First Time Home Buyer Incentives in Nova Scotia 2023

This Page's Content Was Last Updated: June 27, 2022
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First Time Buyer Calculator Nova Scotia

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Nova Scotia First-Time Home Buyer Incentive

The Government of Nova Scotia’s First-Time Home Buyers Rebate gives a rebate of up to $3,000 on newly built homes. The incentive is 18.75% of the provincial portion of the HST on the home, or 1.31% of the purchase of capital stock in a housing cooperative.

How do I qualify for Nova Scotia’s First-Time Home Buyers Rebate?

To qualify for the rebate, you must be buying a home in Nova Scotia. The home must be new construction, and not an existing/resale property, and it must become your principal residence. Only one homeowner can apply for the rebate for the property. To be considered a first-time home buyer, you must not have owned or occupied a home in the last five years in Canada. If you have owned or occupied a home, you can qualify if your home was involuntarily destroyed. You have two years to apply for the rebate.

Nova Scotia Down Payment Assistance Program (DPAP)

The Nova Scotia Down Payment Assistance Program helps first-time home buyers by providing an interest-free loan of up to 5% of their home's purchase price to be used towards the down payment.

To be eligible, the resident must not be able to afford a 5% down payment,the purchase price must be below $280,000 within the Halifax Regional Municipality, or $150,000 for the rest of the province. The applicant's household income must be less than $75,000, have been a Nova Scotia resident for at least 12 months, and are a Canadian citizen or a permanent resident. The property must become your principal residence. The down payment loan is interest-free, and is repayable over ten years.

Household IncomeMaximum Loan Amount (Halifax)Maximum Loan Amount (Rest of Province)
$65,000$14,000$7,500
$66,000$13,300$7,125
$67,000$12,625$6,775
$68,000$12,000$6,425
$69,000$11,400$6,100
$70,000$10,825$5,800
$71,000$10,300$5,525
$72,000$9,775$5,250
$73,000$9,300$4,975
$74,000$8,825$4,725
$75,000$8,400$4,500
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