Georgopoulos Real Estate

Buying a home in London, Ontario

Buying in London starts with three numbers: what a lender will approve, what homes in your chosen neighbourhoods are listed for today, and your closing costs, which in London means Ontario land transfer tax only (there is no municipal land transfer tax here). We set up the search, walk the houses with you, price each one before you offer and negotiate to closing.
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A bright living room with a fireplace and a door out to the deck

Buying in London, step by step

Where should a London buyer start?

With a pre-approval, so you know the ceiling before you fall for a house. Our mortgage pre-approval request puts you in touch with a mortgage professional, and the affordability calculator gives you a first estimate using the lenders' own 39% and 44% debt service limits.

Then look at the map. What your budget buys in London shows how many homes are listed at or under your number in each neighbourhood right now, and you can compare London's neighbourhoods side by side.

What does it cost to buy a home in London beyond the price?

Plan for the down payment plus closing costs. The largest closing cost is Ontario land transfer tax: 0.5% on the first $55,000, 1.0% to $250,000, 1.5% to $400,000 and 2.0% to $2 million. On a $600,000 home that is $8,475. London has no municipal land transfer tax, unlike Toronto.

Add legal fees and disbursements, title insurance, a home inspection, moving, and any adjustments for property tax or fuel the seller prepaid. If you put down less than 20%, the mortgage default insurance premium is added to the loan, and the 8% Ontario sales tax on that premium is paid in cash at closing. Run your own figures in the land transfer tax calculator and CMHC calculator.

How does buying with us work?

Most purchases follow the same path.

  1. 1

    A buyer consultation

    What you need, where, and by when. Tell us in a call or with the dream home brief.

  2. 2

    The representation agreement

    Ontario's Trust in Real Estate Services Act (TRESA) treats any agreement for a brokerage's services as a representation agreement. It states its start and expiry dates and what you will pay, including how that changes if a seller offers to cover part of your brokerage's fee. We walk you through it before we start.

  3. 3

    The search

    We watch new listings for you and send the good ones first, as soon as they are listed.

  4. 4

    Showings and pricing

    We tour with you and, before any offer, pull the comparable sales for that street so the number you write is grounded.

  5. 5

    The offer

    Price, deposit, conditions (financing, inspection, status certificate for a condo), closing date and what stays with the house.

  6. 6

    Conditions to closing

    We line up inspections and appraisals, keep your lawyer and lender in step, and do the final walk-through before closing.

Which London neighbourhood fits me?

It depends on what you are trading off: space, walkability, commute and budget. Older brick homes cluster in Old North, Woodfield and Wortley Village; west-end family streets run through Byron and Riverbend; the north end around Masonville sits closest to Western University. Follow any of them for what is listed there today and the median asking price.

What clients say

cristal wallage

Moving every few yrs or so all over the country means we have become pretty savy in real estate transactions and the strengths and limitations of other realtors. Therefore this move we were looking the best in the field. Rob was top notch. He clearly demonstrates why realtors are essential. We had Rob touring all over south western Ontario looking for our farm property. He prioritized being reachable by phone or text. He’s personable, honest and ethical . It’s obvious he genuinely cares about his clients. Highly, highly recommend!!

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Anita osmani

My partner and I worked with Rob Georgopolous as our realtor and he exceeded all expectations. He assisted with the timely sale of our home and helped us find our new perfect home. His responsiveness, expertise and kindness made the entire process smooth and efficient. We can’t thank you enough, Rob!

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Natalia Bessegato

Rob guided me through every step of buying my first home 5 years ago and has since been my go to realtor. Most recently he helped find our forever home then sold our current house for above asking within hours of hitting the market- a remarkable result in a market that isn't favouring sellers as of late! He's knowledgable and very accessible, often replying to messages within minutes. From the first meeting you can tell he's passionate about his job and cares about the clients he is representing. He cares about more than just closing a deal which makes all the difference in today's market.

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Questions and answers

Is there a municipal land transfer tax in London, Ontario?

No. London buyers pay Ontario land transfer tax only. Toronto is the only Ontario city that adds its own municipal land transfer tax.

How much is land transfer tax on a $600,000 home in London?

$8,475 in Ontario land transfer tax. A qualifying first-time buyer gets up to $4,000 of it refunded, so pays $4,475.

Do I pay anything to use a buyer's agent?

What you pay, and how that changes if the seller offers to cover part of your brokerage's fee, is written into your representation agreement before we start. We explain it line by line.

Can foreign buyers purchase a home in London?

Ontario charges a 25% Non-Resident Speculation Tax on residential purchases by foreign nationals anywhere in the province, and federal rules restrict some purchases. Speak to a lawyer before you offer.

Can you help me buy outside London?

Yes. We work with buyers across Middlesex County and in towns such as St. Thomas, Komoka and Strathroy, and in cottage country on Lake Huron and Lake Erie.

Where to next

Tell us what you are looking for

Neighbourhood, budget, timing and must-haves. We set up the search and call you about the good ones first.

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