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$657,889

5327 Upper Middle Road Unit# 218

Burlington, Ontario

1 Bedrooms1 Bathrooms849 sqft

Newly renovated!!!! Spacious, Bright and Luxurious, 1 Bedroom 1 bath. Located in the in the Orchard/Bronte Woods area in north east Burlington... The Main Floor Features An Open Concept Layout With Tons of Natural Light, Laminate Floors, throughout Condominium . The Kitchen Island/Breakfast Bar brings a warm feeling of togetherness and still have the open concept. Spacious foyer with ceramic tiles, where you will find a large In suite Laundry room with brand new washer and dryer, followed by an open high ceiling Family Room, open to breakfast area. Awesome Roof Top patio for BBQ, relaxing catching sunshine and great views, there is also a Party Room , One underground Parking Space, One Locker. Furnace, A/C and Water heater all reliance Rentals Approx. $127.00 per month . (id:51158)

For Sale$779,000

2025 Maria Street Unit# 1407

Burlington, Ontario

2 Bedrooms2 Bathrooms817 sqft

Gorgeous 1 bedroom + den at 'The Berkeley' in the heart of downtown Burlington! Steps to the lake, restaurants, shops and all amenities. Southwestern exposure with breathtaking views of the lake, escarpment and downtown! Stunning kitchen with quartz, stainless steel appliances, island and glass subway tile backsplash. Bedroom with 3-piece ensuite and two closets. Extremely bright open concept living/dining with walkout to balcony. Spacious den/office, additional 4-piece bathroom, engineered hardwood floors, 9' ceilings and in-suite laundry. Building amenities include 24-hour concierge/security, exercise room, party room, games room, guest suites, rooftop deck/garden with barbecues and bike storage. 1 underground parking space and 1 storage locker. (id:51158)

For Sale$1,990,000

3916 Koenig Road

Burlington, Ontario

6 Bedrooms6 Bathrooms3311 sqft

Welcome to your new home at 3916 Koenig Road! Discover the perfect blend of luxury, nature, and convenience in this stunning newly constructed masterpiece, nestled in the heart of Alton Village West's master-planned community. Surrounded by a central park, a tranquil pond, and a natural creek, it seamlessly integrates with the serene beauty of the great outdoors. Step inside this five-bedroom, five-bathroom sanctuary boasting over 4,000 sq ft of pure luxury. The main floor is designed for the modern family, with an open concept that seamlessly connects the dining room, living room graced by a cozy gas fireplace, and a breakfast space adjacent to the spectacular kitchen. It's equipped with a large island and integrated stainless-steel appliances (2023) to cater to all your culinary desires. The second floor is a haven of comfort, ensuring that every bedroom enjoys access to an ensuite or Jack and Jill bathroom, providing the ultimate luxury at the start and end of each day. Enjoy easy access to everything you need for a comfortable life, including top-notch schools, shopping destinations, delectable restaurants, and commuter highways (407/403) for effortless travel. This property offers all the benefits of a brand-new home without the wait. Don't miss out on the opportunity to make this your dream home. Don’t Be TOO LATE*! *REG TM. RSA. (id:51158)

For Sale$1,399,990

2273 Turnberry Road Unit# Lot 42

Burlington, Ontario

3 Bedrooms3 Bathrooms1740 sqft

The Mayfair now under construction in Millcroft by Branthaven. Great street appeal! Open concept design! Spacious ground family room with walk-out to patio. Spacious main floor. Large windows in living room. Dining room great for entertaining. Powder room. Chef's delight kitchen with Island & Breakfast Bar. Walk-out to to a deck. Master with walk-in closet & ensuite + 2 bedrooms. Main bath & laundry. Upgrades included are noted in supplement with floorplan. (id:51158)

For Sale$679,900

3210 Dakota Common Unit# A907

Burlington, Ontario

2 Bedrooms2 Bathrooms761 sqft

!! UPGRADED PENTHOUSE SUITE WITH TWO BEDROOMS, TWO FULL BATHROOMS, TWO PREMIUM PARKING SPOTS & TWO LOCKERS !! Newly built state of the art building in most desirable Alton Village. Over 1000 sq ft of indoor & outdoor space with Southern views. The list of upgrades is impressive & extensive. Custom kitchen island with breakfast bar, Quartz counters & backsplash, stainless steel Kitchen Aid appliances & under-mount lighting. Harrington 7” plank luxury vinyl flooring, mirrored closet doors & custom motorized blinds. Primary retreat with stunning views, pot lights, sliding barn door for easy access to the walk-in closet with built-in organizers & ensuite bathroom with upgraded walk-in glass shower. Large living room with loads of light & walk out to the 250+ sq ft balcony. Perfect for relaxing or entertaining. Second bedroom with sliding mirrored closet & second full bathroom with a bathtub. In-suite stackable washer & dryer. The building amenities are that of a 5 star hotel with a roof top patio, outdoor pool, BBQ & lounge area, gym, yoga studio, sauna, steam room, change rooms, party room, entertainment lounge, pet spa, 24 hour concierge & ample visitor parking. The units are equipped with Smart Suite access. Only 7 suites on the Penthouse level. Walk to a plethora of shops & restaurants. Close to the 407, QEW & public transit. Energy efficient. Pet friendly. This is one spectacular property! Includes all appliances. High speed internet included in the condo fee. (id:51158)

For Sale$4,800,000

247 Belvenia Road

Burlington, Ontario

4 Bedrooms3 Bathrooms3900 sqft

For more info on this property, please click the Brochure button below. Stunning and unique property priced to sell! Bungalow complete with a back yard oasis. Build your custom dream home on this once in a life time lot in the heart of Burlington close to the top schools in the area Tuck and Nelson! Don't wait too long this one will go quickly! (id:51158)

For Sale$1,099,000

6406 Cedar Springs Road

Burlington, Ontario

2 Bedrooms1 Bathrooms

Attention Investors, Builders, Developers, and Renovators! The building plans are underway and the Seller is willing to provide a Vendor Take Back Mortgage (meaning the Seller is willing to provide the Buyer with a Mortgage upon agreeable terms.) Here's A Fantastic Chance To Purchase a Property In The Charming Village Of Kilbride In Rural Burlington. This Presents An Excellent Opportunity For Investors And Developers To Construct Their Dream Home Or Renovate On This Expansive Lot (67x175 Ft), Enveloped By Majestic Trees And Stunning Views. Just Minutes Away From The Bruce Trail And A Short Drive To All The Amenities Burlington Has To Offer. **** EXTRAS **** Home is Being Sold \"As Is\". (id:51158)