Buying a Property in Montreal in 2026: The Full Cost Breakdown

By Emmanuel Khoury | eXp Realty Montreal | May 2026

 

You've found your dream condo. The price looks right. But before you sign anything, there's a number that surprises almost every first-time buyer in Montreal: the real total cost of buying a property goes well beyond the purchase price.

In Quebec, closing costs typically add between 2% and 5% on top of what you pay for the property itself. On a $500,000 condo, that's an extra $10,000 to $25,000 you need ready in cash — and most of it is due at the notary.

Here's a clear, honest breakdown of every cost you should expect.

1. Notary Fees

In Quebec, real estate transactions are handled by a notary — not a lawyer. The notary prepares the deed of sale, verifies titles, registers the transaction, and coordinates with your mortgage lender.

Typical notary fees in Montreal range from $1,200 to $1,800 for a standard purchase. If you have a mortgage (which most buyers do), expect the higher end of that range. Fees vary by notary, so it's worth asking for quotes from two or three.

2. The Welcome Tax (Taxe de Bienvenue)

Don't let the friendly name fool you — the welcome tax (officially called droits de mutation) is one of the largest closing costs you'll face. It's a one-time municipal transfer tax paid to the city or municipality where your property is located.

It's not due at closing. Quebec municipalities send you a bill 4 to 6 months after the deed is signed. Many buyers forget to budget for it and get caught off guard.

The rate in Montreal is calculated on a sliding scale:

• 0.5% on the first $58,900
• 1.0% from $58,900 to $294,600
• 1.5% from $294,600 to $552,300
• 2.0% on the portion above $552,300

 

On a $500,000 purchase, your welcome tax in Montreal would be approximately $5,200.

3. Home Inspection

A professional pre-purchase inspection is not legally required in Quebec — but skipping it is one of the most costly mistakes a buyer can make. A thorough inspector will check the foundation, roof, plumbing, electrical, and insulation.

Budget $500 to $800 for a condo inspection, and $700 to $1,200 for a house. If the inspector finds issues, this cost pays for itself many times over in negotiating leverage.

4. Homeowner's Insurance

You'll need proof of homeowner's insurance at the notary table — it's a condition of your mortgage. Insurance for a typical Montreal condo runs $60 to $120 per month depending on the building, size, and your deductible.

Shop around. Rates vary significantly between providers, and bundling with your auto insurance often gets you a discount.

5. Mortgage Fees & CMHC Premium

If your down payment is less than 20% of the purchase price, you're required by federal law to purchase CMHC mortgage default insurance. This is added directly to your mortgage principal (you don't pay it upfront), but it's important to understand:

• 5% down: +4.00% CMHC premium on the insured amount
• 10% down: +3.10%
• 15% down: +2.80%

 

On a $500,000 purchase with 10% down ($50,000), your CMHC premium would be approximately $13,950 added to your mortgage.

6. Moving Costs & Small Extras

Don't forget the practical costs that stack up at the end: professional movers in Montreal typically charge $800 to $2,500 depending on distance and volume. Add Hydro-Québec and internet setup fees, new locks, and any immediate repairs, and budget an extra $1,000 to $3,000 for the transition.

Quick Summary: What to Budget

Cost Item	Low Estimate	High Estimate
Notary fees	$1,200	$1,800
Welcome tax (on $500K)	$4,500	$5,500
Home inspection	$500	$1,200
Homeowner's insurance (year 1)	$720	$1,440
Moving costs	$800	$2,500
Miscellaneous	$500	$1,500
Total (excl. CMHC)	$8,220	$13,940

 

Final Thoughts

Buying a property in Montreal is one of the best financial decisions you can make — but it pays to go in with eyes wide open. Knowing these costs upfront means no unpleasant surprises, stronger negotiating power, and a smoother closing.

Have questions about what to expect in your specific situation? I offer free, no-obligation consultations to help you plan your purchase with confidence.

Book your free consultation → calendly.com/emmanuelkhoury | (514) 813-6268