Buying a Home: PE
Buying a Home in Prince Edward Island
This page is the free Prince Edward Island guide. No sign-in. Read on, or take the checklist as a PDF.
Facts checked September 2026 · See what changed · How we check
Province-specific costs, taxes, and the step-by-step process for Prince Edward Island home buyers.
Prince Edward Island home buyer's checklist
Keep it with the rest. This one files behind tab 3 of the Home File.
1
Land Transfer Tax / Fees
Open this section ↓↑ Close this sectionPEI Real Property Transfer Tax: 1% of the greater of purchase price or assessed value, the same rate for residents and non-residents (PEI has no flat non-resident transfer-tax surcharge). Separately, non-residents face acreage limits under the Lands Protection Act (cabinet approval is required to acquire more than 5 acres or property with more than 165 ft of shore frontage) and pay a higher annual provincial property tax.
Official rate information →First-Time Buyer Rebate
First-time buyers are exempt from the 1% Real Property Transfer Tax. To qualify you must be a Canadian citizen or permanent resident; have had your principal residence in PEI for at least six consecutive months before registration, or have filed PEI income tax returns in at least two of the six preceding taxation years; never have held a registered interest in a property anywhere that was your principal residence; and never have received this exemption before. There is no household income limit and no purchase-price cap.
2
Closing Costs to Budget For
Open this section ↓- Real Property Transfer Tax (1%)
- Legal fees (ask for a quote)
- Title insurance (varies by property value)
- Home inspection (varies by property size and age)
- HST on new builds
3
Professionals You'll Need
Open this section ↓↑ Close this sectionLawyer / Notary
A lawyer completes the title transfer. No law society publishes a set fee tariff, so fees vary by firm and by the complexity of the transaction; ask for a quote up front.
Title Insurance
Recommended. Premiums are a one-time cost that varies with the property value and the insurer; ask your lawyer or notary for a quote.
Home Inspector
Recommended. Costs vary with the size, age and location of the property; ask the inspector for a quote.
4
Where Title Is Registered in Prince Edward Island
Your lawyer registers the transfer/deed with the Registrar of Deeds (PEI Dept of Finance).Open this section ↓Your lawyer registers the transfer/deed with the Registrar of Deeds (PEI Dept of Finance). PEI uses a deeds-based system: title transfers by deed, not by a guaranteed land titles certificate.
Registrar of Deeds (PEI Dept of Finance) →5
Step-by-Step Process
Open this section ↓- 1Pre-approval
- 2Offer conditional on financing and inspection
- 3Lawyer completes title search
- 4Close
↑ Close this sectionArrange home insurance
Your lender requires proof of insurance before funds are released. Contact your insurer before possession day.
6
Watch Out For
Open this section ↓Non-resident restrictions: federal and provincial rules limit agricultural land purchases by non-Canadians
Well and septic systems are common; have both tested
Built by Nathan, nine years in the Canadian Army, paperwork done the hard way first.
Home Buyer Package
$14
Closing costs · land transfer tax · buyer checklist
- ✓Offer checklist
- ✓Closing cost worksheet
- ✓Land transfer tax guide
Official sources
Facts checked September 2026
Informational guide only. Guidepost is not a law firm. This guide explains the typical process and is not legal advice. Requirements can change. Verify current rules with the relevant government authority or a qualified professional before you act.