First Time Home Buyer Guide — Moncton, NB

Navigate Moncton's hot housing market as a first-time buyer. Programs, down payment strategies, and step-by-step guidance for 2025.

First-Time Buying in Moncton's Hot Market

Moncton's real estate market is the most competitive in New Brunswick. With average prices around $320,000 in 2025, first-time buyers face more competition than in Fredericton or Saint John — but still far less than in Toronto or Vancouver. The good news: Moncton's job market is strong, wages are growing, and there are meaningful provincial and federal programs to help first-timers get into the market.

Programs Available to First-Time Buyers in Moncton

Program	Benefit	Max Value
NB Land Transfer Tax Rebate	Rebate on provincial LTT for first-time buyers	Up to $3,000
First Home Savings Account (FHSA)	Tax-deductible, tax-free withdrawals for first home	$8,000/yr, $40,000 lifetime
RRSP Home Buyers' Plan	Withdraw up to $35,000 from RRSP tax-free	$35,000/person
First-Time Home Buyer Tax Credit	Federal non-refundable credit	Up to $1,500
CMHC Mortgage Insurance	Enables 5% down payment purchase	Enables entry

Down Payment Required in Moncton

For a $320,000 Moncton home in 2025:

• Minimum 5% down payment: $16,000
• 10% down: $32,000 (reduces CMHC premium significantly)
• 20% down: $64,000 (eliminates CMHC insurance entirely)
• Combined FHSA + RRSP HBP allows up to $75,000 tax-advantaged savings per person ($150,000 for couples)

Competing in Moncton's Market

Moncton sees multiple-offer situations more frequently than other NB cities. As a first-time buyer, you can compete effectively by:

• Getting fully underwritten pre-approval (not just pre-qual) — sellers take this more seriously
• Working with an experienced local buyer's agent who knows the Dieppe/Riverview/Moncton North micro-markets
• Being flexible on closing dates — sometimes sellers prioritize this over price
• Including a personal letter (where legally permitted) in competitive situations
• Considering new construction in developing areas of Dieppe or Moncton North where competition is lower

Saving Your Down Payment Faster

The typical Moncton first-time buyer saves for 2–4 years toward a down payment. Reducing everyday expenses — including banking fees — accelerates this timeline. The average Canadian wastes $180–$360 per year on bank account fees. KOHO eliminates these entirely while also earning 1% cash back on purchases.