What does buying a home really cost? The Quebec closing costs calculator

The purchase price isn't the only cheque you'll write. Between the day your offer is accepted and your first few weeks in the new place, a series of fees piles up — and most of them are paid in cash, on top of your down payment. These are the so-called hidden costs of buying a home: they aren't really hidden, but buyers often discover them too late.

What each line of the calculator covers

Welcome tax (property transfer duties)

Paid to the municipality, the welcome tax is calculated bracket by bracket on the purchase price (or on the municipal assessment if it's higher). In Montreal, extra brackets apply above $552,300. The bill arrives a few weeks after closing and is usually payable within 30 days. See the bracket-by-bracket calculation and examples →

Tax on the mortgage loan insurance premium

With less than 20% down, your mortgage must be insured. The premium (up to 4% of the loan) is added to your mortgage, but the provincial tax on that premium is paid in cash at the notary and can't be financed. The rate is 9%, rising to 9.975% for premiums paid after December 31, 2026 — if you're closing in 2027, pick that option in the calculator. Understand the minimum down payment →

Notary, inspection, appraisal and title insurance

In Quebec, the notary handles the closing: they prepare the deed of sale and the hypothec (mortgage) deed — budget roughly $1,500 to $3,000. A pre-purchase inspection typically costs $500 to $900 for a house. The appraisal required by the lender is often paid by the lender, and title insurance is optional — which is why both lines are set to zero by default. See realistic price ranges →

Tax and charge adjustments

If the seller has already paid this year's municipal or school taxes, you reimburse them for the period after you take possession. The notary works this out to the day; the exact amount appears on their statement of adjustments a few days before closing. How adjustments work →

Moving, utility hookups and first purchases

A truck or movers, new locks, opening your electricity and internet accounts, curtains, tools: these expenses all land in the same month. The default amounts are only starting points — adjust them to your situation. Plan for the first 12 months →

If you're buying a condo

Condo fees are also part of the adjustments, and the state of the contingency fund can signal special assessments ahead. That's not a closing cost, but it is a cost to evaluate before you buy. What the syndicate's numbers reveal →

Money back later: the access-to-property tax credit

For a home acquired since 2026, Quebec's refundable access-to-property tax credit reimburses first-time buyers for the first $5,000 of welcome tax paid in full, plus 25% of the next $3,500, up to $5,875. The catch: you must first have paid the tax in full. So this amount doesn't reduce the cash you need on closing day. Eligibility and the advance payment →

Example: $500,000 in Montreal with 5% down

Here's the breakdown the calculator shows by default: closing in 2026, 25-year amortization, notary and inspection at the midpoint of their typical range.

The insurance premium itself ($19,000) isn't in this total: it's added to the mortgage. If the closing took place in 2027, the tax on the premium would rise to $1,895.

The most common pitfalls

• Confusing the down payment with total cash. The lender checks that you have the down payment, but closing costs come on top of it.
• Forgetting the tax on the premium. It isn't added to the loan: it's cash you hand to the notary.
• Counting the tax credit as available money. It's paid after the welcome tax has been paid in full, not before closing.
• Draining your cushion. Once the fees are paid, keep a separate reserve fund for the surprises of the first few months.

Official sources: City of Montreal — property transfer duties (in French), Revenu Québec — access-to-property tax credit (in French).

Frequently asked questions