Real estate is more than just buying or selling a house—it’s about finding a place to call home, building financial security, and making informed decisions that support your future. Whether you're a first-time buyer, a seasoned homeowner, or someone curious about investing, understanding how real estate works in New Brunswick can help you feel more confident every step of the way.
When most people talk about real estate, they’re thinking about their home. It might be a single-family house, a condo, a townhouse, or something else entirely. Your home is where you live, but it’s also an investment. As property values rise or fall in your area, your home’s value—and your equity—can change too.
But the term “real estate” isn’t just about homes. It includes the land itself, any buildings on it, and even the rights to the air above and the ground below. There are four main types of real estate:
This includes homes where people live—like houses, condos, coops, townhouses, and duplexes.
Properties used to earn income, such as office buildings, malls, hotels, and apartment complexes.
Warehouses and manufacturing facilities used for producing, storing, or distributing goods.
Vacant lots, farms, and ranches fall into this category.
Buying a home isn’t just about finding a place to live—it’s also a financial decision. When you purchase property, you become a real estate investor. That means thinking about how the value of your home might change over time, and how interest rates could affect your costs.
Some people invest in real estate with the goal of making money. You might buy a home to renovate and resell (known as “flipping”), or purchase rental properties to generate income. Whether you’re buying your first home or building a portfolio, it’s important to understand the risks and rewards.
If you’re like most New Brunswickers, you’ll need a mortgage to buy a home. A mortgage is a loan that helps you cover the cost of your property. In return, your home acts as security for the repayment of the loan. If you meet all the terms, you’ll own your home outright by the end of the specified period of the mortgage agreement—usually after about 25 years.
Before you start house hunting, take time to understand what you can afford. It’s also a good idea to get pre-approved for a mortgage. That way, you’ll know your budget and be ready to make an offer when you find the right place.
Keep in mind: before a bank will issue a mortgage, you’ll need to show proof of homeowners’ insurance.
Buying, selling, or building a home involves many professionals. Here’s who you might meet along the way.
In New Brunswick, the words “agent” and “salesperson” have very specific legal meanings that are different from how most of us use them. Under the Real Estate Agents Act, the difference comes down to who runs the business and who works for them.
A real estate agent is the brokerage. This could be an individual or a business licensed to trade in real estate. The agent is responsible for all contracts, trust accounts, advertising, and supervision of the sales people working under them. The agent carries the legal and financial accountability for the operation.
A real estate salesperson is the individual you deal with when buying or selling a home. They are licensed to work for the agent and handle the day-to-day tasks like showing houses, listing properties, and negotiating deals. A salesperson cannot work on their own. Their licence is only valid while they are connected to a licensed agent.
Real estate agents and real estate salepeople must be licensed by the Financial and Consumer Services Commission of New Brunswick.
Companies that provide sellers with the tools to market and sell their home on their own for a fee.
Help buyers and sellers review and understand important documents, such as offer and acceptance letters, before signing.
Work with their clients to help the client secure a mortgage to finance the purchase of a home.
Act as intermediaries between borrowers and lenders. They must be licensed by the Financial and Consumer Services Commission of New Brunswick.
Assess the condition of a home, to help you make an informed decision when buying a home.
Help determine the value of a home by providing an impartial opinion after conducting a full analysis and evaluation of the property.
If you’re building your own home, you might use the services of a builder or contractor.
An insurance provider can help you protect your home with home insurance. They must be licensed by the Financial and Consumer Services Commission of New Brunswick.