Fist time to London

We stayed at the Best Western Corona in the Pimlico district. It was about £80 for a double room but the hotel was nice and having read a range of reviews you could spend a lot more and still end up in a complete dump. This area is within walking distance to Waterloo (although not with luggage) and an area with some pubs/restuarants. I booked it on expedia. Four days should give you a good introduction and visit the must-sees, although you are going to have make priorities. If you can get out Bath then do, it's an interesting city. I'd take thetrain, although it's going to cost more than a coach but should be quicker.

Head's up
Looking to book the Waterloo Hotel, I found that it was much more expensive than I had anticipated!!!
Hostel bookers has them averaging 72.76 EUR a night
When I went on the Waterloo Days Inn website, they quoted an average of 110.2 GBP a night. That's quite the spread.

Now after making all the conversions from CAD to GBP and whatnot, I'm floored. Now I'm considering lowering my hotel budget to around 70 GBP a night so I can see the other places in Europe in comfort. Any other suggestions on where to stay? Thanks.

Try Octopus or expedia, I got my rates on there. Or hotel. There should be something in your price range.

Did you try the hotels Voyager suggested. They are around your budget.

Bath is about 1.5 hours by train or 2.5-3 hours by bus from London. You can do it as a day trip.