Buyer Readiness Check: are you ready to buy a home?
You are ready to buy when your budget, your down payment and a pre-approval line up. Tick what is true for you, and you get a score out of 7 and your next step. Nothing is saved or sent.
You might be worried about falling for a home you cannot afford, or paying fees you did not expect. This shows what to line up first.
The Bottom Line (Quick Answer)
- You are ready to buy in London, Ontario when your budget, down payment and pre-approval line up.
- This Buyer Readiness Check from the Ken Small Real Estate Team shows which ones you have.
- Buying with us costs $495 to start. Our 3% is paid from the seller’s side. If a seller offers less, you never pay the difference.
The short version
- You are ready to buy when your budget, your down payment and a pre-approval line up. This check shows which ones you have.
- Start with a pre-approval. It tells you your true budget.
- Ontario’s $4,000 refund is only for buyers who have never owned a home anywhere in the world.
Tick everything that is true
Nothing you tick is saved or sent anywhere. It is just for you, right here on this page.
What is my next step, whatever my score?
Readiness is not about having it all figured out. It is about lining up your budget, your down payment, and a credible offer. You get help with all of it, with zero pressure to buy before you are ready.
Get pre-approved first
It tells you your true budget and makes your offers credible. Sellers take a pre-approved buyer seriously. It is the smartest first step. Start with pre-approval →
Know the cash you need at closing
The price is not the whole story. In September 2026, the City of London’s average sale price was $591,927 (LSTAR). Land transfer tax, legal fees and other closing costs all need cash at closing. See your real number. Buyer Closing-Cost Calculator →
First home? Government help can lower the bar
Rebates, the First Home Savings Account, and the Home Buyers’ Plan can all lower the bar. Here is the plain-English guide. The first-time buyer guide →
How do I buy a house in Ontario for the first time?
Start with a pre-approval. It tells you your true budget and makes your offer credible. Then work out the cash you need at closing, and the areas you want. Rebates, the First Home Savings Account and the Home Buyers’ Plan can help with a first home.
How much do I need saved to buy in London?
You need your down payment plus your closing costs. The minimum down payment is 5% on a price up to $500,000.
First-time buyers can get up to $4,000 back on Ontario’s land transfer tax (source: Ontario.ca, opens in a new tab). Check the rule first. Ontario counts you as a first-time buyer only if you have never owned a home, anywhere in the world. Federal programs use a different test. It looks at the year you buy and the four years before it. You must not have lived in a home you or your spouse owned in that time. So a past owner can qualify federally and still miss Ontario’s $4,000.
What does it cost to buy a home with us?
It costs $495 to start. Our commission is 3%, paid from the seller’s side of the deal. If a seller offers our brokerage less than 3%, you never pay the difference. Every number is on buyer pricing and fees.
Every home you buy with our team is backed two ways. First, a 1-Year Canadian Home Shield SafeClose™ Warranty: up to $15,000 of protection, $100 deductible. Second, our Love Your New Home Guaranteed or I’ll Sell It For Free. If within 24 months it isn’t right, we list it for free: 0% listing-side commission. That applies when you buy your next home with us, one of equal or greater value. You remain responsible for the buyer’s agency fee. See the guarantees.
Who this is not for
If you want an agent who opens doors and stays quiet, we’re probably not your team. We push back on a bad house. We run the numbers out loud. And we will talk you out of a home that is wrong for you.
What do London buyers say about Ken?
★★★★★All the way from the start of the house search, Ken was there to help at every step. From setting up search criteria that exactly met our needs, to getting viewings scheduled, to providing honest feedback about the properties (which is often rare for most agents); Ken went above and beyond our expectations. 10/10 experience with Ken.
J H · Buyer · Apr 2023 · via Google
4.9 average from 14 Google reviews, as shown on our reviews page (October 2026). Read every review →
The honest takeaway
It is not a test you can fail.
Common questions about being ready to buy
How do I know if I am ready to buy a home?
Should I get pre-approved before looking at homes?
How much do I need saved to buy in London?
What if I am a first-time buyer and feel overwhelmed?
What does it cost to buy a home with the Ken Small Team?
What if the check says I am not ready?
Ready or not, the first conversation is free.
It is a 15-minute call with no obligation and no pressure. We will tell you where you stand and what the next step is. Even if that step is to wait a few months.
About Ken Small
Ken Small, REALTOR®, has been a real estate agent in London since 2003. He leads the Ken Small Real Estate Team at Century 21 First Canadian Corp., Brokerage. The office is at 420 York Street, London, ON N6B 1R1. RECO #4727293. Meet the team →