How Much House Can I Afford in Quebec? (2026)

How much house can I afford in Quebec?

Quebec requires a notary (not a lawyer) for all real estate transactions — fees are typically regulated and similar to legal fees in other provinces. Quebec's 9% QST applies to the CMHC premium in cash at closing. Hydro-Québec makes electricity the cheapest in Canada (~$95/mo), and most Quebec homes use electric heat — no separate gas heating bill. Use the calculator above — it pre-fills Quebec-specific property tax and utility defaults. Always stress-test at your contract rate + 2% (minimum 5.25% OSFI floor). Verify all figures with a licensed mortgage professional.

What are the closing costs in Quebec?

Quebec charges a Welcome Tax (Bienvenue Tax / Droits de mutation) on a marginal schedule: 0.5% on first $58,900; 1.0% on $58,901–$294,600; 1.5% on $294,601–$552,300; 2.0% on $552,301–$1,107,300; 2.5% over $1,107,300 (2026 thresholds — verify with your notary). Quebec has no provincial first-time-buyer LTT rebate. Some municipalities offer programs — check with your municipality. Federal FHSA and HBP apply. Beyond land transfer tax: legal/notary fees (~$1,200–$2,500), title insurance (~$250–$600), home inspection (~$400–$700), and property-tax/utility adjustments.

What is the Welcome Tax in Quebec?

Quebec's Welcome Tax (droits de mutation) is a provincial real estate transfer tax paid to the municipality within 30–60 days of closing. On a $700,000 property in Montréal: 0.5% × $58,900 + 1.0% × $235,700 + 1.5% × $257,700 + 2.0% × $147,700 = roughly $8,700. Verify the current thresholds with your notary.

Why is electricity so cheap in Quebec?

Hydro-Québec's large hydroelectric generating capacity — most of it amortized over decades — gives Quebec the cheapest electricity in Canada at roughly $95/mo for 1,000 kWh including tax. Quebec homes typically use electric baseboard or heat-pump heat, which is already captured in the electricity estimate — there is no separate gas heating bill.