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Buying a House in London Ontario In a Sellers Market

Buying a home in London, Ontario & the area can be an emotional experience &, for some, time-consuming and uncertain. Some house buyers (and their Realtor)  can get caught up in the excitement of buying a house in London, Ontario & tend to overlook some details. Their home purchase then could be an expensive process! There are three fundamental reasons why these things happen, they are:

be Prudent when buying a house in London

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

Here are just a few tips when buying a house in London, Ontario, that can guide you.

                           Making an offer without sufficient information

What price do you offer a seller? Is it in line with other comparable houses you have looked at? Without thorough research of the market and comparables,  you could quickly bid too much, or worse, miss out on a great buying opportunity.

Buying the wrong home

What are you looking for in a home? A simple enough question, but the answer can be quite complicated. More than one buyer has been swept up in the emotion and excitement of the buying process only to find themselves the owner of a home that is either too big or too small. Take the time BEFORE you go out looking at homes to define your wants and needs clearly.

Not Getting Mortgage Pre-approval

Pre-approval is quick, easy and free. Knowing beforehand what you qualify for will help you to avoid disappointment. When you are shopping for a home, this will give you more power; the seller will consider your offer as a serious one.

Hidden Costs

Make sure you identify and budget for the extra costs that can occur ahead of time. A good Realtor will have a detailed expense sheet and go over the additional charges with you. You may want to discuss any extra fees with your lender, lawyer, and any other professional you may use.

You are not done yet.

Take your time.

  • Do you understand your mortgage details?
  • Has anything been forgotten?
  • Do the paperwork and documentation reflect your understanding of the transaction?
  • Will your Realtor and you do a final walkthrough of the property you bought 2-3 days before closing? (You want to ensure that there are no unusual changes in the home’s condition and what is supposed to stay in the property-stays).

The above points are just the tip of the iceberg; below the surface, there is a lot more to buying a home in London, Ontario, than most people realize.

Are You Ready to buy a house in London Ontario?

In a recent survey, 73.8% of Canadians said they either paid too much for their house or condo or made a few mistakes somewhere in the buying process!

Being prepared ahead of time & having the experience of a professional Realtor to guide you will exclude you from the 73.8% club!

Happy Home Buyers London Ontario

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Ty Lacroix

"Not All Realtors Are The Same"! This website and content are for you and are designed and constantly upgraded with the latest real estate trends, how-tos, and what is for sale on MLS. Our primary focus is guiding home buyers and sellers to make good decisions. We believe selling real estate is a process, not an event or knee-jerk reaction; we sleep well at night and ensure our clients do as well! We are not for everybody, nor can we please everybody, nor do we tell people what they want to hear; I know that may be old-fashioned and boring, but we are dealing with hundreds of thousands of your hard-earned money. Would you rather be happy, excited and bored or unhappy, excited and make a poor choice? About Ty I am a Broker with Sutton Group Preferred Realty Inc., Brokerage and the team leader for The Envelope Real Estate Group, that's enough about me! You see, this is about you, you do not want to hear blah blah stuff about awards, designations, or that we walk older adults across the street (I used to help old ladies cross the street, but as I got older I did not want my wife to think I was flirting) the reincarnation of Mother Teresa, walk on water or anything else to impress you. We let the numbers speak for themselves; success leaves clues!

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