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 $490,000

1270 Maple Crossing Boulevard Unit# 306

Burlington, Ontario

1 Bedroom 1 Bathroom 672 sqft

Welcome to this stunning 1 bedroom, 1 bath condo unit in a prime downtown location! With 672 sq/ft of spacious living area, this unit boasts a kitchen with upgraded appliances, a recently renovated washroom featuring a brand new shower, a living room, and a den/ sunroom; perfect for a home office. Large windows flood the space with natural light, creating a warm and inviting atmosphere. This condo includes one parking spot and one locker. The building amenities are exceptional, offering a concierge, pool, exercise room, squash and tennis courts, a party room, BBQ area and sauna. You'll love the convenience of being just steps away from Spencer Smith Park, the hospital, shopping, restaurants, the GO station, and more. Don’t miss out on this incredible opportunity to live in the heart of it all! (id:51158)
Homes for sale in Burlington

For sale $1,175,000

2007 James Street Unit# 707

Burlington, Ontario

2 Bedroom 2 Bathroom 1100 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, granite 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)
Homes for sale in Burlington

For sale $1,089,000

5090 Fairview Street Unit# 8

Burlington, Ontario

3 Bedroom 4 Bathroom 2219 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)
Homes for sale in Burlington

For sale $2,790,000

360 North Shore Boulevard E

Burlington, Ontario

6 Bedroom 4 Bathroom 2238 sqft

Live in luxury just steps away from Lake Ontario! This stunning 4+2 bedroom, 3+1 bathroom Bungalow in Burlington's Aldershot neighbourhood is the epitome of elegance, featuring over 3,300sqft of living space, a gourmet kitchen, updated bathrooms with heated floors, rich hardwood floors, gas fireplace, wainscoting, and a bright fully finished basement. The private oversized 143x145ft lot is a haven for outdoor enthusiast; relax in the hot tub, enjoy beautiful bay views and private access to the lake, perfect for canoeing or other watersports. Situated directly beside the prestigious Burlington Golf and Country Club, this home is conveniently close to local shops, highways, La Salle Park, and only a 5 minute drive to Downtown Burlington. Don't miss out on your chance to own this one-of-a-kind home. (id:51158)
Homes for sale in Burlington

For sale $2,425,000

4306 Lakeshore Road

Burlington, Ontario

5 Bedroom 3 Bathroom 2133 sqft

Truly a rare find! This south-facing, beautifully renovated Bungalow on the South side of Lakeshore Rd has a bright floor plan with a lower-level walkout to a heated double garage and a mature pool size lot. 3,756 sq ft of total living space, renovated to perfection, including custom woodworking, rich hardwood flooring, pot lighting, and a gourmet custom kitchen with an island open to the family room with access to the backyard and gas hookup. Extensive list of upgrades, plenty of closets and additional storage. 3+2 bedrooms is ideal for empty nesters or a family. Incredible lower level that can act as a in-law suite with a separate entrance and walk out. Access to the waterfront is available through a deeded 11-foot access. An absolute Gem of a home! (id:51158)
Homes for sale in Burlington

For sale $1,499,900

5244 Cedar Springs Road

Burlington, Ontario

3 Bedroom 2 Bathroom 1408 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)
Homes for sale in Burlington

For sale $509,900

2081 Fairview Street Unit# 1404

Burlington, Ontario

1 Bedroom 1 Bathroom 557 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)
Homes for sale in Burlington

For sale $1,399,900

2232 Creekview Drive

Burlington, Ontario

4 Bedroom 3 Bathroom 2234 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)
Homes for sale in Burlington

For sale $1,499,900

5244 Cedar Springs Road

Burlington, Ontario

3 Bedroom 2 Bathroom

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)
Homes for sale in Burlington

For sale $1,655,000

154 Hendrie Avenue

Burlington, Ontario

4 Bedroom 4 Bathroom 2304 sqft

Discover this beautifully cared-for family home, designed to accommodate the needs of a large family with ease. This home is a true retreat with 4 bedrooms, 2+2 bathrooms, including a primary suite with a 3pc ensuite & walk-in closet! The inviting eat-in kitchen serves as the heart of the home, equipped with S/S appliances, a breakfast bar, and large window above the sink! Multiple walk-outs lead to a fully fenced backyard, complete with a delightful cabana, inground saltwater pool, epitomizing relaxed living. The main level includes a bedroom, a 2pc bath, laundry facilities & walkout while the upper level boasts two additional sunlit bedrooms and a 4pc family bathroom. Located in the desirable Aldershot Village, this corner lot home is just moments away from local attractions such as La Salle Park & Splash Pad and Pier 34, with public transit within walking distance. A quick drive brings you to the Royal Botanical Gardens and easy access to HWY 403. With an impressive 3500 sqft of total living space, warmed by two gas fireplaces, the lower level offers flexible areas ideal for a teen retreat, home office, workout space, and an additional 2-piece bathroom. Enjoy the proximity to nearby schools, including Aldershot School, and the local amenities that this prime location provides. Don’t miss the opportunity to claim your piece of suburban paradise, where every aspect enhances a lifestyle of comfort and elegance. (id:51158)
Homes for sale in Burlington

For sale $479,900

2087 Fairview Street Unit# 504

Burlington, Ontario

1 Bedroom 1 Bathroom 555 sqft

One bedroom open concept luxury condominium in prime location in Burlington! Located right beside Go Train & Go Buses, Walmart, Public Transit, minutes from Downtown Burlington. Featuring terrace access from bedroom & living room, quartz countertops, vinyl flooring, 24 hours concierge, indoor pool, party room, gym, rooftop deck, visitor parking, guest suites, BBQ area & green space! (id:51158)
Homes for sale in Burlington

For sale OPEN HOUSE $999,000

2165 Itabashi Way Unit# 14

Burlington, Ontario

4 Bedroom 4 Bathroom 1685 sqft

Spacious and bright 1685 sq ft bungaloft in the Villages of Brantwell, Tansley Woods. This townhome features soaring ceilings, an open floor plan, an oversized living room with a fireplace, and a large primary bedroom with a 4-piece ensuite on the main floor. The loft area features another large bedroom, a 4 piece bathroom, and a bonus area, perfect for a home office or den. The fully finished basement is a retreat, featuring a large bedroom with ensuite, a large rec room with a wet bar, and plenty of storage. Outside, the newly hardscaped and landscaped backyard is stunning - the perfect place to relax after a long day. This walkable community features a 5,000 sq ft clubhouse, visitor parking pockets, and a naturalized amenity space. Make this beautiful bungaloft your next home! Other recent updates include new roof (2023), windows and new driveway (2023 by condo corp), front and backyard hardscape and landscape (2023), air conditioner (2024). (id:51158)
Homes for sale in Burlington

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