What You Can Get With an Annual Household Income of $150K in London?

As a general rule of thumb, Ontario lenders will typically approve up to five times a borrower's mortgage amount. This means that if you have an annual household income of $150K then you could potentially qualify for a mortgage of up to $750,000. Considering the fact that the average selling price in London recently went down by another 3% making it $618K, you can rest assured that London now has a lot to offer at a budget-friendly price tag.

If you are someone planning to start a family or simply a young professional looking for opportunities then you will be glad to know that London is often ranked among the top 10 cities of Ontario. This is because with affordable housing, a strong job market and a low cost of living London is a complete package. These are all the reasons why we have compiled a list of recently sold properties that are just the thing you should be on the lookout for when buying a home in London.

DETACHED HOME

• 3+ 1 Bedroom
• 2 Bathrooms
• 1 Garage

Sold within 5 days of listing this was a spacious detached home packed with a fully finished basement in one of the highly desirable neighbourhoods of Whitehills. Brimming with amenities like a gas fireplace, a dedicated dining area and a den just to name a few this house has had a lot of upgrades over the years to keep up with the modern era. Close proximity to some excellent schools and just minutes away from the Masonville Shopping District this house was an absolute steal of a deal.

SEMI-DETACHED

• 3 Bedroom
• 3 Bathrooms
• 1 Garage

Two-storey 1,355 Sqft home with a parking space for up to six vehicles, this semi-detached single family residence was truly one of a kind. Set in a secluded ravine location this home provides ample privacy and a peaceful escape from the city's noise. But that doesn't mean that you live far from amenities, as highways like 401 and LHSC are always easily accessible, ensuring convenience and quick access to essential services and transportation routes. Loaded with features like a European-style eat-in kitchen, a walk-out basement and a gorgeous hot tub atrium, this house offers a luxurious and comfortable lifestyle that's perfect for both daily living and entertaining. Perhaps that's why this house was sold just within 11 days of listing.

TOWNHOUSE

• 3 Bedroom
• 3 Bathrooms
• 1 Garage

Last but far from least is this beautiful townhouse offering more than 1,300 Sqft of living space across a two-storey home. It was such a hot property that it sold in just 10 days after being listed. This sunny corner-lot home offers easy access to Highway 401 and nearby shopping centres like Westwood. The open-concept kitchen is modern and comes with stainless steel appliances and sleek quartz countertops, while the main floor boasts stylish ceramic tiles in the foyer. This house was advertised as the benchmark for comparison with all others, and we believe that statement holds true even today.

Read More: Opening the Door to Homeownership With Government Programs for First-Time Buyers

CONDO APARTMENT

• 2 Bedroom
• 2 Bathrooms
• 2 Garage

Picture yourself residing on the 14th floor of a prestigious high-rise tower, where you'll discover an expansive living space exceeding 1,500 Sqft, brimming with an array of top-notch amenities. Welcome to the experience that awaits the fortunate new occupants of this remarkable apartment. This condo, priced at just $645K, boasts a thoughtful design, complete with an additional private guest room and an inviting spacious balcony. Living here means you get to enjoy facilities like fitness centres, theatre room, outdoor terrace with gas fireplace just to name a few.

Yes, we have more from where that came from!

These were just a few examples of what you can expect with an annual household income of $150,000 in London. But there's a whole lot more waiting for you at The Canadian Home. We're here to cater to all your preferences and provide real-time expert advice whenever you need it, making us your one-stop shop for all your home-buying needs.

And remember, while London is a fantastic choice, it's not the only one when you're searching for affordable homes. Other cities like Waterloo, Guelph, Kingston, Barrie, and Scarborough also offer great options. The best part? We've put together similar lists for these cities too, so be sure to give those a look!