Should I Get a Home Inspection When Buying a Condo in London Ontario?

Should you get a home inspection when buying a condo in London Ontario? I would say 90% of the time yes, however, be prudent.

Buying a home in London Ontario is most likely one of the most significant financial transactions most people will ever make. One of the ways to make the right decisions in real estate, and there are many, is to have a thorough home inspection by a well trained, qualified home inspector.

But, buyer beware! Home inspectors in Ontario are not licensed, and anybody can call themselves a home inspector!

Home inspection

What is a home inspection clause?

The home inspection clause protects buyers by giving them the right to cancel the purchase offer without forfeiting the deposit if the home inspector finds a problem or problems with the property.  Or, present the home inspection report to the seller and request either the defects be remedied or reduce the price accordingly — more about defects.

How much does a home inspection usually cost?

Home inspection prices can vary but expect to spend $350 plus. Since this is your only opportunity before closing the sale to identify any problems, this is not the time to skimp on costs or look for a “bargain” inspector.

Who do we recommend?

We have a list of inspectors we’ve used in the past, as well, a few never to use!

we use trusted home inspectors

Who will be there during the home inspection?

You and your realtor should be there, ( Not, all your uncles and aunts, brothers and sisters buddies, Joe the plumber, Mary the painter or your church minister! ) for the home inspection. Yes, a home inspector I recommend told me about a couple who came with their minister for a check to ensure the house was blessed!

The inspector will take photos and provide a detailed summary report, but you should not miss the opportunity to be there and ask questions. The inspector can point out which small repairs you can do yourself and which more massive problems may require a specialist. Some inspectors will also offer home maintenance tips as they discover areas that are in good condition now but may need attention in the future.

No home is perfect. Every home will have some minor issues revealed during a home inspection – even new construction.

In Summary:

  •  Do not look for the lowest price inspector
  • If you have trust and faith in your Realtoremploy who they can recommend.
  • Do not rush through the inspection, be there and try to have the review done in daylight!
  • Do not bring your well-meaning family members, friends or experts! Let the professional do his/her job!

A point to keep in mind: The home inspector works for you, not the Realtor, not the homeowner, not the bank or the appraiser.

Finding The Right Condo in London Ontario For Sale Takes Patience And Help

Are you spending countless hours searching the MLS or looking at old real estate magazines? Or, heaven forbid, real estate websites where it is all about the Realtor and not you?

Searching condos for sale in London Ontario

Going to Open houses and feeling pressured?

Have you missed out on some because they already have an offer or were sold before you even knew about it being for sale?

You may be missing out on some excellent properties that sell in a day or two or one priced so aggressively that it sells as soon as it comes on the market or in a specific area?

Is all that searching working for you or is that you wish to avoid a pesky or bothersome real estate person (don’t blame you)?

Or, perhaps you are curious, or you are in the ‘just thinking stage’ of real estate. Possibly to purchase or sell.

Like fashion, real estate changes quickly, people change, neighbourhoods change, real estate markets change, and the motivation of buyers and sellers change.

So how do I, as a real estate professional & problem solver help?

We view 150+ houses and condos every week. We do loads of searches daily for clients; we are continually researching properties, even For Sale By Owners.

hot property condos for sale in London Ontario

 

You won’t have to jump off any cliffs, scale any mountains, wrestle a crocodile, put up with a pushy real estate salesperson, cross-eyed lawyers, impotent mortgage lenders, near-sighted home inspectors, just put up with us!

A small price to pay to get what you want! Call now 519-435-1600 and start packing!

  These folks did, and they are still with us!

Mills Landing Deveron Crescent Apartment Condo Prices

Mills Landing Deveron Crescent Apartment Condo Prices

There are eight apartment condo buildings located in this enclave at three storey condos in Pond Mills neighbourhood of London Ontario, near the corner of Commissioners Road East and Deveron Cr.

Deveron Cr Apartment Condos London Ontario

There are approximately 350 units, from 1, 2 and three bedroom and all have a gas fireplace. There are two pools on the complex and a short walk to grocery and drug stores. This complex of low rise apartment condos in London Ontario is on a bus route and effortless access to Veteran’s Memorial Parkway and the 401.

Mills Landing Deveron Cr Apartment Condos

The condo management company does an excellent job of looking after the management and the ground keeping, and there is heaps of parking.

As of April 29, 2019, there were 2 three bedroom units sold, one for $214,000 and the other $228,100, 2 one bedroom units that sold, one at $157,000 and the other $165,000, and 6 two bedroom units, from a low of $185,000 up to $200,000, taking about 12 days to sell for 106.32% of the asking price!

 A huge change from 2018 which was a record year and already we have set all-time highs for 2019! Where are prices heading? Give me a call at 519-435-1600 for the real insight of the market.

We saw record prices for these apartment condos in 2018 with 22 sold:

  • four one bedroom units between $117,000 to $139,000. 
  • eighteen two bedroom apartments from $129,000 to $175,000
  • two three bedroom units, one at $162,500 & the other $165,900

You can request unit prices, what’s for sale now, amenities of the apartments that sold and the ratio between asking price and sale price, plus, how long they took to sell!

Scroll down the page and request the reports, we have hundreds of satisfied clients who did and they saved a whole lot of money and time.

Before Buying a Condo in London Ontario, Questions To Ask

Before buying a condo in London Ontario, be it a townhouse, townhome or an apartment condo, there are questions you may want answers to.

It’s hard to ask questions if you don’t know what to ask and if you did get answers, how do you know they are accurate?

The wisest thing that anyone can do after they have decided to buy is to research and contact the Realtor who they feel most comfortable with, who they think has the skills and the experience and whom you feel you can entrust your hard earned money!

Maybe you might want to interview two or three. Here are 11 questions you may want to make sure to ask.

And then, are they pushy, in your face types or are they going to look after you?

Pushy

When you have confidence in a good Realtor, he or she will research properties on your behalf, make appointments to match your timetable, protect you in the buying and offer process and be there if any challenges come up.

Do you not think that having that type of representation would be better for you than just entrusting that binding faith with just anyone? A friend of a friend, Uncle Joe’s distant cousin who just got her license and needs some money, or your co-worker who’s husband ‘does’ real estate on the side!

Do not lose your hard earned money by entrusting it with just anyone!

The First 10 Days Are Critical When Selling a London Ontario Condominium

When selling a condominium in London Ontario, the first ten days are critical and will make the difference how quickly it sells and for how much!

Condos in London Ontario being sold

The most critical time for a new listing in London Ontario is two days before it officially goes on MLS and the eight days after!

Why two days before? I have found that when we have prepared and gathered all the necessary marketing tools the following happens:

  • The documents are completed accurately and thoroughly, no mistakes or missing information & care can be taken to describe your property to prospective buyers.

  • All the pictures are taken, edited or retaken to show your home in the best way possible way.

  • All the marketing material is ready such as feature sheets, your “Buy me” binder, your www.youradress.com webpage and cards!

  • All the websites are loaded, social pages, virtual tours are ready

  • You can do the final touch-ups or any cleaning that may be required.

  • The For Sale sign is up, and any directional signs if needed are placed

Your house on MLS

Day 1 to Day 8:

This is when buyers and their Realtor are searching the Internet for buying a condo in London Ontario and certain streets for something new when excitement is the highest. You can now:

  • Be ready for all showings, have all the marketing materials and property information prepared for that one buyer who loves your place!

  • You have at least one weekend when historically property viewing is the busiest.

  • If no serious offers, the pricing may be wrong or if not enough showings, the marketing needs to improve after ten days!

Once day 11 starts, do something drastically to attract new buyers!

The way a transaction starts is indicative of how your sale will go, quickly or a long rocky road before you sell your home.

 

Listing with an active listing Realtor who has a reputation for being thorough will never do you any harm. Who uses the web to rank high in all search engines, has an above average follow up system and the finances to market your property.

Ensure that before the sign goes up and the listing gets to the MLS, everything from the lockbox, listing brochures and presentations is in place and ready to go. Make sure your listing Realtor has a system to let you view the comments and feedback about your home on an individual listing website. Do they have a checklist (we have 201 items on it) that they share with you before it even gets on MLS?

Do not allow average to get you average results!

In summary, the most crucial time for a new listing when selling a condominium in London Ontario is BEFORE it gets on MLS.

Get Your Home Sold

How do I know this? We sell a lot of condos, we know what works!

London Ontario Condominiums, Townhouses, Apartment Sales Last 30 Days

Here is a brief report on London Ontario condominiums, including apartment condos, townhouses, and townhomes over the last 30 days.

London Ontario Condo Market

Apartment Condominiums: 67 sold through our MLS system taking on median 9 days to sell and getting 103.38% of the asking price.

Townhouses Attached: 97 changed hands, selling for 101.8% of the asking price and the days it took to sell was an average 11 days.

Detached Townhomes: 10 changed hands as reported through our MLS system, 14 days on the market was the average and selling for 99.16% of the asking price.

Summary: For those thinking of selling, the numbers above speak for themselves and for buyers, have your ducks in a row before you start looking, it will save you money and tons of emotional stress!

Selling a Condominium in London Ontario? What Price Will You Choose?

What price do you choose when deciding to put your condo for sale on MLS? I won’t go into the debate about “free advice,” you know, your hairdresser, co-worker, Uncle Ted who knows everything about everything, your financial advisor, or the “Free Market Evaluation” postcard or online generalities.

Selling a House in London Ontario

Below are a few things you may want to give considerable thought to when selling a house in London Ontario:

  • Not choosing the right price when a property is first listed. In other words, thinking “We can always come down.”
  • Put your property for sale at a realistic price. A property must be priced on a comparative basis to the other features which are similar. (I should add, everyone thinks their home is different, but buyers and their Realtor do not think so.)
  • Relate the time to sell to your price. Generally, the quicker you want to sell, the less you should be willing to take.
  • Calculating brokerage fees on top of the sales price. A home is worth what it is worth, with or without a commission.
  • Thinking that buyers aren’t comparing your home, on a dollar-for-dollar basis, with every other house on the market
  • Do not add up all your credit card debt, car loans, a line of credit, mortgage, that one-month luxury cruise and then $20,000 just for the heck of it, and that is the price! Think I am joking? I was on a listing presentation, and the price they wanted was to be able to do the above.

There is a better way!

Looking For a London Ontario Townhouse Or Apartment Condo?

Are you facing any of these situations when looking for a London Ontario Townhouse or Apartment Condo?

 

  • You’re looking to make one of the most important purchases of your life and you don’t want to get burned because of not knowing whom you can trust, or making a mistake that could cost you thousands of dollars later.
  • You do not know the values in the marketplace and you want to be assured of getting the most that you can for your money, without having any regrets after your closing?
  • You’re feeling out of control because there are so many unanswered questions. Making it hard to know where to start.
  • You see or find what you like but it is already sold or has an offer on it before you get a chance to even see it?

If any of these situations sound familiar, I have some fact-filled information will help prepare you for the purchase of a home in London Ontario.  Doesn’t it make sense that in order for you to make one of the most important decisions in your life you should be well informed?

Just 32 Minutes Of Your Time Will Save You From “YEARS Of Headaches”

I have a  quick and easy way to help you prepare for your next purchase  which I  call, “40 Buyer Tips You Should Know To Avoid Making Huge Mistakes!”

Just give me a call at 519-435-1600 to set up a convenient , no obligation meeting and when we do meet, in 32 minutes you will have 40 tips that could save you thousands of dollars and a ton of headaches!

Ty Lacroix

Ten Most Affordable Cities In Canada For Single Home Buyers

The past year hasn’t been easy for prospective home buyers. Despite some recent year-over-year price softening in the nation’s hottest markets, the national mortgage stress test, combined with various policies at provincial levels, effectively took a bite out of purchasing power for all Canadians.

Single Home Buyer

This is especially acute for single home purchasers; not only does having two incomes boost affordability, but it also helps satisfy the income and debt servicing requirements mandated by the aforementioned stress test. Those trying to get onto the property ladder solo may have long heard the narrative that it’s next to impossible to do so given these new requirements.

However, according to a recent study conducted by Zoocasa, that’s not the case in the Prairie and Eastern Canadian markets. In fact, 10 cities in these locales can still be considered affordable for single buyers earning a median household income.

The study, which assessed 20 cities for affordability from coast to coast, calculated the minimum income required to purchase the average home in each market, using a 20-per-cent down payment, 3.29-per-cent mortgage rate, and 30-year amortization as criteria. That amount was then compared to actual median income data of “persons living alone who earned employment income” as reported by Statistics Canada.

Markets were then ranked on whether the buyer had an “income surplus” – the amount of financial wiggle room they’d still have after purchasing their home – or an income gap, which indicated they’d be out of range altogether.

Based on these calculations, Regina can be considered the most affordable for single-income buyers, based on an average home price of $284,424, a median income of $58,823 and the greatest income surplus of $20,025. That’s followed by Saint John, where the average home priced at $181,576 could be purchased on an income of $42,888 with $18,038 left over, and Edmonton, where earning $64,036 would net a $17,826 surplus on the average home price of $338,760. The most affordable cities list is rounded out by Calgary, Lethbridge, Winnipeg and Halifax.

Single buyers earning a median income didn’t have much hope in the nation’s priciest markets, however. Vancouver is the least affordable, with an average home price of $1,109,600, far out of reach of an income of $50,721 to the tune of $88,361.

While incomes and home prices were more attractive in Toronto, buyers still face a steep gap of $46,858, based on a $55,221 income and home price of $748,328. Victoria rounds out the top three, where an average home price of $633,386 is still $39,359 out of range for the median income of $86,400.

Other markets not considered affordable for single buyers include Guelph, Kitchener-Waterloo, London, Montreal and Ottawa.

The study also considered earnings by age group, as purchasing power tends to increase with age. This was the case with Gen Xers (35-44 and 45-54), who enjoy the greatest purchasing power of all single buyers. For example, A Gen Xer purchasing a home in Regina would have an income surplus of roughly $4,000 greater than the average, at $24,215.

Single millennials, however, experienced the weakest purchasing power, especially in the priciest markets; someone between the age of 25-34 earning the median income would fall a whopping $92,774 short on a home purchase in Vancouver.

Upscale Condo For Sale Downtown London Ontario

Photo Link
Downtown London Ontario Condo Luxury Residence

•  1740 square feet,  2 baths, 2 bdrm apartment “Only 3 residences per floor” – FOR SALE  CAD349,900 . Only $206 per Square Foot
MLS® 168464

One of the nicest locations in downtown London Ontario is the desirable ‘Regency Towers’ at 19 King Street. This spacious two bedrooms plus den residence includes 1,700+ square feet of space and is one of only three units on the entire floor! With 39 residence condominiums in the building, these apartments very seldom come up for sale as 19 King is a minute walk to Harris Park, a few minutes more to the London Museum, Budweiser Gardens, Covent Garden Market, superb restaurants, walking and biking trails and a tremendous serene view of the Thames River.

Having only 39 residences in this beautiful building allows privacy, less clutter, less noise compared to the larger, impersonal 200 plus units in other downtown London apartment buildings.

This apartment residence has two good sized balconies with fabulous views, an updated stylish kitchen and gleaming hardwood floors throughout — two spacious bedrooms including a large master with a walk-in closet and a large master ensuite with a rainfall glass shower. The second bedroom includes beautiful wood built-in shelving & a Murphy Bed, flexible as an office, yet, a guest bedroom as well.

Two convenient storage lockers, as well as two underground parking spaces, window coverings and an electric fireplace, are included. Note: Dogs not allowed.

The amenities that this adult building offers is a saltwater pool, a sauna, a small library, an upscale lobby, a security system and the condo fees include ground and building maintenance, caretaker and cable. Average monthly costs for hydro and gas $90, Roger’s phone ($51.56), not included in condo fees, insurance about $45 and water heater rental approximately $32!

As you can see, the location is prime, the quality and size are there, the safety is superb, and the management is top notch. Why not book your viewing now and then start packing?

A terrific value considering location, views and quantity of units.

Property information