London is a few hours drive from me. Fergus is about 35 minutes. Love Fergus! Its 15 minutes north of Guelph. Great smaller town with amenities that is striking distance to city and jobs. Little pricey because of this-but homes hold their value because its smaller town living close to the city. You can also commute over to Waterloo.
I have been in London a few times only. It has alot going for it. I know 1 expat thought it was lacklaster for landscape(flat). You get alittle more summer storms down that way too. You are getting farther away down in that southern area. If you want to be down in that neck of the woods then you'll do fine. But if you want to be a bit closer to TO without a long, long commute-try one of the cities I have mentioned.
Definitely check out London-but also Guelph, and Kitchener/Waterloo(neighbouring cities that run into each other). Guelph will be priciest. What kind of employmnet are you looking for?