Located approximately 200 kilometers from Toronto, London is a comparatively affordable city for students, families, and singles alike.
In April, the average benchmark price for a home in London was $739,700. We found ten of the most affordable houses currently on the market ranging from $399,900 to $539,999.
All listings included in this roundup were active as of May 5, 2022.
Prospective buyers should conduct further research and pricing analysis for the homes and neighbourhoods that match their financial circumstances and lifestyle needs to guide their individual decisions. The content is not intended to solicit buyers or sellers currently under contract with a brokerage.
Tips for Buying a Home in London, ON
The London real estate market has been booming in recent years, with market conditions reaching record-breaking levels (to the benefit of sellers) in 2021 and into early 2022. The market is showing signs of becoming more balanced, and it’s a great time for buyers to make their mark!
The most important step in your home buying journey is selecting the right agent to represent you. Your agent should do much more than finding and showing you properties. The best agent for a first-time buyer in Toronto is one who understands the unique complexities of your neighbourhood’s market. They can inform you on the best negotiation practices and offer strategies that will help you come out on top in a bidding war. They’ll also be a helpful resource for connecting you to the right professionals, like mortgage brokers, movers, and lawyers, that will make your purchasing experience more seamless. This team of professionals will be invaluable for you when it comes to financing your purchase and can even help you navigate first-time buyer incentives.
Understanding the stages of buying is another thing prospective buyers can do to set themselves up for success. There are a lot of moving parts when it comes to buying a home, so it’s a good idea to get familiar with the different stages of buying a property before you get started. For a more in-depth guide on how to purchase a property from start to finish, you can download our Home Buyer’s Guide here.
Property details:
- 2 bed, 3 bath, 3 parking
- Detached
- Walking score 69/Transit score 44
This all-brick house has a modern kitchen which opens up into the living room. The second floor features two bedrooms, whilst there are three-piece bathrooms and both floors.
View the listing here.
Property details:
- 2 bed, 1 bath, 8 parking
- Detached
- Walking score 66/Transit score 55
Inside this home you’ll find a bright living room with cathedral ceilings. On the main level there is one of two bedrooms, a spacious dining room, updated kitchen and bathroom.
View the listing here.
3. 136 Dreaney Avenue – $399,900
Property details:
- 2 bed, 1 bath, 6 parking
- Detached
- Walking score 56/Transit score 55
The living room of this home features a stained glass window and tongue and groove wood finishing. There is updated flooring in the kitchen, as well as a spacious deck and backyard.
View the listing here.
4. 610 Wallace Street – $499,900
Property details:
- 5 bed, 2 bath, 4 parking
- Detached
- Walking score 65/Transit score 55
This bungalow has a partly-open concept main floor with an updated kitchen, dining and living room. The basement has two bedrooms, a full bathroom, and partly rough-in for a potential kitchen.
View the listing here.
5. 633 Hamilton Road – $479,900
Property details:
- 4 bed, 1 bath, 6 parking
- Detached
- Walking score 55/Transit score 43
Recently fitted with a new air conditioning unit, furnace and roof, this east London home is perfect for growing families or downsizers. The kitchen features clean, modern design and the washrooms come with freestanding tubs, while the house also has a separate den and finished basement.
View the listing here.
Property details:
- 3 bed, 2 bath, 4 parking
- Detached
- Walking score 71/Transit score 44
Lovingly maintained and updated throughout, this home has an open concept kitchen and beautiful living areas. There are two bedrooms on the main level, and another extra large bedroom and a spa inspired luxury bath on the lower level.
View the listing here.
7. 92 – 3320 Meadowgate Boulevard – $449,900
Property details:
- 2 bed, 1 bath, 2 parking
- Attached
- Walking score 1/Transit score 23
This home has a very spacious living room, a walk-in pantry, and utility room. The four-piece bathroom is tiled and includes a cheater ensuite. There’s also a spacious deck in the garden.
View the listing here.
8. 80 – 101 Brookside St – $499,900
Property details:
- 3 bed, 2 bath, 1 parking
- Condo Townhouse
- Walking score 41/Transit score 48
This home comes with a kitchen with updated counters, backsplash, white appliances, gas stove and timeless white cabinetry. There’s also a convenient powder room on the main floor with updated, elegant flooring throughout.
View the listing here.
9. 254 Wellington Rd – $499,900
Property details:
- 2 bed, 2 bath, 5 parking
- Detached
- Walking score 73/Transit score 50
This solid brick raised bungalow has two separate living spaces and offers the potential for single level living and the option to rent out the secondary space.
View the listing here.
10. 86 – 760 Berkshire Drive – $399,900
Property details:
- 3 bed, 2 bath, 0 parking
- Attached
- Walking score 60/Transit score 50
This home has a large eat-in kitchen with updated cabinetry and a gorgeous glass door feature. The living room has easy clean flooring and a beautiful feature wall that flows nicely into your dining room.
View the listing here.
