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. 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$1,349,000

602 Jennifer Crescent

Burlington, Ontario

3 Bedrooms3 Bathrooms1380 sqft

Immerse yourself in a world of modern elegance with this meticulously renovated Backsplit Home. Step inside and discover 1380 square feet of thoughtfully updated living space, where high-end materials and fixtures create a luxurious ambiance throughout. The gourmet kitchen is a chef's dream, featuring premium appliances and finishes that inspire culinary creations. The spa-like bathrooms offer a tranquil retreat, perfect for unwinding after a long day. And whether you're entertaining guests or simply relaxing with family, the open-concept layout fosters a sense of connection and togetherness. This prime Burlington location, south of the highway, places you within easy reach of excellent schools and everyday conveniences, making this stunning residence the perfect place to call home. (id:51158)

For Sale$1,099,900

1310 Ester Drive

Burlington, Ontario

3 Bedrooms2 Bathrooms1084 sqft

1st time ever offered for sale, original owner. This fantastic family home is sure to please. Over 1737 Square feet of finished space, The home features a large modern kitchen, spacious living room, formal dining room, 3 good sized bedrooms, 1 1/2 baths and fully finished basement complete with recroom with cozy fireplace, finished Laundry room, and bonus a room that could be a extra bedroom, workshop, gym, home office or hobby room the choice is yours! The tranquil backyard has manicured gardens, offers plenty of space to bbq on the deck, catch some sun the patio, sit in the shade under the gazebo or splash around in the large in-ground pool, perfect for cooling off on those hot summer days and all this in the highly sought after Tyandaga neighbourhood. This family home is perfectly located close to highway access, Transit, Schools, Parks, Shopping and of course Tyandaga Golf course is a short walk away! This amazing property is sure to please, so book your private showing today before it's gone! (id:51158)

For Sale$1,036,000

1036 Gallagher Road

Burlington, Ontario

4 Bedrooms2 Bathrooms1627 sqft

One owner home in desirable Aldershot neighbourhood. Convenient for commuters and close to schools, GO station, Highway access, RBG, parks and shopping. Major components updated. 4 level sidesplit with full basement. Large yard with workshop/shed and mature gardens. Parking for 4+ vehicles in driveway. Endless opportunities to customize this solid home. RSA (id:51158)

For Sale$1,089,000

5090 Fairview Street Unit# 8

Burlington, Ontario

3 Bedrooms4 Bathrooms2219 sqft

Welcome to this stunning 3-storey detached home in the heart of Burlington, perfectly situated across from the GO station and just steps away from public transit, parks, schools and major amenities. This immaculate, carpet-free residence offers a blend of modern comfort and convenience with 3 spacious bedrooms and 4 total bathrooms. The home boasts a beautifully updated kitchen, refreshed in 2017, featuring stainless steel appliances, a stylish tiled backsplash, central island & ample cupboard space for all your culinary needs. The open-concept design flows seamlessly into the bright and airy living areas, providing the perfect space for family gatherings. The finished basement offers a versatile space ideal for a home office or rec room. It also includes a convenient half bath. Fully fenced backyard is perfect for outdoor relaxation and entertaining. With its prime location and modern updates, this home is not just a residence but a lifestyle. Don’t miss the chance to make it yours! (id:51158)

For Sale$1,499,900

5244 Cedar Springs Road

Burlington, Ontario

3 Bedrooms2 Bathrooms1408 sqft

Welcome to this piece of paradise set on a picturesque 1-acre lot: A nature lover’s dream spot! Meticulously maintained by the original owner for over 58 years, this home has seen four generations of memories and is ready for a new family to fill it with love, laughter, and special moments. There’s even the possibility of multi-generational living within the same dwelling given that the lower level has its own separate walk-out entrance lending potential to make an in-law suite. The fully enclosed sun porch offers a perfect place to enjoy your morning coffee, listening to the sounds of birds filtering in. Very well-cared-for over the years and ample space with an eat-in kitchen, separate dining room, formal living room, full washroom and three bedrooms on the main floor means you can live in this home as it currently is or renovate to your liking. Downstairs provides another large living space with a massive picture frame window overlooking the serene yard, a 2-piece bathroom (previously 3-piece), laundry, plenty of storage plus direct inside access to the garage with an automatic door. Come take advantage of a rare opportunity to own a large parcel of land minutes from downtown Burlington! (id:51158)

For Sale$509,900

2081 Fairview Street Unit# 1404

Burlington, Ontario

1 Bedrooms1 Bathrooms557 sqft

Welcome to Paradigm Condos in prime Burlington! This bright, modern 1-bedroom condo is perfectly located within walking distance to shopping and downtown Burlington's shops, restaurants, lakefront, and beach. Direct access to Burlington GO. Minutes from highways and the mall. Featuring laminate floors throughout, this open-concept unit boasts a spacious kitchen with stainless steel appliances, quartz counters, under-cabinet lighting, ample storage, and an island with a breakfast bar. The living area includes a sliding door walkout to the balcony with views of the lake. The bedroom is an oasis with a spacious closet and floor-to-ceiling windows offering stunning views of downtown Burlington and Lake Ontario. The 4-piece bathroom includes a tub/shower combo and there is in-unit laundry with stacked washer and dryer for convenience. Enjoy incredible building amenities: an indoor pool, hot tub, sauna, steam room, fitness center with indoor basketball, movie theatre, 2 party rooms plus sky lounge, outdoor BBQ patio with eating areas, guest suites, 24-hour concierge, and more! Includes a parking spot and locker. Move right in! (id:51158)

For Sale$1,399,900

2232 Creekview Drive

Burlington, Ontario

4 Bedrooms3 Bathrooms2234 sqft

Discover your new beautiful home on a quiet, family-friendly street in the heart of Millcroft. This well-maintained large 3 + 1 bedroom residence offers everything you desire: An abundance of living space with over 2200 sq ft; Professionally Finished Basement-Perfect for entertainment, additional living space, 4th bedroom or a home office; Fully Fenced Yard-Ensuring privacy & safety for children & pets; Large Deck off the Kitchen with Walkout- Ideal for outdoor dining & relaxation; Hot Tub & Pool - Enjoy year-round luxury and leisure in your own backyard oasis. Don’t miss out on this exceptional opportunity to own a beautiful home in a desirable neighborhood. Furnace and A/C to be replaced Sept 2024. (id:51158)

For Sale$1,499,900

5244 Cedar Springs Road

Burlington, Ontario

3 Bedrooms2 Bathrooms

Welcome to this piece of paradise set on a picturesque 1-acre lot: A nature lovers dream spot! Meticulously maintained by the original owner for over 58 years, this home has seen four generations of memories and is ready for a new family to fill it with love, laughter, and special moments. Theres even the possibility of multi-generational living within the same dwelling given that the lower level has its own separate walk-out entrance lending potential to make an in-law suite. The fully enclosed sun porch offers a perfect place to enjoy your morning coffee, listening to the sounds of birds filtering in. Very well-cared-for over the years and ample space with an eat-in kitchen, separate dining room, formal living room, full washroom and three bedrooms on the main floor means you can live in this home as it currently is or renovate to your liking. Downstairs provides another large living space with a massive picture frame window overlooking the serene yard, a 2-piece bathroom (previously 3-piece), laundry, plenty of storage plus direct inside access to the garage with an automatic door. Come take advantage of a rare opportunity to own a large parcel of land minutes from downtown Burlington! (id:51158)

For Sale$7,500,000

865 Glenwood Avenue

Burlington, Ontario

3 Bedrooms6 Bathrooms7375 sqft

Nestled in a private Muskoka-like setting, this architectural masterpiece offers over 7,000 sqft of unparalleled luxury living. The sound of the waterfall feature will transport you to a place of pure relaxation. Constructed with steel and Coreslab concrete, this home boasts a striking limestone and aluminum exterior setting a new standard in modern design. The airport hanger style garage door with up to 14’ clearance is a collector's dream, complete with a garage lift for showcasing prized vehicles. The personal elevator offers effortless access throughout this already thoughtfully designed bungalow. The chef's dream kitchen is equipped with top-of-the-line appliances, designed to inspire culinary excellence while the lower level catering kitchen is secretly tucked away out of sight. The primary suite is a haven of relaxation with a spa-like ensuite bath, while an actual indoor oasis awaits in the lower level with a swim spa and sauna, promising a retreat-like experience at home. Bamboo and stone feature walls are showcased like works of art, adding a touch of nature's elegance to the interior. Wine connoisseurs will appreciate the temperature-controlled 264 bottle wine cellar, highlighted by a stunning backlit onyx stone display. This luxury residence harmonizes sophisticated design with serene surroundings, creating a unique and exclusive living experience. From its state-of-the-art amenities to its breathtaking architectural details, this home is a true masterpiece. (id:51158)

For Sale$979,900

5232 Stonehaven Drive

Burlington, Ontario

2 Bedrooms4 Bathrooms1544 sqft

Rarely offered completely freehold townhome situated across from John William Boich Parkette in the highly sought after Orchard neighbourhood. This lovingly maintained home has It all. Nine foot ceilings, California shutters, hardwood flooring throughout main floor other than staircase for safety, granite kitchen counter tops, white cabinets with upgraded pot drawers, matching stainless steel appliances, second level laundry, massive primary bedroom with walk In closet and ensuite to match. In the basement find a completely finished space with a powder room for convenience. Outside find a maintenance free space in the front and backyard . Perfect for anyone looking to own a freehold home with little to no exterior maintenance. Situated between the 407 and the 403, and surrounded by schools, parks and shopping centres, 5232 Stonehaven Drive is where convenience and the ideal location meet. (id:51158)

For Sale$1,299,999

4129 Pincay Oaks Lane

Burlington, Ontario

4 Bedrooms4 Bathrooms2894 sqft

Welcome to 4129 Pincay Oaks Lane, a stunning two-storey residence nestled in the heart of Burlington, Ontario. This beautifully landscaped home offers a perfect blend of comfort and style, ideal for families seeking both space and sophistication. Upon entering, you are greeted by the warmth of tile and hardwood flooring and the elegance of crown moulding that extends throughout the home. The main floor features a cozy sitting room, perfect for relaxation or quiet reading, and an inviting living room centered around a charming gas fireplace, creating a cozy ambiance during colder evenings. The kitchen is bright and open space offering ample cabinet space, along with a spacious dining room area. Entertaining is effortless here, whether it's a casual breakfast or a festive dinner with friends and family. Upstairs, the home boasts three bedrooms, offering versatility for guests, an office, or a growing family. Each bedroom is generously sized and bathed in natural light, providing a serene retreat after a long day. The fully finished basement presents additional opportunities to tailor the space to your preferences, whether it be a recreation room, home gym, or media center. The potential is endless, awaiting your personal touch to transform it into the ultimate entertainment zone. Located in a desirable neighbourhood, this home enjoys proximity to a wealth of amenities including shopping centres, close to highway access, parks, schools, library, beautiful walking trails and dining options. The community offers a balance of tranquility and convenience, ensuring both relaxation and accessibility in daily life. 4129 Pincay Oaks Lane is more than just a house; it's a place where comfort meets luxury, where every corner reflects careful attention to detail and quality craftsmanship. Discover the charm and convenience of this exceptional residence – your perfect sanctuary in Burlington awaits! (id:51158)