Real estate impacts our province economically, environmentally and socially. From over $660 million in spin-off spending to our efforts to ensure every Nova Scotian has a place to call home, REALTORS® play a part in the success of our communities.
To learn more, or engage with NSAR as a partner, contact Paige at phoveling@nsar.ns.ca
REALTORS® are concerned about affordable housing
NSAR continues to work on addressing issues related to housing supply and attainability in our province with key partners.
NSAR’s submission, We All Play a Part, REALTOR® Solutions to Nova Scotia’s Affordable Housing Crisis , to Nova Scotia’s Affordable Housing Commission is focused on increasing supplies across the housing spectrum.
Improving Deed Transfer Taxes (DTT)
DTT can be an expensive addition to home buying costs, especially for first-time home buyers. REALTORS® are proposing that municipalities amend their policies for the collection of Deed Transfer Tax to either be:
Waived for first-time buyers on the purchase of their first home OR Extended over a five-year payment period.
Fixing the Capped Assessment Program (CAP)
The current CAP on property taxes has created inequalities in tax burden for homeowners across the province. New homeowners, including first-time buyers and seniors who are downsizing, pay significantly more in taxes than their neighbours. NSAR and our partners are proposing changes to the CAP. We have also partnered with other partners to create a CAP Map to demonstrate the impacts of this taxation.
Putting hammers in hands – In order to increase our housing supply, we must have enough tradespeople. NSAR is working with partners to ensure that all Nova Scotians who want to enter the skilled trades and home-building labour force have the ability to do so.
REALTORS® want to help you stay informed ...
The Down Payment Assistance Program is a 10-year interest-free loan created by REALTORS® and Housing Nova Scotia. In 2022 purchase NSAR worked with the provincial government to increase price limits and income caps to help more Nova Scotians purchase their first home. So far, it’s helped over 860 families in Nova Scotia.
Prohibition on the Purchase of Residential Property by Non-Canadians Act limits who can buy residential property and where they can purchase property in Nova Scotia for two years. It doesn’t impact all buyers or all areas of the province. Speak with your REALTOR® who has tools to help you find the perfect home in our province.
Non-Resident Deed Transfer Tax is a tax that is paid by people who purchase homes in the province and are not residents of here. If the buyers intend to move within six (6) months, they will be exempt from the tax. This tax is in addition to the municipal Deed Transfer Tax. Your REALTOR® can help you understand all taxes and fees associated with homeownership.
The Coastal Protection Act is an Act under consultation with the province of Nova Scotia. The Act would limit coastal building and renovations within specific setbacks to protect Coastal areas of Nova Scotia as well as people and infrastructure. This Act is not in place, and REALTORS® continue to consult on it.
Canada Greener Homes Grant was advocated for by REALTORS® to allow homeowners access to grants and funding to make their homes more energy efficient and keep energy costs affordable.
Home Buyers Plan withdrawal limit increased from $25k to $35k and expanded to help during marital or common-law breakdowns.