Answers
Frequently asked questions
Straight answers about buying and selling in Newfoundland — the questions Haris hears every week. General guidance only; your lawyer and lender give advice for your situation.
How do I search homes for sale in St. John's?+
Use the search page to filter MLS listings by city, price, beds, baths, and property type. Every listing has its own page with photos, full details, and a map — all updated live from the MLS feed.
How much does a house cost in Newfoundland?+
Prices vary widely by city and property type. On the current market you'll find homes from around $100k in smaller communities to $1M+ for premium St. John's properties. Check the neighbourhood pages for live median prices in each city.
What closing costs should a buyer budget for in NL?+
Beyond the down payment, budget for the mortgage registration fee, legal fees and disbursements, transfer tax (land transfer tax), and adjustments. A rough rule of thumb is 1.5% to 4% of the purchase price on top of your down payment — your lawyer will give exact figures.
How much is the land transfer tax in Newfoundland and Labrador?+
Newfoundland and Labrador charges a transfer tax of up to 1% of the purchase price or the property's assessed value, whichever is greater, with a minimum fee. Your lawyer calculates the exact amount at closing.
Do first-time buyers get any programs in NL?+
Yes — first-time buyers may qualify for the federal First-Time Home Buyer Incentive alternatives, a GST/HST new housing rebate on new builds, and RRSP Home Buyers' Plan withdrawal of up to $60,000 tax-free. Eligibility rules change, so confirm current terms before relying on them.
How much down payment do I need in Canada?+
For a purchase under $500,000 the minimum is 5%. Between $500,000 and $1.5M it's 5% on the first $500,000 plus 10% on the remainder. Putting down less than 20% means mortgage default insurance (CMHC) is added to your financing.
How long does it take to buy a house in Newfoundland?+
A straightforward purchase typically takes 4 to 8 weeks from accepted offer to closing: financing approval, home inspection, lawyer work on title and searches, and closing day. Cash offers or fewer conditions can move faster.
Should I get a home inspection?+
Almost always yes. A licensed inspector checks structure, roof, electrical, plumbing, and heating — the systems that turn a dream home into an expensive surprise. In Newfoundland's climate, attention to insulation, moisture, and oil tanks is especially worthwhile.
What's my home worth in today's market?+
Online estimates are a guess. Request a free home valuation and Haris will price your home against recent comparable sales in your street — the numbers buyers are actually paying right now.
How much commission does a realtor charge in NL?+
Commission is negotiable and not set by law. In practice it's a percentage of the sale price, typically split between the listing and buying brokerages. Ask for the exact structure in writing before signing a listing agreement.
Can I use my RRSP to buy a first home?+
Yes, through the Home Buyers' Plan (HBP): withdraw up to $60,000 from your RRSPs tax-free toward a qualifying home, to be repaid over 15 years. Both you and your spouse can use it if each qualifies.
What does 'active' mean on a listing?+
Active means the property is currently for sale and accepting offers. Once a listing sells or is withdrawn, it leaves our site — we only show homes that are on the market right now.