Buying a London Ontario Condo?

In a recent survey, the biggest and most costly error home buyers make is how they start the process of buying a home in London.

Usually the first step is deciding you want to move,  to stop renting or downsizing from a larger house. All good so far.

searching to buy a condo in London

Then, most will go and talk to a good mortgage lender( this is a major and crucial step and be careful whom you talk to, I cover that in another report) to see if you qualify and for how much. How much of a down payment and what would your average payments be. Again, you are on the right track.

Then what?

Yup, most start searching the MLS listings, Kijiji, real estate websites and real estate magazines (that are usually a month late) and what do they do? Call 4 or 5 real estate sales people who have listings they want to see and set up an appointment.

While making those appointments you hear the same thing:

  • Are you preapproved for a mortgage?
  • Are you working with an agent?
  • Do you have a house to sell?
  • Perhaps a few more personal questions or the name of your cat or dog!

Questions about buying a home in London Ontario

Then you go see a few homes, if you like one you may put in an offer with the listing sales person  without any research or thought of the long term consequences.

Or, the homes you have seen are not to your liking, but you like the sales person and they convince you that they can help you look for something else, again, without any research of that agent or thought of the long term consequences!

The wisest thing you can do after you have made the decision you want to move, is to research and contact the real estate sales person who has the skills and experience and whom you will entrust your hard earned money to!

Maybe interview two or three.

Then when you have confidence in the sales person you have chosen, that good real estate person will research properties on your behalf, make appointments to match your time table, 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!

11 Questions You may Want To Ask a Real Estate Person BEFORE you start!

How To Get Results When Selling a Condo in London Ontario

When selling a condo in London Ontario and to get good results, first impressions make a significant impact on a buyer’s decision-making process!

Once your condo goes is listed on MLS, it becomes a product. Home Styling simply allows you to highlight the best of your condo and de-emphasize its flaws. It’s not about decorating, but actually turning your home into a model, to appeal to the broadest range of prospective buyers. The goal is to make people feel like they could live there, and the best way to do this is to “neutralize” the surroundings.

Sell at a Top Value Prepare Before Selling
Try out these helpful styling tips that out team of professionals use. Things you can do for little or no expense—to put a condo in prime showing shape.

  • Clear out closets and clutter—sellers can give away or pack up toys, linens, and small kitchen appliances to store offsite. Buyers are also forgiving of storage boxes neatly tucked away in a garage or basement.
  • Focus most on the most visible areas—the foyer, kitchen, living room, master bedroom, and family room.
  • De-personalize the home by removing photos, mementos, and dated items.
  • Use plants in colorful pots or inexpensive wicker baskets to fill in empty spaces.
  • Try angling one or two pieces of furniture slightly and move furniture 4 inches to 6 inches from the wall to create more interesting room spaces.
  • Put away large collections— porcelains, plates, and so on.
  • Remove valuables, prescription medicine, collectibles, and breakables.
  • Refrain from cooking anything that leaves a distinctive odour, such as fish, garlic, or cabbage.
  • Hire a professional service to clean the home, including the carpets and the windows.
  • Set the dining room table with attractive linens, dishes, and stemware.
  • A mirror in a pretty frame can make a small room feel more open.
  • Use as much natural light as possible. Add extra lamps in dark rooms or corners.
  • Make functional repairs—fix dripping faucets, sticking doors, lightbulbs

Read more about :

It All Starts With Creating Curb appeal  Page 3

The Entry Way Sets the Stage     Page 5

Tips for Every Room In the House  Page 6

Making the Most of Your Kitchen and Dining Room  Page 8

Can The Buyers See Themselves Living in the Living Room? Page 10

Make the Bathroom Sparkle  Page 11

Look at These Big Beautiful Bedrooms!  Page 12

Create a Clutter Free and Functional Home office  Page 13

Making the most of the Basement / Laundry Spaces Page 14

101 ways to sell your condo

12 Tips To Sell Your London Ontario Condo

Even though houses in London Ontario are selling quite well,  36% of London Ontario condos and houses listed in the London area take over 60 days to sell or not sell at all!

To maximize your home’s selling price there are steps you can take to ensure that your home sells quicker, reducing stress and maintaining some control of one of your largest financial decisions in your lifetime.

Home not selling

Keep the reason you are selling to yourself and your Realtor.

Do not reveal your motivation for selling to anyone else because they may use it against you at the negotiating table. When asked, just say that your housing needs have changed.

Different goals will dictate different strategies.

What is more important to you: the money you walk away with or the length of time your property is on the market or both?

3 Do your homework before setting a price.

The average buyer will look at 15-20 homes at the same time they are looking at yours. That buyer will now have a basis of comparison, and if your home does not compare favorably with others in the price range, your home may sit on the market for a longer time.

More Homework.

 (A good Realtor should do this for you) Find out what homes in your neighbourhood have sold for in the last 6-12 months, and research what current homes are listed for. That is how a prospective buyers and their Realtor will assess the worth of your home.

Maximize your home’s sales potential.

You may not be able to change your home’s location or floor plan, but you can do a lot to improve its appearance. The look and feel of your home generates a greater emotional response than any other factor.

101 Ways To Sell Your House in London Ontario

Deciding upon a Realtor

You and your Realtor are partners in marketing your home. Choose carefully and wisely.

Make it easy for buyers to get information on your home.

Buyers calling for information on your home value their time as much as you do. They also do not want to be hassled or frustrated because they cannot get a hold of the listing Realtor or some of the information is incorrect.

Do not move before you sell.

Studies have shown that it is more difficult to sell a home that is vacant because it looks forlorn, forgotten and simply not appealing. As well, buyers may think because it is empty, you are motivated to sell fast and for a lower dollar.

Deadlines create a serious disadvantage.

Don’t try to sell by a certain date. This adds unnecessary pressure and is a serious disadvantage in negotiations.

10 Keep emotions in check.

Do not be offended by a low offer or certain demands from the buyer. A good listing salesperson can turn these negatives into a positive situation.

11 Be a smart seller- disclose everything.

Be proactive, by disclosing any problems or defects you are giving the buyer confidence that you are not hiding anything.

12 Make sure the contract is complete.

Ensure that all terms, conditions and responsibilities are spelled out in the offer and that you fully understand them.

.do not sign anything without checking first

All the above steps , though simple and easy to do, are not often done, perhaps because they are so simple and easy to do.

From experience, my clients have commented that thoroughness in getting their house sold and the systems I use were outstanding! (Their words, not mine!)

 Would you like to discuss how to maximize the price of your home?

How Not To Overpay When Buying a Condo in London Ontario

How do you, a buyer of a condo in London Ontario, able to act quickly when the condo you like either has multiple offers or the threat of one?

Yes, the condo market in London Ontario is heated as these April statistics say it all.

Being prepared ahead of time is one thing you could do, the other is what I call market education. That means knowing what is on the market as far as styles, prices, neighbourhoods go. What will happen is that once you grasp what the condo market is doing, you can make a decision based on facts and not fear of loss or impulse!

Do not be lulled into complacency as the results can be you overpaying or choosing the wrong condo in London Ontario!

Apartment Condo For Sale London Ontario

apartment condo for sale London Ontario

570 William St #305

Inexpensive living at this apartment condo for sale in London Ontario, 2 bedrooms, 1 bathroom, balcony, 6 appliances and furnished, all for only $162,900!

•  MLS® #595373

– You can buy this furnished two bedroom condo apartment in sought after historic Woodfield District in central London Ontario.

Quality beautiful hardwood floors in the living and dining rooms & ceramic in the kitchen, hallway and bathroom. A nice size south facing private balcony. You’ll love the beautiful working kitchen with dark cabinets and modern counter tops, there are 6 appliances included.

The bedrooms are bright with good sized closets & crown moulding throughout, tastefully decorated & ensuite laundry.

Situated in a historic, prime location, minutes from Victoria Park, the popular dining & shopping district of Richmond Row, Western University and St.Joes.

The water is included in the low condo fee of $343.41 and the taxes are only $2098 making this an inexpensive living experience.

This is a well-managed building with security and parking.

Move in ready & could be a great investment property for wise investors.

Property information

2 Bedroom Condo For Sale London Ontario $119,900

2 bedroom condo for sale London Ontario $119,900 Move in Condition

•  1 bath, 2 bdrm single story – $119,900 CAD. Excellent Value
MLS® #594664

– A beautiful updated 2 bedroom Mills Landing condo apartment in a well maintained & managed property.

Freshly decorated in neutral tones, new kitchen and bathroom in November 2016, ceramic floors in kitchen & bathroom, laminate in living/dining room & hallways. Lovely gas fireplace for economical heat and comfort in the living room and patio doors to the balcony.

6 appliances and window coverings are included with easy access to Veterans Memorial Parkway, shopping and on a bus route.Condo fees include water.

A great salt water pool is on the grounds and an exercise centre in the building across. This is in move in condition and a please to view.

Property information

My Top Picks London Ontario Condos

My Top Picks London Ontario Condos may be helpful to you as I have shown buyers 736 condo apartments, townhouses and town homes in 2016. 

If you are finding it confusing searching MLS, newspapers and magazines or agent websites for a condo in London Ontario, I do too sometimes!

Top picks London Ontario Condos

Knowing the price, styles, location and amenities that every condo apartment or town home or townhouse complex has in London can be daunting and my goal when working with a buyer  is to first educate you, the buyer, about what is available, then assist you in narrowing down the search and then offer you  guidance and my experience & negotiating skills to get you the property that fits.

In London at present there are these apartment condos for sale in London Ontario:

  • 23 from $71,900-$99,900
  • 41  from $100,000 – $150,000
  • 33 from $150,000 – $200,000
  • 31 from $200,000 – $275,000
  • 18 over $275,000

Townhouse Condos that are currently for sale:

  • 6 from $71,000 to $99,900
  • 27 from $100,000 to $150,000
  • 31  from $150,000 – $200,000
  • 58  from $200,000 – $275,000
  • 66  from $275,000 – $350,000
  • 22 from $350,000 – $450,000
  • 37 over $450,000
 Apartment Condos For Sale in London  (My Picks)
Bedrooms Bathrooms Price Description
2 1 $114,500 1000 square feet Plus, bus route UWO
2 2 $137,000 insuite laundry, freshly painted
2 1+1 $163,900 Downtown, hardwood, fireplace, 5 appliances
2 1+1 $197,000 5 appliances, pool, underground parking
2 2 $249,900 9′ ceilings, hardwood, ceramic, master ensuite
2 2 $279,900 Luxury, green space, underground parking
2+1 2 $389,000 Downtown, luxurious, spacious
2 2 $449,000 1850 square feet +, a wow factor
2 2+1 $678,000 Great View
 Townhouse Condos For Sale in London (My Picks)
Bedrooms Bathrooms Price Description
3 1+1 $119,900 Forced air, finished basement
3 2 $147,900 Finished Basement, Patio, 5 appliances
3 2 $169,900 Master ensuite, garage, bus route UWO
4 2+1 $199,000 ,garage, finished basement, large rooms
3 2+1 $249,000 Walk to UWO, garage
2+1 2+1 $279,000 one floor, double garage, finished basement
3 2+1 $369,900 one floor, detached, double garage, finished basement
3 3 $431,000 End unit, park like setting, one floor, double garage
3 3+1 $469,900 Exclusive area, 3500 square feet +, double garage

So, looking for a condo in London Ontario that is right for you should not be guess work or by luck. I know condos, where they are, the best locations, the better built ones,  the better managed ones, the best values, the safest ones, and buildings or complexes to stay away from.

Because of the volume of business I do, I also from time to time have listings that are not on MLS, it could be because they are doing last minute touch ups or my client knows I have many active buyers ready to buy if the right condo becomes available.

1030 Coronation Drive London Ontario

1030 Coronation Drive is another fine, quality built 182 unit condo apartment building built by Tricar and is in the Hyde Park neighbourhood in North West London Ontario.

Easy access to the University of Western Ontario and downtown London, 2 minutes to the big box stores, restaurants, banks and service providers.

In 2016, there were 20 sales, averaging $258,677 and they took about 61 days to sell which is above the average days on the market in London Ontario. I have researched the 20 units and of those, 17 could either have been marketed better or priced more aggressively.

In 2015 on our MLS system, there were 13 sales, from $245,000 to $285,000 excluding the penthouse suite that sold!

The condo fees include heat, water and air conditioning, there is underground parking, lockers available, an exercise room if you don’t want to use the stairs and a media room to fall asleep if you do use the stairs!

Google Map

Search for 1030 Coronation Drive N6G 5P6

1030 Coronation Drive

1030 Coronation Drive, a complex to relax in

What is the London Ontario Condo Market Like?

What is the London Ontario condo market like now and going forward into the new year? I don’t know about the future, but I can share with you some facts.

London Ontario Condo Market

First off, 1695 condominiums have sold in London Ontario from January 1, 2016 to December 2, 2016 and on average, they took 44 days to sell and received 98.2% of the asking price.

Secondly, there are condo neighbourhoods in London where condos were on the market and sold within 3-5 days, and then there are those that were on the market longer than 90 days. It would seem obvious why some sell quicker than others.

Is it price, style, condition, location, marketing or the colour of the front door or because the moon and stars are not aligned? I don’t know about the last one but I can definitely say price, condition and marketing are why some sell quicker and for money and why some do not.

 I know which complexes, neighbourhoods and condo styles sell quicker than others and more importantly, the best values out there because I am in the market 6-7 days a week and I make it a point to know the market and not guess at it!

With the better condos in London selling for 99.2% or more of asking price, there are still units that can be had for 90 95% of the asking price.

Now the question is, are you a seller or a buyer? Both of you may want to know factual numbers and not opinions from your neighbours, your hair dresser or Uncle Bob who knows someone who knows someone  who was in real estate 7 years ago! (Seriously, I had a couple who took Uncle Bob’s advice! They now have gone through 3 different real estate representatives and their condo is still not sold! What a tragedy.)

As a buyer, knowing the difference between market price and the value price are two separate numbers, or I could add another value, the emotional perceptual value.

So, what is the condo market in London like and what will it be like next years?  For the wise who are willing to listen and take professional advice, very good, for the rest, not good!

Buying a condo in London Ontario should not be guesswork!

Overpriced London Ontario Condos?

Three weeks ago I worked with a couple who were looking for a detached quality one floor condo in London Ontario, either in the north or south end of London. They did not want brand new so that eliminated 21 new builds or to be built leaving 16 to choose from and 6 of them, overpriced London Ontario condos!

         overpriced London Ontario CONDOS?

Doing research , I had found out that  47 similar detached condos in London Ontario had sold at an average asking price of $350,000 and the ones available for sale were in this price range.

With the average days on the market being 46 days and 16 available, that indicated to me and my clients that if we offered a fair price and a quick close, both my clients and the home seller should be happy.

  Unfortunately or fortunately, depending on whose side you are on, when I indicated that my client’s were interested in bringing an offer, it was suggested to me that to get the offer in quickly and be close to asking price because there was lots of activity.

Yeah Right!

Even though these condos were overpriced, (3 of them in the $375,000 range) and on the market longer than the norm!

  My clients were of the same opinion as myself, they were able and ready buyers and eventually we found a seller and their sales person who were able and serious about selling!

  When a condo is for sale in London, there is competition and it should behoove the seller to know what that competition is and how their home stacks up. Buyers know because they are actually seeing units similar to yours and if your price and condition is not in line, you are helping the other condo owners sell their unit!

Note:  2 of those 3 condos did sell, but $20,000 less for one and $27,500 for the other and the 3rd condo,is still for sale!