First-Time Home Buyer Guide Quebec 2025

Everything a Quebec First-Time Buyer Needs to Know

From saving your down payment to claiming rebates — your complete Quebec first home guide.

1. Quebec Land Transfer Tax Key Cost

Quebec Welcome Tax (taxe de bienvenue) — no first-time buyer rebate

Quebec does not offer a first-time buyer rebate on the Welcome Tax (taxe de bienvenue). The Welcome Tax applies to all property purchases at rates up to 3.5% in Montreal. On a $590,000 Montreal home, the Welcome Tax is approximately $8,700. Quebec buyers rely primarily on federal programs for first-time buyer savings.

2. Federal First Home Savings Account (FHSA) Up to $40,000 Tax-Free

The FHSA is the most powerful savings tool for Quebec first-time buyers in 2025. Contribute up to $8,000/year with a $40,000 lifetime limit. All contributions are tax-deductible (saving you both federal AND Quebec provincial tax). All withdrawals for a qualifying first home purchase are completely tax-free — no repayment required unlike the RRSP HBP.

FHSA Math for Quebec Buyers:

$8,000 contribution at 40% combined marginal rate = $3,200 tax refund that year. Do this for 5 years and you've saved $40,000 + $16,000 in tax refunds = $56,000 total benefit. Hold the FHSA at EQ Bank (3.00%) to earn $1,200/year in tax-free interest on a $40K balance.

3. RRSP Home Buyers' Plan Up to $35,000

Withdraw up to $35,000 from your RRSP tax-free under the Home Buyers' Plan. Repay the amount over 15 years (1/15th per year). If you and a qualifying spouse/partner are both first-time buyers, you can each withdraw $35,000 for a combined $70,000 from two RRSPs. Unlike the FHSA, you need to repay the HBP amount to your RRSP over 15 years.

4. Combined FHSA + RRSP HBP Strategy Up to $75,000 Per Person

The most powerful Quebec first-time buyer strategy combines both accounts. A single buyer can access $40,000 from FHSA + $35,000 from RRSP HBP = $75,000 in tax-advantaged funds toward a down payment. A couple can access up to $150,000 combined. This strategy is particularly impactful for the $590,000 (Montreal average) average Quebec home — $75,000 can cover much of the 20% down payment goal.

Down Payment Summary for Typical Quebec Home ($590,000 (Montreal average)):

20% goal: $118,000 | FHSA contributes: up to $40,000 | RRSP HBP contributes: up to $35,000 | Combined: $75,000 covers a significant portion of or exceeds the 20% goal depending on home price.

5. Quebec-Specific Grants & Programs Provincial Programs

Société d'habitation du Québec (SHQ) homeownership programs, federal FHSA, RRSP HBP, and Accès Condos program in Montreal for new builds at reduced prices.

6. Best Savings Accounts for Quebec First-Time Buyers

While saving your down payment, every basis point of interest rate matters. The best accounts for Quebec first-time buyers are: (1) FHSA at EQ Bank — earn 3.00% while getting tax deductions; (2) TFSA at EQ Bank — earn 3.00% tax-free on contributions outside FHSA; (3) RRSP at EQ Bank — earn 3.00% and deduct contributions; (4) KOHO for everyday spending — earn up to 5% cashback to accelerate savings.

Your First Home Buying Timeline in Quebec

12–24 months before purchase: Open FHSAStart contributing to your FHSA immediately — every year counts for the $8,000 annual limit and tax deductions. Hold in EQ Bank 3.00% FHSA savings account.
12 months before: Check your credit scoreAim for 680+ to qualify for standard mortgage rates. KOHO's credit builder can help if you need to improve your score.
6 months before: Get mortgage pre-approvalContact 2–3 lenders and a mortgage broker to compare rates. Pre-approval locks in a rate for 90–120 days.
3 months before: Confirm your down payment sourcesEnsure FHSA and RRSP HBP funds are ready. Both require documentation for lender proof of down payment.
At purchase: Budget for closing costsBudget Quebec LTT + legal fees + inspection + title insurance. Keep $5,000–$25,000 liquid for closing in addition to down payment.
Post-purchase: Claim First Home Buyer Tax CreditClaim the $100 federal First Home Buyer's Tax Credit on your next T1 (generates $1,500 in federal tax savings).

First-Time Buyer Savings Breakdown — Quebec

Program	Maximum Benefit	Type	Repayment?
First Home Savings Account (FHSA)	$40,000 + tax deductions	Federal	No
RRSP Home Buyers' Plan	$35,000 per person	Federal	Yes (15 years)
First Home Buyer's Tax Credit	$1,500 federal tax savings	Federal	No
Quebec LTT Rebate/Savings	Varies by province	Provincial	No
KOHO $100 Bonus	$100 cash	Referral	No
Combined Potential Savings	$75,000–$150,000+

FAQ — First-Time Home Buyers in Quebec

Is there a Quebec first-time home buyer rebate on Welcome Tax?

No — Quebec does not offer a Welcome Tax (taxe de bienvenue) rebate for first-time buyers. All buyers pay the Welcome Tax. However, some Quebec municipalities offer programs for first-time buyers and new construction. The federal FHSA and RRSP HBP are the primary savings tools for Quebec first-timers.

What is the FHSA for Quebec residents?

The federal First Home Savings Account is available to all Quebec residents. Contribute up to $8,000/year ($40,000 lifetime). Contributions are deductible from both federal AND Quebec provincial income tax — at a combined marginal rate of 40%+, a $8,000 contribution saves $3,200+ in taxes that year.

What is the Accès Condos program in Montreal?

Accès Condos is a Montreal social housing program offering new condominiums at 10–15% below market value to qualifying buyers. Demand is high — applications are via lottery. Income limits apply. This is one of the best first-time buyer programs specific to Quebec/Montreal.

Do I need a notary to buy a home in Quebec?

Yes — Quebec requires a notary (notaire) for all real estate transactions. Your notary handles the deed of sale, mortgage registration, and title transfer. Notary fees typically range from $1,500–$2,500. In Quebec, you don't use a real estate lawyer — only notaries handle property transactions.

What is the Société d'habitation du Québec (SHQ)?

The SHQ is Quebec's social housing corporation that offers various programs for homebuyers including AccèsLogis (for affordable rentals), Rénovation Québec (renovation grants), and regional homeownership assistance programs. Check SHQ.qc.ca for programs in your region.