London New Homes › First-Time Buyers
Buyer Guide · London, Ontario
What a first-time buyer can actually get in new construction here, what the deposit schedule really demands, and the questions worth asking before you register anywhere.
New construction in London, Ontario starts at $377,184 for a three-bedroom townhome, which puts new builds within reach for many first-time buyers.
STAX Stacked Townhomes — from $377,184. Three bedrooms, 2.5 bathrooms, 1,586–1,771 sq. ft.
Element Towns — from $429,000, move-in ready. Three bedrooms, 3.5 bathrooms, 1,734–1,789 sq. ft., attached garage.
The constraint most first-time buyers hit is not mortgage qualification — it is the staged deposit schedule. Ask for it in writing alongside the price list.
1870 Evans Blvd · Summerside
From $429,000
View Element Towns →Summerside · East London
From $377,184
View STAX →Most first-time buyers plan around the down payment and the mortgage. On new construction, the thing that actually stops people is the deposit schedule — staged payments spread over months, committed long before you get keys.
It varies by builder and community, and it's the single most useful document to get early. If your down payment is still assembling, a schedule that wants several payments in the first six months may rule out a home you'd otherwise qualify for. Ask for it at the same time you ask for the price list; there's no reason to see one without the other.
Rebate and incentive programs change. Verify current eligibility with your lawyer or mortgage professional before budgeting around any of them — we're not tax advisors.
This one costs nothing and is nearly impossible to undo. On new construction the builder pays the buyer representative's commission, so having someone on your side does not raise your price.
But you must name them on your first site visit or registration. Walk in on your own, sign the registration sheet, and you've generally forfeited the ability to add representation later — leaving the builder's agent as the only agent in the transaction. For a first purchase, that's the wrong room to be alone in.
Every one of these has a correct written answer. Any that gets a verbal reassurance instead is the one worth pressing on.
See every new townhome for sale in London, Ontario, or narrow it to new homes under $500,000.
Common Questions
In new construction, the entry point is $377,184 at STAX — a three-bedroom, 2.5-bath stacked townhome. Element Towns starts at $429,000 and is move-in ready with an attached garage.
Both are townhomes. New detached homes in London aren't available under $500,000, so that's the realistic field.
It varies by builder, and the schedule matters more than the total. New construction usually wants staged deposits over several months, not one payment at closing.
For most first-time buyers this is the actual constraint — not qualifying for the mortgage. That money is committed long before you get keys. Get the schedule in writing at the same time as the price list.
No. The builder pays the buyer representative's commission on new construction, so it doesn't raise your price.
The catch is timing, and it's unforgiving: name your representative on your first visit or registration. Register alone and you've generally given up the ability to add one — which leaves the builder's agent as the only agent involved. On a first purchase, that's not where you want to be.
It comes down to whether your moving date is flexible.
Pre-construction is cheaper and lets you choose finishes, but dates move and your deposit is committed years ahead.
Move-in ready costs more — about $52,000 more here — but closes on a date that holds and can be inspected before you buy.
If a six-month slip would genuinely hurt you, pay for the certainty.
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