Buying · Villeray, Saint-Michel and Parc-Extension · condo 2026
The cash needed to buy the median condo in Villeray, Saint-Michel and Parc-Extension in 2026: minimum down payment, welcome tax, QST on the premium, notary and inspection, then the median house in the same area.
To buy the median condo in Villeray, Saint-Michel and Parc-Extension ($478,500 from January 1 to September 16, 2026), plan for $32,849 to $34,949 in cash with the minimum down payment: $23,925 of down payment (5% of the price), $5,288 of welcome tax on Montreal's schedule, $1,636 of QST on the CMHC premium and $2,000 to $4,100 for the notary, inspection and appraisal. A first-time buyer then gets back up to $5,072 with Québec's credit, bringing the bill to about $28,827. That is about 54% of the cash needed for the median house in the same area ($62,716). Assumptions: Centris median price of condos sold from January 1 to September 16, 2026, federal minimum down payment (5% of the first $500,000, 10% of the rest, 20% from $1.5M), CMHC premium added to the loan, 9% QST on the premium (paid in cash), welcome tax with the city's 2026 schedule (the same for every borough or sector of a city), 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 on November 11, 2026.
The short answer
To buy the median condo in Villeray, Saint-Michel and Parc-Extension ($478,500 from January 1 to September 16, 2026), plan for $32,849 to $34,949 in cash with the minimum down payment: $23,925 of down payment (5% of the price), $5,288 of welcome tax on Montreal's schedule, $1,636 of QST on the CMHC premium and $2,000 to $4,100 for the notary, inspection and appraisal. A first-time buyer then gets back up to $5,072 with Québec's credit, bringing the bill to about $28,827. That is about 54% of the cash needed for the median house in the same area ($62,716).
The cash in Villeray, Saint-Michel and Parc-Extension, item by item
| Median condo in Villeray, Saint-Michel and Parc-Extension, $478,500 | Amount |
|---|---|
| Minimum down payment | $23,925 |
| Welcome tax (Montreal schedule) | $5,288 |
| QST on the CMHC premium ($18,183 added to the loan) | $1,636 |
| Notary | $1,500 to $2,800 |
| Inspection | $500 to $800 |
| Appraisal | $0 to $500 |
| Total to plan for | $32,849 to $34,949 |
| First-time buyer credit (recovered after) | $5,072 |
Centris (Matrix) median price, from January 1 to September 16, 2026; Montreal's 2026 welcome tax schedule.
Condo, 20% or house in Villeray, Saint-Michel and Parc-Extension
| In Villeray, Saint-Michel and Parc-Extension | Median price | Cash (middle of the range) |
|---|---|---|
| Condo, minimum down payment | $478,500 | $33,899 |
| Condo, 20% down payment | $478,500 | $104,038 |
| House, minimum down payment | $719,950 | $62,716 |
What these numbers say in Villeray, Saint-Michel and Parc-Extension
- A full FHSA ($40,000) covers all the cash for the median condo in Villeray, Saint-Michel and Parc-Extension on its own, with about $5,051 to spare even at the top of the range.
- The down payment makes up 71% of the cash and the welcome tax 16%. The first-time buyer credit is claimed after the purchase: the money must be there at the start.
- With 20% down, you would need about $104,038: the minimum down payment lets you buy with about 33% of that amount, at the cost of the CMHC premium.
- In Villeray, Saint-Michel and Parc-Extension, the cash needed ranks 32nd of 40, from lowest to highest. The median across the 40 boroughs and sectors is about $30,205.
What it changes for buying in Villeray, Saint-Michel and Parc-Extension
In Villeray, Saint-Michel and Parc-Extension, the cash for a condo is among the highest of the 40 areas, but it stays well below the house. An FHSA, the HBP if needed and a pre-approval that confirms the amount: now is the time to put numbers on your file. For the income needed: the salary to buy a condo in Villeray, Saint-Michel and Parc-Extension.
How to read these numbers
Assumptions: Centris median price of condos sold from January 1 to September 16, 2026, federal minimum down payment (5% of the first $500,000, 10% of the rest, 20% from $1.5M), CMHC premium added to the loan, 9% QST on the premium (paid in cash), welcome tax with the city's 2026 schedule (the same for every borough or sector of a city), notary $1,500 to $2,800 for a condo, inspection $500 to $800, appraisal $0 to $500 depending on the lender. The cash is calculated on the median price; a condo below the median needs less, and the welcome tax follows the price. Adjustments paid back to the seller (prepaid taxes, the current month's condo fees), co-owner insurance, moving 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 Villeray, Saint-Michel and Parc-Extension?
$32,849 to $34,949 for the median condo ($478,500), with the minimum down payment of $23,925.
Is the FHSA enough to buy a condo in Villeray, Saint-Michel and Parc-Extension?
Yes, if the FHSA is full: $40,000 covers all the cash for the median condo in Villeray, Saint-Michel and Parc-Extension.
When do you pay the welcome tax?
The City of Montreal bills it a few weeks after the purchase, with the same schedule for all its boroughs or sectors: $5,288 on the median condo in Villeray, Saint-Michel and Parc-Extension. An eligible first-time buyer gets back $5,072 with Québec's credit.
Sources: Centris (Matrix), Statistics module, median sale price of condos and single-family houses for Villeray, Saint-Michel and Parc-Extension (from January 1 to September 16, 2026); Montreal's 2026 property transfer duty schedule; federal minimum down payment rules and CMHC premium schedule; Québec first-time buyer credit; compiled by the Loaa & Manseur team, aggregates only. The hub how much cash to buy a condo in 40 boroughs and sectors compares the 40 areas.
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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.