How much house can I afford in New Brunswick?
New Brunswick uses the national GDS (39%) and TDS (44%) limits at the stress-test rate. Its transfer tax is a flat 1% of the greater of the purchase price or the assessed value, with no first-time buyer exemption that we could find: $3,000 on a $300,000 home. There is no sales tax on the CMHC premium.
Worked examples use 4.12%, the Bank of Canada's average effective rate on new insured 5-year-plus fixed mortgages (2026-08), and are recalculated whenever our rules or rates are updated.
What's different about buying in New Brunswick
New Brunswick's real property transfer tax is the simplest in the country: a flat 1%, with no brackets. There is one twist. The tax is charged on the greater of the purchase price or the assessed value, so a buyer who gets a good deal below assessment still pays tax on the assessed figure.
We found no first-time buyer exemption in the Act, and New Brunswick does not charge sales tax on the CMHC premium. The amount you can borrow is set by the national rules: GDS up to 39%, TDS up to 44%, at the stress-test rate.
The 1% real property transfer tax
The 1% rate applies to deeds registered on or after April 1, 2016. Because it's flat, the tax is easy to estimate: one dollar in every hundred. On a $300,000 purchase it is $3,000. Here is how that compares with two bracket systems at a few example prices, for a first-time buyer:
| Example price | New Brunswick (1%) | Manitoba | Ontario, after refund |
|---|---|---|---|
| $200,000 | $2,000 | $1,650 | $0 |
| $300,000 | $3,000 | $3,650 | $0 |
| $400,000 | $4,000 | $5,650 | $475 |
| $550,000 | $5,500 | $8,650 | $3,475 |
| $700,000 | $7,000 | $11,650 | $6,475 |
At lower prices New Brunswick's flat rate costs a first-time buyer more than Ontario, where a $4,000 refund wipes out the tax on modest homes, and across this range Ontario's refund keeps it below New Brunswick. Manitoba, which has no first-time relief, costs more than New Brunswick at every example price from $300,000 up.
The greater of price or assessed value
The rule matters most when you buy below the assessment. With some example values:
| Example price | Example assessed value | Taxed on | Transfer tax |
|---|---|---|---|
| $300,000 | $280,000 | $300,000 | $3,000 |
| $300,000 | $325,000 | $325,000 | $3,250 |
| $450,000 | $470,000 | $470,000 | $4,700 |
Check the property's current assessment before you budget. If it is above your offer price, use the assessment.
How New Brunswick compares with its neighbours
The three Maritime provinces take three different approaches. On the same $300,000 example purchase, assuming the assessed value is not higher than the price:
| Province | First-time buyer | Repeat buyer |
|---|---|---|
| New Brunswick | $3,000 | $3,000 |
| Nova Scotia (Halifax, 1.5%) | $4,500 | $4,500 |
| Prince Edward Island | $0 | $3,000 |
Nova Scotia's deed transfer tax is set by each municipality (Halifax charges 1.5%), and non-residents of Nova Scotia pay an extra 10% provincial tax. Prince Edward Island also charges 1%, but exempts qualifying first-time buyers in full. New Brunswick's 1% applies to everyone. See the Nova Scotia and Prince Edward Island pages for their rules.
First-time buyers in New Brunswick
We found no first-time buyer exemption in the Real Property Transfer Tax Act, though we have not reviewed its regulations, so plan on paying the full 1%. Federal programs are where first-time help comes from: the FHSA (up to $8,000 a year and $40,000 in total), the RRSP Home Buyers' Plan (up to $60,000 per person), the home buyers' amount and, on a new home, the first-time GST rebate. First-time buyers with an insured mortgage can also choose a 30-year amortization. Details are in first-time home buyer programs.
A New Brunswick affordability example
A first-time buyer household earning $85,000, with a $25,000 down payment (closing costs come on top), $350 a month of other debts and an example rate of 4.12% over 25 years. We use an example property tax of 0.75% and $100 a month for heat. The lender maximum is about $384,900 (GDS), and the transfer tax at that price is $3,849 if the assessment is not higher.
Property tax matters as much as the transfer tax here. If the same home carried a tax rate of 1.25% instead of 0.75%, an example to show the effect, the maximum would drop to about $364,300. Use the rate on the property's last tax bill.
| Household income | Down payment | Maximum price | Minimum down at that price | Transfer tax | Cash to close |
|---|---|---|---|---|---|
| $60,000 | $15,000 | $251,700 | $12,585 | $2,517 | $20,217 |
| $85,000 | $25,000 | $384,900 | $19,245 | $3,849 | $31,549 |
| $115,000 | $45,000 | $535,800 | $28,580 | $5,358 | $53,058 |
| $150,000 | $75,000 | $723,100 | $47,310 | $7,231 | $84,931 |
Cash to close is the down payment, the transfer tax and our $2,700 planning estimate for legal fees, title insurance and an inspection. Get real quotes, since fees vary.
Next steps
- Run your numbers in the affordability calculator with New Brunswick selected and your property's tax rate.
- Add the transfer tax and fees in the closing costs calculator; enter the assessed value if it's higher than the price.
- Read the closing costs guide for what else to set aside before closing day.
Run the numbers for New Brunswick
This calculator starts with New Brunswick's transfer tax and first-time relief. Open your full affordability plan set to New Brunswick.
Closing costs and land transfer tax calculator
Cash you need on closing day on top of your down payment.
| New Brunswick real property transfer tax (1%) | $6,500 |
|---|---|
| Legal / notary | $1,800 |
| Title insurance | $350 |
| Inspection / appraisal | $550 |
| Total | $9,200 |
Estimate, not advice. Your lawyer or notary prepares the final statement of adjustments, including property-tax and utility adjustments not shown here.
Closing costs $9,200, of which land transfer tax or fees $6,500.
Assumptions & sources
Assumptions
- Transfer tax is calculated on the purchase price (NB, PE and NS use the greater of price or assessed value).
- First-time buyer rebates assume you meet every condition (residency, occupancy, never owned).
- Legal, title insurance and inspection figures are our planning estimates; get quotes.
Sources
Frequently asked questions
How much is land transfer tax in New Brunswick?
1% of the greater of the purchase price or the assessed value, for deeds registered since April 1, 2016. On a $300,000 home that is $3,000, unless the assessment is higher.
Is there a first-time buyer exemption in New Brunswick?
We found none in the Real Property Transfer Tax Act, so plan on paying the full 1%. Federal programs such as the FHSA and the Home Buyers' Plan still apply.
What if I buy below the assessed value?
The tax is charged on whichever is greater, the price or the assessed value, so you pay 1% of the assessment. Your down payment and mortgage are still based on the price.
How much house can I afford in New Brunswick on $85,000?
About $384,900 with $25,000 down, $350 a month of other debts, an example 4.12% rate and an example 0.75% property tax.
Primary sources
- Government of New Brunswick — Real Property Transfer Tax Act, s. 2. Checked .
- CMHC — Calculating GDS / TDS. Checked .
- OSFI — Minimum qualifying rate for uninsured mortgages (Guideline B-20). Checked .
- CMHC — Homeowner mortgage loan insurance: Purchase (eligibility). Checked .
- Canada Revenue Agency — Contributing to your FHSA. Checked .
- Canada Revenue Agency — What is the Home Buyers' Plan. Checked .