New Brunswick has a straightforward real property transfer tax at a flat 1% rate. There are no graduated brackets and no first-time buyer exemptions, making it one of the simpler provinces to calculate closing costs.
New Brunswick real property transfer tax
| Rate | Basis |
|---|---|
| 1% | Greater of purchase price or assessed value |
Transfer tax examples
| Purchase Price | Transfer Tax |
|---|---|
| $250,000 | $2,500 |
| $300,000 | $3,000 |
| $400,000 | $4,000 |
| $500,000 | $5,000 |
| $600,000 | $6,000 |
Complete New Brunswick closing cost estimate
Scenario 1: $350,000 home in Moncton (first-time buyer, 5% down)
| Cost | Amount |
|---|---|
| Real property transfer tax (1%) | $3,500 |
| Legal fees | $1,700 |
| Title insurance | $350 |
| Home inspection | $450 |
| Property tax adjustment | $1,100 |
| PST on CMHC | $0 (no PST on insurance in NB) |
| Home insurance | $1,400 |
| Moving costs | $1,500 |
| Total closing costs | $10,000 |
Scenario 2: $300,000 home in Saint John (repeat buyer, 20% down)
| Cost | Amount |
|---|---|
| Real property transfer tax (1%) | $3,000 |
| Legal fees | $1,600 |
| Title insurance | $300 |
| Home inspection | $450 |
| Property tax adjustment | $900 |
| Home insurance | $1,200 |
| Moving costs | $1,500 |
| Total closing costs | $8,950 |
New Brunswick-specific considerations
Assessed value vs purchase price
The transfer tax is charged on the greater of the purchase price or the provincial assessed value. In most cases, the purchase price is higher, so this is what you pay tax on.
Bilingual services
New Brunswick is Canada’s only officially bilingual province. Legal services are available in both English and French throughout the province.
Rural properties
Many New Brunswick properties outside urban centres use well water and septic. Budget for additional inspections ($400–$700 combined).
Related pages
- Closing Cost Calculator — All Provinces
- What Are Closing Costs in Canada?
- CMHC Insurance Calculator
- How Much Do I Need for a Down Payment?
New Brunswick closing costs vs other Atlantic provinces
| Province | Closing costs on $350K home | Transfer tax / fee |
|---|---|---|
| Newfoundland | $6,500–$8,500 | ~$2,716 (registration fees) |
| New Brunswick | $8,500–$11,000 | $3,500 (1% LTT) |
| PEI | $9,000–$12,000 | $3,500 (1% LTT) |
| Nova Scotia (Halifax) | $11,000–$14,500 | $5,250 (1.5% DTT) |
First-time buyer programs in New Brunswick
New Brunswick has no provincial LTT exemption, but federal programs are available:
| Program | Benefit |
|---|---|
| Federal First-Time Home Buyers Tax Credit | Up to $1,500 federal tax refund |
| FHSA (First Home Savings Account) | Up to $40,000 tax-free savings for first home |
| Home Buyers’ Plan (HBP) | Withdraw up to $60,000 from RRSP tax-free |
| CMHC mortgage insurance | Required with under 20% down; enables 5% down purchases |
Key timing considerations in New Brunswick
| Stage | What Happens |
|---|---|
| Accepted offer | 5–10 days: arrange home inspection |
| 2–3 weeks before closing | Confirm mortgage approval; notify lawyer |
| 1 week before closing | Lawyer receives Statement of Adjustments; review all costs |
| Closing day | Transfer tax, title fees, and legal fees paid; keys received |
| 2–3 months post-closing | Property tax bill adjusted on annual cycle |
Budgeting rule of thumb for New Brunswick
| Purchase Price | Estimated Total Closing Costs | % of Purchase Price |
|---|---|---|
| $250,000 | $7,000–$9,000 | 2.8%–3.6% |
| $300,000 | $8,000–$10,500 | 2.7%–3.5% |
| $400,000 | $9,500–$12,500 | 2.4%–3.1% |
| $500,000 | $11,500–$15,000 | 2.3%–3.0% |
Budget 2.5%–3.5% of the purchase price for closing costs in New Brunswick. The 1% transfer tax is the single largest cost for most buyers.
Unique features of the NB real estate market
New Brunswick offers some of the most affordable housing in Canada. In cities like Moncton and Fredericton, detached homes are available in the $250,000–$450,000 range. The province has seen population growth through the Atlantic Canada immigration programs, which has pushed prices up from historic lows but kept them well below national averages.