Homes for sale under $500,000
At this price you are looking at starter homes, smaller bungalows, condos and mobile or modular homes in land-lease communities, so read each listing for what is included (land, fees, lot rent). First-time buyers should also look at the Ontario land transfer tax refund and the other programs in our first-time buyer guide, and run the numbers in the affordability calculator.
No under $500k right now
Inventory changes every day. Set up an alert and you will hear the morning a matching home is listed.
Listing data provided under copyright by the London and St. Thomas Association of REALTORS® and other participating boards via PropTx. Information is deemed reliable but not guaranteed. Only active listings are shown.
Questions about under $500k
Why do some listings here show a very low price?
Occasionally a listing is entered with a placeholder price, or it is a lot, a mobile home on leased land or a share of a property. Open the listing for the details, or ask us.
What is the minimum down payment at $500,000?
In Canada the minimum down payment is 5% of the first $500,000, so $25,000 on a $500,000 home, and mortgage default insurance applies when you put down less than 20%. The CMHC insurance calculator shows the premium.
Keep looking
- BungalowsOne-floor living: bungalows, raised bungalows and bungalofts across Elgin, Oxford, Norfolk and London.
- New this weekHomes that came onto the MLS® System in the past seven days, across Elgin, Oxford, Norfolk and London.
- Price reducedHomes whose asking price has come down since they were listed
Thinking about a move?
Buying, selling, or curious what your home would sell for today? Call Mark directly or the office, or send a note and we'll get back to you.