Does New Brunswick have a land transfer tax?

Yes. New Brunswick charges a real property transfer tax of 1% of the purchase price (or assessed value, whichever is greater). There is no first-time buyer exemption or rebate. On a $350,000 home, the transfer tax is $3,500.

What programs are available for first-time home buyers in New Brunswick?

New Brunswick does not have a provincial first-time buyer program. Buyers can access federal programs: the First-Time Home Buyers'' Tax Credit ($1,500), FHSA ($40,000 tax-deductible savings), Home Buyers'' Plan ($60,000 RRSP withdrawal per person), and the HST New Housing Rebate on new construction.

How affordable is New Brunswick for first-time buyers?

New Brunswick has some of the most affordable housing in Canada. Average home prices in cities like Moncton, Saint John, and Fredericton are significantly below the national average. Combined with no PST on CMHC insurance and a 1% transfer tax rate, total buying costs are among the lowest in the country.

First-Time Home Buyer Guide New Brunswick: Programs, Rebates, and Tips (2026)

New Brunswick offers some of the most affordable housing in Canada. While the province does not have a specific first-time home buyer program or land transfer tax rebate, the combination of a low 1% real property transfer tax, affordable home prices, and no PST on CMHC insurance makes it one of the easiest provinces to enter the housing market. First-time buyers rely heavily on federal programs like the FHSA and Home Buyers’ Plan for down payment savings.

First-Time Home Buyer Benefits in New Brunswick

Benefit	Maximum Value	Who Provides It
Provincial first-time buyer rebate	None	N/A
Federal First-Time Home Buyers’ Tax Credit	$1,500	Federal
FHSA	$40,000 tax-deductible savings	Federal
Home Buyers’ Plan (HBP)	$60,000/person RRSP withdrawal	Federal
HST New Housing Rebate	Up to $6,300 (federal) + NB portion	Federal + Provincial

New Brunswick Real Property Transfer Tax

Detail	Rate
Tax rate	1% of purchase price or assessed value (whichever is greater)
First-time buyer rebate	None
Paid by	Buyer
When paid	At closing (through lawyer)

Transfer Tax Examples

Purchase Price	NB Transfer Tax (1%)
$200,000	$2,000
$300,000	$3,000
$350,000	$3,500
$400,000	$4,000
$500,000	$5,000

New Brunswick vs Other Provinces

Province	Transfer Tax on $350K Home	First-Time Rebate	Net Tax
New Brunswick	$3,500	$0	$3,500
Nova Scotia	$5,250	$0	$5,250
Ontario	$3,225	$3,225	$0
BC	$4,000	$4,000	$0 (homes ≤$500K)
Alberta	~$190 (registration fee)	N/A	~$190
PEI	$3,500	$2,000	$1,500

New Brunswick’s 1% rate is lower than most provinces. The lack of a rebate is offset by the low rate itself.

Down Payment Requirements

Home Price	Minimum Down Payment	Amount Needed
Under $500,000	5%	$17,500 on $350K
$500,000–$1,499,999	5% + 10% above $500K	$35,000 on $600K
$1,500,000+	20%	$300,000 on $1.5M

Down Payment Sources

Source	Details
FHSA	$40,000 tax-deductible, tax-free withdrawal
HBP (RRSP)	$60,000 per person, repay over 15 years
Savings	Regular savings or TFSA
Gifts	Family gifts with signed gift letter

First Home Savings Account (FHSA)

Feature	Details
Annual contribution limit	$8,000
Lifetime limit	$40,000
Tax treatment	Deductible contributions + tax-free growth
Withdrawal	Tax-free for qualifying home purchase
NB benefit	Deduction reduces both federal and NB provincial tax

Home Buyers’ Plan (HBP)

Feature	Details
Maximum withdrawal	$60,000 per person ($120,000 couple)
RRSP seasoning	Funds must be in RRSP for 90+ days
Repayment period	15 years
Annual repayment	1/15 of withdrawn amount

Closing Costs in New Brunswick

Cost	Estimated Amount
Real property transfer tax (1%)	$2,000–$5,000
Legal fees + disbursements	$1,200–$2,000
Title insurance	$250–$500
Home inspection	$350–$500
Appraisal (if required)	$300–$500
Property tax adjustment	Varies (pro-rated)
Moving costs	$500–$2,000
Total closing costs	$5,000–$11,000

No PST on CMHC insurance: New Brunswick does not charge PST on mortgage default insurance premiums — a saving of several hundred to over $1,000 compared to provinces like Ontario, Quebec, Saskatchewan, and Manitoba. See PST on mortgage default insurance.

HST on New Homes

New Brunswick uses the HST at 15% (5% federal + 10% provincial).

Situation	HST
Resale home	No HST
New construction	15% HST
Federal GST New Housing Rebate	36% of GST portion if home ≤ $350,000 (max $6,300)
NB HST Rebate	Rebate of provincial portion on qualifying new homes

New Brunswick–Specific Considerations

Housing Market

City	Average Home Price (2025)
Moncton	~$310,000
Saint John	~$275,000
Fredericton	~$320,000
Miramichi	~$230,000
Bathurst	~$180,000
National average	~$700,000+

New Brunswick home prices are roughly 40%–60% below the national average, making homeownership possible for many buyers with modest savings.

Property Tax Rates

New Brunswick has two components to property tax: a municipal rate and a provincial rate.

Component	Approximate Rate
Municipal rate	Varies by municipality (0.80%–1.50%)
Provincial rate	$0.5571 per $100 of assessed value (~0.56%)
Combined rate	~1.40%–2.10%

City	Approximate Combined Rate	Annual Tax on $350K Home
Moncton	~1.55%	~$5,425
Saint John	~1.85%	~$6,475
Fredericton	~1.60%	~$5,600

New Brunswick property tax rates are higher than some provinces due to the combined provincial and municipal assessment. This is an ongoing cost to budget for.

Bilingual Services

New Brunswick is Canada’s only officially bilingual province. Real estate transactions, government services, and legal proceedings are available in both English and French.

Home Energy Efficiency

Program	Details
NB Home Energy Improvement Program	Rebates for energy efficiency upgrades
Federal Greener Homes Grant	Up to $5,000 for qualifying upgrades
Relevance to buyers	Older homes may need insulation, windows, or heating upgrades — budget accordingly

Many homes in New Brunswick, particularly in Saint John and smaller communities, are older. Energy efficiency upgrades may be needed and can sometimes be negotiated into the purchase or funded through available rebate programs.

Mortgage Considerations

Factor	Details
Recourse	New Brunswick is a full recourse province
Foreclosure	Power of sale (relatively quick process)
CMHC insurance PST	No PST on CMHC premiums
Flood risk	Some areas (especially along Saint John River) require flood insurance

Step-by-Step Process

Step	Timeline	Action
1	1–5 years before	Open FHSA, contribute to RRSP
2	6–12 months before	Get mortgage pre-approval
3	3–6 months before	Research cities and neighbourhoods
4	When ready	Find a real estate agent
5	House hunting	View properties, make offers
6	Offer accepted	Conditions: inspection, financing (7–14 days)
7	30–60 days	Closing preparation with lawyer
8	Closing day	Sign documents, get keys

The Bottom Line

New Brunswick is one of the most affordable provinces to buy a home. With average prices of $275,000–$320,000 in the major cities, a 5% down payment of $14,000–$16,000 is often enough to get started. The 1% transfer tax is manageable, and there is no PST on CMHC insurance. Focus on FHSA and HBP to build your down payment, and budget for somewhat higher property taxes than you might expect.