If you are buying your first home in Quebec in 2026, several programs can lower your upfront cost and your tax bill — but only if you know they exist and claim them correctly. The main ones to check are the federal First-Time Home Buyers’ Tax Credit, the Home Buyers’ Plan for using RRSP savings, the First Home Savings Account, and Quebec’s own buyer measures. Frederic Murray, founder of Groupe Murray, has guided countless first-time buyers through the Quebec City market while building a portfolio of more than 200 units.
This guide breaks down the incentives available to first-time buyers in 2026 and how Immeubles Murray suggests using them.
Who Counts as a First-Time Buyer
Before chasing incentives, confirm you qualify. Most programs define a first-time buyer as someone who has not owned a home they lived in during the current year or the previous four calendar years.
A few points trip people up:
- A spouse’s recent ownership can affect your eligibility, even if you never owned.
- Each program has its own definition, so being eligible for one does not guarantee all.
- Re-qualifying after a marriage breakdown is possible under specific conditions.
Murray Immeubles always recommends verifying your status against each program’s exact wording before counting on the savings.
Federal Programs That Lower Your Cost
Several federal measures apply to buyers in Quebec City in 2026:
First-Time Home Buyers’ Tax Credit
- A non-refundable tax credit claimed on your income tax return for the year you buy.
- It puts money back at tax time to help offset closing costs like legal fees and inspections.
Home Buyers’ Plan (HBP)
- Lets you withdraw from your RRSP toward a down payment without immediate tax.
- The amount must be repaid to your RRSP over a set repayment period.
- Useful for buyers who have built RRSP savings but need more liquidity for the down payment.
First Home Savings Account (FHSA)
- Combines features of an RRSP and a TFSA: contributions can reduce taxable income, and qualifying withdrawals for a first home are tax-free.
- For buyers planning a year or more ahead, Frederic Murray considers this one of the most powerful tools available.
Because contribution limits, repayment terms, and credit amounts are adjusted over time, confirm the current 2026 figures with the Canada Revenue Agency or your financial institution before you plan around them.
Quebec-Specific Considerations
Beyond federal programs, buyers in Quebec face provincial and municipal factors that affect the real cost of purchasing:
Welcome tax (transfer duties)
- Quebec municipalities, including Quebec City, charge a property transfer duty often called the “welcome tax.”
- It is calculated on the property’s value and is due after closing, so budget for it as a separate, sometimes sizeable, expense.
Notary fees
- In Quebec, a notary handles the transaction rather than a lawyer in most cases.
- Notary costs are part of your closing budget.
GST/QST on new construction
- New or substantially renovated homes can carry sales tax, sometimes with partial rebates for eligible buyers.
- Resale homes generally do not, which changes the math between new and existing properties.
Groupe Murray advises first-time buyers to map every one of these costs early, so the closing day holds no surprises.
How to Stack Programs Strategically
The biggest gains come from combining tools rather than using one in isolation. A typical sequence Frederic Murray outlines:
- Open and fund an FHSA as early as possible to capture the deduction and tax-free growth.
- Build RRSP savings you can later access through the Home Buyers’ Plan if needed.
- Plan your purchase timing around your tax year to claim the buyers’ tax credit efficiently.
- Set aside cash specifically for the welcome tax and notary fees, which the down-payment programs do not cover.
Used together, these measures can meaningfully reduce both your cash needed at closing and your tax owed the following spring.
Getting Pre-Approved and Choosing Wisely
Incentives help, but a sound purchase still rests on fundamentals. Immeubles Murray reminds first-time buyers to:
- Get pre-approved so you know your real budget before falling for a listing.
- Factor ongoing costs — taxes, insurance, condo fees, maintenance — not just the purchase price.
- Choose a neighborhood that fits your life and holds value over time.
- Have any home professionally inspected before committing.
The programs reward buyers who are prepared; the savings are largest for those who plan months ahead rather than scrambling at the last minute.
To continue researching your purchase and the wider Quebec City market, explore the Murray network:
- Frederic Murray Estates – investment and analysis
- Frederic Murray Properties – Quebec City neighborhoods
- Murray Immeubles – our property portfolio
- Frederic Murray Immeubles – market trends
