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$599,000

4040 Upper Middle Road Unit# 310

Burlington, Ontario

2 Bedrooms2 Bathrooms973 sqft

An incredible opportunity for downsizers or first-time buyers in Burlington's desirable Tansley Woods! This beautifully updated 2-bed, 2-bath corner unit condo offers 9-ft ceilings, panoramic windows, and a huge 189 sq ft wrap-around balcony. perfect for enjoying stunning escarpment sunsets. Freshly painted with modern flooring, quartz countertops, and stainless steel appliances, this smart home features 3 custom closets, including a pantry, ensuite closet, and linen closet. Additional shelving has been added to the laundry room, both bedroom closets, and the foyer closet. Includes 1 parking space, a private locker, and is just 5 minutes to the QEW, 9 minutes to the Appleby GO Station, and steps from parks, shops, and trails. Don't miss the fantastic video tour! (id:51158)

For Sale$699,900

2055 Upper Middle Road Unit# 1502

Burlington, Ontario

3 Bedrooms2 Bathrooms1250 sqft

STUNNING 3 BEDROOM 2 BATH UNIT - WITH BREATHTAKING VIEWS OF THE ESCARPMENT & GORGEOUS SUNSETS. RENOVATED & FRESHLY PAINTED Neutral tones, OPEN CONCEPT, CORNER UNIT, in a HIGHLY DESIRED BUILDING. SPOTLESS with a Gourmet white kitchen with breakfast bar, backsplash, SS appliances, & an abundance of cabinets. Quality throughout including california shutters & custom closets. PRIMARY BEDRM features walkin closet & ensuite bath. Numerous amenities & activities at your fingertips. (id:51158)

For Sale$1,499,900

154 Hendrie Avenue

Burlington, Ontario

4 Bedrooms4 Bathrooms3398 sqft

Nestled in the highly sought-after Aldershot Village, this prime property offers an exceptional lifestyle. Boasting 3,398 sqft of living space, the main floor features a bright, airy eat-in kitchen with stainless steel appliances, a breakfast bar, and a large over-sink window. The cozy living room, highlighted by a brick fireplace feature wall, opens to the stunning backyard. An additional living room/dining room combination offers room for entertaining and a main-floor bedroom, 2- piece bath, and a functional laundry room with ample storage complete this level. Upstairs, the generous primary suite includes a 3 piece ensuite. 2 additional sunlit bedrooms and a 4-piece shared bathroom provide ideal family accommodations. The fully finished lower level offers flexibility with a gas fireplace, areas for a home office, workout space and an additional 2-piece bath. The fully fenced backyard is a private oasis designed for relaxation and entertainment, featuring an in-ground saltwater pool with a new liner, a luxurious cabana, and a brand-new storage shed. Located moments from La Salle Park, Splash Pad, and Pier 34, with the Royal Botanical Gardens and HWY 403 just a short drive away, this home combines convenience with elegance. Walkable to Aldershot school and public transit further enhance its appeal. This is suburban living at its finest. (id:51158)

For Sale$1,075,000

1043 Joan Drive

Burlington, Ontario

3 Bedrooms1 Bathrooms1283 sqft

Located In Desirable Aldershot. Waking Distance To all Amenities. Fully Fenced Lot With Spacious Composite Deck, Patio Off Rear Entrance. Single Car Garage And Double Drive (5 Car Parking). Charming3 Bedrooms, 2 Bathrooms (Master Bedroom Ensuite With Heated Flooring). Recently Painted Throughout, neutral Decor. Many Upgrades Including Kitchen, Bathrooms, Windows, Shingles On Roof, Hardwood Flooring On Main Level. Main Floor Family Room With Gas Fireplace. All Access To Deck & Back Yard. Lower Level Is Practically Finished And Is Waiting For Your Finishing Touches. Show With Confidence. (id:51158)

For Sale$1,499,900

1291 Princeton Crescent

Burlington, Ontario

6 Bedrooms6 Bathrooms2695 sqft

Discover the perfect blend of versatility and comfort in this remarkable bungalow offering 2749 sq ft of total living space. Nestled on a quiet, family-friendly street in Burlington, this rare 6 bedroom home is perfect for growing families or investors. Located near top-rated schools, parks, public transit, and shopping, it’s a prime opportunity in a sought-after neighborhood. The open-concept main floor is bright and inviting, the perfect environment for relaxing or entertaining. The modern kitchen boasts stainless steel appliances, brand new flooring, ample cupboard storage, and a spacious dining area, seamlessly flowing into the living and family rooms. A large window in the living area fills the space with natural light. The primary bedroom is a serene retreat with two oversized windows, walk-in closet, and a 3-pc ensuite featuring a stone-and-glass walk-in shower. Three additional bedrooms, a 2-pc powder room and a stylish shared 3-pc bath complete the main level. The fully finished basement, with a separate entrance, offers excellent potential as an in-law suite or income property. It includes a modern kitchen, rec room, separate laundry, 2-pc bath, and two bedrooms, each with private 3-pc ensuites. Current reliable tenant at $2500/month - willing to stay. Great monthly passive income! This exceptional property combines elegance, functionality, and versatility—don’t miss your chance to make it yours! (id:51158)

For Sale$1,715,000

3905 Koenig Road

Burlington, Ontario

4 Bedrooms5 Bathrooms3055 sqft

Welcome to 3905 Koenig Road, a brand new never lived in Sundial built 4 bedroom home with 3656sqft. of finished area in the sought after Alton Village neighborhood. Spacious main floor features a dining room, great room with fireplace, kitchen and breakfast with walk-out to the backyard. Upper floor offers a primary bedroom with 5-pc ensuite, along with three additional bedrooms and two 4-pc baths. Open concept Loft offers space for entertainment! Builder finished basement offers recreation room, den and 4-pc bath. Excellent location close to HWY access and walking distance to Go Transit, parks, schools and more! (id:51158)

For Sale$999,900

3333 New Street Unit# 133

Burlington, Ontario

3 Bedrooms3 Bathrooms2059 sqft

Super 3 Bedroom, 2.5 Bath Condo in Roseland Green. The Kitchen has an eating/serving bar open to the Dining Room with a bright bay window. Living Room has a corner fireplace and a sliding glass door opening to a spacious, private patio. Primary Bedroom has a renovated Ensuite Bath. There are large walk-in closets in the Primary and second Bedrooms. Finished lower level has storage closets, office, Recreation Room, Workshop area with workbench and Laundry Room. Gas bbq outlet. New windows. Lovely open concept 1592 sq ft. Saphir model. (id:51158)

For Sale$599,000

4140 Foxwood Drive Unit# 205

Burlington, Ontario

2 Bedrooms1 Bathrooms729 sqft

Spacious and inviting 2-bedroom, 1-bath ground-level unit available in a fantastic family friendly neighbourhood! This open-concept home features laminate flooring throughout, a very bright living room with sliding doors overlooking your private terrace, a kitchen with lots of storage, and an updated bathroom. Enjoy the convenience of en-suite laundry and the luxury of TWO side-by-side parking spaces just steps from your private terrace. Located close to public transit, the 407, QEW, schools, parks, and a variety of restaurants and shops, this unit offers everything you need for comfortable living. Don't miss out—this gem won't be available for long! (id:51158)

For Sale$839,900

5280 Lakeshore Road Unit# 911

Burlington, Ontario

2 Bedrooms2 Bathrooms1277 sqft

Welcome to Unit 911 at 5280 Lakeshore Road, a beautiful waterfront corner unit condo! This bright and spacious home features 2 bedrooms, 2 bathrooms, and underground parking for one vehicle. The foyer features a large double closet and guides you to the breathtaking living room with soaring natural light and an electric fireplace. The sunroom is designed to showcase panoramic lake views through its exceptional windows, making it the perfect space to relax or entertain. Adjacent to the living room, the formal dining room is complete with a beautiful chandelier and elegant wainscoting. The galley-style kitchen offers ample cabinetry, tasteful tones, and a charming bay window that fills the space with light. The primary bedroom includes a double closet, a large south-facing window, and a private 3-piece ensuite. The spacious second bedroom also features a double closet and is conveniently located next to a 3-piece bathroom. Centrally located between the bedrooms is the laundry room with extra cabinetry and a linen closet. The incredible amenities include an outdoor pool, a tennis and pickleball court, barbecues, saunas, an exercise room, a party room, visitor parking, community groups, and more. Situated near grocery stores, waterfront parks and trails, great restaurants and shops, public transportation, the QEW, and only minutes to beautiful downtown Burlington. Rarely offered, you are bound to fall in love! (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. 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$1,849,999

313 Silvana Crescent

Burlington, Ontario

4 Bedrooms3 Bathrooms2646 sqft

STUNNING CONTEMPORARY REMODEL! 4 level sidesplit in the revered Shoreacres neighbourhood! 3+1 bedrm, 2.5 bathrm, OVER 2600 sq ft of living space & is filled top to bottom with magnificent details. Open concept living space, gorgeous reconstructed vaulted ceiling, a sophisticated kitchen offers incredible attributes, large kitchen island, solid quartz countertop, floor to ceiling storage, smart tap & top of the line appliances. Main floor is complete with a modern gas fireplace, 4 skylights, a dining area & mudrm. Solid oak stairs lead up to the upper level feat. 3 spacious bedrms each with hardwood floors that have been sanded & restrained to match the main level. 5-piece bathroom with a rain shower head, double vanity, spa-like tub, & heated towel rack. The details continue to the lower 2 levels with a fully finished rec room with a walk-up, a cozy wood burning fireplace, spacious laundry room with an imported Italian sink. The compact powder room makes a big design impact with a unique curved wall & heated tile flooring. Another spa-like 3-piece bathrm with another rain shower head & accent lighting. The 4th bedrm has a large window & frosted glass window to open the space up. Industrial wine cellar has a floor to ceiling glass door for temperature control & an abundance of racks & shelving. Sitting on a desirable corner lot on a very quiet crescent with a stone interlock front patio. Located minutes from all amenities, communities centres, parks, schools & major highways. (id:51158)

For Sale$463,900

4015 Kilmer Drive Unit# 404

Burlington, Ontario

1 Bedrooms1 Bathrooms663 sqft

Calling all commuters, downsizers, and first-time buyers! This well maintained 1-bedroom, 1-bathroom condo offers convenience and comfort in the heart of Burlington. Located on the 4th floor, this unit features neutral décor, vaulted ceilings, and an open-concept design. The eat-in kitchen with a breakfast bar flows seamlessly into the living area, making it perfect for entertaining. The bright primary bedroom boasts a double closet and easy access to a 4-piece bathroom with a tub/shower combo. Enjoy the convenience of in-suite laundry and the warmth of hardwood floors throughout. Step outside through double garden doors to your private balcony, ideal for relaxing with your morning coffee or an evening BBQ. Situated just minutes from highways, GO stations, shopping, restaurants, and more, this condo offers an unbeatable location. Simply move in and enjoy all the best Burlington has to offer! (id:51158)