Buying · Magog · condo cash 2026
All the money needed to buy the median condo in Magog in 2026: down payment, tax on the CMHC premium, welcome tax, notary, inspection, with the 20% scenario, the house and 2016 for comparison.
To buy the median condo in Magog, sold for $335,000 from January to September 2026, plan for $23,031 to $25,131 in cash. The big piece is the minimum down payment (5% of the price): $16,750. Add $3,136 of welcome tax (Magog's 2026 grid), $1,146 of Québec tax on the $12,730 CMHC premium (the premium goes into the loan, the tax is paid in cash) and $2,000 to $4,100 for the notary, inspection and appraisal. A first-time buyer then recovers the full welcome tax through Québec's credit, which brings the bill down to about $20,946. That is 50% of the cash the median house in Magog takes ($47,694 at the middle of the range). In 2016, the minimum down payment, premium tax and welcome tax on the median condo ($158,000) added up to $9,706; in 2026, $21,031 (+117%). Assumptions: Centris median price of condos sold (January to September 2026), federal minimum down payment (5% of the first $500,000, 10% of the rest, 20% from $1.5M), CMHC premium on the schedule in force since 2017 (added to the loan), Québec's 9% tax on the premium (paid in cash), welcome tax on the city's 2026 grid, notary $1,500 to $2,800 for a condo, inspection $500 to $800, appraisal $0 to $500 depending on the lender. Source: Centris (Matrix) for prices, compiled October 30, 2026.
The short answer
To buy the median condo in Magog, sold for $335,000 from January to September 2026, plan for $23,031 to $25,131 in cash. The big piece is the minimum down payment (5% of the price): $16,750. Add $3,136 of welcome tax (Magog's 2026 grid), $1,146 of Québec tax on the $12,730 CMHC premium (the premium goes into the loan, the tax is paid in cash) and $2,000 to $4,100 for the notary, inspection and appraisal. A first-time buyer then recovers the full welcome tax through Québec's credit, which brings the bill down to about $20,946. That is 50% of the cash the median house in Magog takes ($47,694 at the middle of the range). In 2016, the minimum down payment, premium tax and welcome tax on the median condo ($158,000) added up to $9,706; in 2026, $21,031 (+117%).
The cash to plan for a condo in Magog, item by item
| 2026 in Magog | Condo, minimum down | Condo, 20% down | House, minimum down |
|---|---|---|---|
| Median price | $335,000 | $335,000 | $600,000 |
| Down payment | $16,750 | $67,000 | $35,000 |
| CMHC premium (added to the loan) | $12,730 | none | $22,600 |
| 9% Québec tax on the premium (cash) | $1,146 | $0 | $2,034 |
| Welcome tax | $3,135.50 | $3,135.50 | $7,110.50 |
| Notary | $1,500 to $2,800 | $1,500 to $2,800 | $1,800 to $3,500 |
| Pre-purchase inspection | $500 to $800 | $500 to $800 | $500 to $800 |
| Appraisal (if the lender charges it) | $0 to $500 | $0 to $500 | $0 to $500 |
| Total to plan for | $23,031 to $25,131 | $72,136 to $74,236 | $46,444 to $48,944 |
| First-time buyer credit (recovered after) | $3,136 | $3,136 | $5,528 |
Centris (Matrix) median prices, January to September 2026. Notary, inspection and appraisal ranges are 2026 market ranges (see notary fees).
From 2016 to 2026 in Magog
| Year | Median condo | Minimum down payment | Tax on the premium | Welcome tax (2026 grid) | Total before fixed costs |
|---|---|---|---|---|---|
| 2016 | $158,000 | $7,900 | $540 | $1,266 | $9,706 |
| 2017 | $151,000 | $7,550 | $516 | $1,196 | $9,262 |
| 2018 | $172,000 | $8,600 | $588 | $1,406 | $10,594 |
| 2019 | $173,250 | $8,662 | $593 | $1,418 | $10,673 |
| 2020 | $210,000 | $10,500 | $718 | $1,786 | $13,004 |
| 2021 | $239,950 | $11,998 | $821 | $2,085 | $14,904 |
| 2022 | $309,000 | $15,450 | $1,057 | $2,776 | $19,282 |
| 2023 | $320,750 | $16,038 | $1,097 | $2,922 | $20,057 |
| 2024 | $320,000 | $16,000 | $1,094 | $2,910 | $20,005 |
| 2025 | $345,000 | $17,250 | $1,180 | $3,286 | $21,715 |
| 2026 | $335,000 | $16,750 | $1,146 | $3,136 | $21,031 |
What these numbers say in Magog
- On $24,081 at the middle of the range, the down payment is 70%, the welcome tax 13% and the rest (premium tax, notary, inspection, appraisal) 17%.
- A full FHSA ($40,000) covers all the cash for the median condo in Magog on its own, with about $14,869 to spare even at the top of the range. No need to touch the HBP.
- The condo takes about $23,613 less cash than the median house in Magog ($46,444 to $48,944).
- With 20% down to avoid the CMHC premium, it takes $72,136 to $74,236 instead, $49,105 more: the premium has a cost, but the minimum down payment lets you buy years sooner.
- The first-time buyer credit covers the full welcome tax on the median condo in Magog, but it is claimed after the purchase: the money has to be there at the start.
- Across the 40 cities tracked, the median condo ($397,000) takes a median $27,273 to $29,373 in cash in 2026, 56% of what the house takes. The down payment, premium tax and welcome tax part has at least doubled since 2016 in 29 of 40 cities.
What it changes for buying a condo in Magog
In Magog, the cash for a condo is among the lowest of the 40 cities tracked: a well-filled FHSA is usually enough, without touching the HBP. Now is the time to buy if you have that amount set aside: the choice is there, and every year of waiting is paid in rent that builds nothing. Next steps: condo fees in Magog, the condo mortgage payment in Magog and the cash for a house in Magog.
How to read these numbers
Assumptions: Centris median price of condos sold (January to September 2026), federal minimum down payment (5% of the first $500,000, 10% of the rest, 20% from $1.5M), CMHC premium on the schedule in force since 2017 (added to the loan), Québec's 9% tax on the premium (paid in cash), welcome tax on the city's 2026 grid, notary $1,500 to $2,800 for a condo, inspection $500 to $800, appraisal $0 to $500 depending on the lender. The calculated items (down payment, premium tax, welcome tax) follow the median price; fixed costs are 2026 ranges, hence a total as a range. The 2016 comparison covers the calculated part only, at a constant 2026 grid. Adjustments repaid to the seller (prepaid municipal and school taxes, the current month's condo fees), co-owner insurance, moving costs and a few months of condo fees set aside come on top depending on the file.
Frequently asked questions
How much cash do you need to buy a condo in Magog in 2026?
$23,031 to $25,131 for the median condo ($335,000) in 2026: $16,750 of down payment, $1,146 of tax on the CMHC premium, $3,136 of welcome tax and $2,000 to $4,100 for the notary, inspection and appraisal.
Is the FHSA enough to buy a condo in Magog?
Yes, if it is full: $40,000 covers all the cash for the median condo in Magog.
When is the welcome tax paid on a condo in Magog?
Magog bills it a few weeks after the purchase, but you need it set aside: $3,135.50 on the median condo. An eligible first-time buyer recovers $3,136 through Québec's credit, to be claimed within 18 months.
Sources: Centris (Matrix), Statistics module, query of September 16, 2026 for the municipality of Magog, median sale price of condos and single-family houses by year; federal minimum down payment rules; CMHC premium schedule; Magog's 2026 transfer duty grid; compiled by the Loaa & Manseur team, aggregates only. The hub how much cash to buy a condo in 40 cities compares the 40 cities.
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Also available in French: version française de ce guide.
Published September 7, 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.