How to buy a house in London, Ontario

• By Ken Small, REALTOR® ·
• Ken Small Real Estate Team, London, Ontario ·
• Century 21 First Canadian Corp., Brokerage ·
• Last updated: October 6, 2026 ·
• Reviewed monthly.

What are the 6 steps to buying a house in London, Ontario?

• 1. Get pre-approved, and know your London budget

  Before you tour a single home, get a mortgage pre-approval. Then you know the number a lender will give you, not a guess. Add the closing costs on top of your down payment: land transfer tax, legal fees, an inspection and title insurance.

  Unlike Toronto, London has no municipal land transfer tax. First-time buyers can get up to $4,000 back on the Ontario tax. See what it costs to buy in London.

• 2. Get clear on the home, and the London neighbourhood that fits

  Must-haves and deal-breakers matter. But in London, the neighbourhood decides your commute, your schools and your resale.

  Old North and Wortley Village trade space for walkability and century character. Byron and Masonville trade a longer drive downtown for parks, newer homes and family life.

  We walk you through the trade-offs, including the ones that cost you later, like the commute. Compare London neighbourhoods.

• 3. See past the photos, and check the home before you fall for it

  The portals show you what’s for sale. They don’t show you what’s wrong. Older London homes can hide knob-and-tube wiring, old galvanized plumbing, or grading and foundation issues. Watch for these in Old North and Old South especially.

  We pull the right homes, tour them with you, and flag problems before you’re attached. How we check a home before you offer.

• 4. Make an offer built on recent sales, not the asking price

  In London’s busiest price bands, the list price is a starting line, not the value. We build your offer on recent sales and the home’s condition. Then we negotiate price, conditions and closing for you. Calm, specific, numbers on the table.

  Your Offer Confidence Brief shows what the home is worth, before you write a number. It also shows your walk-away line.

• 5. Do your due diligence: the conditional period is your safety net

  London offers can include a short window, commonly a few business days, to firm up financing and inspect the home. This is where deals fall apart: financing that doesn’t come through, or an inspection that finds a five-figure problem.

  We guide you through it, so the home goes firm on facts, not hope.

• 6. Close and get your keys

  Your lawyer handles title, the transfer and the funds while you plan your move. On closing day, the keys are yours.

  How long does all of this take? See how long it takes to buy a house in London.

How much money do I need to buy a house in London, Ontario?

You need a down payment, closing costs, and our $495 retainer to start. Our 3% commission is paid from the seller’s side of the deal. See the dollar amounts, line by line, in what it costs to buy in London.

London’s average price was $591,927 in September 2026 (LSTAR). Your price band and neighbourhood matter more than the city average.

What this means for you: the down payment is the big number. The closing costs are the ones people forget. Get both in writing before you offer. Try the Buyer Closing-Cost Calculator.

Is it a good time to buy a house in London, Ontario?

It depends on you, not the headlines. Your budget. How long you will stay. And whether the right home is for sale.

We give you the local market numbers. We tell you when waiting is the smarter move, even when it costs us the deal.

How do I buy a house in Ontario for the first time?

You take the same six steps, plus the first-time buyer programs. Ontario refunds up to $4,000 of land transfer tax, if you have never owned a home.

Ontario’s rule is strict. Here it is, word for word from Ontario.ca (opens in a new tab):

The purchaser cannot have ever owned an eligible home, or an interest in an eligible home, anywhere in the world, at any time.

So a home you owned years ago, even outside Canada, can rule you out. Federal programs use their own rules. See our first-time home buyer guide for London.

Hoping to buy with little or nothing down? Read about zero-down mortgages in London.

What can go wrong when you buy in London?

What protection do you get after you buy?

Who this is not for

If you want an agent who opens doors and stays quiet, we are 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.

If you only want someone to send you listings, you can search them yourself. Search London listings.

What London buyers say about working with us

★★★★★

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

All testimonials and Google reviews are verified, unedited statements from actual past clients of the Ken Small Team.

4.9 average from 14 Google reviews, as shown on our reviews page (October 2026). Read every review →

Common questions about buying a house in London, Ontario