When Buying a Condo in London Ontario, Are Buyers Still Overpaying?

Are buyers still overpaying when buying a condo in London Ontario? In 61% of the time, yes!

Overpaying for real estate in London Ontario over the past few months is happening quite often and I have heard the following from buyers and their Realtors.

do not overpay for a home in London Ontario

 

  • “There is nothing I can do about it”.
  • “That’s just the way the real estate market is right now.”
  • “It is what it is”
  • “Get with the times”

Really? So, you are just going to sit there and take it?

Learned helplessness is a condition in which  buyers adapt to a scarcity mindset,  with the fear of loss being huge and instant gratification a must & not thinking of the second and third consequences of overpaying for a home in London Ontario and feeling that there is nothing they can do about it.

That their offer and the acceptance of the offer is totally out of their control.

Yes, the real estate market in London Ontario is vibrant and as a home owner, that is quite positive, yet the consequences of overzealous buyers and their Realtor’s actions will have a negative long term  effect , as history has proven over and over and that the axiom “What goes up must come down”, holds true.

As a home buyer in London Ontario, you have choices and there are strategies you can take to ensure you do not over pay and get caught up in the frenzy.

Let me know if you do not want to overpay, I won’t let you!

Problem Solvers Or Just A London Ontario Realtor?

 People buy or sell a home in London Ontario for one reason and one reason only, to solve a problem! So when you want guidance from a London Ontario Realtor, you sure as heck do not want any more problems, do you?

  Our happy buyers & sellers

  • Tired of Renting? -Solve the problem by buying a house or a condo

  • House or condo too small?Too big? Solve the problem by buying something bigger or smaller

  • Too Expensive? Solve ……..
  • Relocating? Solve …….
  • Don’t like the neighbourhood? Solve ……
  • Divorced? Living Together? Getting Married? Solve ……
  • Fill in the blanks ___________________? Solve ………

I have been a Realtor for quite a few years and own a real estate brokerage and have learned that people do not hire us because we are just a Realtor who can help buy or sell a home, anybody can do that, that is what the average do.

People hire us because we solve problems, we identify them, take a focused view and solve the problem, end of story!

  Find a solution that works!

You don’t hire  a Realtor because you need a taxi driver,  or because they are pretty, ugly, skinny, fat, bald, young or old, you have a problem(which can be good or bad) and you want someone to listen and solve the problem quickly and save some money as well.

And, can back it up with proof, not talk!

Searching For London Ontario Condos To Get The Right One

As another way of helping past clients, they said that learning about how they went about searching for London Ontario condos, helped them make  wise decisions and a good financial choice.

Would it be of benefit to you to if you could get what I call ‘market education’, (to look at 3-4 properties that are similar to  what you are looking for,  not to make an offer or buy  on any of those 4, but to learn a little about the market?

take my car

Then, when you are ready, you will know what to expect and to better clarify your wants & needs.

As well, I will leave you with a 40 page in-depth buyer manual loaded with tips and ideas, from the just looking stage to the day you move in.

There is no obligation on your part, no signing anything, just an old fashion face to face meeting that again, past clients said really helped them.

Again, we see 3 or 4 places, the idea is not to buy these but to get to know what you can buy for your money.

Again, let’s go look at a few and keep your cheque book at home!!!!!

PS:

  • No signing anything
  • No blah blah blah stuff , such as ,”we’re #1, we sell gazillions of homes, 
  • No, “I’m a miracle worker and can find your dream home for 1/2 price
  • No begging ,” Please buy from me or they are going to take away my house, kids and Mercedes!
  • No  BS 
  • No coffee, tea or lunch (if you are not bringing your chequebook, I’m not buying either!)

There Are Two You’s Competing To Buy a London Ontario Condo

When a buyer goes shopping for a house or a London Ontario condo , there are actually two homes competing for their attention: the one that meets their needs, and the one that fulfills their wants.

looking to buy a house or a condo in London Ontario

In one of the greatest financial books ever written, ‘The Richest Man in Babylon’,George Clason writes that there are two kinds of study: the one kind being the things we learned and knew, and the other being the training that taught us how to find out what we did not know.

I read this book yearly to refresh and remind myself of some real simple financial basics, while very simple and easy to do, most Canadians do not follow, perhaps because it is too simple to make wise financial decisions.

It is like a person complaining of a sore belly, goes to their doctor and tells the physician that Dr. Google says it is blah blah blah! The kind physician ( the one not rolling their eyes or thinking “Oh no,here we go again) will ask questions, identify the cause or the remedy and treat the problem.

In real estate the same thing, wise, intelligent people listen to what their neighbour or co-worker says, read “how to save thousands when buying real estate’, or watch all those reality shows and then become experts in buying a house or a condo.

Home sellers and their real estate representative love you, because you are the one who overpays for a home (yet brag that you got a good deal, yadayadayaa) or find out that the home has structural issues or a neighbourhood stigma .

Getting back to The Richest Man in Babylon, letting ego take a break  and finding out what one does not know about buying or selling may be a good decision. In real estate we do not have a Dr. Google, but we have everyone who has ever bought or sold a home as experts on how to buy or sell one!

Do you think a professional Realtor may be a great asset for you? Do you need one or want one?

Searching For a Condo In London Ontario With No Luck?

Are you spending countless hours searching the MLS, real estate magazines, weekend classified ads and real estate websites looking for the ideal condo in London Ontario & area, be it an apartment in a high rise, a two storey townhouse or a detached town home , that is within your price range and in a good neighbourhood in London Ontario?

searching for a condo in London Ontario

Going to Open Houses? Going To Builder’s Models?

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 great condos that sell in a day or two or one that was priced so   agressively 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. Perhaps to purchase or sell.

Regardless, like fashion, real estate changes fast, 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, as a Broker of Record and Owner keep you, the curious, the maybe, the must have by the end of the month, the retiree, the downsizer, the upsizer, the DINK’s (double incomes,no kids), the tire kicker, deal maker, bread winner or just plain ready to move informed about real estate in London Ontario?

My asociates and I view a lot of houses and condos every week. We do loads of searches daily for clients, we are constantly researching properties, even For Sale By Owners.

we find houses in London Ontario

As professional house hunters in London we know the jungle, the alleys, the streets, avenues, crescents  and can guide you on the right path to ensure your purchase is wise & financially sensible.

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, all you have to do is put up with us!

  These folks did and they are still with us!

Buying a London Ontario Condo, New or Resale?

Over the years, we have found that one of the most common questions we are asked is about the advantages and disadvantages of buying a London Ontario condo, new or old. The answer is that there is really no way to generalize; each case requires its own assessment!

buying a condo, new or old

 

A lot of specific research and fact finding should be done before you contemplate purchasing a newly constructed home. It is easy to assume that the home will be well constructed with quality materials and workmanship, but that is not always the case.

Our experience has given us the skills to know exactly what to look for in a new home, the right questions to ask and also, who to direct them to! Not only that, we can help you make the calculations that will be important to your final decision.

 

 

Who is protecting you when you buy through a sales office or a  model show house! The builder has either  a professional real estate representative watching out for their interests or their own salaried/commission sales person representing the builder  and you need and deserve the same expert representation watching out for your interests.

Lawyers are not allowed to represent both parties in a real estate transaction, why a builder?

Before you make that big decision on buying a home in London Ontario, why not get together with us & discuss the pros and cons and then decide how to next start the process & save you some money!

Frustrated Finding London Ontario Condos?

Are you spending countless hours searching the MLS, real estate magazines, weekend classified ads and real estate websites looking for the ideal condo, be it an apartment in a high rise, a two storey townhouse or a detached town home , that is within your price range and in a good neighbourhood in London Ontario?

searching for a condo in London Ontario

Going to Open Houses? Going To Builder’s Models?

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 great condos that sell in a day or two or one that was priced so   agressively 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. Perhaps to purchase or sell.

Regardless, like fashion, real estate changes fast, 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, as a Broker of Record and Owner keep you, the curious, the maybe, the must have by the end of the month, the retiree, the downsizer, the upsizer, the DINK’s (double incomes,no kids), the tire kicker, deal maker, bread winner or just plain ready to move informed about real estate in London Ontario?

My asociates and I view a lot of houses and condos every week. We do loads of searches daily for clients, we are constantly researching properties, even For Sale By Owners.

we find houses in London Ontario

As professional house hunters in London we know the jungle, the alleys, the streets, avenues, crescents  and can guide you on the right path to ensure your purchase is wise & financially sensible.

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, all you have to do is put up with us!

  These folks did and they are still with us!

Everything There Is To Know About Condos in London Ontario

If you are thinking about buying a condo in London Ontario or area, do you feel you know everything there is to know about buying one?

Or, were you going to just wing it or have just any  Realtor drive you around and then you buy one? Sounds foolish, doesn’t it? Yet, what do most people do? Yes, you are right!

Condos in London Ontario

 How much would you save in money, stress or issues if you knew about the following?

  • Four Fears Most Condo Buyers Have & What To Do About It
  • Four Important Questions To Ask Your Mortgage Lender Before You Sign Anything.
  • I’m The One Buying The Condo Who Are All The Other People Who Get Involved And Why?
  • When I Go To Buy A Condo, How Can I Protect Myself? Before & After?
  • New or Resale, What You May Not Know.
  • Why You Shouldn’t Buy a Car or Furniture Right Before You Buy a Condo.
  • Five Strategies To Never Ever Overpay For a Condo.
  • Getting a Home Inspection For A Condo? Do I Need One?
  • How Credit Reports And Credit Scoring Affects How Much Condo You’ll Be Able To Buy
  • What Pricing Strategies Are Sellers & Their Realtor Using To Get You To Buy?
  • A Proven Way To Avoid Frustration When Looking For Condos in London Ontario & Area.
  • How Can I Remember Each Condo When I’ve Seen So Many?
  • Five Questions You Should Ask Your Realtor At Every Condo You Visit.
  • Six Things Most Builders Hope You NEVER Hear.
  • 8 Signs That Could Mean Expensive (hidden) Trouble
  • Avoid Being Beaten Out By Other Buyers Who Want The Same Condo As You Do.
  • A No Fail Guide To Finding A Mover That Won’t Take You To The Cleaners.
  • Ways You Can Save Thousands of Dollars In Interest And Pay Your Mortgage Off Years Sooner.
  • Why Just Any Lawyer Will Not Do
  • How Important Is a Status Certificate? Why Do I Need One? Who Pays For It?

As you can see, we do not leave any stone unturned when it comes to helping you BEFORE you buy a condo. You should see what we do when we help buy one!.

Why not sign up for our condo buyer insider scoop email subscription now, there is no cost, there is no obligation and the best part is, you will definitely save money and time.

Condos in London Ontario, Buy One The Right Way

When looking at condos in London Ontario,it can be an emotional experience, perhaps even trying and scary. It can also be time consuming and comes with a myriad of details that should not be overlooked. Some buyers, (and even their Realtor), can get caught up in the excitement of buying a place and then tend to forget a few things. Their condo experience then could turn into an unpleasant turn of events, such as:

  • Paying too much
  • Losing the perfect condo to another buyer
  • Not buying in the right neighbourhood or building
  • Feeling rushed
  • Not enough due diligence done through the process and omitting a few steps

                                        Looking to buy a condo through the internet on MLS

                          Make Buying a Condo in London More Pleasant

The specific way you progress through a condo buying transaction varies but there are many  buying steps that are standard, even though they might not be accomplished in the same order in every location.

You’ll feel more confident about your condo buying journey when you understand what is required of you and every other person who is involved in the transaction.

I believe that there should be a thorough plan BEFORE a  buyer even starts looking  because when there is a systematic plan in place before you shop, you’ll know what to expect and if any unforseen events occur, you will know how to overcome them.

                             Working to ensure you find the right condo for you

I know there are buyers who prefer to search MLS real estate listings, go to lots of open houses, spend weekends & evenings looking and looking and trying to find the right place or perhaps, even a bargain.

As a professional Realtor , I have helped hundreds of house & condo buyers in London Ontario and I can veify that buying a home can take an enormous amount of time, even patience,  I do it every day, so for the ‘lone rangers’, go for it!

search condos in London Ontario on MLS

For those of you who are looking for that ideal condo, perhaps one not even on MLS yet & would like professional real estate guidance, negotiation, diligence and care, our “Dedicated Home Buyer Program” may be something that you have been looking for.

  Condominium living :

Couple buying a condo in London Ontario

    Most  newspapers now include a condominium section which recognizes the increasing number of people who already live in—or aspire to live in—a condominium.

  The Canada Mortgage and Housing Corporation (CMHC) has created a  guide to help you become an informed condominium buyer and to help you make the best choice. At the end of the CMHC Guide you will find full definitions of some of the terms used.

   It will identify important questions to ask—and the people you should be asking—before you make this important purchase.

  Searching to buy a condo in London Ontario

 At the end of the report, there is a selection checklist to help you narrow down the choice between the different types of condominiums you might see.

  Another great information tool is our own Condos in London guide,  one that I have been providing to Londoners for the last 15 years, in it you will see price ranges and styles of condos, neighbourhoods, specific buildings or complexes, local London Ontario links and telephone numbers, maps and tips.

I hope you will find it as helpful as hundreds of clients have.

   Try this Tool Kit if you are looking for tips and ideas when buying real estate

 homebuyers toolkit

 

Plan & Plan & Plan Before Buying a Condo in London Ontario

Buying a condo in London can be an emotional experience. It can also be time consuming and comes with a myriad of details. Some buyers, (and their agents), however, caught up in the excitement of buying a condo, tend to overlook some items.

Buying a condo in London the right way

These errors generally fall into three areas:

  • Paying too much
  • Losing a dream condo to another buyer
  • Buying the wrong condo

When you have a systematic plan before you shop, you’ll be sure to avoid these costly errors.

Bidding without sufficient information

Buying the wrong condo for you

Unclear title

Inaccurate Survey

Unexpected repairs

Not getting Mortgage pre-approval

Hidden costs

Rushing the closing

Why do we know this? We assist home buyers every day, 7 days a week and from many years of experience, we understand what it takes to guide,  find, select, negotiate and follow all the steps necessary to make good decisions.

That must be the reasons we have repeat buyers and are referred to every day or do you think it just because we have a fancy website, are Realtors and are ugly looking?