Most first-time buyers plan carefully for the down payment and underestimate everything else. On a $425,000 condo with 5% down, closing costs in Montreal typically add about $10,000 to $15,000 in cash, before adjustments. Some of that may come back later, but you need it on hand first.
Below is each line, what it pays for, and when it is due.
The line items
Assumptions: $425,000 condo on the Island of Montreal, 5% down ($21,250), insured mortgage, first-time buyer, condo fees of $350 a month.
| Line item | Typical amount | When you pay | Notes |
|---|---|---|---|
| Welcome tax (transfer duties) | $4,485.50 | City bill, due within 30 days of billing | An eligible first-time buyer may get it back through the Quebec credit, but it must be paid first |
| Sales tax on CMHC premium | about $1,526 | At the notary | 9% on the insurance premium; cannot be added to the mortgage |
| Notary fees and disbursements | about $1,800 to $3,500 | At the notary | Includes deed of sale, mortgage deed, registry searches, publication and taxes. No fixed tariff |
| Pre-purchase inspection | about $520 to $750 | Before the inspection condition expires | Condo range, taxes included |
| Tax and condo fee adjustments | varies | At the notary | Can be a cost or a credit; see below |
| Syndicate attestation fee | Varies by syndicate | Usually seller's side | Some syndicates charge; see below |
| Unit owner insurance | about $60 a month or $700 a year | Before closing | Lender asks for proof before signing |
| Title insurance (optional) | about $200 to $400 | At the notary | One-time premium |
| Certificate of location | usually $0 to the buyer | Seller's cost | See below |
| Moving | about $500 to $900 | Moving day | 3½ or 4½, local move |
| First month of condo fees | $350 | First of the month after closing | Set up payment with the syndicate |
| Contingency buffer | $1,000 to $2,000 | Keep available | Small repairs, locks, paint, appliances |
Estimated total: about $10,200 to $14,600, plus adjustments. That is roughly 2.4% to 3.4% of the price.
The down payment is separate. At 5% down you need $21,250 for the down payment on top of these costs, so total cash needed is roughly $31,500 to $35,900, plus adjustments.
The welcome tax: pay first, recover later
Montreal's transfer duties on a $425,000 purchase are $4,485.50. Since 2026, Quebec has a refundable credit that covers 100% of the first $5,000 of duties for eligible first-time buyers. At this price, an eligible buyer may recover the full amount. For another price or another city on the island, use the welcome tax calculator.
The timing matters. The city bills you after closing and expects payment within 30 days. The credit comes later, by advance payment request or through your tax return. Budget the full amount.
PST on the CMHC premium
With less than 20% down, your mortgage must be insured. At 5% down the premium is 4.00% of the loan, and first-time buyers who choose a 30-year amortization pay an extra 0.20%. The premium itself is added to the mortgage. Quebec's 9% sales tax on that premium is not. You pay it in cash at the notary, about $1,526 in this scenario.
Notary fees
In Quebec, a notary handles the deed of sale and the mortgage deed. The Chambre des notaires does not set a price list: fees depend on the time and complexity of the file, and the notary must give you an estimate in advance. Ask for a written quote that shows fees, disbursements and taxes separately.
Adjustments: prorating taxes and condo fees
The notary splits recurring costs between you and the seller according to the closing date.
- Municipal taxes cover the calendar year. If the seller has already paid the full year, you reimburse the days from your closing date to December 31.
- School taxes on the Island of Montreal cover July 1 to June 30. The same logic applies.
- Condo fees are prorated for the month of closing if the seller has paid the full month.
Example: if annual property taxes are $3,000 and the seller paid the full year, closing on October 31 means you reimburse about two months, or roughly $500. If the seller has not paid yet, the adjustment can work in your favour.
Special assessments and the syndicate attestation
Before you commit, check whether the syndicat de copropriété has voted, or is considering, a special assessment. Since August 14, 2025, the seller must provide an attestation from the syndicate on the state of the co-ownership, which covers items such as the contingency fund and planned work. The syndicate has 15 days to issue it. The regulation does not set a fee, and some syndicates charge one. Read the attestation, the minutes and the contingency fund study with your broker before your conditions expire.
Certificate of location
For a divided co-ownership condo, the seller is normally responsible for providing a certificate of location. It often covers only the private portion rather than the whole building. If the existing one is outdated, the seller usually pays for a new one. Your notary will review it.
Common questions
Can I add closing costs to my mortgage?
In most cases, no. The CMHC premium can be added; the sales tax on it and the other closing costs are paid in cash.
Does the welcome tax credit reduce what I need at closing?
No. You pay the city first and claim the credit afterwards.
Is title insurance required?
It is optional for the buyer in most cases, though some lenders ask about it. Ask your notary whether it makes sense for your file.
Who chooses the notary?
In Quebec, the buyer usually chooses the notary. Get two quotes.
How much should I keep aside after closing?
Keep a buffer of $1,000 to $2,000 for the first weeks. Condo owners also face their share of any future special assessment.
Want every number on one page?
The first-time homebuyer kit includes a closing cost worksheet you can fill in for your own purchase.
Download the first-time homebuyer kit
Prefer to go over your numbers together? Book a 30-minute buyer call
Related guides
Delaram Farzin, Residential Real Estate Broker (Courtière immobilière résidentielle), Groupe Sutton Centre-Ouest, real estate agency. This page is general information, not legal, tax or financial advice.
Sources: Ville de Montréal (1) · Ville de Montréal (2) · Revenu Québec · Chambre des notaires du Québec · OACIQ · CGTSIM
