Is there a first-time buyer land transfer tax rebate in Manitoba?
Not currently. Every buyer pays it, so it has to be in your budget.
The down payment is only part of it. Here's the rest.
Most buyers plan for the down payment and get surprised by everything else. Manitoba charges land transfer tax on every purchase, and there's no first-time buyer exemption. Add legal fees, an inspection and a few adjustments, and closing costs add up fast. Lenders want to see you've got them covered.
| Portion of the price | Rate |
|---|---|
| First $30,000 | 0% |
| $30,000 to $90,000 | 0.5% |
| $90,000 to $150,000 | 1% |
| $150,000 to $200,000 | 1.5% |
| Over $200,000 | 2% |
On a $350,000 home, land transfer tax is $4,650.
Other closing costs: legal fees and disbursements, a home inspection, title insurance, property tax and utility adjustments, and moving costs. Many lenders want you to have about 1.5% of the price set aside for closing costs.
“The buyers who have a smooth closing are the ones who knew every cost before they made an offer. That conversation takes about 20 minutes.”- Jeremy LaHaie
Not currently. Every buyer pays it, so it has to be in your budget.
Generally no. Lenders expect them to come from your own savings.
Plan on about 1.5% of the price plus your land transfer tax.
The buyer, on possession day, through the lawyer.
Yes, from immediate family, with a signed gift letter.
No. I work across Manitoba, including Southeast Manitoba.