First-Time Home Buyer Costs in Nova Scotia (Full Breakdown)

The down payment is the amount of money you pay upfront toward the home.

In Canada, the minimum down payment depends on the price of the home:

• 5% on the first $500,000

• 10% on the portion between $500,000 and $999,999

• 20% if the home costs $1,000,000 or more

If your down payment is less than 20%, you will need mortgage insurance through CMHC or another provider.

👉 Learn more about Mortgage Loan Insurance.

Closing costs are paid when you officially buy the home.

In Nova Scotia, these usually add up to 1.5%–4% of the purchase price.

Here’s what they include:

Land Registration (Deed Transfer) Tax

Most areas in Nova Scotia charge 1%–1.5% of the purchase price.

Each municipality is different, so it’s important to check your local rate.

Legal Fees

A real estate lawyer handles paperwork and protects you during the sale.

• Typical cost: $1,200–$2,000

Title Insurance

This protects you from issues with ownership or past paperwork errors.

• Typical cost: $300–$500

A home inspection is not always required — but it’s strongly recommended.

It helps you understand the condition of the home before you buy.

• Typical cost in Nova Scotia $400–$700

👉 Learn more about home inspections.

Even short moves cost more than people expect.

Things to budget for:

• Moving truck or movers

• Boxes and packing supplies

• Cleaning costs

• Temporary storage (if needed)

Depending on how much you're doing yourself, and how much you're hiring others for.

Estimated cost: $500–$2,000+

Once you get the keys, there are new costs right away:

• Utility hookups (power, water, internet)

• Heating oil or propane

• Snow removal or lawn care

• Furniture or tools

These costs are often forgotten — but they add up fast.

Good news — there are programs that can help.

First-Time Home Buyers’ Tax Credit

You may qualify for a federal tax credit when you buy your first home.

👉 Read more on the First-Time Home Buyers' Tax Credit

RRSP Home Buyers’ Plan

You can use money from your RRSP to help with your down payment.

👉 Learn more about the RRSP Home Buyers' Plan

As a simple rule of thumb:

• Down payment

• PLUS 2–4% of the purchase price

• PLUS a small emergency fund

This helps you avoid stress and last-minute surprises.

Buying your first home in Nova Scotia doesn’t have to feel overwhelming.

The key is knowing what’s coming before you start.

When you understand the full cost, you can make better choices — and enjoy the process a lot more.

If you’re thinking about buying your first home — or even just starting to explore the idea — we’re happy to help.

👉 Learn more about the Buying Process
👉 Download our free Buyer’s Starter Guide
👉 Ask questions — we're here to help.

Buying a home is a big step. You don’t have to figure it out alone.

Get in touch, and see how we can help.