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 $599,900

551 Maple Avenue Unit# 315

Burlington, Ontario

1 Bedroom 1 Bathroom 727 sqft

Luxury living in the sought after Strata. This beautiful 1 bedroom, 1 bath condo features a large kitchen with upgraded cabinets, granite countertops and S/S appliances. Open concept living with new flooring throughout, patio doors leading to your private east facing balcony and a spacious master bedroom with floor to ceiling windows and large walk-in closet. Amenities include indoor pool and hot tub on the 22nd floor with panoramic views of Burlington, Hamilton and Lake Ontario, fully equipped gym, games/party rooms and rooftop patios. Minutes from Spencer Smith Park, Mapleview Mall, QEW/403/407 and Burlington GO. Parking (B-105), Locker (1-9). (id:51158)
Homes for sale in Burlington

For sale $4,900,000

227 Green Street

Burlington, Ontario

4 Bedroom 3 Bathroom 1554 sqft

Make everyday feel like a vacation waking up with endless water views and Southern exposure! This luxury property features over 100 ft of waterfront on Lake Ontario. Beautifully maintained heritage home with outstanding charm and character, an upgraded interior and an in-law suite in the basement. Currently running as a successful and professionally managed AirBnb, coined The Carmen Elisabeth Lake House. Incredible opportunity to live or make this your own on an executive lot that is truly second to none. Stunning private property with riparian rights to build a seaplane hangar or dock (Buyer to do due diligence). Prime location of Burlington, a short distance to downtown Burlington, and close to highways/parks/recreation. Survey available, lot depth includes water. (id:51158)
Homes for sale in Burlington

For sale $4,800,000

247 Belvenia Road

Burlington, Ontario

4 Bedroom 3 Bathroom 3900 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)
Homes for sale in Burlington

For sale $1,099,000

6406 Cedar Springs Road

Burlington, Ontario

2 Bedroom 1 Bathroom

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)
Homes for sale in Burlington

For sale $4,899,000

6150 Walkers Line

Burlington, Ontario

4 Bedroom 4 Bathroom

32.26 acre one of a kind property 10 minutes from town. Gren Weiss designed bungalow w/ 5531 sq ft of living space and built with high quality workmanship & features. 4 Bedroom floor plan offers natural light and 100% privacy. Bright spacious rooms with spectacular valley views. Charming sunroom, sitting area, chefs kitchen, Private Primary bedroom w/ WI closet, luxurious ensuite. 2 other generous size bedrooms, a 4 pce bath laundry & powder room. The lower level offers family room, bedroom, 3 pce bath, wet bar, wine cellar, office, 2nd Kitchen, storage & utilities. Professionally landscaped w/ beautiful gardens, terrace, elevated seating areas & firepit. 6 Stall Horse Barn w/ wash bay, heated tack room, powder room & hay loft. Property features floodlit riding ring & round pen, equipment shed, manure storage. Detached double car garage & inside access from home to double attached garage. Riparian Rights at the creek. NEC Development Control Area. 5.32 acres under CLTIP. Farmable! (id:51158)
Homes for sale in Burlington

For sale $4,899,000

6150 Walkers Line

Burlington, Ontario

4 Bedroom 4 Bathroom 5531 sqft

Spectacular 32.26 acre property in rural Burlington nestled into Bronte Creek. Located on a one-of-a-kind property 10 minutes from town just north of Britannia Road on Walker’s Line . This amazing 4 bedroom Gren Weis designed bungalow with walk out lower level offering 5531 sq ft of living space and was built with high quality workmanship & features. The sprawling floor plan offers terrific livable space with an abundance of natural light and 100% privacy. A bright welcoming entrance from the front door & foyer invite you to the spacious living room & dining room with spectacular valley views. Charming sunroom & sitting area off the chefs island kitchen, make this a lovely place to start and end your day. On the other side of the home is the private primary bedroom with custom walk in closet, luxurious ensuite, also with spectacular valley views. The main floor continues with two other generous size bedrooms, a 4 piece main bathroom, laundry room & powder room. The lower level welcomes you with family room, 2 bedrooms (1 used as office), 3 piece bathroom, wet bar, wine cellar, 2nd Kitchen, storage & utilities. Walk out to the professionally landscaped stone terrace & garden with elevated seating areas & fire pit. The home also features an attached double car garage with inside access. Follow the silver maple lined driveway down past the additional double detached garage, to the 6 Stall Horse Barn with wash bay, heated tack room, powder room & hay loft. The property is equipped with electric wire fencing, floodlighting, riding ring, round pen, equipment shed, manure storage & remote operated front gates with intercom. Riparian Rights Into Bronte Creek - Enjoy fishing for Salmon & Trout! NEC Development Control Area. 5.32 acres under CLTIP. Farmable Land Killbride Public School Catchment Area A truly unforgettable home & property nestled into nature & extremely private!!! (id:51158)
Homes for sale in Burlington

For sale $14,998,000

140 Secord Lane

Burlington, Ontario

5 Bedroom 9 Bathroom 11417 sqft

Welcome to this magnificent lakefront estate tucked away on a private lane on approximately ¾ of an acre lot; 100 x 325 feet with Riparian rights, designed by Architect David Small and built by Rock Cliff Custom Homes, completed in 2021. Enter through the impressive front door into the grand foyer and experience the soaring heights and elegant use of the finest materials, construction without compromise and fastidious attention to every detail will fulfill the desires of the most cultivated buyer. This contemporary masterpiece hovers over Lake Ontario like a diamond, taking advantage of every shimmering view. The minimalist interior offers a monochromatic palette while featuring geometric architectural details and pops of cheerful colour leaving you inspired. Hardwood floors with radiant heat throughout, custom chandeliers, pot lights, coffered and beamed ceiling details, walls of glass that open to allow for spectacular views that seamlessly continue from indoors to the outdoor living area. Enjoy dining outdoors with a fully equipped kitchen in your choice of two large covered patios with electronic screens and heaters for those cool autumn evenings. The beautifully crafted infinity pool blends seamlessly overlooking your private tennis court, walk down to the lower patio and enjoy the lake breezes or a boat ride, outdoor living at it’s best! Open concept main level offers a gourmet kitchen with top-of-the line Wolf and SubZero appliances and an oversized island will impress the most discerning chef. Enjoy entertaining in your living room and dining room or relax in the family room by the fireplace. The second level master suite is pure serenity, wake each day to the sun rising over the lake, spa inspired ensuite and custom designed walkin closet will delight. The fully finished lower level opens to the outdoors and was designed for entertaining, golf simulator to practice your swing or watch your favourite sports while enjoying a drink by the built in bar. (id:51158)
Homes for sale in Burlington

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