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.
1. 249 Elgin Street – $399,900
Property details:
- 2 bed, 1 bath, 5 parking
- Detached
- Walking score 63/Transit score 47
This turn-key bungalow has an updated four-piece bathroom, an oversized kitchen with stainless steel appliances, a professionally refinished rec room, as well as a brand new deck in the backyard.
View the listing here.
2. 261 Sanders Street – $439,900
Property details:
- 3 bed, 1 bath, 4 parking
- Detached
- Walking score 64/Transit score 47
This charming, two bedroom bungalow has hardwood flooring throughout, a stylish kitchen with quartz countertops and a white backsplash updated just last year. The main bathroom has also been freshly updated with a new countertop and sink.
View the listing here.
3. 136 Dreaney Avenue – $449,900
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. 49 Murdock Street – $479,900
Property details:
- 2 bed, 2 bath, 3 parking
- Semi-detached
- Walking score 37/Transit score 56
This semi-detached, two bedroom home was converted from a three bedroom to create a large primary bedroom retreat. The backyard opens up onto a neighbourhood park with a food forest maintained by the community.
View the listing here.
5. 633 Hamilton Road – $489,000
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.
6. 191 Oakland Avenue – $499,000
Property details:
- 4 bed, 2 bath, 3 parking
- Detached
- Walking score 46/Transit score 46
This home has been renovated with new flooring throughout, fresh paint, insulation, new air conditioning and heater, and new lighting. The open concept living room also comes with a gas fireplace.
View the listing here.
Property details:
- 2 bed, 3 bath, 3 parking
- Detached
- Walking score 58/Transit score 48
This home has beautiful hardwood floors from the dining room into the family room, and an updated kitchen with dark, rich cabinetry and sleek, modern hardware, light stone countertops and a farmhouse sink.
View the listing here.
Property details:
- 2 bed, 1 bath, 2 parking
- Detached
- Walking score 64/Transit score 47
This fully furnished bungalow has had new, recently installed flooring and fresh paint throughout. It also comes with a beautiful deck overlooking a large fully fenced yard, and there’s a corner electric fireplace in the living room.
View the listing here.
9. 100 Emery Street E – $537,000
Property details:
- 2 bed, 2 bath, 4 parking
- Detached
- Walking score 41/Transit score 49
The upper level of this home boasts two bedrooms and a bathroom featuring an original clawfoot bathtub. The main level living room has beautiful stained glass windows and original hardwood floors.
View the listing here.
10. 17 Renny Crescent $539,999
Property details:
- 3 bed, 2 bath, 5 parking
- Detached
- Walking score 60/Transit score 50
This fully updated bungalow has been freshly painted, with brand new laminate flooring. There’s a large, eat-in kitchen and a dining room that overlooks the sunken living room, as well as a rec room and a spa room on the lower level.
View the listing here.
