A new-build cash plan must reconcile the contract deposit schedule, GST treatment, property-transfer-tax calculation and possible relief, adjustments, upgrades, interim or occupancy obligations, professional costs, and the final mortgage advance.
Decision points
- 01
Read the contract and disclosure statement before modelling incentives.
- 02
Do not net a rebate against cash required unless the transaction documents support it.
- 03
Reconcile every deposit and upgrade payment on the completion statement.
Build a new-home cash timeline
Record each deposit date, assignment or amendment amount, upgrade payment, GST treatment, possible rebates, transfer tax, legal work, lender costs, adjustments, warranty steps, interim occupancy if applicable, and completion funds. Timing can matter as much as the total.
Keep the tax programs separate
The BC newly built home property-transfer-tax exemption and federal GST/HST new-housing or first-time-buyer rebates have different definitions, thresholds, dates, occupancy rules, application methods, and evidence. Eligibility for one does not establish the others.
Reconcile the completion statement
Compare the developer statement, deposit credits, GST line, adjustments, upgrade agreements, mortgage advance, conveyancing statement, and required trust funds. Escalate assignment, rental, corporate, trust, non-resident, mixed-use, or unusual occupancy facts.
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