Buying a house in New Brunswick: the rules and the costs
The rules that cost money in New Brunswick and nowhere else, each with its source — then one page each for the transfer tax, first-time buyers, closing costs and the market.
What do I need to know to buy a house in New Brunswick?
Three things are particular to New Brunswick: a 1% real property transfer tax on the greater of the price and the assessed value, with no first-time buyer exemption; Land Titles registration at $85 a document; and a tax credit that takes a principal residence’s provincial property tax to $0. Down payment rules and the stress test are federal.
The New Brunswick rules, one page each
Land transfer tax
The real property transfer tax: rate, base, who pays, exemptions, worked at six prices.
First-time home buyers
Homeownership Assistance Program, Home Completion Loan Program — and the federal layers that stack on top.
Closing costs
Every line of the cash to close on the September 2026 benchmark price, who pays it and what is financed.
Housing market
September 2026: benchmark price, sales and inventory from New Brunswick REALTORS®.
Mortgage broker
How a New Brunswick mortgage works with us, remotely from Bedford, and what buying costs.
Go deeper
The detail, if you want it
Property tax after you buy
The Province collects property tax for local governments and Service New Brunswick assesses every property. On a principal residence the Residential Property Tax Credit takes the provincial rate to $0 — you or your lawyer applies for it when you buy — and the year after a sale the assessment resets to market value.
Who closes, and how
A lawyer closes: the final title search, the conversion of the parcel to Land Titles (required when it is sold or mortgaged; the Province then issues a certificate of registered ownership) and the registration, all online through Service New Brunswick.
Rules particular to New Brunswick
A second home or a rental: A home that is not your principal residence pays the provincial residential rate of $0.5617 per $100 of assessment (2024–2026) on top of the local rate.
Buying with tenants in place: A lease survives the sale; the seller serves a Notice of Transfer on the tenants and the Tenant and Landlord Relations Office within seven days, and security deposits pass to the new owner.
Why a broker
Licensed, independent, paid by the lender
- Licensed across Atlantic Canada Indi Mortgage brokerage licences in NS, NB and NL (PEI has no licensing regime); Riley Oickle, Associate Mortgage Broker, NS 3001134
- $0 broker fee On a standard residential mortgage the lender pays, not you
- 33 lenders, one application Banks, credit unions, monolines; one credit check
Questions people ask
How much cash do I need to buy a house in New Brunswick?
On the September 2026 benchmark price of $341,700: $17,085 minimum down and $3,587 in transfer tax and registration. Legal, appraisal and inspection come on top; Riley’s rule of thumb is 1% of the price, about $3,417. The CMHC premium is financed, not paid in cash.
Is there a land transfer tax in New Brunswick?
1% of the greater of the purchase price and the assessed value, paid before the deed is registered; the buyer pays it at closing. There is no first-time buyer exemption or refund in the Act or its regulation.
Is there help for first-time buyers in New Brunswick?
Homeownership Assistance Program (Government of New Brunswick): A repayable loan for 40% of the purchase price, closing costs and modest repairs, for first-time homeowners with household income below $40,000; interest from 0% under $30,000 of income.
Do I need a lawyer to buy a house in New Brunswick?
Yes. A lawyer closes: the final title search, the conversion of the parcel to Land Titles (required when it is sold or mortgaged; the Province then issues a certificate of registered ownership) and the registration, all online through Service New Brunswick.
Still unsure? Ask me directly.
If your question isn't here, your situation is probably specific. Fifteen minutes on the phone beats reading another page, and nothing is pulled on your credit.
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