Buying a home as a newcomer — Prince Edward Island

Can I buy a home in Canada?

It depends on your status in Canada and on where the property is. Canadian citizens and permanent residents can buy anywhere. Until 1 January 2027, non-Canadians cannot buy residential property inside larger urban areas (Census Metropolitan Areas and Census Agglomerations); rural properties outside those areas are exempt, and some work-permit holders qualify for an exception.

Quick check

Answer a few questions to see which points your agent should verify with you.

What buying costs on top of the price

Budget for these in addition to the purchase price. Amounts vary — your lawyer gives exact figures.

• Deed transfer tax (set by the province/municipality)
• Lawyer's fees and disbursements
• Home inspection
• Title insurance
• Property tax and fuel adjustments at closing
• Mortgage insurance premium if the down payment is under 20%

• Prince Edward Island: land purchases by non-residents above 5 acres or 165 ft of shore frontage go through an IRAC approval step under the Lands Protection Act. It is a normal, regularly-granted process — the agent guides it and it is planned into the timeline.
• Until 1 January 2027 the federal ban restricts residential purchases by non-Canadians inside Census Metropolitan Areas and Census Agglomerations; properties outside those areas are exempt.

General information only — not legal, immigration, mortgage, or tax advice. Confirm your situation with a qualified Canadian real estate lawyer.

Talk to us

Tell us where you are in the process — we will tell you honestly what is possible now and what needs to wait.