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$1,268,000

2268 Greenway Terrace

Burlington, Ontario

3 Bedrooms3 Bathrooms2433 sqft

Magnificent in Millcroft! Located within one of Burlington's most sought-after neighbourhoods, this lovely home features an open concept floor plan that creates a seamless flow throughout the main level, great for everyday living or entertaining family and friends. Full of warm natural light, the freshly updated kitchen is bright and airy and features gleaming quartz countertops and a built-in breakfast bar. Upstairs you will find 3 generously sized bedrooms, including a large primary with its own ensuite. The partially finished lower level provides an abundance of extra space for recreation and storage, and offers further development potential with a rough-in for a 4th bathroom. Enjoy the peaceful surroundings backing onto green space with no rear neighbours, ideal for relaxation and outdoor activities, with access to trails and parks available right from your back gate. Located on a quiet, family-friendly street and just minutes from the prestigious Millcroft Golf and Country Club, this home offers easy access to all major amenities, shopping, schools and highways. This property truly has it all - don't miss out on this incredible opportunity! Furnace and A/C replaced 2022. (id:51158)

For Sale$3,999,000

212 Lakeside Avenue

Burlington, Ontario

4 Bedrooms5 Bathrooms6414 sqft

Luxurious living in this 3+1 bed, 5 bath bungalow! Upon entering you are greeted by an impressive foyer, 7 ½” baseboards, and 8’ solid core doors throughout. The large separate living room is the perfect space for entertaining, a third main level bedroom or a secondary office. The kitchen/living/dining area with vaulted ceilings and in-ceiling speakers, create an immersive experience. Custom millwork, LED and designer lighting showcase meticulous craftsmanship. 7 ½” American walnut hardwood floors throughout the main level while heated tile adds a touch of luxury to the kitchen, foyer and main floor washrooms. The main floor office features built-in wood cabinetry and a custom glass showcase wall or easily convert to a separate dining room. Skylights and wall-to-wall windows in the living room offer stunning views of the backyard oasis. The kitchen is a culinary haven with granite countertops and chefs grade appliances. Retreat to the oversized primary bedroom with custom built-ins, vaulted ceilings, and a walk-out patio. Dual ensuites showcase marble finishes and luxurious spa-like amenities. The lower level is an entertainment haven with a theatre area, gas fireplace, and a 3-piece washroom with a steam shower. Ask about a possible 2 bedroom conversion option! The heated garage is a car enthusiast's dream with enough space for 5 vehicles and features an epoxy floor, cameras, and an EV charger. The exterior is an outdoor oasis with a stamped concrete patio, circular drive, and a beautiful backyard water feature. Fully landscaped, fenced, gated, and boasts a 7-zone irrigation system. This home seamlessly blends luxury, functionality, and environmental stewardship. (id:51158)

For Sale$3,398,000

2409 Lakeshore Road

Burlington, Ontario

6 Bedrooms6 Bathrooms5252 sqft

A pleasant 1km stroll from this brand-new custom built home takes you to Burlington Pier and the lively waterfront with its bustling restaurants, festivals and scenic lakefront promenade. Hidden away up a secluded 100ft tree-lined driveway, this modern, urban chic 5+1 bedroom 3 storey detached residence is flooded with natural light from oversized windows. With 5,250 sq ft of thoughtfully designed living space, this home boasts a practical open-concept layout crafted with premium materials, superior finishes, and unique, subtle details throughout. It is truly one-of-a-kind and could be exactly what you’ve been searching for. Come see us! (id:51158)

For Sale$1,499,000

2060 Lakeshore Road Unit# 802

Burlington, Ontario

3 Bedrooms2 Bathrooms1322 sqft

Experience true luxury living at the prestigious Bridgewater Residences. Become a member of the most sought-after community, enjoying monthly social events and get togethers. This fully upgraded waterfront 1320 sqft corner unit is meticulously designed top to bottom comes with 3 spacious bedrooms & 2 bathrooms, it’s sure to meet all your expectations. The expansive and relaxing open-concept living space, kitchen and dining area are enhanced by a custom gas fireplace and over sized windows that provide ample of natural light. Balcony offers north/east views of the waterfront with morning sunshine and gas hookups for BBQ/firepit/heater. The condo includes a large primary bedroom with a fully upgraded en-suite bathroom featuring heated floors and a walk-in closet. Come and experience resort-style living that comes with 24-hour concierge service, fitness facility, entertaining lounge, 8th-floor rooftop patio, access to the indoor pool, spa and 5* restaurants at the adjacent boutique Pearl Hotel. Also includes 2 side-by-side underground parking spaces as well as a storage locker at the same level as parking. Book your showing today and don’t miss this opportunity. (id:51158)

For Sale$1,765,000

3147 Goodyear Road

Burlington, Ontario

5 Bedrooms5 Bathrooms3295 sqft

PREMIUM LOT!! Welcome to 3147 Goodyear Road, a brand new Sundial built 5 bedroom detached home with 4000sqft. of finished area in the sought after Alton Village neighborhood situated on a premium lot backing onto the park!! Spacious main floor offers a dining room, great room with fireplace, kitchen and breakfast with walk-out to the backyard. Upper floor features a primary bedroom with 5-pc ensuite, along with four additional bedrooms and two 4-pc baths. Open concept Loft offers space for entertainment! Builder finished basement offers recreation room and 4-pc bath. Excellent location close to parks, schools, HWY access and more! (id:51158)

For Sale$1,716,000

3916 Leonardo Street

Burlington, Ontario

4 Bedrooms5 Bathrooms3055 sqft

Step inside this brand new Sundial built 4 bedroom detached 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 parks, schools, HWY access and more! (id:51158)

For Sale$749,900

2200 Glenwood School Drive Unit# 42

Burlington, Ontario

3 Bedrooms2 Bathrooms1224 sqft

Welcome to 2200 Glenwood School Drive Unit 42 in beautiful Burlington, Ontario. Charming and tastefully renovated two-storey, 3 bedroom, 2 bathroom condo townhome, nestled in a private family-friendly complex, offering blend of convenience, functionality, space and comfort. AMAZING LOCATION, VERY CLOSE TO GO TRAIN, QEW, 403, 407, simply a commuter's dream! The kitchen offers new cabinets, quartz countertops, waterfall island and stainless steel appliances. The kitchen area is open to living and dining room area with modern linear fireplace and sliding door to private and completely fenced, cozy patio with deck, perfect for relaxation. Upper level offers 3 spacious bedrooms, beautifully renovated 4 pc bathroom and an upper level laundry. The lower level is fully finished and features a huge recreation room perfect for the family movie night and an abundance of storage. This beautiful but affordable property also has a single car garage with private driveway and plenty of visitor parking. This home is a real gem, so book your personal showing today. (id:51158)

For Sale$509,900

1276 Maple Crossing Boulevard Unit# 310

Burlington, Ontario

1 Bedrooms1 Bathrooms718 sqft

Welcome home to the Grande Regency! This exceptional condo community offers convenience and security all in one package just 3 blocks from the waterfront. Beyond the gated entrance you'll find a well-maintained building with lovely grounds, an on-site superintendent, 24-hour security & loads of amenities for you to enjoy. In the summer take advantage of BBQ's, the outdoor pool, tennis courts & rooftop terrace. Capitalize on the many amenity spaces including a recreation centre with exercise room, sauna, squash courts, party room with kitchen, hobby room, additional laundry facilities & guest suites. Top it all off with two lounges with libraries & a view over the city. This cozy one-bedroom suite has an east facing view overlooking the walking trail that meanders downtown. Enjoy the view while you work from home in the sunroom or create a relaxing space to unwind with a good book. Wall-to-wall windows allow in loads of natural light & create a bright, airy living space. The primary bedroom provides ample space for your furnishings & is complete with a walk-through closet with built-ins to maximize your storage, & leads you to the ensuite bath, which is complete with a separate tub & shower. The unit is accompanied by a storage locker & one underground parking space & your monthly condo fee covers your utilities as well as a premium cable TV & internet package complete with movie channels & Crave. Don't miss your opportunity to get in to this fantastic community. (id:51158)

For Sale$1,229,000

2946 Singleton Common

Burlington, Ontario

2 Bedrooms3 Bathrooms2223 sqft

Welcome to this magnificent freehold raised bungalow, backing onto tranquil green space! Featuring 2 bedrooms and 3 full bathrooms within approximately 2223 square feet of above-grade living space, this home offers a blend of comfort and elegance. The open-concept layout showcases hardwood flooring, 9-foot ceilings, and an abundance of natural light. The stylish white kitchen comes with stainless steel appliances, granite countertops, and a spacious pantry. Entertain guests in the generous living and dining areas that open to a private backyard retreat. The primary bedroom is a haven with a luxurious 5-piece ensuite and a walk-in closet. Additionally, the main floor includes a second bedroom, a 3-piece bathroom, and a convenient laundry area. The walk-out lower level is bright and inviting, featuring large windows, a spacious family room with a gas fireplace, a lovely 4-piece bathroom, a roomy den, and ample storage. Outside, enjoy a single-car garage with great storage, stamped concrete driveway, private backyard with a large wood deck and an aggregate concrete patio. The low-maintenance perennial gardens add a touch of charm. Located in the serene Millcroft community, this home is ideal and is conveniently close to all amenities. Recent updates include a newer furnace and AC (2022) and shingles (2019) (id:51158)

For Sale$615,000

216 Plains Road W Unit# 403b

Burlington, Ontario

1 Bedrooms1 Bathrooms1014 sqft

Welcome to your new home in the desirable Oakland Greens condominium community in highly sought-after Aldershot South. This lovingly maintained 1-bedroom, 1-bath condo apartment on the top floor offers a perfect blend of comfort and convenience in a prime location. The spacious bedroom features a large walk-in closet, providing ample storage space, while the California shutters add a touch of elegance. The open-concept living area is ideal for both relaxation and entertaining, and the convenience of in-suite laundry makes everyday living effortless. This condo comes with an owned underground parking space, ensuring your vehicle is safe and easily accessible. As a resident of Oakland Greens, you'll have access to a beautiful common area building with party rooms, community events and a cozy library. Nestled in the vibrant Aldershot South neighborhood, you're steps to public transit, shopping, dining, with close proximity to LaSalle Park & Marina, Royal Botanical Gardens, and highway access. This condo offers everything you need to enjoy a comfortable lifestyle in one of the areas most desirable communities. Don’t miss out on this incredible opportunity! (id:51158)

For Sale$4,999,900

2642 Bluffs Way

Burlington, Ontario

5 Bedrooms6 Bathrooms4133 sqft

Located in one of the most sought-after enclaves of luxurious homes in The Bluffs, this custom-built 4+1 bedroom, 6 bathroom home offers over 6200 sq. ft. of living space. Situated on approx 2 acres, the property backs onto a protected, lush forest, providing a serene and private setting. Despite its tranquil surroundings, the home is in close proximity to the amenities of urban Burlington. Recently renovated from top to bottom, this exquisite residence combines modern luxury with natural beauty. (id:51158)

For Sale$4,999,900

2642 Bluffs Way

Burlington, Ontario

5 Bedrooms5 Bathrooms

Located in one of the most sought-after enclaves of luxurious homes in ""The Bluffs,"" this custom-built 4+1 bedroom, 6 bathroom home offers over 6200 sq. ft. of living space. Situated on approx 2 acres, the property backs onto a protected, lush forest, providing a serene and private setting. Despite its tranquil surroundings, the home is in close proximity to the amenities of urban Burlington. Recently renovated from top to bottom, this exquisite residence combines modern luxury with natural beauty. (id:51158)