Closing Costs When Buying a Home in Montreal
Major Closing Costs for Montreal Buyers
The biggest closing costs in Montreal are the welcome tax (taxe de bienvenue) and notary fees. For a $420,000 condo, the welcome tax is approximately $4,725. Notary fees run $1,500–$2,500 and cover the deed of sale, title examination, registration of the mortgage, and various certificates. Unlike Ontario and BC, Quebec does not charge a land transfer tax on top of the welcome tax — they're the same thing.
Home inspection costs $500–$800 for a condo, $600–$1,000 for a house. This is paid before closing, typically during the conditional offer period. If you're buying with less than 20% down, CMHC mortgage insurance is mandatory and adds 2.8–4.0% to your mortgage amount — on a $400,000 mortgage with 10% down, that's roughly $11,200 added to your loan.
Expenses Most Buyers Forget
Property tax adjustments catch many buyers by surprise. If the seller has pre-paid property taxes for the year, you'll reimburse them for the portion covering your ownership period. On a $420,000 property with $4,000 annual taxes, a July closing means you owe the seller roughly $2,000 at the notary's office. Similarly, condo fee adjustments may apply.
Title insurance ($250–$400) is optional in Quebec but increasingly recommended. It protects against title defects, survey issues, and certain liens not caught during the title search. Moving costs are another line item buyers overlook when calculating their total cash needed — budget $500–$2,000 depending on your apartment size and distance.
Total Closing Cost Estimate by Property Price
For a $350,000 property: expect $7,500–$10,000 in closing costs (welcome tax ~$3,475, notary ~$1,800, inspection ~$600, insurance adjustments, and moving). For $500,000: plan for $10,000–$14,000. For $750,000: budget $14,000–$18,000. These estimates exclude mortgage insurance premiums, which apply if your down payment is under 20%.
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The key takeaway: don't drain your savings to maximize your down payment. Keep a buffer of at least $10,000–$15,000 beyond closing costs for immediate home expenses — new locks, cleaning, minor repairs, and the inevitable hardware store runs. And for the moving itself, Up & Out provides upfront flat-rate pricing so there are no surprises on move day.
