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Buying Your First Home in London, Ontario

Your first purchase comes with a lot of new words and a lot of money at stake. Justin Skrypnyk explains the whole process before you look at a single home, helps you use the programs built for first-time buyers, and points you to the London neighbourhoods where your budget goes furthest.

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What You Can Expect

  • Plain-language walk-through of the whole process
  • Help using the FHSA, RRSP Home Buyers' Plan and Ontario's land transfer tax refund
  • A full budget, including closing costs, not just the down payment
  • Introductions to trusted London mortgage professionals
  • Neighbourhood suggestions that match your price range

The Process

01

Learn the Process

One conversation covering every step, so nothing catches you off guard.

02

Build the Budget

Down payment, programs, closing costs and a comfortable monthly payment.

03

Find the Fit

The London areas where your budget buys the kind of home you want.

04

Buy With Confidence

Viewings, offer, inspection and closing, explained as we go.

First-Time Home Buyers by Neighbourhood

Justin works across London and the towns around it. Pick an area for local prices, listings and what it's like to live there.

Airport Argyle Bostwick Bradley Carling Crumlin Delaware Dorchester Downtown East London Fanshawe Fox Hollow Glanworth Glencairn Hamilton Road Highbury Highland Huron Heights Hyde Park Jackson Komoka/Kilworth Longwoods Masonville Medway Mount Brydges Old North Old Victoria Sharon Creek South London Southcrest Stoneybrook Stoneycreek Strathroy Sunningdale Talbot Thorndale Uplands Westminster Whiteoaks Woodhull

Frequently Asked Questions

Common questions about first-time home buyers in London Ontario.

What programs can first-time buyers use in Ontario?
The main four are the First Home Savings Account (up to $8,000 a year and $40,000 total, tax-free), the RRSP Home Buyers' Plan (up to $60,000 per person since April 2024), the federal First-Time Home Buyers' Tax Credit (worth up to $1,500), and Ontario's land transfer tax refund of up to $4,000. Many buyers can combine several of them.
How much do I need for a down payment?
At least 5% of the first $500,000 and 10% of the portion between $500,000 and $1.5 million. On a $600,000 London home that is $35,000. Homes at $1.5 million or more need 20% down.
What closing costs should a first-time buyer plan for?
Plan for roughly 1.5% to 3% of the price on top of your down payment. That covers land transfer tax (after any first-time refund), legal fees, title insurance, a home inspection, adjustments for prepaid taxes or utilities, and moving costs. The closing cost guide under Mortgages breaks each one down.
Where can first-time buyers afford a home in London?
East London, Hamilton Road, Argyle and parts of Westminster often have the lowest prices for detached homes, and condos and townhouses across the city can bring ownership within reach sooner. Justin can show you what has actually sold in your range recently.

Have a question not answered here?

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Start Your First-Home Plan?

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