51 Townhouse & Town Home Condo Corporations London Ontario
Townhouse condos, townhome condos, freehold condos, condominium residences, aren’t they all the same? There seems to be some confusion about the differences between them and to make the complexity more befuddled if you google all, you will see what I mean.
Different names & meanings, for clarity, in the London Ontario and area, Realtors, builders and lawyers generally define them as the following:
Now, before anyone wants to nitpick me on the above descriptions, I have helped hundreds of buyers and sellers of condos in London, and these definitions worked for them. Take note that your lawyer and the status certificate of the condo corporation and the property you are buying or selling is defined quite clearly in all documents and ownership is defined.
A professional Realtor will have already verified that for you, but then, what do we know, we only see condos every day!
Where To Start?
Most start by going to MLS and picking up all the real estate magazines they can get their hands on & going to open houses or model homes.
That’s an excellent way to get a feel for price and style. But then what? What about specific condo rules, fees and financial stability of the condo corporation, amenities and other questions that should be very important for you to know?
Another alternative is to take advantage of our knowledge and experience with condos & houses in London Ontario and area. Daily, our associates view quite a few condos in London and area & are quite familiar with price, quality, safe neighbourhoods and know the better run condo corporations and some to avoid.
Do you use up a tank of gas or spend hours on MLS going through hundreds of listings?
What about if you could first know what you can get in your price range, learn about the styles, even locations?
Even some common sense ideas?
Below are links to some but not all townhouse condominium residences (townhomes, attached and detached, one floor and more) in London Ontario by price range.
$200,000 to $325,000
$325,000 to $450,000
Before Buying a London Ontario Townhouse or Townhome:
Buying a condominium in London Ontario is far different than buying a single-family home, though similar, you will want to know:
- the condominium regulations?
- the by-laws?
- who are the board of directors?
- what do the condo fees include?
- financial stability of the condo corporation?
- projected large capital expenses?
- when was the last time an onsite engineering study was done?
- 26 other questions you may want an answer for.
Your lawyer has to be more thorough and do more work, your mortgage lender has more preparation, and your Realtor should have an in-depth knowledge of condominiums, it’s fees, by-laws, rules and regulations and what the long-term financial responsibilities you may have to be responsible for, anytime there is a purchase or sale of a condominium.
For many buyers, it can be an expensive process than it need be if they make some of the many common mistakes which trap them into either paying too much, losing their dream condo to another buyer, or worse, buying the wrong one!
A systemized approach to the buying process can help you steer clear of these common traps, allowing you to not only save money and time but ensure your purchase is prudent.
You can tell from reading and viewing our pages that we are not about fancy pictures, bling, pie in the sky promises, we are about systems, knowledge, facts and we ensure your real estate purchase or sale is less stressful.
We are known as condo professionals for a reason!
London Ontario Townhouses Are Popular
Being in a seller’s market, this may be one of the best periods to sell your townhouse or townhome as we see record sale prices.
The demand for quality townhomes is strong, and with more buyers than sellers, prices are rising and most good properties, if priced correctly, are getting multiple offers.
The keywords, ‘priced properly’ is paramount to ensure a smooth and quick sale and of course, the marketing of your home.
Just putting a sign on the property and putting it on MLS is not enough to attract that discriminate and capable buyer for your unit. You can have the brightest billboard in the world but if it is stuck out in the desert where nobody can see it, what good is it?
In a nutshell, a skilled and focused approach will get results, and after many years of getting results for my clients, there is no reason I cannot get results for you.
There is a considerable difference between listing a home for sale and selling a home, that difference is your money, period!
Contact me or give me a call at 519-435-1600 for my exclusive home value analysis, a room by room review and valuation, a thorough process that has proven to get results.
By the way, you do not have to sign anything, you are under no obligation, and you will not get any sales pitches, just a one on one valuation that when I leave (45-55 minutes), you decide who will best be the one to market your home.
Townhouses & Townhomes Construction In London Ontario
Townhouse building in London Ontario and area
2019: 877 units built or under construction
2018: 713 units
2017: 664 built
2016: 287 built
2015: 371 built
2014: 317 built
2013: 282 built
Should You Get a Professional Home Inspection Performed Before You Put Your London Ontario Townhouse On The Market?
Getting a home inspected before it goes on the market seems like a strange thing to do at first glance. Most Realtors don’t even think of having a townhouse or townhome inspected before they list one for sale. But once you understand how it can benefit you the seller, it turns out to be a very prudent decision. Here’s why:
- Home inspections eliminate any “surprises” that can delay or even kill a sale. They also help the seller negotiate better. In most cases, the buyer(s) will use weaknesses of the condo (frequently from an inspection performed after the home is sold conditionally on a home inspection or a status certificate) to negotiate a lower price at a time when the seller is most vulnerable. Rather than become a victim of such tactics, you can show you’ve already taken their issues into account in determining your price.
- Getting an inspection before going on the market allows you to understand the real value – knowing what you may need to fix and what you want to leave alone. It also helps you to price it better and understand what your “net” proceeds will be from a sale. The strengths and weaknesses of your home are going to be known by the buyer at some point anyhow. And the sooner you know them, the more you can act to minimize, eliminate, or adjust for them.
Home inspections ensure a faster close by eliminating contingencies and other issues and help provide a problem-free closing.
- You may also want to order a status certificate BEFORE your condominium is for sale. I would say that 80% of condominium sales in London Ontario are conditional on a status certificate. Again, why not preempt any issues or delays?
Receiving an offer for your London Ontario condominium without any conditions will relieve unimaginable stress for both you and the buyer.