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$1,550,000

978 North Shore Boulevard W

Burlington, Ontario

3 Bedrooms1 Bathrooms1278 sqft

Vintage charm meets modern potential - 3-Bedroom home in South Aldershot. This 1939-built 1.5-storey home is your ticket to South Aldershot's serene living. Offering 3 bedrooms and 1 bathroom, it's nestled on a peaceful, tree-lined street. Situated on a generous 50 x 128 foot lot with mature trees, just a stroll away from Lake Ontario and the Royal Botanical Garden, this property is a haven for nature enthusiasts. The 3 bedrooms offer versatility for a family or home office, and the vintage charm throughout invites cosy living. This home is your blank slate, ready to be your forever haven, or reimagined into a modern masterpiece that suits your taste. The spacious lot is a canvas for your outdoor vision, where the mature trees provide a canopy of tranquillity. Location is key, and this property has it all. Within a leisurely walk, you can explore the calming lakeside or immerse yourself in the natural wonders of the Royal Botanical Gardens. Burlington and Hamilton's amenities are at your fingertips, ensuring convenience and comfort with major transit connections, local and big-box shopping, and entertainment opportunities all nearby. Don't let this opportunity slip away. Whether you seek a comfortable family retreat or a renovation project, this home has the potential you're looking for. Schedule a showing, and unlock the charm and possibilities of this treasure. (id:51158)

For Sale$629,900

657 Francis Road Unit# 3

Burlington, Ontario

3 Bedrooms2 Bathrooms1318 sqft

A fantastic opportunity awaits first-time homebuyers or investors, with this 3-bedroom townhouse offering approx. 1,300 sq ft of living space. The spacious, open-concept layout includes 2 bathrooms and a finished basement. The private and quiet patio extends from the dining area. Just minutes from downtown Burlington, Mapleview Shopping Centre, restaurants, Hospital, and parks. Close to the lake, and providing easy access to highways, this home offers both convenience and comfort. (id:51158)

For Sale$1,599,998

4264 Vivaldi Road E

Burlington, Ontario

4 Bedrooms4 Bathrooms3072 sqft

Exceptional, Welcome to this meticulously executive home in Alton Village! Fabulous detached home with double door entry leads you to the welcoming foyer and open concept floor plan with high ceilings. Almost 3,000 sq feet of living space including fully finished basement featuring extra bedroom, full bathroom, built in closets and extra storage. Beautiful family room with gas fireplace and loads of natural light opens to large dining area. Spacious custom kitchen with quartz counters, S/S appliances, valence lighting, pot lights, large island and walk-out to yard. Stunning hardwood staircase leads you upstairs. The second floor features the Family room, you'll also find 4 generously sized bedrooms , primary bedroom, complete with a spa-like ensuite, closets, providing the perfect sanctuary to unwind after a long day. On this floor, a conveniently located and spacious laundry room. The residence is ideally situated in close proximity to all of life's necessities. Easy access to major highways, 403, 407, Plus, it's located near reputable schools and parks, Golf course, shopping plaza's making it an idyllic choice for families or young professionals seeking a blend of comfort, convenience and luxury! you'll enjoy the tranquility of suburban living while being just moments away from the vibrant amenities of Burlington. (id:51158)

For Sale$2,400,000

939 Teal Drive

Burlington, Ontario

5 Bedrooms4 Bathrooms2219 sqft

Custom built designer home in sought after ‘Birdland’ in South Aldershot! This 4+1 bed, 3.5 bath home is the epitome of luxurious modern living. Impressive millwork and built-ins throughout, white oak flooring, and heated floors on all tiled surfaces. The focal point is the gourmet kitchen with 14ft island, gas fireplace, Jenn Air appliances, pot filler and incredible custom Oak hood. Step through the french doors to one of 2 serene backyard spaces. Upstairs the impressive details continue with 2 of the bedrooms featuring vaulted ceilings with beams, custom closets throughout and a full bath with double vanity. The primary bedroom boasts a walk-in-closet, coffee station w/sink and impressive 5-pce ensuite bath with Biagio Italian soaker tub and his/her showers! Convenient mud rm off the garage is perfect for backpacks and coats at the end of the day. Fully finished lower lvl offers a 5th bedroom with ensuite (ideal nanny or in-law suite!), rec room, walk-in wine cellar and wet bar. The mechanicals on this home are just as impressive as its design! A few notables include spray foam insulation, heated garage with EV charger and epoxy flooring, new 200amp panel, upgraded 1” water line from the street, 3 separate gas lines along the perimeter of the home, and fully waterproofed foundation. Enjoy the tranquillity of the neighbourhood with its gorgeous tree canopy and proximity to the waterfront and Burlington Golf & Country Club. Close to downtown, shopping GO Train, and schools. (id:51158)

For SaleOPEN HOUSE$1,549,900

2227 Deyncourt Drive

Burlington, Ontario

3 Bedrooms3 Bathrooms2603 sqft

Beautifully renovated Bungalow on a 65' x 124' private lot in the heart of downtown Burlington. Features include Main Floor Addition with gas stove, Primary Bedroom with 4 piece Ensuite and walk-in closet by Closet Envy, Open Concept Gourmet Kitchen and Fully Finished Lower Level. (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$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$429,900

100 Burloak Drive Unit# 1308

Burlington, Ontario

1 Bedrooms1 Bathrooms795 sqft

Retire in Style steps from Lake Ontario! Freshly painted one bedroom and den unit at Hearthstone by the Lake. Live independently or make use of the numerous amenities available to residents like Wellness Centre, Gym, Dining Room, library, lounge, housekeeping, indoor pool, 24/7 emergency nursing, handyman services, etc. Steps to Lake Ontario and located on the Burlington/Oakville border each unit comes with one underground parking space and a storage locker. Heating, air conditioning, and water is included in condo fees. Note: Club fee of $1672.45 payable monthly in addition to the condo fee. (id:51158)

For Sale$2,199,000

306 Oakwood Court

Burlington, Ontario

5 Bedrooms4 Bathrooms2200 sqft

Gorgeous 2-storey family home with several updates in highly sought after Roseland neighbourhood! This meticulously maintained 4+1 bedroom, 3.5 bathroom has a fully finished basement with walk-up to garage. Nestled on a quiet court with a covered front porch, just steps to John T. Tuck elementary school. Beautifully landscaped backyard oasis with a heated inground pool, pond, gas fire pit and built-in BBQ surround. Floor plan in supplements. Attach Schedule B. (id:51158)

For Sale$12,999,999

5431 Appleby Line

Burlington, Ontario

5 Bedrooms6 Bathrooms

Welcome to your own personal resort style living! Beautiful and meticulously maintained custom built home with 9000 sq ft of living space includes 2 kitchens, 5 Bedrooms and 6 bathrooms. High quality finishes throughout. Large 4 car garage with epoxy flooring. The property offers spectacular and breathtaking views from every angle of the home. The house is surrounded by exquisite landscaping and a salt water pool. It is equipped with 2 hot water tanks, 2 air conditioners and 2 furnaces. A 40x60 work shed is perfect for storage and machinery. The private gate is grand and luxurious. There are many mature fruits trees including apples, pears, plums and grapes. Adjacent to the Burlington Airport. Direct access to Bell School Line and Appleby Line. 88 Acres of flat clear land. Land banking opportunity. Easy access to 407/401/QEW. 5 min drive to the city and shopping. (id:51158)

For Sale$1,980,000

2423 Raymore Drive

Burlington, Ontario

3 Bedrooms4 Bathrooms2110 sqft

Impressive BRAND NEW (2024) custom built Dalzotto home in Burlington's beautiful Central neighbourhood. Located on a quiet cul-de-sac, close to schools, GO Transit, Burlington Centre Mall and Burlington's vibrant downtown waterfront. Open concept main floor with a stunning custom kitchen by Barzotti Woodworking including quartz countertops and featuring LG stainless steel appliances. Gorgeous hardwood floors throughout main floor entryway, living room, kitchen and carried through to the upstairs hallway and into the bedrooms. 3 bedrooms with beautiful, coffered ceilings and each with their own walk-in closet and ensuite bathroom with heated floors! Dream laundry room on the bedroom level with stacked LG washer/dryer, stainless steel undermount sink and plenty of storage/counter space. All of the details have been taken care of! There is nothing to do but move in and make it your HOME! (id:51158)

For Sale$629,888

2055 Upper Middle Road Unit# 1610

Burlington, Ontario

2 Bedrooms2 Bathrooms1075 sqft

Unobstructed panoramic Escarpment view. 40 ft balcony approx additional 200 sq ft, 2 bedrooms, 1242 sqft. Renovated unit in popular Burlington location. Newer flooring throughout. Newer kitchen with granite counters (2019), ensuite locker, laundry, 1.5 baths. Common elements, tennis court, inground pool, library, guest suites, workshop, exercise room, Billiard/party room and more. Minutes to 403, QEW & 407. 1 parking spot underground and 1 above. (id:51158)