How much money do I need to buy a house in Nova Scotia?

On a $450,000 home in Halifax with the minimum 5% down, plan on roughly $33,000 in cash: $22,500 for the down payment and about $11,000 in closing costs (deed transfer tax, legal fees, inspection, adjustments and moving). Use the calculator on this page with your own price and quotes.

What are closing costs in Nova Scotia?

Closing costs are the one-time costs on top of your down payment: municipal deed transfer tax (1.5% of the price in Halifax), legal fees and disbursements, a home inspection, adjustments for property tax or heating oil the seller prepaid, and moving. A common rule of thumb is to budget 2% to 3% of the purchase price.

Who pays deed transfer tax in Nova Scotia?

The buyer. Deed transfer tax is a municipal tax charged when the deed is registered, and your lawyer pays it from your closing funds. In Halifax Regional Municipality it's 1.5% of the purchase price; other municipalities set their own rates.

Is CMHC insurance paid upfront in Nova Scotia?

Usually not. The CMHC (mortgage default insurance) premium is normally added to your mortgage and paid off over time. Nova Scotia doesn't charge provincial sales tax on the premium, unlike Ontario, Quebec and Saskatchewan.

Cost of Buying a House in Nova Scotia (2026 Breakdown)

Buying a home in Nova Scotia costs more than the down payment. Between deed transfer tax, CMHC insurance, legal fees and the adjustments that show up on closing day, most buyers need an extra 2% to 3% of the purchase price in cash, and that's before the property tax, heating and insurance bills start.

The quick answer: on a $450,000 home in Halifax with 5% down, you'll need about $33,400 in cash to close ($22,500 down payment + about $10,900 in closing costs), and your mortgage payment will be about $2,461 a month at 4.5% over 25 years.

This guide walks through every cost, shows the Nova Scotia numbers, and links to the official sources. Use the calculator to run your own numbers, and follow the links to our deeper guides on each cost.

Key takeaways

Minimum down payment is 5% of the first $500,000 and 10% of the portion above that. Homes priced at $1.5 million or more need 20%.
With less than 20% down you pay a CMHC insurance premium of 2.80% to 4.00% of the loan, usually added to your mortgage.
Deed transfer tax is a municipal tax paid by the buyer: 1.5% of the price in Halifax Regional Municipality.
Budget about 2% to 3% of the price for closing costs on top of your down payment.
Property tax can jump the year after you buy, because the seller's capped assessment resets to market value.

What a $450,000 home costs to buy

Here's the same Halifax home at three different down payments. Closing costs stay the same; what changes is how much you borrow and whether you pay CMHC insurance.

	5% down	10% down	20% down
Down payment	$22,500	$45,000	$90,000
Closing costs (estimate)	$10,900	$10,900	$10,900
Cash needed to close	$33,400	$55,900	$100,900
CMHC premium (added to mortgage)	$17,100	$12,555	$0
Total mortgage	$444,600	$417,555	$360,000
Monthly payment, 25 years at 4.5%	$2,461	$2,311	$1,993
Monthly payment, 30 years at 4.5%	$2,246	$2,109	$1,815

Closing costs in this example: $6,750 deed transfer tax (1.5%), $1,500 legal fees and disbursements, $550 home inspection, $600 closing adjustments and $1,500 for moving and setup. The 30-year rows assume you qualify for a 30-year insured mortgage (first-time buyers and new builds); they include CMHC's 0.20% surcharge for amortizations over 25 years.

Cost-to-buy calculator

Cash you need to close, plus your mortgage and monthly payment. Every number is editable.

Purchase price

Down payment

$22,500 · minimum for this price is $22,500

Interest rate

Use your quoted rate

Amortization

30 years with under 20% down: first-time buyers and new builds only

Deed transfer tax rate

1.5% in Halifax Regional Municipality. Rates vary by municipality; check yours.

Legal fees + disbursements

Estimate. Use your lawyer's quote

Home inspection

Estimate. More for rural homes

Closing adjustments

Prepaid property tax, oil, etc.

Moving + setup

Movers, utility hookups, basics

Cash needed to close

Down payment: $22,500
Deed transfer tax: $6,750
Legal fees + disbursements: $1,500
Home inspection: $550
Closing adjustments: $600
Moving + setup: $1,500
Total cash to close: $33,400

Your mortgage

CMHC insurance premium4% of the loan, added to your mortgage: $17,100
Total mortgage: $444,600
Monthly paymentPrincipal + interest only: $2,460.74

Estimates only, not a quote or financial advice. Monthly payment uses Canadian semi-annual compounding and excludes property tax, insurance and heating. Nothing you enter is saved or sent anywhere: it clears when you leave the page.

You can also open the cost-to-buy calculator on its own page to bookmark it.

1. Your down payment

Your down payment is the biggest cash cost, and the minimum depends on the price of the home. These are the federal rules for every province, including Nova Scotia:

Purchase price	Minimum down payment
Up to $500,000	5% of the price
$500,000 to $1,499,999	5% of the first $500,000 + 10% of the rest
$1,500,000 or more	20% of the price

So a $400,000 home needs at least $20,000 down, and a $700,000 home needs at least $45,000 ($25,000 + 10% of $200,000).

Most first-time buyers use some mix of savings, a First Home Savings Account (FHSA) and the RRSP Home Buyers' Plan. An FHSA lets you put away up to $8,000 a year (up to $40,000 in total) and take it out tax-free for your first home. The Home Buyers' Plan lets you borrow up to $60,000 from your RRSP and pay it back over 15 years. You can use both.

If the down payment is a gift from family, your lender will usually ask for a signed gift letter and proof the money is in your account before closing.

2. CMHC mortgage insurance

If you put down less than 20%, your mortgage has to be insured against default. Most Canadians know this as "CMHC insurance", though Sagen and Canada Guaranty offer it too. You pay the premium, but it protects the lender, not you.

The premium is a percentage of your loan, based on how much you're borrowing compared with the price:

Down payment	Premium (% of the loan)
5% to 9.99%	4.00%
10% to 14.99%	3.10%
15% to 19.99%	2.80%
20% or more	No insurance required

Three things to know in Nova Scotia:

It's usually added to your mortgage, not paid in cash. On a $427,500 loan at 4.00%, that's $17,100 added to what you owe, plus interest over time.
There's no provincial sales tax on the premium in Nova Scotia. Buyers in Ontario, Quebec and Saskatchewan have to pay PST on it in cash at closing. You don't.
A 30-year amortization costs 0.20% more. Since December 15, 2024, first-time buyers and anyone buying a newly built home can get a 30-year insured mortgage. The monthly payment drops, but you pay a slightly higher premium and more interest overall.

Insured mortgages are only available on homes priced under $1.5 million.

3. Deed transfer tax

Nova Scotia doesn't have a provincial land transfer tax. Instead, each municipality charges a deed transfer tax when the deed is registered in your name. The buyer pays it, and your lawyer sends it from your closing funds.

In Halifax Regional Municipality the rate is 1.5% of the purchase price: $6,750 on a $450,000 home.
Other municipalities set their own rates. Check the exact rate for the town or county you're buying in before you budget.
Rates run from 1% to 1.5%. Pictou County, Yarmouth and several Digby and Guysborough municipalities charge 1%, according to Service Nova Scotia's municipal rate list.
There's no general first-time buyer exemption from municipal deed transfer tax in Nova Scotia, so budget for the full amount.
Buyers who aren't Nova Scotia residents also pay a 10% provincial non-resident deed transfer tax, unless they become residents within the allowed time. See buying as a newcomer or non-resident.

Our deed transfer tax calculator has every municipality's rate. Acres also has a guide to deed transfer tax in Nova Scotia and Halifax, including the exemptions that exist.

4. Legal fees, disbursements and title insurance

In Nova Scotia a lawyer handles your purchase: they check the title, register the deed and mortgage, hold and move the money, and prepare the statement of adjustments.

Expect to pay:

Legal fee: the lawyer's flat fee for the purchase. As one example, Halifax firm Quartermaine & Associates publishes legal fees of $850 to $1,000 depending on the transaction.
Disbursements: out-of-pocket costs the lawyer passes on to you, such as recording fees at the land registry, a tax certificate, searches and courier costs. The same firm lists recording fees of $100 per document and a $100 tax certificate.
Title insurance: a one-time policy most lenders accept in place of a survey. That firm lists it at under $300 for homes under $500,000.
HST at 14% on the legal fee (Nova Scotia's HST dropped from 15% to 14% on April 1, 2025).

Ask for an all-in quote that includes disbursements and HST. Our guide to real estate lawyer fees breaks down every line, and Acres explains what a real estate lawyer does on a purchase if you want the full picture.

5. Home inspection

A standard home inspection costs roughly $500 to $650 plus HST for a typical house in the Halifax area, less for a condo. For example, Dartmouth-based Acetech Home Inspections publishes $495 for a detached home under 2,000 square feet and $280 to $450 for condos, plus HST. It's not legally required, but skipping it on an older Nova Scotia house is a gamble. Our guide to home inspection costs compares inspectors' published prices.

Rural homes often need extra checks that a general inspection doesn't cover:

Well water test: bacteria and chemistry (arsenic and uranium occur naturally in some parts of Nova Scotia).
Septic inspection: a pump-out and inspection of the tank and field.
WETT inspection: for wood stoves and fireplaces. Your insurer will probably ask for it.
Oil tank check: age and condition matter to insurers.
Radon test: a long-term test after you move in is the most accurate.

Add-ons are priced separately. The same inspector lists a WETT inspection at $300, a septic inspection at $450 and radon screening at $250, plus HST. If you're buying in the country, read our guide to buying a home with a well and septic before you write an offer.

See Acres' home inspection checklist for Nova Scotia buyers and its guide to rural property in Nova Scotia.

6. The statement of adjustments

A few days before closing, your lawyer sends the statement of adjustments that settles costs between you and the seller up to the closing date. The common ones in Nova Scotia:

Property tax: if the seller has already paid the tax bill past your closing date, you reimburse them for the days you'll own the home.
Heating oil: if the home heats with oil, the agreement of purchase and sale usually says how oil left in the tank is handled. Often the buyer pays the seller for it at closing: Quartermaine & Associates budgets $1,300 to $1,500 for this fuel adjustment. Check the agreement before you sign.
Condo fees: if you're buying a condo, you reimburse any prepaid monthly fees.

Adjustments are usually a few hundred dollars, but they can run higher if you close early in a tax year the seller prepaid. Acres covers offers, conditions and the closing timeline in Nova Scotia step by step.

7. What your lender needs before closing

Home insurance: your lender won't release the money until you have a policy in place from the closing date. Get quotes early. Oil tanks, wood stoves and older wiring can change the price, or whether you can get coverage at all.
Appraisal: the lender may order an appraisal to confirm the home is worth what you're paying. Ask your lender up front whether you or they pay for it.
Proof of funds: bank statements showing your down payment and closing costs have been in your account (or explained, like a gift) for the lender's required period.

8. Moving and getting set up

The costs that aren't on any closing statement still need to be in your budget:

Movers or a truck rental
Utility hookups and deposits (Nova Scotia Power, internet, water if you're on municipal service)
Changing locks
Basics that come with a house and not an apartment: a lawnmower, a snow shovel or blower, window coverings

Get two or three moving quotes early; the calculator above uses $1,500 as a placeholder. Moving to Nova Scotia from another province costs more.

Buying a new build? Plan for HST

New homes in Nova Scotia are subject to HST at 14% (it dropped from 15% on April 1, 2025). Usually it's built into the builder's price, but read the agreement carefully: some builders quote prices plus HST, and rebates may or may not be assigned to the builder. Acres has a guide to new construction in Nova Scotia and HST.

Two rebates can help first-time buyers of a new home:

The federal First-Time Home Buyers' GST/HST rebate removes the GST (the federal 5% part of HST) on a qualifying new home up to $1 million, worth up to $50,000, phasing out between $1 million and $1.5 million. It applies to agreements signed from March 20, 2025 and before 2031. See the CRA's eligibility rules.
Nova Scotia's First-Time Home Buyers Rebate refunds 18.75% of the provincial part of the HST on a newly built home, up to $3,000. You apply within 24 months. See the province's program overview.

The costs that start after you move in

Closing day is the end of the one-time costs and the start of the ongoing ones. Budget for these before you decide what price you can afford.

Property tax, and the Nova Scotia "cap" reset

Your municipality bills property tax based on your PVSC assessment. Many long-time owners pay tax on a lower, capped assessment through the province's Capped Assessment Program (CAP), which limits how fast a home's taxable assessment can rise.

When a home sells, the cap comes off. For the year after the sale, the new owner is taxed on the full market value assessment. That means your tax bill can be noticeably higher than what the seller paid. Don't budget using the seller's last tax bill. Ask for the current market value assessment and use your municipality's tax rate instead. If the home qualifies, the cap can apply again from the following year.

For every ongoing cost in one place, see our guide to the real cost of owning a home. Read more in PVSC's explanation of the Capped Assessment Program and Acres' guide to Nova Scotia property tax and PVSC assessments.

Heating and power

Heating is the cost that surprises people moving to Nova Scotia. Oil, electric baseboard, heat pumps and wood all cost very different amounts to run through a winter. Before you buy, ask the seller for a year of heating and Nova Scotia Power bills. Acres breaks down heating costs in Nova Scotia and what homeowners pay for electricity.

Insurance and maintenance

Home insurance is a monthly cost for as long as you own the home. For maintenance, a common rule of thumb is to set aside 1% to 2% of the home's value each year. On a $450,000 home, that's $375 to $750 a month. Older homes and homes with wells, septic systems or oil tanks sit at the higher end.

Should you buy at all?

If you're renting now, compare both paths before you commit. Our guide to renting vs. buying in Halifax runs the numbers, and our guide to renting in Nova Scotia covers your rights while you save. When it's time to borrow, start with how mortgages work.

Already own and planning to sell first? See selling a house in Nova Scotia for the costs on that side. Agents can find practical help in our guide to real estate marketing for agents.

How to lower the cost of buying

Use an FHSA and the Home Buyers' Plan for your down payment. FHSA contributions are tax-deductible, and withdrawals for your first home are tax-free.
Claim the First-Time Home Buyers' Tax Credit. It's worth up to $1,500 on your tax return in the year you buy.
Get more than one legal quote, and make sure each includes disbursements and HST.
Think twice before stretching the amortization. A 30-year mortgage lowers the monthly payment, but on a $445,000 loan at 4.5% you'd pay tens of thousands more in interest over the life of the mortgage.
Get to 10% or 20% down if you can. Each step down in the premium tier saves thousands. Going from 5% to 10% down on a $450,000 home cuts the premium from $17,100 to $12,555.
Budget for the uncapped property tax. It's better to be pleasantly surprised than squeezed in year two.

Sources

Financial Consumer Agency of Canada: Saving for a down payment
CMHC: Mortgage loan insurance premiums
Service Nova Scotia: Municipal deed transfer tax rates
Canada Revenue Agency: First-time home buyers' GST/HST rebate
Halifax Regional Municipality: Property tax information
PVSC: Capped Assessment Program
Canada Revenue Agency: First Home Savings Account and Home Buyers' Plan

The True Cost of Buying a Home in Nova Scotia (2026 Breakdown)