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$959,900

2007 James Street Unit# 707

Burlington, Ontario

2 Bedrooms2 Bathrooms1100 sqft

Welcome to this stunning newly constructed condo, a serene oasis that seamlessly combines modern luxury with the convenience of downtown living. Perfectly placed in the heart of downtown Burlington, this 2-bedroom, 2-bathroom condo offers an unparalleled lifestyle experience. As you enter the condo, you are greeted by an open-concept living space that seamlessly connects the living room, dining area, and kitchen. Large windows line the exterior walls (corner unit) allowing natural light to flood the space, while the sprawling private balcony offers partial views of the lake and a front row seat to breathe taking sunsets. The gourmet kitchen is a chef's delight, equipped with high-end stainless steel appliances, modern countertops, ample cabinet space and a large centre island perfect for entertaining. The large primary bedroom boasts a 4pc ensuite and a large walk-in closet and the second bedroom is equally well-appointed, providing a comfortable space for guests or family members. Residents of this condo also have access to an indoor lap pool, yoga and wellness studio, roof top lounge & BBQ area, party room, games room, fitness centre, guest suites, pet wash station, 24 hour security and more! Walking distance to all amenities, the waterfront, local trails and popular shops & restaurants. Book your private showing today! (id:51158)

For Sale$649,000

2075 Amherst Heights Drive Unit# 402

Burlington, Ontario

1 Bedrooms2 Bathrooms1215 sqft

Welcome home to carefree living in this gorgeous condo with spacious balcony and lake views. Clean and classy, spacious and bright, with easy access to 407,403 and QEW for commuters. This is a 2-bedroom sized condo, 1,215 sq. ft. converted into a large one bedroom suite. Primary bedroom is 20 feet long, has a walk in closet and views of the lake. Electric controlled blinds. Renovated main bathroom has a luxurious glassed in shower with multi jet heads, porcelain tiles, and granite top undermount sink and high toilet. The second renovated bathroom is a 2 piece, recently painted with black sink and porcelain tiles. This amazing suite has 9 ft. ceilings, carpet free and in-suite laundry. Located at the end of the hallway, it is quiet. This large eat-in kitchen has high end granite top, double undermount sink, designer colors, stainless steel appliances and a glass backsplash. The blinds are all electric controlled. The underground parking is heated, includes 2 tandem parking spots 50 & 51 and adjacent locker 18. The building amenities security entry a party room with scheduled events, library, fitness center, patio with barbeque area, workshop, car wash, and visitor parking. Condo fee includes, FIBE cable TV, internet, heat, A/C and water, hot and cold. You just need to pay for electric and phone. This home has been lovingly cared for. Condo is being sold with all the furniture, a great advantage for the empty nester. (id:51158)

For Sale$349,900

100 Burloak Drive Unit# 1208

Burlington, Ontario

2 Bedrooms1 Bathrooms795 sqft

Priced to Sell!! Retire in style at Hearthstone by the Lake. This complex offers a multitude of amenities designed to enrich your retirement at a reasonable price. One bedroom and den, one bathroom. Enjoy the dining room, library, lounge (with happy hour!), card room, wellness centre, the list goes on. Stroll the manicured gardens, swim in the pool or curl up in front of the fireplace in the library with a good book. This facility offers emergency nursing, handyman services, a concierge, etc. Each unit has a full kitchen, laundry, one underground parking spot and a locker. Residents pay condo fees plus club fees. (id:51158)

For SaleOPEN HOUSE$1,000,000

665 Drury Lane

Burlington, Ontario

4 Bedrooms2 Bathrooms2140 sqft

This is an incredible opportunity to own a charming, all-brick detached bungalow with a fully equipped in-law suite! The main level welcomes you with a foyer and closet, leading into an open-concept dining and living area with crown moulding and a large picture window that fills the space with natural light. The eat-in kitchen boasts two windows and a floor-to-ceiling pantry, offering ample storage. The main floor also includes three good-sized bedrooms, a refreshed 4-piece bathroom, and a linen closet in the hallway for added storage. A separate side entrance from the carport leads to the fully equipped lower-level in-law suite, complete with a spacious bedroom with “His/Her” closets, a bright living area with pot lights combined with a sleek modern kitchen with Quartz countertops, an undermount sink, and a stylish subway tile backsplash. Also, a large 3-piece bathroom with shower, and a laundry room (shared). This home has been freshly painted in a neutral tone, is carpet-free, and showcases beautiful hardwood floors throughout much of the main level. Updated exterior doors and several windows add to the home's appeal. Outside, the carport and driveway provide parking for up to four vehicles, and the fenced backyard offers plenty of space for children or pets to play, shaded by mature trees, with a storage shed for your outdoor needs. Located in a prime South Burlington area, this home is within walking distance to the YMCA, Central Park, community amenities like sports fields, a playground, a public library, and more! You'll also enjoy proximity to Downtown Burlington's boutique shopping, fine dining, and waterfront activities, with easy access to public transit and major highways. Don’t miss your chance to make this home yours! (id:51158)

For Sale$1,199,900

2290 Woodward Avenue

Burlington, Ontario

5 Bedrooms2 Bathrooms2330 sqft

Welcome to 2290 Woodward Ave! This rare legal duplex is fully renovated to meet all legal requirements, making it an exceptional opportunity for investors or multi-generational living. The main floor features a bright, modern 3-bedroom floorplan with an updated kitchen, bathroom, and large family room perfect for entertaining. The spacious 2-bedroom basement unit has a separate entrance, a new kitchen, new bathroom, and a large family room, making it ideal for guests or rental income. Both units are equipped with separately controlled heating and cooling, and there's shared laundry with separate washers and dryers for both occupants. The large backyard offers two separate fenced spaces for each unit, perfect for outdoor enjoyment and privacy. Located just steps from downtown Burlington, enjoy easy access to shopping, restaurants, the waterfront, and schools. Don't miss out on this stunning property-it's truly a rare find! (id:51158)

For SaleOPEN HOUSE$1,149,999

299 Merle Avenue

Burlington, Ontario

4 Bedrooms2 Bathrooms1516 sqft

Nestled in the tranquil Aldershot Birdland community, where the streets are named after birds, sits this delightful home of 1516 square feet on a 58 x 129 ft lot. It has four bedrooms, two on the main floor and two 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), a newer furnace, many updated windows, recently refinished hardwood floors, as well as fresh interior paint on all levels, updated interior lighting, and a new deck, 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, and the peaceful LaSalle Park with its scenic walking trails through the woods along the lake and the marina. (id:51158)

For Sale$599,000

4040 Upper Middle Road Unit# 310

Burlington, Ontario

2 Bedrooms2 Bathrooms973 sqft

An incredible opportunity for downsizers or first-time buyers in Burlington's desirable Tansley Woods! This beautifully updated 2-bed, 2-bath corner unit condo offers 9-ft ceilings, panoramic windows, and a huge 189 sq ft wrap-around balcony. perfect for enjoying stunning escarpment sunsets. Freshly painted with modern flooring, quartz countertops, and stainless steel appliances, this smart home features 3 custom closets, including a pantry, ensuite closet, and linen closet. Additional shelving has been added to the laundry room, both bedroom closets, and the foyer closet. Includes 1 parking space, a private locker, and is just 5 minutes to the QEW, 9 minutes to the Appleby GO Station, and steps from parks, shops, and trails. Don't miss the fantastic video tour! (id:51158)

For Sale$699,900

2055 Upper Middle Road Unit# 1502

Burlington, Ontario

3 Bedrooms2 Bathrooms1250 sqft

STUNNING 3 BEDROOM 2 BATH UNIT - WITH BREATHTAKING VIEWS OF THE ESCARPMENT & GORGEOUS SUNSETS. RENOVATED & FRESHLY PAINTED Neutral tones, OPEN CONCEPT, CORNER UNIT, in a HIGHLY DESIRED BUILDING. SPOTLESS with a Gourmet white kitchen with breakfast bar, backsplash, SS appliances, & an abundance of cabinets. Quality throughout including california shutters & custom closets. PRIMARY BEDRM features walkin closet & ensuite bath. Numerous amenities & activities at your fingertips. (id:51158)

For Sale$1,499,900

1291 Princeton Crescent

Burlington, Ontario

6 Bedrooms6 Bathrooms2695 sqft

Discover the perfect blend of versatility and comfort in this remarkable bungalow offering 2749 sq ft of total living space. Nestled on a quiet, family-friendly street in Burlington, this rare 6 bedroom home is perfect for growing families or investors. Located near top-rated schools, parks, public transit, and shopping, it’s a prime opportunity in a sought-after neighborhood. The open-concept main floor is bright and inviting, the perfect environment for relaxing or entertaining. The modern kitchen boasts stainless steel appliances, brand new flooring, ample cupboard storage, and a spacious dining area, seamlessly flowing into the living and family rooms. A large window in the living area fills the space with natural light. The primary bedroom is a serene retreat with two oversized windows, walk-in closet, and a 3-pc ensuite featuring a stone-and-glass walk-in shower. Three additional bedrooms, a 2-pc powder room and a stylish shared 3-pc bath complete the main level. The fully finished basement, with a separate entrance, offers excellent potential as an in-law suite or income property. It includes a modern kitchen, rec room, separate laundry, 2-pc bath, and two bedrooms, each with private 3-pc ensuites. Current reliable tenant at $2500/month - willing to stay. Great monthly passive income! This exceptional property combines elegance, functionality, and versatility—don’t miss your chance to make it yours! (id:51158)

For Sale$1,715,000

3905 Koenig Road

Burlington, Ontario

4 Bedrooms5 Bathrooms3055 sqft

Welcome to 3905 Koenig Road, a brand new never lived in Sundial built 4 bedroom home with 3656sqft. of finished area in the sought after Alton Village neighborhood. Spacious main floor features a dining room, great room with fireplace, kitchen and breakfast with walk-out to the backyard. Upper floor offers a primary bedroom with 5-pc ensuite, along with three additional bedrooms and two 4-pc baths. Open concept Loft offers space for entertainment! Builder finished basement offers recreation room, den and 4-pc bath. Excellent location close to HWY access and walking distance to Go Transit, parks, schools and more! (id:51158)

For Sale$999,900

3333 New Street Unit# 133

Burlington, Ontario

3 Bedrooms3 Bathrooms2059 sqft

Super 3 Bedroom, 2.5 Bath Condo in Roseland Green. The Kitchen has an eating/serving bar open to the Dining Room with a bright bay window. Living Room has a corner fireplace and a sliding glass door opening to a spacious, private patio. Primary Bedroom has a renovated Ensuite Bath. There are large walk-in closets in the Primary and second Bedrooms. Finished lower level has storage closets, office, Recreation Room, Workshop area with workbench and Laundry Room. Gas bbq outlet. New windows. Lovely open concept 1592 sq ft. Saphir model. (id:51158)

For Sale$599,000

4140 Foxwood Drive Unit# 205

Burlington, Ontario

2 Bedrooms1 Bathrooms729 sqft

Spacious and inviting 2-bedroom, 1-bath ground-level unit available in a fantastic family friendly neighbourhood! This open-concept home features laminate flooring throughout, a very bright living room with sliding doors overlooking your private terrace, a kitchen with lots of storage, and an updated bathroom. Enjoy the convenience of en-suite laundry and the luxury of TWO side-by-side parking spaces just steps from your private terrace. Located close to public transit, the 407, QEW, schools, parks, and a variety of restaurants and shops, this unit offers everything you need for comfortable living. Don't miss out—this gem won't be available for long! (id:51158)