First-time buyer · Montreal
The biggest purchase of your life, in Quebec's most expensive city. Here is the path in order, the programs to stack and the boroughs where a first budget becomes a home.
Buying a first home in Montreal in 2026 remains possible if you target the right boroughs and stack the programs. On price, the island's single-family median is $817,500, but Rivière-des-Prairies ($583,250), Anjou ($625,125) and Mercier-Hochelaga-Maisonneuve ($628,000) stay under $650,000, and condos run from $345,000 in Rivière-des-Prairies to $600,000 on the Plateau. On help, a first-time buyer stacks the FHSA ($8,000 a year, $40,000 lifetime, deductible), the HBP (up to $60,000 from the RRSP), Quebec's welcome tax refund (up to $5,875 since 2026), the federal and provincial tax credits (about $2,900 together), the 30-year amortization and the eliminated GST on a new home up to one million. The path: real budget, programs, pre-approval, then the choice of borough. Since Finances Québec's Information Bulletin 2026-2 (April 2026), this credit is reduced by 2.35 % of the portion of the price above $750,000 and disappears at $1,000,000: $4,700 at $800,000, $2,350 at $900,000.
The minimum down payment is 5% up to $500,000 and 10% on the portion between $500,000 and $1.5 million; the 20% threshold only starts at $1.5 million since December 15, 2024. But a first purchase budget also includes the welcome tax (payable a few months after the purchase, and particularly heavy in Montreal), notary fees, the inspection, tax adjustments and, under 20% down, the insurance premium and the 9% tax on that premium, payable in cash. The stress test requires qualifying at the higher of your rate plus 2 points and 5.25%. Details in mortgage pre-approval and notary fees.
The FHSA: $8,000 a year, $40,000 lifetime, deductible at contribution, tax-free withdrawal, never repaid. The HBP: up to $60,000 withdrawn from the RRSP, repayable over 15 years; both combine. The welcome tax refund: up to $5,875 for a first-time buyer since January 1, 2026. The federal and Quebec first-time home buyers' tax credits, about $2,900 together. The 30-year amortization for first-time buyers on insured loans. The eliminated GST on a new home up to one million. And in Montreal, a partial refund of transfer duties for certain eligible first-time buyers. Full list: first-time buyer programs in Quebec 2026.
It sets the real range and holds a rate for 90 to 120 days. In boroughs with 31-day delays, an offer without a pre-approval weighs nothing against a firm one.
| Budget | Single-family home | Condo |
|---|---|---|
| Under $450,000 | Out of reach on the island | Rivière-des-Prairies ($345,000), Anjou ($381,000), Lachine ($403,500), Mercier-Hochelaga-Maisonneuve ($428,250), LaSalle ($449,000) |
| $450,000 to $650,000 | Rivière-des-Prairies ($583,250), Anjou ($625,125), Mercier-Hochelaga-Maisonneuve ($628,000) | Villeray ($479,000), Saint-Laurent ($482,289), Rosemont ($560,000), Verdun ($575,000), Plateau ($600,000) |
| $650,000 to $900,000 | LaSalle ($711,250), Lachine ($722,500), Villeray ($736,500), Saint-Laurent ($890,937) | Outremont ($770,000) |
| Over $900,000 | Rosemont ($1,138,000), Verdun ($1,250,000), Plateau ($1,437,562) | Westmount (about $1,296,000) |
Medians from Centris compilations, second quarter of 2026 or last four quarters. The east of the island offers both the softest prices and the shortest delays (31 to 32 days): first-time buyers understood it before the statistics did.
Financing and inspection are the two non-negotiable conditions of a first offer to purchase, each with a one- to two-week deadline. Removing the inspection to please the seller is buying without a net. And if the budget does not fit on the island, the same path applies in the suburbs: our South Shore guide shows where $550,000 buys a detached house.
It depends on the price, the down payment and debts: with the stress test at a 5.25% minimum, a $450,000 condo with 5% down generally requires a household income around $100,000. The pre-approval gives your exact number.
Rivière-des-Prairies–Pointe-aux-Trembles, with a single-family home at $583,250 and a condo at $345,000 in the second quarter of 2026, followed by Anjou and Mercier-Hochelaga-Maisonneuve.
Yes, on the same purchase: up to $40,000 of FHSA plus growth and $60,000 of HBP per person, double for a couple.
Also available in French: version française de ce guide.
Published September 1, 2026 by the Loaa & Manseur team, the number 1 team at RE/MAX Platine in 2024 and 2025, 6th RE/MAX team in Quebec, 15th in Canada and in the global top 50 according to the official RE/MAX ranking. Tell us about your project.
Équipe no 1 de RE/MAX Platine en 2024 et en 2025, 6e au Québec, 15e au Canada et dans le top 50 mondial au classement officiel RE/MAX. Réponse en moins de 24 heures, sept jours sur sept.