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$1,275,000

600 Maplehill Drive Unit# 1

Burlington, Ontario

3 Bedrooms3 Bathrooms1551 sqft

Welcome to the ‘Gala Community’ with a French Country feel, rustic warmth & modest farmhouse design. Soon to be built 2-storey end unit townhouse by DiCarlo Homes located in South Burlington on a quiet and child friendly private enclave. The “Spartan” model offers 1551 sq ft, 3 bedrooms, 2+1 bathrooms, high level of craftsmanship including exterior brick, stone, stucco & professionally landscaped with great curb appeal. Main floor features 9 ft high California ceilings, 4-1/8” base boards throughout, Oak handrails/spindles & Satin Nickel door hardware. Open concept kitchen, family room & breakfast area is excellent for entertaining. Choose your custom quality kitchen cabinetry from a variety of options! Kitchen includes premium ceramic tile, double sink with pull out faucet & option to upgrade to pantry & breakfast bar. 2nd floor offers convenient & spacious laundry room. Large primary bedroom has private ensuite with glass shower door, stand alone tub, option to upgrade to double sinks & massive walk-in closet. Additional bedrooms offer fair size layouts and large windows for natural sunlight. All bedrooms include Berber carpet. *Bonus $25,000 in Décor Dollars to be used for upgrades, and Level 1 Hardwood in Great Room and Main Hall (limited time only).* This location is walking distance to parks, trails, schools Burlington Mall & lots more! Just a few minutes highways, downtown and the lake. DiCarlo Homes has built homes for 35 years and standing behind the workmanship along with TARION New Home Warranty program. (id:51158)

For Sale$1,095,900

574 Clark Avenue

Burlington, Ontario

3 Bedrooms2 Bathrooms1950 sqft

SCHEDUL B+C+D MUST ACCOMPANY ALL OFFERS. SOLD 'AS IS, WHERE IS' BASIS. SELLER HAS NO KNOWLEDGE OF UFFI. BUYER IS TO VERIFY TAXES AND ANY RENTAL EQUIPMENT. SELLER MAKES NO REPRESENTATIONS AND/OR WARRANTIES. (id:51158)

For Sale$549,900

5317 Upper Middle Road Unit# 127

Burlington, Ontario

1 Bedrooms1 Bathrooms712 sqft

This main floor corner unit has one of the largest private patios in the building. Wood floors and stone fireplace give the living area a cosy entertaining space. Large bedroom with walk in closet. The roof top is a must see with 3 BBQ's and a putting green. All this and easy highway access. Walking distance to Bronte Creek park. Don't miss this opportunity. (id:51158)

For Sale$5,999,900

2659 2 Side Road

Burlington, Ontario

4 Bedrooms7 Bathrooms6052 sqft

Meet Han Solo & The Terminator in this extraordinary residence at 2659 #2 Side Road in North Burlington. Nestled in an exclusive enclave of multi-million-dollar homes, this custom-built masterpiece offers approximately 8,700 sq ft of finished living space on 2.5 acres. This 4-bedroom, 7-bathroom sanctuary combines comfort and style in a serene setting. The walk-out basement offers a state-of-the-art entertainment area with a futuristic theme, perfect for movie buffs or gamers. It includes an oversized games room, a separate movie theatre with 7.1 surround sound, and a potential 5th bedroom with ample storage. Enjoy outdoor evenings by the fire pit or a leisurely stroll through the nearby Bruce Trail. This property, just minutes from all amenities, blends secluded luxury with modern convenience. Don’t miss the chance to own this beautiful home in Burlington’s most coveted neighborhood. Just add a touch of Hollywood to your luxurious lifestyle. (id:51158)

For Sale$5,999,900

2659 #2 Side Road

Burlington, Ontario

4 Bedrooms7 Bathrooms

Meet Han Solo & The Terminator in this extraordinary residence at 2659 #2 Side Road in North Burlington. Nestled in an exclusive enclave of multi-million-dollar homes, this custom-built masterpiece offers approximately 8,700 sq ft of finished living space on 2.5 acres. This 4-bedroom, 7-bathroom sanctuary combines comfort and style in a serene setting.The walk-out basement offers a state-of-the-art entertainment area with a futuristic theme, perfect for movie buffs or gamers. It includes an oversized games room, a separate movie theatre with 7.1 surround sound, and a potential 5th bedroom with ample storage. Enjoy outdoor evenings by the fire pit or a leisurely stroll through the nearby Bruce Trail. This property, just minutes from all amenities, blends secluded luxury with modern convenience. Dont miss the chance to own this beautiful home in Burlingtons most coveted neighborhood. Just add a touch of Hollywood to your luxurious lifestyle. (id:51158)

For Sale$3,999,900

298 Strathcona Drive

Burlington, Ontario

5 Bedrooms5 Bathrooms4180 sqft

A masterpiece of modern luxury living! Located on a large lot in South Burlington this brand new custom home combines innovative design w/opulent comfort to create a truly extraordinary residence. European Photos inspired design. Entertainer's floor plan. Features include engineered oak flooring, heated flooring in all bathrooms & built-in audio speakers. Living rm w/84-bottle wine room. Family rm w/gas fireplace w/full-height porcelain slab surround. Gourmet kitchen w/chef-grade appls & hidden walk-in pantry! Showstopper floating staircase w/integrated lighting. Principal suite w/vaulted ceiling, spa-like ensuite, walk-in closet & private office. Finished LL w/nanny suite, glass enclosed exercise rm, rec rm, full-size bar & walk out to covered patio w/hot tub. Private rear yard w/outdoor kitchen & saltwater pool. Beyond the fixtures & finishes this home’s construction is truly superior. From dual furnaces & AC units to a heated garage. No detail has been overlooked! (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$1,295,000

3333 New Street Unit# 6

Burlington, Ontario

2 Bedrooms3 Bathrooms1760 sqft

Bright! Open! Dynamic! Complete and total reno 2024.High quality appts & craftmanship on all 3 levels. Top of the line appliances. Vaulted ceiling in Dining & Kitchen areas. Handy Butler’s pantry with lge sink. Stunning bathrooms. LL with wet bar & microwave plus steam shower in 3pce. LL stair railing available. New HWT rental. Refinished double car garage with waterproof plastic wall panels & roughed-in EV charger. Walkout to lovely garden/patio area with awning & gas bbq outlet. Furnace/AC 2022. Beautifully managed & landscaped Roseland Green. Windows 2020, Roof June 2024. Move in and enjoy the luxury. (id:51158)

For Sale$7,350,000

2606 Harvestmoon Lane

Burlington, Ontario

4 Bedrooms5 Bathrooms

The Magnificent Custom-Built Residence Sits. Just Outside The Town Of Burlington And Only 10 Minutes Away From The 401 Highway. The Property Total Privacy And Stunning Views Of The Surrounding Natural Beauty With Mount Nemo With Features Available Basement Bowling Line, And Energy Saving, All electric, Hvac and Secure Alarm With Cameras Smart Control Home System. The interior Is Adorned With Beautiful, And Main Floors All Ceramic Floor Covered By Heated Water Pipes line. Main Floor 2 Full Kitchen. Separate Entrance (id:51158)

For Sale$1,449,000

2381 Lakeshore Road

Burlington, Ontario

5 Bedrooms6 Bathrooms6165 sqft

*TO BE BUILT - LOT AND DESIGN PLANS ONLY* Build your dream home on one of the most coveted streets in Burlington in desirable Roseland neighbourhood just minutes from downtown Burlington and Port Nelson Park on the waterfront. This property and neighbouring one include architectural design plans by SDMA Design & Architecture for a 4320 sq.ft 2.storey above ground detached home PLUS 1835 sq.ft. 1 bedroom in law suite with separate entrance in basement. The preliminary steps have been done for you. Pre building approval near complete with City of Burlington - final step is to apply for building permit. Hire your own builder or use existing one that has each home currently in its 2024 build schedule. Surrounded by mature trees to maintain privacy, with tree protection fencing already in place. Ready to start your dream project? This is the location you have been waiting for! Serious inquiries contact LA for full design and floor plans. Price is for property and design plans only. (id:51158)

For Sale$1,449,000

2379 Lakeshore Road

Burlington, Ontario

5 Bedrooms6 Bathrooms6165 sqft

*TO BE BUILT - LOT AND DESIGN PLANS ONLY* Build your dream home on one of the most coveted streets in Burlington in desirable Roseland neighbourhood just minutes from downtown Burlington and Port Nelson Park on the waterfront. This property and neighbouring one include architectural design plans by SDMA Design & Architecture for a 4320 sq.ft 2.storey above ground detached home PLUS 1835 sq.ft. 1 bedroom in law suite with separate entrance in basement. The preliminary steps have been done for you. Pre building approval near complete with City of Burlington - final step is to apply for building permit. Hire your own builder or use existing one that has each home currently in its 2024 build schedule. Surrounded by mature trees to maintain privacy, with tree protection fencing already in place. Ready to start your dream project? This is the location you have been waiting for! Serious inquiries contact LA for full design and floor plans. Price is for property and design plans only. (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)