Closing Costs When Buying a Home in Halifax

Closing costs are the expenses paid in addition to your down payment to legally transfer ownership of a property.

In Halifax, buyers should typically budget 1.5% – 3% of the purchase price.

Example:

$600,000 home → roughly $11,000–$18,000 total closing costs.

Typical estimates fall within this range depending on lender and adjustments.

The Main Closing Costs

Deed Transfer Tax (Biggest Cost)

Nova Scotia charges a municipal Deed Transfer Tax when property ownership changes.

In Halifax Regional Municipality:

Rate: 1.5% of purchase price.

Paid at closing through your lawyer.

Example:

$600,000 home → $9,000 deed transfer tax.

Real Estate Lawyer Fees & Disbursements

A lawyer is required for all Nova Scotia real estate transactions.

Typical Halifax costs:

Legal fee: $900 – $1,300
Disbursements: $300 – $600

Lawyers handle:

• Title search

• Document preparation

• Registration

• Funds transfer

Title Insurance

Protects against ownership or survey issues.

Typical cost:

$250 – $400

Often required by lenders.

Property Tax & Utility Adjustments

Buyer reimburses seller for prepaid items such as:

• Property taxes

• Heating oil or propane

• Utilities

Oil-heated homes may require reimbursement for a full tank at closing.

Mortgage-Related Costs

Appraisal Fee: $300 – $500

Mortgage Default Insurance: added to mortgage if under 20% down.

Home Insurance (Required Before Possession)

Proof must be provided before mortgage funds are released.

Interest Adjustment

Partial-month interest between closing and first mortgage payment.

Costs Some Buyers Forget

Common surprises include:

• Oil tank adjustment ($1,000–$1,500 typical)

• Moving expenses

• Home inspection fees

• Immediate repairs

Experts often recommend budgeting closer to 3%–4% to avoid surprises.

Simple Rule of Thumb

Budget about $12,000 per $600,000 purchase price in Halifax.