Burlington luxury home Buying

Home buyers in Burlington can expect a luxury home buying process that is a little different from the traditional process in 2023.

Here is a look at what buyers can expect.

In the Burlington real estate market, 2023 is set to bring a wave of changes that home buyers and sellers can experience. It’s no surprise that the past year has seen large shifts in the way buyers purchase homes and this is expected to continue in the future. In 2023, buyers in Burlington can expect a new, luxury home-buying process that differs from the traditional process already in place. In this article, we will look into some of the changes that may come in the next few years and what it means for buyers in Burlington.

Benefits of Living in and buying a home in Burlington

Before we delve into the new home-buying processes, let’s first take some time to understand what makes Burlington such an attractive place to live. This city offers plenty of amenities such as excellent schools, green spaces, local restaurants and cafes, lively pubs, shopping malls, and much more. Additionally, Burlington’s Lakeshore communities feature stunning waterfront scenery with picturesque views of the bay and bluff trails. The city is also home to several open parks and multi-use trails, making it perfect for young families and outdoor enthusiasts.

The Real Estate Market in 2023

Moving on to the real estate market in 2024, experts predict that things will only be getting better. Demand for homes in the Burlington area is expected to remain strong and inventory is expected to remain low. As a result, home prices are likely to continue rising. The average sale price in Burlington for a detached, single-family home was about $1,079,000 in 2020 and is expected to rise to $1.2 million in 2021.

The Luxury Home Buying Process in 2023

The new luxury home buying process in 2023 will involve increased services and support from local real estate agents. The best real estate agents will be very proactive in their approach by helping buyers find their dream home, negotiating price and staying in close contact with the lender for fast, successful closings. Here are some of the steps buyers can expect to go through in the upcoming process.

Research – When Buying a house in Burlington

The research process is arguably the most important step. This is when buyers should locate an experienced and qualified real estate agent, who can show buyers the best properties in their price range and also provide valuable market information. It’s also important to research lenders and available loan programs, if they haven’t already been pre-approved. Additionally, buyers should also consider their future living costs, start saving for a down payment, and, if necessary, get a mortgage pre-approval prior to the purchase.

Showings

Once buyers are pre-approved, their real estate agent can start to schedule showings for the properties that meet their criteria and match their budget. During the showings, buyers should make sure to take detailed notes and ask strategic questions of their real estate agent to ensure they are making the best decision for their needs.

Evaluation

The evaluation period is when buyers should closely inspect each property and thoroughly assess whether or not it is the ideal home for them. If the evaluation process reveals that it is the ideal home, buyers should THEN consider the following steps carefully:

Preparing an Offer

Now that buyers have identified the ideal home, they can begin preparing an offer. This step involves consulting with the real estate agent to decide whether to start by making a full-price offer or a low-ball offer. Buyers also need to provide a description of their desired closing date along with the earnest money they are willing to put down, which will typically range between 1–10% of the purchase price.

Negotiations and Counter-Offers

Once an offer is made, the seller will either accept it or make a counter-offer. Buyers should be aware that they have the option to counter-offer any proposed counter-offers from the seller. That said, buyers should always consider how much they are willing to pay for the property and be prepared to walk away if a counter-offer is too high for their budget.

Review and Signing

Once negotiations are complete and both buyers and sellers agree on the terms of the contract, the contract documents will be prepared for the buyer’s review and signature (typically done through a digital platform). Usually, buyers will have 24-48 hours to review the documents and discuss their contents with their agent. The agent will also review buyers’ closing costs, which are typically paid at the time of signing. Once both buyers and sellers have signed the documents, they will become binding and the sale will enter into its final phase.

Closing

The final phase prior to ownership is the closing of the sale. During this phase, buyers will be required to pay any closing costs that are due upon signing and submit their deed for recording at the local county clerk’s office. They will also need to arrange for any appropriate home inspections and other due diligence that may be necessary before finalizing the purchase. During this phase, buyers will also be given the opportunity to make a final walkthrough of the property to make sure everything is in order prior to closing.

In 2023, buyers in Burlington can expect to have access to a new, luxury home-buying process that is different from the traditional process. By doing their research, seeking out qualified real estate agents, carefully evaluating potential homes and being strategic when making offers, buyers can ensure that they make the right decision for their needs.

FAQ about Buying a House in Burlington

Q: What are the benefits of living in Burlington?
A: Burlington offers plenty of great amenities, such as excellent schools, green spaces, local restaurants, cafes, pubs, shopping malls, open parks and multi-use trails, and stunning waterfront scenery.

Q: What can home buyers expect from the real estate market in 2023?
A: Home prices are expected to remain strong in the Burlington area and rising. The average sale price for a detached, single-family home in Burlington was $1,079,000 in 2020 and is expected to rise to $1.2 million in 2021.

Q: How will the luxury home-buying process in 2023 differ from the traditional process?
A: Luxury home buyers in 2023 can expect to receive increased services and support from their real estate agents, who will be very proactive in helping buyers find their dream home, negotiating price and staying in close contact with the lender throughout the entire process.

Q: What steps should buyers go through when making an offer on a home?
A: Buyers should start by deciding on their earnest money amount and desired closing date, both of which they should discuss with their real estate agent in advance. Then, buyers should make an offer and may be required to make a counter-offer if the seller proposes one. Finally, buyers should review and sign the contract documents, which will then become legally binding.

Q: Is it important for buyers to do a final walkthrough of the property before closing?
A: Yes, it’s important for buyers to do a final walkthrough of the property before closing to make sure that the condition of the property still meets their expectations. This is the buyers’ last opportunity to address any issues or concerns before the sale is finalized.

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For Sale$639,900

100 Burloak Drive Unit# 2405

Burlington, Ontario

2 Bedrooms2 Bathrooms995 sqft

Retire in style at Hearthstone by the lake. Two bedroom, two bath unit at Hearthstone by the Lake retirement community. 995 Sq feet of living space. Enjoy the GYM, INDOOR POOL, PRIVATE COURTYARD, ONSITE DINING ROOM, AND SO MUCH MORE. This unit is carpet-free, and freshly painted with updated lighting. Ready to move right in. Live independently or take advantage of the many amenities available for your comfort. Steps to Lake Ontario. The monthly Club fee provides a dining room credit, some housekeeping, trips to shopping, many activities, emergency call system, emergency nursing, Each unit comes with full kitchen, in suite laundry, one underground parking space and a storage locker. (id:51158)

For Sale$899,900

1328 Bunnell Drive

Burlington, Ontario

3 Bedrooms2 Bathrooms900 sqft

Perfect starter or downsizing home in Mountainside neighbourhood. Recently updated: vinyl flooring throughout, black granite counter and white kitchen cabinetry, porcelain flooring in main bath. Freshly painted. The lower level has a family room, kitchen w/subway tile backsplach and breakfast island, 3 piece bath and good size windows. storage and laundry room with separate entrance ideal for potential in-law set up. Outside, there is a deck at front, 2 sheds and gazebo in backyard RSA, Abundant parking, close to shopping and easy highway access (id:51158)

For Sale$1,139,000

582 Chamberlain Road

Burlington, Ontario

5 Bedrooms2 Bathrooms2135 sqft

RARE find in the Mature South E. Burlington-LONGMOOR area! This Raised BUNGALOW has is been completed Renovated with a Fully Contained 2-Bedroom (non-conforming) Basement Apartment with full private walkup.... perfect for Multigenerational living, Guests, or easily converted back to a single-family dwelling should it be required. The MAIN LEVEL has a renovated Kitchen with NEW Cabinets, All New Appliances including an Induction Stove, new Solid-Surface Counters and Updated Lighting. There are 3 good-sized Bedrooms & the 4-pc Bathroom with a NEW Vanity, extra-wide Integrated Sink, and Toilet. The bright Livingroom has modern pot lighting and a Large Picture Window which makes this space feel light and airy day or night. The Dining Room has a Modern pendant light with additional Pot Lighting and is open to the Kitchen for easy entertaining. The Basement is complete with a large Primary Bedroom, Den/Bedroom, Living room, Walk-thru 4-pc Bathroom, Stacked Washer/Dryer & Kitchen with Ceramic-top Range/Oven, Side-by-Side Refrigerator, and Eat-At counter with extra Storage below. There is New Easy-care Vinyl-Plank flooring & Trim on both levels. The large backyard has plenty of Entertaining options with a two-tiered Deck, Raised Garden Box & Concrete Patio. There are mature trees that provide privacy on this large Fully-Fenced backyard perfect for family fun. There are 2 Sheds for garden equipment and a lower sheltered area by the backdoor for bicycles, sports equipment etc. The Carport & Double Driveway allows for multi-vehicle parking. Walking Distance to Amenities including public Transit, GO Train, Shopping, Schools, Parks and so much more!! The Freshly Painted neutral décor and modern finishes makes this home move-in ready for immediate occupancy! This home design allows for many possibilities and is ready to make it your new HOME!! (id:51158)

For Sale$2,249,000

5127 Milburough Line

Burlington, Ontario

4 Bedrooms1 Bathrooms

North Burlington property with over 20 acres and 412 feet of frontage in an area of secluded estate homes. Complete privacy yet only a short drive to town. Currently used as horse farm. This property includes a spacious 3 bedroom house, a second modular home with separate heat and septic, and several outbuildings, including a barn, stable, and detached garage. Several paddocks and a half-mile training track make this acreage perfect for equestrians or the hobby farmer. Take advantage of the multiple revenue streams or build your dream home or private family compound! The east side of the property is forested with nature trails to explore, all adjacent to protected conservation area. (id:51158)

For Sale$2,249,000

5127 Milburough Line

Burlington, Ontario

4 Bedrooms1 Bathrooms1700 sqft

24 ACRES IN BURLINGTON! Exceptional rural setting situated amongst multi million dollar homes in the highly sought after area of North Burlington. This 20+ acre parcel of land is operating as a horse farm w/ outbuildings and standardbred training track and paddocks. There is rental income potential from the 2 homes and potential income from horse boarding. Plus there is also 6-7 acres that can be used for farming or vegetables, the possibilities are endless! This property offers an elevated section (in the current location of the mobile home) providing an ideal location to build your dream home offering a full view from the road along with an expansive scenic view of the surrounding nature, trails, fields, trees, wild life and more. A country estate minutes from the city that is completely secluded amongst other executive estates on large parcels of land. Over 400 feet of frontage, 7 acres of farmable land, 5 paddocks, 2 septic tanks, and detached separate trailer w/ own heat source currently renting for $1000/mo. The farm house is in good shape with metal roof and lots of space. The outbuildings include a detached 2 car garage and a huge barn with super high ceilings and newer addition off the back. Stream running through the property and mostly flat land and some wooded area. These opportunities do not come along too often as an investment so come have a look for yourself! (id:51158)

For Sale$1,159,000

415 Locust Street Unit# 1001

Burlington, Ontario

3 Bedrooms2 Bathrooms1620 sqft

Spacious 2 bedroom + den suite in prime downtown core location with stunning views of the lake, waterfront park and city lights beyond! 1,620 sq.ft. Primary bedroom with 4-piece ensuite and walk-in closet, sun room/solarium and an oversized laundry. South/southwest exposure provides loads of natural light. Building amenities include a party room, exercise room, rooftop deck/garden, car wash, sauna and bicycle storage. 2+1 bedrooms, 2 bathrooms, 2 underground parking spaces and 1 storage locker. (id:51158)

For Sale$999,900

574 Clark Avenue

Burlington, Ontario

3 Bedrooms2 Bathrooms1713 sqft

Located in the CORE of downtown Burlington & just steps away from the lake, Spencer Smith Waterfront Park, biking & walking trails leading to Burlington Beach & all the vibrant shops, restaurants & amenities the area has to offer. Commuters have easy access to the Go Train, Highway 403, Hwy 407, and the QEW, connecting them to Toronto, Hamilton, and Niagara. On a quiet street with added privacy, this property backs onto a walking trail that leads to the lake and park. Recently updated this home features a modern kitchen with new cabinetry, quartz countertops, stainless steel appliances, laminate flooring & a walkout from the kitchen to the deck & patio. Upper level laundry room. Basement level ideal storage area only. Property being sold as is where is with no seller warranties, guarantees or representations. Property being sold as is where is with no seller warranties, guarantees or representations. Immediate possession available (id:51158)

For Sale$725,000

5090 Pinedale Avenue Unit# 709

Burlington, Ontario

2 Bedrooms2 Bathrooms1192 sqft

Quiet Oasis In Pinedale Estates! 1,192 Sqft Condo Unit offers 2 Bedroom with Sunroom, 2 full Bathrooms and large balcony all Overlooking the Escarpment! Luxury Vinyl Flooring Throughout. Open Concept InLiving/Dining Area with Walk-out to the open balcony! Large Primary Bedroom Provides 4Pc Ensuite, Walk-InCloset and access to Sunroom. The second bedroom has a large closet and floor-to-ceiling window! FreshlyPainted With Kitchen Updates in 2021! 1 Parking and 2 Massive Lockers. Building secure with Gated Access and Many Amenities: Large Lobby, Party Room, Billiards Room, Hot Tub, Swimming Pool, Sauna Room, Gym and Library! Steps to Community Center, schools, Shopping And Grocery Stores and public transit. Mins drive to Hwy 403 and lakeshore! Bell TV & High-speed wifi is included in condo fee! Book a showing for today! *sqft as per seller. (id:51158)

For Sale$795,000

4122 Palermo Common

Burlington, Ontario

2 Bedrooms2 Bathrooms1350 sqft

Welcome to this beautiful 2-bedroom + den, 2-bathroom townhouse in the desirable South Burlington area, offering a spacious and open-concept layout perfect for modern living. The home opens into a versatile den, perfect for a home office or additional living area. The inviting main 2ndfloor features an open concept floor plan with a good size kitchen & Dining area that flows seamlessly into the living space, leading to a open balcony, ideal for relaxing or entertaining. Conveniently located close to Appleby GO station, bus stops, and Highway QEW for easy commuting, this home is also steps from grocery stores, parks, and other essential amenities. A fantastic opportunity to live in a prime area! (id:51158)

For Sale$1,089,000

5144 Porter Street

Burlington, Ontario

3 Bedrooms3 Bathrooms1704 sqft

Over 1700 square feet plus finished basement! This semi-detached home is located on beautiful Porter St in Burlington’s sought after Corporate neighborhood.. Two full baths including a large ensuite plus a main floor powder room. Three large bedrooms one with an ensuite and one with walkout balcony with new rail, large open stairway and bright open concept living makes this home feel huge! Convenient inside entry from garage and over 100 feet of depth allowing for a large and sunny yard. Features include: Sump pump, main floor laundry, newer roof, doors and windows. Upper flooring(2024) lighting upgraded (2024) garage door(2024) New walk out patio rail. Stainless undermount sink and stainless appliances. Front concrete steps (2024) plus the furnace , AC and water heater were all bought out. Nothing to rent! A truly great home. (id:51158)

For Sale$834,000

5070 Pinedale Avenue Unit# 1207

Burlington, Ontario

2 Bedrooms2 Bathrooms1149 sqft

Prepare to be amazed by this stunning 2-bedroom, 2-bathroom split-layout condo, thoughtfully upgraded with over $200,000 in luxurious enhancements. From the moment you step inside, you’ll notice the exceptional craftsmanship and attention to detail that set this home apart. The elegant eat-in kitchen shines with bright white cabinetry, a chic backsplash, and premium finishes, creating the perfect space to entertain or unwind. The open-concept living and dining area features breathtaking floor-to-ceiling windows that frame peaceful green space views and lead to your private balcony oasis. Both bedrooms are generously sized, offering wall-to-wall closets and convenient ensuite bathroom access. The sunlit solarium, with direct balcony access, is ideal for a stylish home office or a flexible space to suit your lifestyle. Additional features include ensuite laundry with a stacked washer and dryer, a large storage locker, and 2 parking spaces for ultimate convenience. Nestled in a prime Burlington location, you're moments away from vibrant shops, dining, Fortinos, and seamless highway access. Plus, enjoy the unmatched amenities, including a library, gym, indoor pool, games room, and more—a perfect blend of comfort and community. This upgraded gem is a rare find—don’t let it slip away! Schedule your private viewing today! (id:51158)

For Sale$1,664,900

2273 Turnberry Road Unit# 14

Burlington, Ontario

4 Bedrooms4 Bathrooms2062 sqft

Welcome to Luxury living in the sought-after golf Community of Millcroft. This is a premium 4 Bedroom, 4 Bath townhome offering over 2,400 sq.ft of total living space (2,062 sq.ft above ground) plus a 230 sq.ft terrace. 9 foot tall ceilings across all three levels and the basement. Convenience of a large double car garage (With EV Charger Rough-in) and rare double driveway totalling 4 parking spaces. The main floor features a spacious bedroom with full ensuite bath and mud-room with access to garage. The second floor offers an open-concept layout with wide-plank hardwood flooring, large eat-in kitchen with custom painted island, premium cabinets and walk-out to the large terrace (with bbq gas line). Massive family room with oversized floor-to-ceiling windows. Three more large bedrooms and two bathrooms on the third floor including a spacious primary suite with en-suite bath and sitting area. Fully finished basement with 9 foot ceilings, wet-bar and premium laminate flooring. Upgrades include Upgrade to 200 Amp Service, Central-Vac rough-in, Security System Rough-in, premium bath vanities with quartz countertops, Sound-Dampening Insulation in Interior Walls, Safe & Sound Door at Master Bedroom,Ensuite & Main Bath, Second Set Laundry Connections in Basement, kitchen gas line. Book a showing today! (id:51158)