Hidden Costs of Buying a Home in Nova Scotia (And How to Plan for Them)
You’ve saved your down payment 💰. You’ve crunched the mortgage numbers 🧮. You’re ready to buy your dream home 🏡 in Halifax or beyond.
But wait, what about the sneaky costs no one warned you about? 👀
Buying a home in Nova Scotia can feel like a rollercoaster 🎢. Just when you think you’ve budgeted for everything, boom, another surprise charge 💸 shows up.
Don’t worry, though. We’re breaking down every hidden cost 📝 so you’re not caught off guard.
1. Deed Transfer Tax (a.k.a. the "Welcome to the Neighbourhood" Fee) 🏡
What it is: A one-time municipal tax due on closing day 🗓️.
In Halifax: 1.5% of the purchase price. That’s $7,500 on a $500,000 home 💸.
Non-resident buyers: If you’re purchasing a home in Nova Scotia without the intention of living here, be prepared for a hefty 10% non-resident deed transfer tax 🚨 on top of the standard rate.
What you can do: Work this number into your savings plan early and talk to your lawyer ⚖️ about confirming your residency status to avoid surprises.
2. Legal Fees & Disbursements ⚖️
What they are: Your real estate lawyer handles all the behind-the-scenes magic ✨ to make the deal official — including document review, registration, title search, and more.
Estimated cost: $500 to $2,000 depending on complexity and disbursements 💵.
What you can do: Request a detailed quote upfront so you know what’s included and what might cost extra 📝.
3. Home Inspection Fee 🕵️♂️🏠
What it is: Your ticket to peace of mind. A licensed pro checks for any red flags before you sign the dotted line 🚩.
Cost: $400 to $1,000+, depending on what you choose to inspect — home, sewer line, radon, septic, well, and more 💧🧪.
What you can do: Ask about inspection options early. Prioritize what’s most relevant based on the property type — septic for rural homes, radon if you're in a known zone, etc.
✅ We’ll let you know which inspection options make sense for your specific purchase.
4. Property Tax Adjustment 🧾
What it is: If the seller already paid property taxes for the year, you may need to reimburse them for your portion based on your closing date 💰.
What you can do: Ask your lawyer for an estimate early in the process and factor it into your closing day budget 🗓️📊.
5. Utility Hookups & Adjustments 🔌🔥
What they are: You might owe the seller for prepaid oil or propane, and you’ll need to set up your own utilities, which can come with connection fees.
Cost: Around $200–$500 total 💡💵.
What you can do: Ask for a breakdown of adjustments in your closing statement and call utility providers ahead of time to understand any setup costs 📞📃.
6. Moving Costs 🚚📦
What they are: Trucks, movers, boxes, bubble wrap... or maybe just pizza and muscle power 🍕💪.
Why it varies: Moving can get pricey, especially with full-service movers or if you're relocating from out of province. We’ve seen anything from $500 to $6,000+, depending on the distance and how much help you need.
What you can do: Start collecting quotes early and decide if you’ll go DIY, hire pros, or mix both. Budget more than you think. Future-you will thank you.
Need help? We can recommend a trusted mover to make it all smoother.
7. Home Insurance 🏠🛡️
What it is: A must-have before your mortgage closes. No insurance = no keys.
Average in Nova Scotia: $800 to $1,500 per year 💸.
What you can do: Shop around for quotes early. Rates vary based on location, age of the home, and coverage levels.
💡 Pro tip: Bundle with other insurance (like auto) to save where you can.
8. Condo Fees (If Applicable) 🏢💳
What they are: Monthly payments that cover shared expenses like maintenance, landscaping, and snow removal ❄️🌿.
Halifax range: $200 to $700+ per month, depending on the building and amenities.
What you can do: Review the condo board’s financials and reserve fund.
🔍 Ask if any special assessments are coming or if fees are expected to increase soon — no surprises = peace of mind.
9. Renovations & Repairs 🔨🎨
What they are: That fresh coat of paint, fixing the creaky step, or updating fixtures to make the place feel like home.
Ballpark: $500 to $5,000+, depending on your plans (and surprises).
What you can do: Set aside a “move-in fund” for tweaks and upgrades. Even small things — changing locks, light fixtures, curtains — can add up fast 💡🔧.
10. Furniture & Appliances 🛋️🧺
What they are: Not every home comes with everything you need. While appliances are usually included, there may be missing items like a washer/dryer, lawn mower, or even a heat pump.
What you can do: Make a must-have vs. nice-to-have list 📝. Start with the essentials, and furnish in phases to keep your budget in check 💳🪑.
11. Interest Rate Surprises 📈💥
What it is: That pre-approval rate you got? It might shift by closing if it’s not locked in.
What you can do: Check in with your mortgage broker as closing day approaches.
✅ Ask if your rate is locked, and what your options are if rates change — no one likes last-minute surprises.
How to Plan for the Hidden Costs 🧠💡
➕ Add a 3–5% Buffer to Your Budget
Avoid financial stress by padding your budget for surprises. If your home budget is $500,000, aim to have $15,000 to $25,000 set aside beyond your down payment and closing costs 💵.
📊 Track It All in One Place
Use a spreadsheet or budgeting app to log quotes, deposits, and final amounts. It gives you a clear picture of your total expenses — no surprises = less stress.
❓ Ask Questions Often
There are no silly questions in real estate. The more you ask, the more confident you’ll feel. Don’t hesitate to reach out to your agent, lawyer, or mortgage advisor at any point.
🚨 Build an Emergency Fund
Life happens. Set aside $2,000–$5,000 as a cushion. It’ll save you from financial panic if something unexpected comes up right after you move in.
🏡 Remember the Why
Yes, the costs add up. But this is your future home — a place to build memories, grow roots, and make your space your own. Plan well now so you can enjoy it fully later.
Final Thoughts 🎯✨
Buying a home in Nova Scotia is exciting, but it’s not just about the list price.
By knowing what’s coming, asking the right questions, and budgeting smartly, you can move in with confidence and peace of mind 🧘♀️🔑.
Ready to take the next step?
Let’s make your move happen 🏡💬.
Author: Jordan Gunn
Operations and Marketing
Perkins Real Estate
Keller Williams Select Realty