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London City set in Southwestern Ontario is a region’s cultural and recreational hotspot. If you call London home or want to buy a house in London, you may have best of the both worlds.
According to the 2016 census, the population rose to 383,822. London is named after Britain’s city London in 1793 by John Grave Simcoe hoping to make it the capital of Upper Canada.
London has grown to be the largest community of Southwestern Ontario and the 11th largest metropolitan city of Canada. If you are in a quandary of whether to buy a house in London, this article will help you to make up your mind regarding the life-changing decision.
What makes London so special apart from its cultural heritage and rising population? There are mutiple attributes that contribute to settling in London for good.
London is a hub of the most renowned educational institutions like Fanshawe College and Western University. If you or your kids are pursuing college or university studies, London is the best choice to thrive in.
Noted for top medical research and technological advancement, London’s colleges and hospitals are known for the top most employers. 3 of Canada’s highly equipped and advanced hospitals: Victoria hospital, St. Joseph’s hospital, and University Hospital are also set in London allowing its citizens to have the best medical care possible.
Due to its proximity at just 200 km from Toronto and Detroit, London is at the convergence of river Thames making the area a pretty sight for the sore eyes. The riverside parks make the city spectacular to look at and live in.
London locates the well-known children’s museum providing it an edge at both recreational and historical purposes. London offers fun activities in indoor and outdoor steups like winter sports, cricket stadiums, and squirrel fishing in Victoria park. The community authorities arrange annual activities like winter fest gala and concert nights to entertain its citizens.
Finding a place to live in London can be challenging but it’s all worth it. Real estate prices in London are cumulating on a year-over-year basis due to an increase in demand and shortage in supply. People are turning to London for home hunting more than before now because it is providing a facilitative and easy lifestyle. London real estate market is the talk of the town and the price are going higher. The market has seen a 34.6% rise in year-to-year prices in residential properties.
According to a survey, London constructed more houses for 100,000 of its citizens in contrast to other cities in entire Canada! When you are considering residential properties, realtors may show you different options from ready-to-settle in houses to preconstruction houses.
Fully constructed houses are complete houses that need little to no amendments. These houses have the upper hand if you are looking to shift instantly and are satisfied with the pre-built architect of the house. In this choice, you don’t have any room left to design it according to your desire. Heavy on pocket and already used by people before you, make constructed houses a little less desirable.
Preconstruction houses are the houses you buy before they are completely built. These houses can be condos, detached, or townhouses. London real estate market proposes multiple preconstruction houses in every area of the city providing you great opportunity to choose the area and type of home tailored to your needs.
A quandary to buy a preconstruction house or a constructed house? Ah! Decisions, decisions! As uninviting as may sound, this is why preconstruction houses favor you over the constructed house:
1: Better Price
One of the smartest moves related to investing your hard-earned money in a house is buying a preconstruction house. Who shouldn’t want a great piece of construction at a lower price? Preconstruction houses save you a lot of money as compared to constructed houses because the later ones are charged for their high-end renovations.
2: Value for money
Preconstruction houses offer great value for your money. The investment in the preconstruction house is a lucrative idea that pays off multiple folds in the future. In short, it’s a small capital for huge future profit.
3: First movers
Okay now you have bought the preconstruction house, but it’s more benefits are about to welcome you once you step in the house. You are the first mover in the house which makes it less competitive among other buyers. The realtors seem to inflate the fully constructed houses against the continuous reselling thus heating the bidding among buyers.
4: Landscape of renovations
In preconstruction houses, you have a landscape of renovations at your disposal. You have the immense margin to design the exterior and interior of the house according to your taste and affordability. With a fully constructed house comes the pre-renovated interior which may not be according to your liking and palate.
For some of the pre-construction offers in London, contemplate a few of the projects below
Situated at Hyde Park road and Sunning dale road West, London Ontario, this pre-construction project is situated around amazing neighborhood and all the lifestyle essentials like shopping and grocery stores, gym, parks and schools are nearby.
|Building Type||Ownership||Selling status||Ceiling|
|Single family home||Fee simple||Registration||8’0” to 9”0’|
Developed by York Developments, at Savoy Street, London, Savoy Town is newly built Townhouse development with each unit starting from CAD $500,000.
|Building Type||Ownership||Selling Status||Construction Status||Price starts|
Located at 464 Springbank Drive, London, Ontario, Spring bank Lux is a development by Avrancecrop Development.
|Building Type||Selling Status||Construction Status||Amenities||Sales start|
|Condos||Registeration||Preconstruction||Party room, Indoor swimming,
Sauna and gym
London has been topping the charts among the mainstream cities like Toronto and Detroit in constructing more houses for its residents causing a vehement in the real estate market. With such fierce competition to buy homes and mass awareness about the pros of buying pre-construction houses, it is now time that you invest in a preconstruction house to win a house at a nominal price against a highly competitive real estate situation.