Buying · Montreal · condo cash 2026
All the money needed to buy the median condo in Montreal 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 Montreal, sold for $476,100 from January to September 2026, plan for $32,685 to $34,785 in cash. The big piece is the minimum down payment (5% of the price): $23,805. Add $5,252 of welcome tax (Montreal's 2026 grid), $1,628 of Québec tax on the $18,092 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 up to $5,063 through Québec's credit, which brings the bill down to about $28,672. That is 50% of the cash the median house in Montreal takes ($67,035 at the middle of the range). In 2016, the minimum down payment, premium tax and welcome tax on the median condo ($285,000) added up to $17,760; in 2026, $30,685 (+73%). 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 Montreal, sold for $476,100 from January to September 2026, plan for $32,685 to $34,785 in cash. The big piece is the minimum down payment (5% of the price): $23,805. Add $5,252 of welcome tax (Montreal's 2026 grid), $1,628 of Québec tax on the $18,092 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 up to $5,063 through Québec's credit, which brings the bill down to about $28,672. That is 50% of the cash the median house in Montreal takes ($67,035 at the middle of the range). In 2016, the minimum down payment, premium tax and welcome tax on the median condo ($285,000) added up to $17,760; in 2026, $30,685 (+73%).
The cash to plan for a condo in Montreal, item by item
| 2026 in Montreal | Condo, minimum down | Condo, 20% down | House, minimum down |
|---|---|---|---|
| Median price | $476,100 | $476,100 | $755,000 |
| Down payment | $23,805 | $95,220 | $50,500 |
| CMHC premium (added to the loan) | $18,092 | none | $28,180 |
| 9% Québec tax on the premium (cash) | $1,628 | $0 | $2,536 |
| Welcome tax | $5,252.00 | $5,252.00 | $10,449.00 |
| 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 | $32,685 to $34,785 | $102,472 to $104,572 | $65,785 to $68,285 |
| First-time buyer credit (recovered after) | $5,063 | $5,063 | $5,758 |
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 Montreal
| Year | Median condo | Minimum down payment | Tax on the premium | Welcome tax (2026 grid) | Total before fixed costs |
|---|---|---|---|---|---|
| 2016 | $285,000 | $14,250 | $975 | $2,536 | $17,760 |
| 2017 | $295,000 | $14,750 | $1,009 | $2,636 | $18,394 |
| 2018 | $310,000 | $15,500 | $1,060 | $2,786 | $19,346 |
| 2019 | $340,000 | $17,000 | $1,163 | $3,210 | $21,373 |
| 2020 | $387,000 | $19,350 | $1,324 | $3,916 | $24,589 |
| 2021 | $416,375 | $20,819 | $1,424 | $4,356 | $26,599 |
| 2022 | $444,000 | $22,200 | $1,518 | $4,770 | $28,489 |
| 2023 | $440,000 | $22,000 | $1,505 | $4,710 | $28,215 |
| 2024 | $460,000 | $23,000 | $1,573 | $5,010 | $29,584 |
| 2025 | $475,000 | $23,750 | $1,624 | $5,236 | $30,610 |
| 2026 | $476,100 | $23,805 | $1,628 | $5,252 | $30,685 |
What these numbers say in Montreal
- On $33,735 at the middle of the range, the down payment is 71%, the welcome tax 16% and the rest (premium tax, notary, inspection, appraisal) 13%.
- A full FHSA ($40,000) covers all the cash for the median condo in Montreal on its own, with about $5,215 to spare even at the top of the range. No need to touch the HBP.
- The condo takes about $33,300 less cash than the median house in Montreal ($65,785 to $68,285).
- With 20% down to avoid the CMHC premium, it takes $102,472 to $104,572 instead, $69,787 more: the premium has a cost, but the minimum down payment lets you buy years sooner.
- The first-time buyer credit covers $5,063 of the $5,252 tax on the median condo in Montreal, 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 Montreal
In Montreal, the cash for a condo is among the highest of the 40 cities tracked, but it stays well below the house. For a first purchase it is often the shortest way in: an FHSA, the HBP if needed and a pre-approval that confirms the amount. The condo market leaves choice and room to negotiate: now is the time to price your file. Next steps: condo fees in Montreal, the condo mortgage payment in Montreal and the cash for a house in Montreal.
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. For 2016, we compare the down payment, premium tax and welcome tax, with the city's 2026 tax grid on both years. 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 Montreal in 2026?
$32,685 to $34,785 for the median condo ($476,100) in 2026: $23,805 of down payment, $1,628 of tax on the CMHC premium, $5,252 of welcome tax and $2,000 to $4,100 for the notary, inspection and appraisal.
Is the FHSA enough to buy a condo in Montreal?
Yes, if it is full: $40,000 covers all the cash for the median condo in Montreal.
When is the welcome tax paid on a condo in Montreal?
Montreal bills it a few weeks after the purchase, but you need it set aside: $5,252.00 on the median condo. An eligible first-time buyer recovers $5,063 through Québec's credit, to be claimed within 18 months.
Sources: Centris (Matrix), Statistics module, query of September 16, 2026 for the municipality of Montreal, median sale price of condos and single-family houses by year; federal minimum down payment rules; CMHC premium schedule; Montreal'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.
Our proof, not our promises
The Loaa & Manseur team, led by Lotfi Manseur and Loaa Al Daow, is 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 of large residential teams according to the official RE/MAX ranking, computed on actual transactions. Its Google profile counts more than 220 reviews with a 4.9 rating. Its offices are at 55 avenue de l'Équinoxe in Brossard, one bridge from the island, and every broker's licence can be checked in the OACIQ public register. Three things to verify yourself before calling us, and to demand of any other broker.
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.