First-Time Home Buyers Incentives in Quebec

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First-time homebuyers in Quebec have many incentives to help them purchase their first property. Support ranges from non-refundable tax credits to lump sums that help with downpayments. To be considered a first-time buyer, you or your spouse cannot be currently living in or have lived in another home within the previous 4 years that you or your spouse owned or co-owned.

With Quebec’s housing stock diminishing and prices rising, we’ll help you understand the incentives available to first-time buyers in the province.

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Key Takeaways

• Quebec offers several incentive programs for first-time homebuyers, such as the Quebec Home Buyers’ Tax Credit.
• Montreal offers incentives, including up to $15,000 through the Home Purchase Assistance Program.
• First-time homebuyers in Quebec can also take advantage of federal incentives, including a withdrawal of up to $60,000 under the RRSP Home Buyers’ Plan.

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Quebec First-Time Home Buyer Incentives

First-time buyers in Quebec are eligible for two non-refundable tax credits: 

• up to $1,400 through the Quebec Home Buyers’ Tax Credit and 
• up to $1,500 through the federal First-Time Home Buyers’ Tax Credit (HBTC). 

As long as you’re considered a resident of Quebec on December 31st of the year you purchased your first home, and the property is located in Quebec, you’re eligible for the tax credit. 

First-time buyers in Montreal are also eligible for up to $15,000 under the Home Purchase Assistance Program. First-time buyers are eligible if they have not owned a home in Quebec for the last 5 years and will occupy their new home as a primary residence.

First-time buyers should also know that the Quebec City Family Access Program (Programme Accès Famille) offers interest-free, downpayment loans for homes under $370,000.

Incentive: Government of Quebec’s Home Buyers’ Tax Credit

Quebec offers up to $1,400 in tax credit to eligible first-time buyers. The qualifying amount may be split among all eligible claimants for the same qualifying home.

To be eligible, you must be a resident in Quebec on December 31st of the year you purchase your first home, and the property must be a qualifying property located in Quebec. You may also be eligible if you purchased a qualifying home with the intention of making it the principal residence of a relative with a disability. 

Qualifying Homes

To qualify for the Quebec Home Buyers’ Tax Credit, the home must be located in Quebec, will be your principal place of residence, and fit into one of the following build styles:

• a detached, semi-detached or row house,
• a manufactured home,
• a mobile home,
• an apartment in a condominium building or a multiple-unit residential complex

The qualifying property can also be a share of the capital stock of a cooperative housing corporation, granting you the right to own a housing unit as long as your right to own that housing unit is published in the land register.

Completing the Home Buyers’ Tax Credit Form (TP-752.HA-V)

The Home Buyers’ Tax Credit Form (TP-752.HA-V) can be found here. The form should only be completed if you claim the home buyers’ tax credit on line 396 of your income tax return.

To complete the form, you’ll need information about the property, yourself (including your latest income tax return) and any other owners (including their latest income tax return). 

Incentive: City of Montreal’s Home Purchase Assistance Program

First-time homebuyers (FTHB) and experienced buyers with at least 1 child under 13 in Montreal are eligible for a grant of $5,000 to $15,000 under the Home Purchase Assistance Program. 

To be eligible as a first-time buyer, you cannot have owned a home in Quebec for 5 years before purchase, except for a non-primary residence such as a cottage. To qualify as an experienced buyer, you must have at least 1 child under 13, or have a child who will be born or adopted within 9 months of the home purchase. In both cases, the child must live with you at least 40% of the time.  

The financial assistance you are eligible for depends on whether the home is new or existing and whether you are a first-time or experienced buyer. 

Eligible Purchase Prices

Circumstances	Maximum Purchase Price	Eligible Rebate*
First-Time Buyers – New Homes
Single-buyer, no children	$305,000	$5,000
Several buyers, no children	$380,000	$5,000
At least one child under 18, property located within downtown	$610,000	$15,000
At least one child under 18, property located outside of downtown	$540,000	$10,000
Experienced Buyers – New Homes
At least one child under 13, property located within downtown	$610,000	$15,000
At least one child under 13, property located outside of downtown	$540,000	$10,000
Existing Homes – reimbursement of the real estate transfer tax
First-time buyers – must have at least 1 child under 18	$725,000	Between $5,000 and $7,000
Experienced buyers – must have at least 1 child under 13	$725,000	Between $5,000 and $7,000
Additional Amounts for Environmental Certifications
Novoclimat certification		$2,500
LEED certification		$5,000

Quebec City Family Access Program 

The Quebec City Family Access Program (Programme Accès Famille) offers financial assistance through an interest-free loan. Couples with or without children and single-parent families who make a maximum gross income of $150,000 and meet the eligibility criteria can qualify for a loan of up to 5.5% of the property value. The maximum purchase price for the home cannot exceed $370,000, and you must not have owned a home for 5 years prior to the purchase. 

If the home is Novoclimat-approved, you will receive an additional credit in the form of a 3.5% direct rebate on your mortgage. 

If you decide to sell or rent the home, refinance or the original amortization ends, the loan must be repaid. The amount you will repay is the original loan amount plus an additional 5.5% of the home’s added value (without energy efficiency certification) or 9% of the home’s added value (with Novoclimat approval). 

Incentives: Federal First-Time Home Buyer Programs

In addition to province-specific programs available to Quebec residents, there are federal programs that first-time buyers can use to maximize savings. 

RRSP Home Buyers’ Plan (HBP)

The Home Buyers’ Plan (HBP) allows you to withdraw up to $60,000 from your RRSP to buy or build a qualifying home for yourself or a disabled relative. If you have a spouse or common-law partner, you can withdraw up to $60,000, for a combined maximum of $120,000 under the plan. 

Withdrawals under the HBP must be repaid into your RRSP account within 15 years; otherwise, the amount will become fully taxable income. There is a 2-year grace period following the year of withdrawal where no repayments are required. For example, if you withdraw from your RRSP in 2024, your repayments will start when you file your taxes for 2026. 

Home Buyers’ Amount

You may be eligible for the Home Buyers’ Amount rebate of up to $1,500 when purchasing a qualifying home. You can claim up to $10,000 on line 31270 of your tax return or split this amount with your spouse or common-law partner for a combined total of $10,000. 

GST/HST New Housing Rebate 

The GST/HST New Housing Rebate reduces the taxes you pay on new builds or significantly renovated properties. You may be eligible to recover some of the GST or HST paid on your home if you meet the eligibility criteria. The rebate amount and eligibility criteria depend on the province where the home is located. 

Frequently Asked Questions 

Final Thoughts

First-time homebuyers in Québec already have so much on their plate. The cost and process only add to their long list of anxieties about owning their first home. It’s never easy to find somewhere to call home, especially during times of economic uncertainty. However, a combination of federal and provincial incentives in Québec can help first-time buyers get into the property market.

If you’re looking for a place to call home, explore some of the best mortgage rates on the market and get in touch with one of nesto’s mortgage experts today.

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