been claimed before. The calculator asks you to self-confirm the non-date conditions; it cannot decide eligibility. Check the CRA eligibility and application rules.

If the builder does not credit the rebate on the closing statement, you may need to pay the GST at closing and apply to CRA separately. Confirm the agreement, credit, application deadline, and required documents with your conveyancer and CRA before relying on the rebate for cash-to-close.

Property transfer tax and legal costs

On top of GST you may pay BC property transfer tax — 1% on the first $200,000, 2% up to $2 million, and 3% above that. Eligible buyers may qualify for the first-time buyer or newly built home exemption, but the two programs cannot be combined on one transfer. The calculator selects the larger modeled exemption and assumes the transfer qualifies; your conveyancer must check price, occupancy, property, and ownership conditions. Budget for legal costs too, and confirm your quote with the lawyer or notary.

The 2026 exemptions that can change everything

BC's first-time buyer and newly built home PTT exemptions have different price and eligibility conditions. The calculator applies simplified thresholds, and it cannot verify your residency, prior ownership, title share, property size, or other legal conditions. Ask your conveyancer to determine whether one program applies to your purchase.

Frequently asked questions

Can I get GST back on a new home in BC? Possibly. The standard new-housing rebate is up to $6,300 and phases out by $450,000. Eligible first-time buyers may qualify for a larger rebate on a qualifying builder purchase up to $1.5 million, subject to CRA buyer, occupancy, agreement-date, construction, and completion rules.

What if the builder does not credit the rebate at closing? The calculator keeps the full GST in the closing estimate unless you confirm a builder credit. If eligible, you may apply to CRA separately; confirm timing and requirements before budgeting around a later payment.

Can first-time buyer and new-home PTT exemptions be combined? No. BC's two programs cannot both be claimed on one transfer. The larger modeled exemption is shown, but a conveyancer should confirm which one, if any, applies.

How much cash do I need on completion day? Beyond your down payment, budget for net GST, property transfer tax, and legal costs — often tens of thousands on a Metro Vancouver home. Use the calculator above for your estimate, then confirm with your lawyer and Phan.

Get your exact completion numbers from Phan.

The calculator is a planning estimate. Your actual cash-to-close depends on your contract, deposit, builder credit, and confirmed tax eligibility. Phan speaks Vietnamese and English and can help you prepare questions for your conveyancer before completion. Call or message Phan.