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Home Ownership Program
You dream of owning a property in Montréal? With the Home Ownership Program,
you could take advantage of:
• Financial assistance when you purchase a new property • A
total or partial refund of your « welcome tax » when you purchase a new property
or an existing duplex or triplex
You have kids? The program’s financial benefits are greater for families. In
addition, you are entitled to receive six months of free public transit
access on purchase of a one-year OPUS full-fare pass, and to two Accès Montréal
cards to take advantage of rebates on many activities offered in the cultural
metropolis.
For more information, please read program details below.
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The purpose of this program is to facilitate first-time home ownership for
buyers of a new affordable residential unit or an existing residential building
with two or three dwelling units (duplex or triplex).
More specifically, the program is designed to:
- Help Montréal tenants buy a property in Montréal;
- Encourage developers, indirectly, to build affordable housing,
especially for families;
- Improve the quality of life of households and encourage them to settle in
Montréal, especially young families;
- Increase the number of owner-occupants in existing duplexes and triplexes
so as to encourage better maintenance of such buildings and revitalize
Montréal neighbourhoods.
The program also provides incentives for households with at least one child
to promote sustainable development and limit the use of cars in Montréal. These
families will also be able to take advantage of rebates on many activities
offered in the cultural metropolis.
Who is eligible for financial assistance?
First-time buyers (physical person) of a new affordable residential unit
or an existing residential building with two or three dwelling units are
eligible for financial assistance provided they meet program requirements.
What type of property is eligible?
The purchase in Montréal of one of the following types of
properties can qualify for financial assistance:
- A new residential unit whose total purchase price, including taxes and
extras, does not exceed the stipulated amount;
- An existing exclusively residential building that includes two or three
above-ground dwelling units, with at least one of them being offered for
rent, and whose purchase price does not exceed the stipulated amount.
What territory does the program cover?
The program is available throughout the city of Montréal.
What is the amount of financial assistance?
The amount of financial assistance varies according to the type of household
and the type of property.
The financial assistance for the purchase of a new property includes a
lump-sum payment and the refund of part or all of the real estate transfer tax
("welcome" tax).
| NEW PROPERTY |
| Type of household |
Maximum eligible purchase price1 |
Financial assistance |
| Lump sum |
Real estate transfer tax refund |
| Household without children |
$200,000 |
$4,500 |
40% |
| Household without children of two people buying the property
together |
$235,000 |
| Household with at least one child |
$265,000 |
$10,000 |
100% |
$295,000 for a three-bedroom “family housing unit” |
$12,500 |
1 Including taxes and extras. The maximum eligible
purchase price is increased by $2,500 for a building certified as being conform
to the Novoclimat energy efficiency program or by $5,000 for a LEED-certified
building.
The financial assistance for the purchase of an existing residential
building consistsq of the refund of part or all of the real
estate transfer tax.
| EXISTING PROPERTY |
| Type of household |
Maximum eligible purchase price |
Financial assistance |
| Real estate transfer tax refund |
|
Household without children |
Duplex $360,000 |
40% |
Triplex $400,000 |
|
Household with at least one child |
Duplex $360,000 |
100% |
Triplex $400,000 |
The financial assistance is paid once the new owner has demonstrated that
he/she occupies the dwelling unit and satisfies all other program
requirements. The applicant must pay the real estate transfer tax within the
allotted time; it will be refunded in part or in whole, depending on the
situation. Interest due to late payment of the transfer tax is not included in
the financial assistance calculation.
Households with children who take advantage of this program are eligible
to receive six months of free public transit access on purchase of a one-year
OPUS full-fare pass (one free pass per household). These families will also
receive two free Accès Montréal cards. They will be informed of the procedure to
obtain these benefits upon approval of the financial assistance.
The program ends when the funds earmarked for it have
been exhausted, or on the date fixed by the executive committee of Ville
de Montréal.
Are there any specific program requirements?
For all property types:
- Each of the applicants must prove that he/she has not owned a residential
property in Québec over the last five years. This five-year period is based on
the dates when the sale of the previous property and the purchase of the new
one were recorded in the Land register.
- To be considered a household with children, the household
must include at least one child who is under 18 years of age on the date
of purchase or who will be born or adopted within six months of that date. In
addition, the child must reside with the applicant at least 40 % of the time.
- The date of purchase is the date of registration of the transaction in the
Land register.
- When the financial assistance is approved on the basis of an accepted
offer-to-purchase, the transaction must be completed within 18 months of
signing the offer; applicants then have six months from the date of purchase
to provide all documents required to receive payment of the financial
assistance.
- When the application for financial assistance is made on the basis of a
deed of sale, it must be submitted within six months of the date of purchase.
Applicants then have six months from the approval of the financial assistance
to provide all documents required for its payment.
For new properties:
- The applicant must be the first buyer of the property.
- The property must not have been occupied before it was purchased, except
by the applicant and only for a maximum of 12 months before the date of
purchase.
- The property must be registered under a warranty program for new homes.
- A “family housing unit” is defined as a new residential unit that includes
at least five rooms, at least three of which are bedrooms, and that has a
minimum floor area of 96 m2 (1,033 ft2) as per the
certificate of location.
For existing residential buildings:
- Only the purchase of an existing residential building that includes two or
three above-ground dwelling units, with at least one of them being
offered for rent, and that has no other main use is eligible for financial
assistance.
- The building must have been constructed or converted into a residential
building for at least ten years.
- The building must not be a divided co-ownership at the time of purchase.
In addition, the owner cannot apply for such a conversion while the
application for financial assistance is being processed.
What are the owner's obligations?
- The applicant purchasing a new residential unit must commit to remain the
owner-occupant of the property and occupy it as his/her primary residence for
at least three years from the date of purchase.This requirement must be
recorded in the Land register by a notary chosen by the applicant.
Notaries may charge a fee for this service. Owners who fail to comply with
these obligations will be required to reimburse part or all of the financial
assistance. This provision does not apply if the owner sells this residential
property within three years of purchase but buys another residential property
in Montréal.
- The applicant purchasing an existing residential building with two or
three dwelling units must commit not to convert the building into a divided
co-ownership for at least three years after the financial assistance has been
granted. Owners who fail to comply with this obligation will be required to
reimburse part or all of the financial assistance.
What is the procedure to apply?
Applicants who are eligible for financial assistance should fill out the form
for the Home Ownership Program available:
- On the Ville de Montréal Web site at habitermontreal.qc.ca by selecting
“Financial Assistance”,“Home Ownership”, then again “Home Ownership
Application Form”;
- In borough offices or the reception desk of the Direction de
l’habitation of Ville de Montréal, 303, rue Notre-Dame Est, 4th floor,
Montréal, Québec H2Y 3Y8.
The completed form with the required documents may be sent by mail or
delivered in person to one of the above locations, or sent by fax to 514
872-3883. Required documents are listed in the application form. For
information, please call 514 872-4630.
Once the application has been received, a letter will be sent to the
applicant explaining the approval procedure and the waiting period to be
expected.
How much does it cost to apply?
There is no fee for processing financial assistance applications under
this program.
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This document summarizes the By-law concerning subsidies for home ownership [03-168]. Other conditions may apply.
The lump-sum financial assistance provided in this program is jointly funded by the Société d’habitation du Québec (SHQ) and Ville de Montréal as part of the Rénovation Québec Program. The Canada Mortgage and Housing Corporation (CMHC) contributes to the assistance provided to low-income households. The real estate transfer tax refund is financed by Ville de Montréal.
Other financial assistance programs are available under Rénovation Québec. Please refer to the documents available in borough offices or consult habitermontreal.qc.ca.
The version of the program terms and conditions found on the habitermontreal.qc.ca web site is the most up-to-date. In case of discrepancy between the version on the web site and another version, whether electronic or printed, the web site version will prevail.
Ce document est également offert en français.
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