August 6, 2026
Bungalow or Condo? The London, Ontario Downsizing Choice That Can Shape Your Next 20 or more Years
Downsizing is not simply a choice between less space and fewer chores. Here is a clear way for London-area homeowners to compare a bungalow and a condo before the decision becomes urgent.
Bungalow or Condo? How London, Ontario Homeowners Should Compare the Two Before Downsizing
You may be ready to leave the upkeep of a larger home behind, but not ready to trade away the way you want to live. That is why the bungalow-versus-condo question deserves more than a quick look at square footage.
In more than thirty years of helping London-area families move, I have watched the same pattern repeat: the homeowners who are happiest a decade later are the ones who chose for an ordinary Tuesday in February, not for moving day. Both property types can make an excellent next home. The difference is in what each one asks of you every week.
Below are the questions that matter most, and how to answer them for your own situation.
Start with the life you want, not the floor plan
What does a bungalow actually give up, and what does it keep?
A bungalow preserves familiar comforts: your own front door, a private yard, room for family to visit, and full control over how the property is maintained. It can deliver one-level living without giving up the independence long-time homeowners tend to value most. What it keeps is responsibility — the roof, the driveway, the furnace, the lawn, the snow.
What does a condo actually simplify?
Snow removal, exterior maintenance, and landscaping are typically handled collectively. You may be closer to amenities, and a lock-and-leave setup makes travel far easier. In exchange, you accept shared decision-making, monthly fees, building rules, and less private outdoor space. Those are real trade-offs, not footnotes.
How do I figure out which one suits me?
Before you view anything, write down what you want a normal week to feel like three years from now. Do you still enjoy gardening, or has it quietly moved to the to-do list? Would a driveway and garage make life easier or just add work? Does an elevator, a walkable errand route, or built-in social contact matter to you?
There is no universal right answer. But those questions usually point in a direction within about ten minutes.
Compare the monthly picture, not the purchase price
Is a condo cheaper than a bungalow?
Not necessarily — and the listing price is the least useful number in the comparison. Entry points do differ substantially by property type. In June 2026, average prices across London and St. Thomas were roughly $663,000 for detached homes, $470,000 for townhouses, and $319,000 for condo apartments. Those are area-wide averages rather than a promise about any specific neighbourhood or building, but they show how far apart the starting lines can be.
A lower purchase price paired with higher monthly obligations can still cost more over ten years. Figures also move month to month, so check the current numbers before you plan around them. To receive monthly updates on London St. Thomas Real Estate statistics, including sales and price fluctuations, email me at newsletter@proton.me.
What belongs in a fair monthly comparison?
For every home on your shortlist, line up the same six items:
- Mortgage payment, if any
- Property taxes
- Utilities and insurance
- Expected repairs and seasonal maintenance
- Condo fees, and specifically what those fees cover
- Parking, storage, and moving costs
For a bungalow, budget honestly for the work you used to do yourself: roof and mechanical systems over time, driveway repair, lawn care, snow clearing, and the repair you did not see coming. Many downsizers discover that “no condo fee” simply means the fee is unscheduled.
What should I ask about condo fees specifically?
Do not stop at the dollar amount. Ask how often the fee has changed and by how much, what the reserve fund study concludes, what major work is planned in the next five to ten years, and whether any special assessment is current or anticipated. A fee that has held steady in a building with a healthy reserve tells you something very different than a low fee in a building that has deferred its roof.
Treat the status certificate as part of the home
What is a status certificate, and why does it matter so much?
If a condo is on your shortlist, the status certificate and its supporting documents deserve the same attention as the kitchen or the view. Together they show the corporation’s financial position, insurance coverage, rules, reserve fund, any lawsuits or claims, and the fees attached to your specific unit. Your lawyer explains the legal and financial implications; your real estate professional helps you frame the practical questions before you write an offer.
What if I am worried about what the documents will say?
This is not about hunting for problems. It is about being able to picture yourself living there with fewer surprises. A well-run building may offer exactly the predictability you are looking for, and the documents are how you confirm it. In my experience, the review either builds confidence or saves someone from a decision they would have regretted — both are good outcomes.
Ask whether you will be comfortable with the people around you
This is the part of downsizing that rarely appears in listings, and it is often what determines whether someone still likes their choice three years later. A home can be perfect on paper and still feel wrong if the rhythm of the neighbourhood or the building does not match your own.
What should I be looking at in the neighbourhood?
Practical, observable things: how quiet the street is on a weekday evening, whether neighbours are out and speaking with each other, how close you are to family, a pharmacy, a place of worship, a grocery store, a bus route, and your doctor. Walk the block at different times of day. Sit in your car for twenty minutes. Visit on a Saturday morning and again after dark.
If you want population-level data — age distribution, household composition, language, income — Statistics Canada’s census profiles are public and searchable by neighbourhood. That information is yours to research and weigh however you like.
Can my realtor tell me about the demographics of an area?
No .Under Ontario’s Human Rights Code and real estate regulation, agents cannot characterize or steer buyers toward or away from neighbourhoods based on protected grounds such as age, ethnic origin, religion, family status, or disability. What I can do is give you facts about the property and the market, point you to public data sources, and help you plan visits so you can form your own impression. That limitation protects everyone, including you. Looking forward to talking to you .
How do I get a feel for a specific building before I commit?
Buildings have personalities. Ask the property manager about the owner-to-tenant ratio, whether the building leans toward long-term residents or frequent turnover, how many units are occupied year-round versus seasonally, and what the rules say about pets, guests, short-term rentals, and renovation hours. Read a year of AGM minutes if you can get them — the recurring complaints tell you what daily life is actually like. Then ride the elevator at 8 a.m. and again at 8 p.m. and see who you meet.
Test every home on a “difficult day”
What is the single best question to ask at a showing?
Stand in the entry and ask yourself:
If it were icy, I were carrying groceries, and a family member needed to stay for a few nights, would this home still work well?
Planning early means you get to choose for comfort instead of reacting to a health change, a sudden repair, or a winter maintenance problem.
What specifically should I check?
In a bungalow: the entry and step height, laundry location, garage access, bathroom layout and door widths, basement stairs, and whether every essential room is on the main level.
In a condo: elevator reliability and distance from your unit, how you get from parking to your door with full hands, visitor parking, balcony safety, noise transfer, in-suite and locker storage, and the rules governing pets and guests.
None of this is glamorous. It is usually what decides whether a new home becomes a lasting fit.
Remember that your current home is half the plan
Should I buy first or sell first?
It depends on your finances and your tolerance for uncertainty, and it is worth deciding deliberately rather than by default. A downsizing move is a two-property plan. Knowing the likely sale range and timing for your present home tells you whether a purchase-first, sale-first, or coordinated strategy is realistic.
That conversation matters most when the next home is a specific bungalow or a well-managed building with only a handful of suitable units. You do not need to rush. You do need a plan that protects your options.
What should I do to my current home before listing it?
Less than most people expect, and rarely the projects they assume. Spending on the wrong improvements before a sale is one of the most common and most expensive downsizing mistakes. I have written a companion piece on exactly this: what to fix before selling your London home.
A current local market analysis, a realistic net-proceeds estimate, and a written list of non-negotiables make the whole search calmer from the first showing onward. If you would like a no-obligation opinion of value on your present home — what it should realistically sell for, in what timeframe, and what you would likely net after costs — I am glad to prepare one for you before you start looking at anything.
You can check out recent sales on my site here For free. Sold Listings https://www.houseforsalelondonontario.com/sold-listings/
A better definition of “right-sized”
The best next home is not automatically the smallest, the newest, or the cheapest. It is the one that leaves enough room for the life you want while shedding the responsibilities you no longer want.
For one homeowner that is a bungalow with a small garden and a spare room for grandchildren. For another it is a condo where the exterior is no longer a weekend concern. Compare both through total monthly cost, daily ease, community fit, and long-term flexibility, and the answer usually stops being difficult.
Frequently asked questions
Is a bungalow or a condo better for aging in place? Either can work. A bungalow offers single-level living with private access but keeps all maintenance responsibility with you. A condo removes exterior maintenance but adds dependence on elevators, shared corridors, and corporation decisions. Assess the specific property rather than the category.
What are the hidden costs of downsizing? Land transfer tax on the purchase, legal fees, moving and downsizing services, storage, new furnishings sized to the space, and — for condos — the possibility of a special assessment. Sellers should also budget for preparation and staging of the current home.
How far ahead should I start planning a downsizing move? Ideally 6 months to a year before you need to move. Planning early lets you choose on your own terms; planning late means choosing under pressure created by health, finances, or a failed repair.
Do condo fees always increase? They generally rise over time with costs and reserve fund requirements. What matters is whether increases have been gradual and well-explained, which the reserve fund study and past budgets will show.
Can I negotiate on a condo the way I would on a house? Yes, though the leverage differs. Building conditions, unit-specific issues found in the status certificate, and how many comparable units are available in the same corporation all affect what is realistic.
If you are weighing a move in London, St. Thomas, Komoka, Kilworth, or Strathroy, I am glad to help you map out both sides of the decision without pressure, so you can move when the next chapter genuinely feels right.
Jim Straughan is a real estate broker with Initia Real Estate in London, Ontario, licensed to trade in real estate since 1990. He works primarily with homeowners plann