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 $549,900

5317 Upper Middle Road Unit# 127

Burlington, Ontario

1 Bedroom 1 Bathroom 712 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)
Homes for sale in Burlington

For sale $1,399,900

2188 Donald Road

Burlington, Ontario

4 Bedroom 3 Bathroom 2000 sqft

Beautifully updated 4 bedroom, 2.5 bathroom home with over 2500 sqft of living space, including a fully finished basement. Nestled on a quiet Cul-De-Sac in the highly sought after Headon Forest neighbourhood of Burlington. The open concept floor plan features premium flooring throughout and a recently renovated kitchen with quartz countertops, stainless steel appliances and a breakfast bar. The primary suite features a large walk-in closet and a private 3pc ensuite. The finished basement provides the perfect space to entertain or spend time with family and friends. Oversized windows provide tons of natural light and a picture perfect view of the meticulously landscaped backyard oasis, complete with a composite deck, stone patio and a fenced in-ground pool. Do not miss out on this beautiful home! Book your private showing today! (id:51158)
Homes for sale in Burlington

For sale $499,000

1940 Ironstone Drive Unit# 1709

Burlington, Ontario

2 Bedroom 2 Bathroom 645 sqft

This penthouse suite is absolutely stunning! With its open concept layout and 9-foot ceilings, it offers a spacious and airy atmosphere. The upgraded modern kitchen, equipped with stainless steel appliances and stone counters, adds a touch of elegance and functionality to the space. Two bathrooms provide convenience and privacy, while the large balcony offers a perfect spot to enjoy the breathtaking views. Enjoy 5-star building amenities including concierge/security, a rooftop patio with BBQ facilities, games/media room, fitness/yoga room, and gym, residents can indulge leisure and recreation. The location is unbeatable, with easy access to groceries, shopping, restaurants, transit, and nearby highways 403/407. It's the perfect blend of convenience, luxury, and comfort! ******Assumable mortgage at $344,000. At 2.24% with 2 years remaining***** (id:51158)
Homes for sale in Burlington

For sale $499,000

5001 Corporate Drive Drive Unit# 406

Burlington, Ontario

2 Bedroom 2 Bathroom 671 sqft

Welcome to Appleby Gardens! With its high ceilings and abundance of natural light, it feels incredibly spacious and inviting. The open kitchen layout, complete with stainless steel appliances, granite counters, and a breakfast bar, is perfect for both cooking and entertaining. The den adds versatility to the space, whether it's used as a home office, guest room, or additional living area. Having a 2-piece bathroom on the main level is certainly convenient. The primary suite is a tranquil retreat, with its spacious layout and 4 piece ensuite bathroom Located in a vibrant neighborhood with plenty of dining, shopping, and entertainment options within walking distance. For commuters, the easy access to both the 403/407 and the Appleby GO station makes getting around a breeze. A must see! (id:51158)
Homes for sale in Burlington

For sale $1,799,000

1085 Augustus Drive

Burlington, Ontario

4 Bedroom 4 Bathroom 3134 sqft

Absolute show stopper! Completely renovated top to bottom, inside & out. Thoughtfully designed, & stunningly appointed, you will instantly fall in love. Close to downtown, in a beautiful enclave in the Maple area, with access to everything nearby. Over 3,100 sq ft of living space, this completely re-designed home offers an open concept main floor with eat-in kitchen & large island, with views to a formal dining area, & massive sunken living room with horizontal electric fireplace, skylight & vaulted 11’ ceiling. Off the kitchen is a walk-out to new deck, gardens & very private rear yard. The 2nd floor has 2 bedrooms & 4 pce bath, + a beautiful primary bedroom with walk-in closet & 4 pce ensuite with glass shower & signature claw foot tub. The lower level provides a large rec room, laundry with sink & ample storage, + a large 4th bedroom & 3 pce bath. This is a must see! (id:51158)
Homes for sale in Burlington

For sale $789,999

1548 Newlands Crescent Unit# 14

Burlington, Ontario

3 Bedroom 3 Bathroom 1351 sqft

A well maintained, spacious 3 bedroom, 2.5 bath end unit townhome in popular Palmer neighbourhood complex has an outdoor pool, playground and is close to schools, transportation and will tick all the boxes. On the main level of this carpet-free home you will find an eat in kitchen, large open living room, powder room and walk out to a private fenced patio. Upstairs you will find 3 large bedrooms, including a primary bedroom with walk-in closet and ensuite privileges. The fully finished basement is perfect for teens or multigenerational family with 2nd full bathroom, counter and sink for a second kitchen or easy entertaining, a large laundry room, utility room and cold cellar offering plenty of storage. Convenient parking in your own garage plus an additional spot in the driveway. (id:51158)
Homes for sale in Burlington

For sale $1,141,000

2121 Lakeshore Road Unit# 401

Burlington, Ontario

2 Bedroom 2 Bathroom 1585 sqft

2 bedroom + den corner suite at 'Village Gate' in prime downtown core location! 1,585 sq.ft. Steps to the lake, restaurants, shops, waterfront park, Performing Arts Centre and more! Updated kitchen with quartzite, stainless steel appliances, glass subway tile backsplash, pot lighting and breakfast bar. Primary bedroom with walk-in closet and 5-piece ensuite with marble counter. Open concept living/dining with views of tranquil ravine setting. In-suite laundry, California shutters and large pantry with custom built-ins. 2 full bathrooms, 1 parking space, 1 storage locker and visitor parking! Condo fee includes all utilities including cable and internet. (id:51158)
Homes for sale in Burlington

For sale $5,999,900

2659 2 Side Road

Burlington, Ontario

4 Bedroom 7 Bathroom 6052 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)
Homes for sale in Burlington

For sale $524,900

2093 Fairview Street Unit# 408

Burlington, Ontario

1 Bedroom 1 Bathroom 560 sqft

Discover the highly sought-after Paradigm Towers! This stunning 1-bedroom unit boasts an open-concept design with 9-foot ceilings, a modern upgraded kitchen with quartz countertops, and a spacious contemporary bathroom. Situated on the 4th floor, this unique unit is one of only four in the entire complex that offers direct access to the outdoor terrace from its oversized balcony. Enjoy state-of-the-art amenities including a Sky Lounge, rooftop deck, outdoor BBQ terrace with tables and lounge seating, an indoor pool and sauna, a media room, an outdoor exercise course, a basketball court, guest suites, a games room, a pet washing station, main floor bicycle storage, and 24-hour concierge and security services. Perfectly positioned just minutes from Burlington's downtown waterfront, this location provides easy access to the GO Train Station, a variety of restaurants and cafes, Spencer Smith Park, and major highways QEW, 403, and 407. You'll also find all essential amenities nearby, including hospitals, shopping centers, schools, and parks. Don’t miss this opportunity to live in one of Burlington’s premier residences! (id:51158)
Homes for sale in Burlington

For sale $409,900

2052 Courtland Drive Unit# 304

Burlington, Ontario

1 Bedroom 1 Bathroom 746 sqft

Bright and open 1 bedroom condo in Burlingtons sought after downtown core. Third floor appartment with elevated views overlooking the school yard and evening sunsets. Freshly painted and new trim throughtout. Custom built-ins, clean open kitchen with opened entrances and corner sink. Easy walking distance to GO Station, transportation, restaurants, shopping, YMCA and cental library. Bright coine operated laundry on the main level with bicycle storage. Large storage locker on apartment level. Great affordable opportunity to buy into the downtown core! (id:51158)
Homes for sale in Burlington

For sale $5,999,900

2659 #2 Side Road

Burlington, Ontario

4 Bedroom 7 Bathroom

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)
Homes for sale in Burlington

For sale $1,599,900

2329 Sharron Street

Burlington, Ontario

3 Bedroom 3 Bathroom 1748 sqft

Welcome to this well maintained bungalow situated on a quiet treed-lined street within minutes to downtown Burlington. Excellent location within walking distance to YMCA, Central Park, Library, schools walking and bike trails. This 3 bedroom, 2.5 bathroom main floor living bungalow features a magnificent Great room and Primary bedroom addition with ensuite bathroom. There is a walkout from the great room and primary bedroom to a wrap around porch overlooking a Tranquil and peaceful private treed lot. Main floor laundry facilities, finished lower level rec room, den/4th BR, rough in 3 pice bath and plenty of storage. Experience the taste of local restaurants, Art Centre, shop at trendy stores and enjoy the summer festivities at Spencer Smith Lakefront Park. Don't miss this rare opportunity to make this bungalow in a fabulous location your new home! (id:51158)
Homes for sale in Burlington

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