{"id":22549,"date":"2026-08-24T19:45:14","date_gmt":"2026-08-24T23:45:14","guid":{"rendered":"https:\/\/samuelj.ca\/?p=22549"},"modified":"2026-08-24T19:53:00","modified_gmt":"2026-08-24T23:53:00","slug":"first-home-buyers","status":"publish","type":"post","link":"https:\/\/samuelj.ca\/en\/blog\/real-estate-purchase\/first-home-buyers\/","title":{"rendered":"First-Time Home Buyers in Quebec: What&#8217;s Actually Changed (and Why It&#8217;s Good News) \ud83c\udfe1"},"content":{"rendered":"<article style=\"max-width: 780px; margin: 0 auto; font-family: Georgia, 'Times New Roman', serif; line-height: 1.7; color: #222; padding: 20px;\">\n<header>\n<p style=\"font-size: 1.1rem; color: #444; font-style: italic;\">Down payment rules, the Home Buyers&#8217; Plan, the FHSA, a new GST rebate, 30-year amortization\u2026 the picture for first-time buyers in Quebec looks nothing like it did five years ago. Here&#8217;s what you actually need to know before you jump in.<\/p>\n<\/header>\n<p>If you&#8217;re house-hunting for your first place right now, you&#8217;ve probably noticed something: the rules have shifted. The minimum down payment is still within reach, savings accounts built specifically for first-time buyers have multiplied, a brand-new tax rebate just kicked in, and 30-year amortization is now on the table for a lot of buyers. Meanwhile, the market itself is slowly tilting back in buyers&#8217; favour after years of bidding wars. There&#8217;s a lot to unpack, so let&#8217;s go through it in order. \ud83d\udc47<\/p>\n<nav style=\"background-color: #f7f7f7; border-left: 4px solid #2e7d32; padding: 18px 22px; margin: 28px 0; border-radius: 4px;\" aria-label=\"Table of contents\"><strong>In this article:<\/strong><\/p>\n<ul style=\"margin-top: 10px;\">\n<li><a href=\"#market\">The market is shifting: what it means for you<\/a><\/li>\n<li><a href=\"#profile\">Who&#8217;s the typical first-time buyer today?<\/a><\/li>\n<li><a href=\"#downpayment\">How much down payment do you actually need?<\/a><\/li>\n<li><a href=\"#hbpfhsa\">Home Buyers&#8217; Plan and FHSA: how much can you combine?<\/a><\/li>\n<li><a href=\"#gst\">The new GST rebate for first-time buyers<\/a><\/li>\n<li><a href=\"#amortization\">30-year amortization: good idea or not?<\/a><\/li>\n<li><a href=\"#opinion\">A broker&#8217;s honest take, from the field<\/a><\/li>\n<li><a href=\"#costs\">The closing costs people forget<\/a><\/li>\n<li><a href=\"#faq\">Frequently asked questions<\/a><\/li>\n<\/ul>\n<\/nav>\n<section id=\"market\">\n<h2>The market is shifting: what it means for you \ud83d\udd04<\/h2>\n<p>For a long time, first-time buyers in Quebec drew the short straw: multiple offers, bidding wars that added tens of thousands of dollars to the asking price, and barely any time to schedule an inspection. That reality hasn&#8217;t disappeared entirely, especially in the most sought-after neighbourhoods, but it&#8217;s clearly easing up.<\/p>\n<div style=\"background-color: #e8f5e9; border: 1px solid #a5d6a7; border-radius: 6px; padding: 18px 22px; margin: 22px 0;\"><strong>\ud83d\udcac Samuel Jacques, real estate broker, weighs in:<\/strong><\/p>\n<p style=\"margin-bottom: 0;\">In my view, the market is genuinely changing sides. Buyers are slowly regaining negotiating power after several years of extremely tight conditions. We&#8217;re not back to a full buyer&#8217;s market by any means, but the balance is no longer tilted entirely toward sellers.<\/p>\n<\/div>\n<p>In some regions, the number of active listings has grown considerably, which gives buyers more options and more breathing room before making an offer. Elsewhere \u2014 particularly for single-family homes and plexes \u2014 demand remains strong and sellers still hold the upper hand. The takeaway: your local market should shape your strategy, not the general headlines about &#8220;the Quebec market.&#8221;<\/p>\n<\/section>\n<section id=\"profile\">\n<h2>Who&#8217;s the typical first-time buyer in Quebec today? \ud83e\uddd0<\/h2>\n<p>The typical profile has changed quite a bit. You see fewer and fewer 25-year-olds buying their first bungalow solo. The cost of living and rising property values have pushed back the average age of a first purchase, and the strategies people use to get there have become more creative:<\/p>\n<ul>\n<li><strong>Slightly older buyers<\/strong>, who put their plans on hold for a few years before finally taking the leap<\/li>\n<li><strong>Fewer solo purchases<\/strong> \u2014 couples and co-owner roommates are more common<\/li>\n<li><strong>More frequent family gifts<\/strong> toward the down payment<\/li>\n<li><strong>Two couples teaming up<\/strong> to buy a plex together and split the rental income<\/li>\n<li><strong>More openness to condos or duplexes<\/strong> instead of the detached single-family home &#8220;like our parents had&#8221;<\/li>\n<\/ul>\n<p>In other words, a first purchase is no longer a single box to check. It&#8217;s become a set of strategies people adapt to their budget, their family situation, and their long-term goals.<\/p>\n<\/section>\n<section id=\"downpayment\">\n<h2>How much down payment do you actually need for a first home in Quebec? \ud83d\udcb0<\/h2>\n<p>This is THE question that comes up most in consultations. The good news: the minimum down payment is still fairly accessible, and it works on a tiered scale based on the purchase price.<\/p>\n<table style=\"border-collapse: collapse; border-spacing: 0; width: 100%; border: 2px solid #000; margin: 20px 0;\">\n<thead style=\"background-color: #f4f4f4;\">\n<tr>\n<th style=\"border: 1px solid #000; padding: 10px; text-align: left; font-weight: bold;\">Purchase price<\/th>\n<th style=\"border: 1px solid #000; padding: 10px; text-align: left; font-weight: bold;\">Minimum down payment required<\/th>\n<\/tr>\n<\/thead>\n<tbody>\n<tr>\n<td style=\"border: 1px solid #000; padding: 10px; text-align: left;\">Up to $500,000<\/td>\n<td style=\"border: 1px solid #000; padding: 10px; text-align: left;\">5% of the purchase price<\/td>\n<\/tr>\n<tr>\n<td style=\"border: 1px solid #000; padding: 10px; text-align: left;\">$500,001 to $1,499,999<\/td>\n<td style=\"border: 1px solid #000; padding: 10px; text-align: left;\">5% on the first $500,000 + 10% on the remainder<\/td>\n<\/tr>\n<tr>\n<td style=\"border: 1px solid #000; padding: 10px; text-align: left;\">$1,500,000 and up<\/td>\n<td style=\"border: 1px solid #000; padding: 10px; text-align: left;\">20% (the loan is no longer insurable)<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<p><strong>A real example:<\/strong> for a $450,000 condo, the minimum down payment works out to $450,000 \u00d7 5% = <strong>$22,500<\/strong>. That amount can be pulled together from several sources, including two particularly generous government programs we&#8217;ll look at next.<\/p>\n<\/section>\n<section id=\"hbpfhsa\">\n<h2>Home Buyers&#8217; Plan and FHSA: how much can you combine for a first home? \ud83c\udfe6<\/h2>\n<p>These are the two most powerful tools available to first-time buyers, and they work very well together.<\/p>\n<h3>The Home Buyers&#8217; Plan (RRSP withdrawal)<\/h3>\n<ul>\n<li>Withdraw <strong>up to $60,000 per person<\/strong> from your RRSPs (so $120,000 for a couple)<\/li>\n<li>No tax owed on the withdrawal<\/li>\n<li>Condition: you must not have owned a home in the past four years<\/li>\n<li>Repayment is spread over 15 years, starting in year 5 after the withdrawal<\/li>\n<li>Funds must have been in your RRSP for at least 90 days before withdrawal<\/li>\n<\/ul>\n<h3>The FHSA (First Home Savings Account)<\/h3>\n<ul>\n<li>Maximum contribution of <strong>$8,000 per year<\/strong>, up to <strong>$40,000 lifetime<\/strong><\/li>\n<li>Double tax advantage: contributions are tax-deductible AND withdrawals for a home purchase are tax-free<\/li>\n<li>The account can stay open for up to 15 years, or until you turn 71<\/li>\n<li>Combines perfectly with the Home Buyers&#8217; Plan<\/li>\n<\/ul>\n<div style=\"background-color: #e8f5e9; border: 1px solid #a5d6a7; border-radius: 6px; padding: 18px 22px; margin: 22px 0;\"><strong>\ud83d\udccc Worth remembering:<\/strong><\/p>\n<p style=\"margin-bottom: 0;\">A couple who maxes out both programs can pull together up to <strong>$200,000<\/strong> combined ($120,000 through the Home Buyers&#8217; Plan + $80,000 through the FHSA). That&#8217;s enough to cover a good chunk \u2014 sometimes all \u2014 of the down payment on many purchases.<\/p>\n<\/div>\n<\/section>\n<section id=\"gst\">\n<h2>The new GST rebate for first-time home buyers \ud83e\uddfe<\/h2>\n<p>Here&#8217;s a measure that&#8217;s still not widely known, but it&#8217;s a real game-changer for anyone buying a <strong>newly built home<\/strong>. The bill introducing this rebate recently received Royal Assent, which means the government can now process claims.<\/p>\n<p>In short, the rebate eliminates <strong>100% of the GST<\/strong> on new homes valued up to $1 million, with a gradual phase-out up to $1.5 million (no rebate at all above that). It applies to a new home bought from a builder, a home built on land you own or lease, and shares purchased in a housing co-operative. To qualify, you generally need to:<\/p>\n<ul>\n<li>Be at least 18 years old<\/li>\n<li>Be a Canadian citizen or permanent resident<\/li>\n<li>Not have owned a home (you or your spouse\/common-law partner) in the past four years<\/li>\n<\/ul>\n<p>Figuring out eligibility and the paperwork involved can get complicated fast, especially if you&#8217;re building yourself. The tax team at MNP put together a <a href=\"https:\/\/www.mnp.ca\/en\/insights\/directory\/first-time-home-buyers-gst-rebate-receives-royal-assent\" target=\"_blank\" rel=\"noopener\">detailed breakdown of the GST rebate for first-time home buyers<\/a> that&#8217;s worth a read if new construction is part of your plan.<\/p>\n<\/section>\n<section id=\"amortization\">\n<h2>30-year amortization: a good idea for a first purchase? \u23f3<\/h2>\n<p>Since the changes to federal mortgage rules, first-time buyers with an insured mortgage (meaning a down payment below 20%) can now stretch their loan out over <strong>30 years instead of 25<\/strong>.<\/p>\n<p>In practice, that lowers your monthly payments by roughly <strong>10 to 12%<\/strong>. On a $400,000 mortgage, that can mean a difference of more than $150 a month. Sometimes that small cushion is exactly what makes the difference between qualifying and not qualifying for the home you actually want.<\/p>\n<div style=\"background-color: #e8f5e9; border: 1px solid #a5d6a7; border-radius: 6px; padding: 18px 22px; margin: 22px 0;\"><strong>\u2696\ufe0f The trade-off to understand:<\/strong><\/p>\n<p style=\"margin-bottom: 0;\">A longer amortization lowers your monthly payment, but it increases the total interest you&#8217;ll pay over the life of the loan. It&#8217;s a great tool to help you qualify or to give yourself breathing room early on, but it&#8217;s not a decision to make lightly. A good mortgage broker can help you figure out whether it&#8217;s worth it in your situation, or whether accelerated payments make more sense once things settle down.<\/p>\n<\/div>\n<p>If rate timing and market direction are also on your mind, nesto has a <a href=\"https:\/\/www.nesto.ca\/mortgage-basics\/quebec-housing-market-outlook\/\" target=\"_blank\" rel=\"noopener\">solid, up-to-date look at the Quebec housing market outlook<\/a> that&#8217;s useful for comparing your situation to what&#8217;s happening province-wide.<\/p>\n<\/section>\n<section id=\"opinion\">\n<h2><\/h2>\n<h2><img fetchpriority=\"high\" decoding=\"async\" class=\"alignnone size-full wp-image-22547\" src=\"https:\/\/samuelj.ca\/wp-content\/uploads\/2026\/08\/avis-courtier-web.webp\" alt=\"Buyer-market\" width=\"1200\" height=\"800\" srcset=\"https:\/\/samuelj.ca\/wp-content\/uploads\/2026\/08\/avis-courtier-web.webp 1200w, https:\/\/samuelj.ca\/wp-content\/uploads\/2026\/08\/avis-courtier-web-768x512.webp 768w\" sizes=\"(max-width: 1200px) 100vw, 1200px\" \/><\/h2>\n<h2><\/h2>\n<h2>A broker&#8217;s honest take, straight from the field \ud83c\udf99\ufe0f<\/h2>\n<p>I see it firsthand in my day-to-day practice: the dynamic is changing. A couple of years ago, nearly every first-time buyer I worked with went through the same thing \u2014 a lot of disappointment, repeated multiple-offer situations, and often losing out on two or three homes before finally landing one. It was exhausting, financially and emotionally.<\/p>\n<p>These days, that&#8217;s no longer the norm. Buyers have more negotiating power, more time to think things through, and in many cases the ability to include conditions (inspection, financing) that would have been almost unthinkable not long ago. It&#8217;s not true everywhere or for every property type \u2014 well-located single-family homes are still in high demand \u2014 but the tide has clearly turned in favour of buyers who are prepared.<\/p>\n<p>And that&#8217;s really the key word: <strong>prepared<\/strong>. Buyers who show up with a solid pre-approval, who know which programs are available to them (Home Buyers&#8217; Plan, FHSA, GST rebate), and who have a realistic budget are the ones who negotiate best, no matter which way the market is moving.<\/p>\n<\/section>\n<section id=\"costs\">\n<h2>The closing costs people forget (and that sting later) \ud83d\ude2c<\/h2>\n<p>Beyond the down payment, plan on setting aside <strong>3% to 5% of the purchase price<\/strong> for closing costs. Here are the main items to budget for:<\/p>\n<ul>\n<li><strong>Notary fees<\/strong> \u2014 usually between $1,200 and $2,500<\/li>\n<li><strong>Land transfer tax (&#8220;welcome tax&#8221;)<\/strong> \u2014 calculated on a tiered scale based on the property&#8217;s value, due within 90 days of purchase<\/li>\n<li><strong>Pre-purchase inspection<\/strong> \u2014 between $500 and $800, and honestly non-negotiable<\/li>\n<li><strong>Title insurance<\/strong> \u2014 optional, but often recommended<\/li>\n<li><strong>Municipal and school tax adjustments<\/strong> \u2014 prorated based on the closing date<\/li>\n<li><strong>Moving costs<\/strong> \u2014 varies with distance and how much you&#8217;re moving<\/li>\n<\/ul>\n<p>A lot of first-time buyers pour all their energy into the down payment and forget about this cushion. My advice: always keep a reserve fund after closing for the unexpected costs that almost always show up in the first few months.<\/p>\n<p>If you want to dig deeper into the full buying process step by step, I&#8217;ve put together my best advice in <a href=\"https:\/\/samuelj.ca\/en\/advices\/real-estate-purchase-quebec\/\">this complete guide to buying real estate in Quebec<\/a>.<\/p>\n<\/section>\n<section id=\"faq\">\n<h2>Frequently asked questions about buying a first home in Quebec \u2753<\/h2>\n<h3>What&#8217;s the minimum down payment for a first home purchase?<\/h3>\n<p>It&#8217;s 5% for any property priced at $500,000 or less. Between $500,001 and $1,499,999, it&#8217;s 5% on the first $500,000 plus 10% on the rest. Above $1.5 million, you need at least 20% down.<\/p>\n<h3>Can you really combine the Home Buyers&#8217; Plan and the FHSA?<\/h3>\n<p>Yes, without any issue. The two programs are complementary and can be used at the same time for the same purchase, which lets a couple pull together up to $200,000 combined between the two accounts.<\/p>\n<h3>Does the GST rebate apply to existing homes?<\/h3>\n<p>No. It specifically targets new homes bought from a builder, homes built by the owner, and shares purchased in a housing co-operative. An existing home being resold does not qualify.<\/p>\n<h3>Is 30-year amortization available to everyone?<\/h3>\n<p>It&#8217;s reserved for first-time buyers (and new construction) with an insured mortgage, meaning a down payment under 20%. If your down payment reaches or exceeds 20%, different rules apply and it comes down to your lender.<\/p>\n<h3>Is now a good time to buy, or should I wait?<\/h3>\n<p>It depends a lot on your personal situation and the market you&#8217;re targeting. Generally speaking, conditions have become more favourable for buyers than they&#8217;ve been in a long time, but some segments of the market remain competitive. Your best bet is still to get pre-approved and review your file with a professional before deciding.<\/p>\n<\/section>\n<div style=\"background-color: #f7f7f7; border-radius: 6px; padding: 22px; margin: 30px 0; text-align: center;\">\n<p style=\"margin-bottom: 14px;\"><strong>Questions about your first home purchase?<\/strong> I&#8217;m always happy to talk it through, no strings attached.<\/p>\n<p><a style=\"display: inline-block; background-color: #2e7d32; color: #fff; padding: 10px 24px; border-radius: 4px; text-decoration: none; font-weight: bold;\" href=\"https:\/\/samuelj.ca\/en\/contact\/\">Get in touch<\/a><\/p>\n<\/div>\n<hr style=\"margin: 40px 0; border: none; border-top: 1px solid #ddd;\" \/>\n<p style=\"font-size: 0.9rem; color: #666;\">Written by Samuel Jacques, real estate broker.<\/p>\n<\/article>\n<p>&nbsp;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Down payment rules, the Home Buyers&#8217; Plan, the FHSA, a new GST rebate, 30-year amortization\u2026 the picture for first-time buyers in Quebec looks nothing like it did five years ago. Here&#8217;s what you actually need to know before you jump in. If you&#8217;re house-hunting for your first place right now, you&#8217;ve probably noticed something: the [&hellip;]<\/p>\n","protected":false},"author":3,"featured_media":22545,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[33],"tags":[],"class_list":["post-22549","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-real-estate-purchase"],"acf":[],"_links":{"self":[{"href":"https:\/\/samuelj.ca\/en\/wp-json\/wp\/v2\/posts\/22549","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/samuelj.ca\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/samuelj.ca\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/samuelj.ca\/en\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/samuelj.ca\/en\/wp-json\/wp\/v2\/comments?post=22549"}],"version-history":[{"count":1,"href":"https:\/\/samuelj.ca\/en\/wp-json\/wp\/v2\/posts\/22549\/revisions"}],"predecessor-version":[{"id":22550,"href":"https:\/\/samuelj.ca\/en\/wp-json\/wp\/v2\/posts\/22549\/revisions\/22550"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/samuelj.ca\/en\/wp-json\/wp\/v2\/media\/22545"}],"wp:attachment":[{"href":"https:\/\/samuelj.ca\/en\/wp-json\/wp\/v2\/media?parent=22549"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/samuelj.ca\/en\/wp-json\/wp\/v2\/categories?post=22549"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/samuelj.ca\/en\/wp-json\/wp\/v2\/tags?post=22549"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}