In the chart above, Residential Market Activity, we can see the overall sales compared to this time last year. There were a total of 212 sales for the month of November. And we can see that the average cost of a home in Burlington has gone up and average sale price increased by 4%.
The Average Residential Price by District graph indicates to us that Burlington continues to do well from the escarpment to the bay. You’re also able to see the average cost of a home for the month. We’re also able to see that area 35 remains very hot with the most number of total sales (61) for November 2018.
The above chart Burlington Residential Table which includes area 35, the neighbourhoods of Millcroft and Headen Forest, have done very well. We can see the sales activity was 212 for the month of November. And the total sales for Burlington and Hamilton were 862.
The Sales to New Listing Ratio was 17.2% – indicating that the overall residential market for the RAHB area is normal for this time of year. As it’s common to see these ratios during the months of November and December. The sales-to-listing-price ratio was 97.8% indicating that Burlington continues to do well overall.
There are many factors home buyers should take into account when looking for that ideal home in Burlington, Ontario. Buying a home isn’t a simple process and you should put a lot of thought into it. This is why it’s always a good idea to get professionals, such as Team VanDinther, to guide you through the whole process.
So what are those factors to consider? What makes a home an ideal home? Ideal home is located in the right spot, and the home itself is accommodating your lifestyle and needs. Sound easy but in reality it can be tricky. And sometimes what we want and what’s available are not the same. Also, first thing is first. Figure out your purchase power. This will be the ultimate say in what you can attain.
Location. As the old phrase goes: Location, location, location! This is very important for a number of reasons. For one the price of your home will largely be determined by the location of the land and what’s around. The value of your home appreciates as you live in an area that’s “happening” and has everything close by. You could have the most beautiful home, but if it’s too far from everything and isolated, you’ll end up not liking it as much. We’re talking major roads and highways, amenities, schools, parks, community centers, businesses, restaurants, etc. Well established communities, that support quality life. Consider where you work, how do you like to spend your free time, where are your friends and family, is waterfront important to you, or perhaps you like a more secluded area a bit outside the city. You don’t want to pick a house located too far from everything, even if that house is absolutely amazing. Unless you’re buying in an area that will grow in the years to come and you’re aware of that and OK with that.
Your Lifestyle. Where you are in life will determine the type and size of home you need. For example if you are thinking about starting a family? or have one already you need a place that will be accommodating to that in the few years to come, at least. Think about how many rooms/bathrooms you’d need, what style of home? are too many stairs a problem? backyard size? number of garages? Do you need a shed for tools and tinkering around. Figure out how many years you’d want to stay in this home, and then try to picture your life 2 years from now, 4 years, 6 years, and so on? Does it work for everyone that will be living in the house? If you are not planning kids but have lots of pets, you may need a bigger backyard or parks close by, rather that lots of bedrooms. If you are parents you need to take into considerations schools and where you want to send you kids to? Check out our blog post The Best Ranked Schools in Burlington, Ontario. You want your home to be able to accommodate your lifestyle.
Neighbourhood. What’s around your area? What can you do with your family or friends on the weekend? How does a typical evening feel like? What about morning rush hour? Try to see your potential neighbourhood in different times of the day to avoid surprises. Ask other home owners what do they love most about the neighborhood, what do they dislike? Do you like neighbourhoods that are easily walkable. For example if you go to www.redfin.com/how-walk-score-works and type in your address, neighbourhood what score does it give? Are you OK with that? Get a good feel of the neighbourhood because once you step outside your house, this is what you’re be immersed in. You wanna feel right at home. Some of Burlington’s best neighbourhoods for families are: Millcroft, The Orchard, Alton Village. South Burlington is primarily older neighbourhoods but closer to the Lake Ontario and very beautiful mature lots. Downtown core, Aldershot, Corporate tend to be suitable for young professionals or retirees.
If you are planning to buy a home in Burlington, best mid-sized city in Canada, and need some help in finding that ideal home, please don’t hesitate to ask us for help. That’s what we’re here for. We’ve connected hundreds of people with their ideal homes and we can do the same for you too. Call 905-330-2002 today or learn more about our Burlington real estate services.
The “How Low Can You Go” offer is contingent on you not having an emotional attachment to the property you intend to purchase. In a buyers’ market, you may find a few homes that catch your interest and you may want to make a lowball offer. This is usually significantly less than the asking price. Lowballs only succeed if the seller is desperate. You may receive a counter offer, but more often than not, the seller will feel insulted and ignore your offer.
We may advise you against presenting such an offer, but will pass it along to the vendor.
The “I’ve Got to Have This Home” offer usually happens when buyers fall in love with the home and want to present their best offer first. This offer leaves no negotiating room, but if the market is hot, it’s an offer that will attract attention. Your RE/MAX associate will convey to the seller that this is your best offer. Most sellers expect to receive an offer and counter with another, so you may find yourself in a situation where you either accept the counter offer, or walk away from the home.
The “Poker” offer usually arises in a sellers’ market where buyers find themselves in a bidding war for the property. If you find yourself in this situation, all of your negotiating strength will be lost. You have the choice to raise the bid, or fold and move on.
The power of waking away is a formidable one, especially when no one else is competing against you to buy the house.
Also keep the following points in mind:
All negotiating should be done in writing.. don’t relay on oral communication.
Don’t settle for the first offer presented, especially if not what you expected.
Do examine each clause, contingency and condition in detail.
Do consult with a real estate lawyer before signing any papers.
And always hire a professional real estate agent to represent you – this is what they do, and trust us, you do need the guidance in today’s real estate market.