What should you know before buying your first home in St. John’s?
Buying your first home in St. John’s is still achievable in 2025 — but you need a clear plan, realistic expectations, and the right strategy to compete in today’s fast-moving market.

St. John’s Is Still Affordable for First-Time Buyers

If you’re wondering whether you can actually afford a home in St. John’s, you’re not alone. Many first-time buyers feel intimidated by rising prices across Canada — but St. John’s remains one of the few major markets where homeownership is still within reach.

Detached homes are averaging around $397,000, with many solid entry-level options between $300,000 and $350,000. Neighborhoods like Mount Pearl, Goulds, Kilbride, and CBS often offer bungalows, split entries, and townhomes that are ideal starter homes — sometimes with rental potential to help offset your mortgage.

You May Qualify for the First-Time Homebuyers Program (FHP)

Newfoundland and Labrador offers a First-Time Homebuyers Program (FHP) designed to help with upfront costs — often the biggest hurdle for new buyers.

Here’s how the program works:

• Loan of up to 5% of the purchase price
• Grant covering 50% of legal fees (up to $1,500)
• Full assistance available for household incomes under $85,000
• Partial assistance for incomes up to $95,000
• Property price caps depending on area (e.g., $350,000 in St. John’s Metro)

The 5% loan is repayable, but it can significantly lower your down payment or help you make important early upgrades.

You Get Real Space — and a Real Lifestyle

One of the biggest advantages of buying a home in St. John’s is the lifestyle that comes with it. You’re not settling for a tiny box with no privacy — you often get a driveway, a backyard, storage space, and room to grow.

And unlike larger metro areas across Canada, daily life here isn’t ruled by long commutes or overwhelming congestion. You get more home, more lifestyle, and more breathing room for your budget.

The Downsides: What You Need to Be Prepared For

Even with all the advantages, there are cons to consider — and they matter when you’re planning your first purchase.

1. The Market Is Competitive

Inventory has tightened significantly, dropping roughly 35% year-over-year. That means:

• Move-in-ready homes around $300K go extremely fast
• Properties often get 30+ showings
• It’s common to see 10–15 offers
• Homes may be held for offers over several days

To compete, you need to be pre-approved, responsive, and ready to act when the right place hits the market.

2. Entry-Level Homes May Need TLC

Many starter homes were built in the 1980s or 1990s. You may encounter:

• Electric baseboard heating
• Oil heat
• Older kitchens or bathrooms
• Dated finishes

But if the roof, windows, and structure are in good shape, it’s often a smart long-term investment. Cosmetic updates can happen over time — that’s how you build equity.

Tips for First-Time Buyer Success in St. John’s

If you’re planning to buy your first home, here’s what will make the biggest difference:

1. Get pre-approved before viewing homes.
2. Know your monthly comfort zone, not just your price ceiling.
3. Consider areas within 15–20 minutes of where you want to be — traffic is rarely a big issue here.
4. Focus on layout and structure, not paint colors or fixtures.
5. Work with a local agent who understands the pace and pressure of the current market.

Final Takeaway

Buying your first home in St. John’s in 2025 is absolutely achievable — but preparation is everything. With a competitive market, strong demand, and limited inventory, having a plan (and the right support) can make all the difference in landing a home that fits your life and your budget.

Call to Action

Want a clear plan for buying your first home?
Reach out directly using the Contact Page to book a 15-minute call so we can map out your best options in today’s market.