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$1,300,000

4867 Verdi Street

Burlington, Ontario

4 Bedrooms3 Bathrooms1944 sqft

ALTON VILLAGE PROPERTY STUNNING 4 BEDROOM LINK HOME WITH SPACIOUS ENTRANCE. LARGEST LOT ON THE STREET. LARGE BREAKFAST AREA WITH WALK OUT TO LARGE BACKYARD. LARGE FAMILY AND LIVING ROOMS. NEW STAIRCASE, UPDATED FLOORS AND PAINT. JUST MOVE IN AND ENJOY. (id:51158)

For Sale$519,900

5240 Dundas Street Unit# B414

Burlington, Ontario

2 Bedrooms1 Bathrooms619 sqft

Welcome to the prestigious Link Condos, where iconic European-inspired architecture meets contemporary luxury. This upgraded one-bedroom unit in the award-winning ADI Link building boasts sleek modern finishes and an array of indulgent amenities designed to elevate your lifestyle. Enjoy serene ravine views from the rooftop terrace, perfect for entertaining or relaxing in style. Host memorable gatherings in the state-of-the-art demonstration kitchen or unwind with world-class spa amenities, including a sauna and a fully-equipped fitness center. Ideally located adjacent to Bronte Creek and just steps away from shops, dining, and easy access to major highways and transit, this residence offers unparalleled convenience. Additional on-site conveniences include a family clinic, pharmacy, and dentist within the main level commercial area. (id:51158)

For Sale$839,999

5250 Lakeshore Road Unit# 908

Burlington, Ontario

2 Bedrooms1 Bathrooms1419 sqft

This lakefront condo in Burlington offers a tranquil and luxurious lifestyle with stunning views of Lake Ontario. The unit has been meticulously maintained and features several upgrades, making it a truly special place to call home. The open concept living room and dining room provide plenty of space for entertaining guests, with access to a balcony where you can enjoy breathtaking sunrises over the lake. This feature is perfect for starting your day off right with a stunning view. The building offers a variety of amenities for residents to enjoy, including an outdoor pool, exercise room, games/party room, workshop, and male/female saunas. These facilities provide the perfect opportunity to stay active, socialize with neighbors, and unwind after a long day. Whether you are looking for a peaceful retreat to enjoy retirement or a stylish space to entertain friends and family, this lakefront condo has it all. Don't miss this opportunity to own a piece of paradise with direct views of Lake Ontario. Contact me today to schedule a viewing and experience the beauty of lakeside living for yourself. (id:51158)

For Sale$3,449,000

445 Elizabeth Street Unit# Ph1

Burlington, Ontario

3 Bedrooms3 Bathrooms3168 sqft

UNCOMPROMISING LUXURY PENTHOUSE - This stunning one-of-a-kind suite in downtown Burlington, located in the private 13-suite prestigious boutique condo. The well-appointed suite features 3-bed, 2.5-bath, approx 3168 sqft with 4-private terraces with heated floors, each with views of the lake and downtown. Enter the double entry doors into the foyer with marble floors, you’re greeted by the expansive Great Room with 21’ high dome ceiling with crystal chandelier and gas fireplace. Chef inspired kitchen with built-in Miele appliances, custom cabinetry, island seating & sliding patio doors leading to terrace. Separate formal dining room with decorative ceiling detail and chandelier. The 1st bedroom features sliding patio doors to the private terrace, walk-in closet and 2pc ensuite. Down the hall is the 2nd bedroom, laundry room & gorgeous 4pc bathroom with soaker tub. The primary bedroom is a sanctuary featuring his and her walk-in closets with custom built-ins, spa inspired bathroom with large shower, separate water closet, lounge area and walkout to a private terrace. This suite is flooded with natural light, featuring 11’ ceilings, hardwood and marble flooring and integrated Bang & Olufsen sound system. 2 underground parking spaces & locker. The perfect alternative to the large luxury home, ideal for those downsizing. Steps to fine dining, shops, Performing Arts Centre, Spencer Smith Waterfront Park, fitness, hospital QEW, 403, 407 and GO. *Dogs not permitted. (id:51158)

For Sale$850,000

5188 Lakeshore Road Unit# 102

Burlington, Ontario

2 Bedrooms2 Bathrooms1386 sqft

Welcome to 5188 Lakeshore Road Unit 102, in the prestigious Waterford Place. Offering lakefront living close to all amenities. This spacious 2-bed +den, 2-bath suite offers 1386sqft of functional living space. Perfect for those looking to downsize or enjoy the perks of condominium living. The builder took full advantage when building this corner unit providing tons of natural light. Spacious open concept floor plan including kitchen with granite breakfast bar. The sliding door leads out to the lovely exterior patio which allows you take full advantage of that lake breeze. The large primary retreat offers double closets plus a private ensuite. Don't miss the opportunity to call this house your home, book your private showing today. (id:51158)

For Sale$1,799,000

599 Cumberland Avenue

Burlington, Ontario

5 Bedrooms3 Bathrooms2995 sqft

Beautifully updated family home in S Burlington, where classic charm meets modern convenience. Walk to schools, parks & amenities w easy access to hwys and transit. This property sits on an oversized lot and features a unique detached garage/barn w 2nd story— endless potential to convert into an office, in-law suite, workshop or studio. Inside, find loads of character, charm and updated details in keeping with original character of the home. A grand foyer with soaring ceilings and abundant natural light welcomes you. The main floor showcases hardwood & ceramic tile, a spacious eat-in kitchen w granite counters, built-in fridge, SS appliances & custom cabinetry. The adjacent butler’s pantry/library offers built-in cabinetry & bar area. A large dining room and family room with a fireplace provide ample space for gatherings. Upstairs, find hardwood floors and skylight(‘23) plus vaulted ceilings in upstairs hall and bedrooms. The generous primary suite feat bay window & spa-inspired updated ensuite w freestanding tub, double vanity & glass shower. 3 additional bedrooms & full bathroom complete this level. The fully finished LL, updated with luxury vinyl flooring (‘24), incl pot lights & rec room. Recent upgrades include high-end vinyl windows (2023/2024), a new front door (2024), a beautiful new front porch railing, elegant new back french doors, a new powder room (2024), and eavestroughs/downspouts on the barn (2023). The backyard features a fenced area with a patio, pergola & easy access to the barn/garage. UPDATES: high-end vinyl windows (‘23/’24), front door (‘24), powder room (‘24), eavestroughs/downspouts on the barn (‘23). This home combines character, charm, and limitless potential (id:51158)

For Sale$1,399,000

2344 Woodward Avenue

Burlington, Ontario

3 Bedrooms2 Bathrooms1348 sqft

Amazing 2 story home in a fantastic south Burlington location! This 3-bedroom, 1.5 bath home is approximately 1,350 square feet and sits on an oversized 50 ft x 150 ft lot! This home has been beautifully maintained / updated inside and out. The main floor of the home boasts plenty of natural light with hardwood flooring throughout. The spacious living room leads to a well sized dining room. The spacious kitchen features white cabinetry, quartz countertops, a white tile backsplash and is completely open to the family room! The main level also has a spacious powder room and a mud room with access to the backyard oasis! The second floor of the home features 3 bedrooms and a 4-piece bathroom. The unfinished lower level includes laundry and plenty of storage space! The exterior of the home features a beautiful backyard with mature landscaping, a wood deck and 2 large storage sheds! There is parking for six vehicles on the driveway and there are no rear neighbours! This home is located close to all amenities, the GO station, highways and downtown Burlington! (id:51158)

For Sale$1,200,000

473 Blathwayte Lane

Burlington, Ontario

1 Bedrooms2 Bathrooms900 sqft

Location, Location! Downtown Burlington. No Condo Fees. Rare Freehold Loft Townhouse in Mint Condition. A pleasure to show! (id:51158)

For Sale$1,299,900

299 Merle Avenue

Burlington, Ontario

4 Bedrooms2 Bathrooms1516 sqft

Nestled in the tranquil Birdland community, this delightful home on a 58 x 129 ft lot boasts 4 bedrooms, with 2 situated on the main floor and 2 upstairs. Each level is equipped with a full bath for added convenience. The unique layout of the main floor bedrooms makes this home perfect for empty nesters or first time buyers, offering the potential for a main floor office and a guest room. The spacious living room and dining area are adorned with a wood-burning fireplace, creating a cozy atmosphere. The kitchen has been updated with granite counters, a double undermount sink, and wood cabinetry. Accessible from the kitchen, a newly constructed deck provides a perfect spot for enjoying the serene view of the expansive private fenced backyard. The property has undergone multiple updates, including the roof (‘17), AC (‘21), newer furnace, many updated windows, recently refinished hardwood floors, as well as fresh interior paint on all levels, exterior waterproofing, and updated interior lighting, all completed in 2024. The generously-sized driveway can accommodate ample parking, and guests are greeted by a curved walkway leading to the front entry. Located in the prestigious South Aldershot neighbourhood, residents can enjoy easy access to shops and restaurants, waterfront trails, the picturesque Royal Botanical Gardens, the renowned Burlington Golf & Country Club, as well as the peaceful LaSalle Park with its scenic walking trails through the woods along the lake and the marina. (id:51158)

For Sale$2,799,000

2501 #1 Side Road

Burlington, Ontario

4 Bedrooms4 Bathrooms3817 sqft

Nestled on 1.66 acres of privacy, this charming property offers the tranquility of rural living with easy access to all essential amenities. Discover a spacious 4 bedroom, 1½ storey home boasting approx 4,700 sqft of finished living space, accessible via a secluded 400ft paved driveway. Dbl car attached garage & a separate oversized detached garage. Thoughtfully upgraded & meticulously maintained, each room offers breathtaking views of the scenic landscaped grounds. The main flr features formal living & dining areas, a cozy separate family rm overlooking the pond & a modern kitchen with an eat-in area with complete privacy. Unwind in the spacious primary suite with a private patio or accommodate guests in the main flr study with an ensuite bathrm. Upstairs, find two well-sized bedrms, a main bathrm, and a versatile, unspoiled hobby room, additional study or a 5th bedrm. The lower lvl offers a recreation room, games room, along with a workshop and ample storage space. Benefit from geo-thermal heating and cooling, ensuring cost-effective comfort year-round. Enjoy the convenience of a driveway that can hold numerous cars, a large dble garage and a separate oversized single garage for all your toys and tools. Relax on a patio or simply enjoy the pond setting where this peaceful sanctuary allows you to unwind, destress and connect with nature. 2501 #1 Side Rd is more than just a place to live, it's a lifestyle in itself. Experience all the features this country home has to offer. (id:51158)

For Sale$2,799,000

2501 #1 Side Road

Burlington, Ontario

4 Bedrooms4 Bathrooms

Nestled on 1.66 acres of privacy, this charming property offers the tranquility of rural living with easy access to all essential amenities. Discover a spacious 4 bedroom, 1 storey home boasting approx 4,700 sqft of finished living space, accessible via a secluded 400ft paved driveway. Dbl car attached garage & a separate oversized detached garage. Thoughtfully upgraded & meticulously maintained, each room offers breathtaking views of the scenic landscaped grounds. The main flr features formal living & dining areas, a cozy separate family rm overlooking the pond & a modern kitchen with an eat-in area with complete privacy. Unwind in the spacious primary suite with a private patio or accommodate guests in the main flr study with an ensuite bathrm. Upstairs, find two well-sized bedrms, a main bathrm, and a versatile, unspoiled hobby room, additional study or a 5th bedrm. The lower lvl offers a recreation room, games room, along with a workshop and ample storage space. Benefit from geo-thermal heating and cooling, ensuring cost-effective comfort year-round. Enjoy the convenience of a driveway that can hold numerous cars, a large dble garage and a separate oversized single garage for all your toys and tools. Relax on a patio or simply enjoy the pond setting where this peaceful sanctuary allows you to unwind, destress and connect with nature. 2501 #1 Side Rd is more than just a place to live, it's a lifestyle in itself. Experience all the features this country home has to offer. (id:51158)

For Sale$525,000

5230 Dundas Street Unit# A428

Burlington, Ontario

2 Bedrooms1 Bathrooms574 sqft

Welcome to this super cute one bedroom plus den, 574 square foot condo in Burlington’s popular LINK building. Perfect for first time buyers or down-sizers, this condo has modern European finishes, vinyl plank flooring, a stainless-steel fridge, oven and range and convenient in-suite washer & dryer. Enjoy north views off the covered balcony overlooking the Niagara Escarpment. The LINK building offers all the amenities you could want: concierge, gym, party room, plunge pools, sauna and BBQ’s with sitting areas. The location can’t be beat, as it is just mere steps away from the biking and hiking at Bronte Creek Provincial Park and a short drive to QEW/403/407, Appleby GO station and tons of shopping, grocery and dining options. Don’t be TOO LATE*! *REG TM. RSA. (id:51158)