Many Canadians who currently rent are dreaming of homeownership. If you fall into this camp, you may be wondering whether 2022 is the time to make your dream come true. The truth is, there are many things to consider—including which option will most benefit you financially. 

If you’re trying to decide whether to buy or rent the next place you call home, here’s what you should know…

The current market

When you’re thinking about buying, it’s important to understand local market conditions. There’s no doubt that we’ve been in a seller’s market for some time now, and (while we certainly can’t predict the future) there’s no indication that this trend is going to change anytime soon. 

While 2022 has just begun, last month’s numbers can provide us with some much-needed insight. In Halton Region, the average home price is on the rise—and for December, it reached $1.34 million. In Milton, it was nearly $1.35 million, and in Burlington, it was $1.23 million.

In other words, it’s hard to get a foot in the market right now. Given the sums of money involved, it’s critical to think your decision through. That said, if you have the time and resources to compete, there are some substantial benefits to doing so. 

From long-term appreciation to greater financial security, there are many reasons why so many buyers can’t wait to take this step—even if it means starting with a small condo when they’re looking forward to buying a house. Let’s take a closer look at the financial advantages of purchasing a piece of real estate right now.

The first step towards buying a home is making sure you’re informed. You’ll find in-depth information about what the process is like right now in our recent blog posts below.

• How New Government Policies Could Help First-Time Buyers
• Your Guide To The First Time Buyers Incentive. Is It Worth It?
• Best Burlington Condos For First-Time Buyers

The financial perspective

Studies frequently show that in most cases, owning a home is more financially beneficial than renting in the long run. To start with, as The GTA’s population grows, so too does the number of people who need a place to live. That’s putting rentals in high demand, so it’s no surprise that rents are on the rise. Unfortunately, when you pay this monthly cost, your money doesn’t work for you. It helps your landlord pay their mortgage.

If, on the other hand, you decide to buy, a significant portion of your mortgage payments will go towards your principal. In a sense, it can be considered a forced savings account (since you’re constantly building equity). When you look at it this way, you can see how monthly rent can be significantly more costly than your mortgage payments. 

When it comes to improving your financial situation, owning a home gets even better. You’ll not only benefit from equity but long-term appreciation. In the vast majority of cases, local real estate becomes more valuable over time. While the market fluctuates, it also bounces back—and an experienced agent can help you get top dollar when you’re (eventually) ready to sell.

Buying a home also gives you the opportunity to bring in passive income if and when you decide to move into another home. By renting out the living space you buy, you can grow both your bank account and your personal net worth. Having an investment property is also a great way to diversify your portfolio. 

Ready to learn more about the purchase process? Start by downloading our buyer’s guide right here.

Your long-term priorities

Let’s say you don’t have your future financial security in mind, nor are you thinking about growing your wealth by investing. The truth is, you’ll almost certainly need to think seriously about money matters in the years ahead. Owning a piece of property can give you a significant headstart.

Of course, there are other reasons to buy a home, the biggest one being your quality of life. If you’ve always envisioned yourself in a place you can truly call your own—where you can renovate to your heart’s content and take pride in ownership—that’s one of the best possible reasons to purchase if you can afford to.

All of that said, there are situations where renting is the better option. Will it put you in financial peril if you buy today? Are you unsure of where you want to be in the near future? Does the commitment of owning (and all the potential hassle and costs associated with ongoing maintenance) feel like a deterrent?

At the end of the day, the decision to buy or rent is a significant one, and it shouldn’t be taken lightly. The good news is, a real estate professional who’s passionate about what they do should be happy to answer your questions—and help you determine whether buying is right for you!

Have unanswered questions about buying a home? We would be happy to discuss them with you. Get in touch here.

As a real estate team, one of our most important relationships is with the mortgage brokers we work with. Aside from finding your ideal property, the most significant part of the home buying process is securing a mortgage and payment terms. 

At the Katherine Barnett Team, we work closely with several mortgage brokers. The reason we work with several is that much like choosing a real estate agent, choosing a mortgage broker is a very personal decision. It’s important to choose an individual who gels with your personality and can help you achieve your goals and meet your budgetary needs. 

In this post, we’re talking Agnes Mocko of Mortgage with Agnes and Joanna Skowron of The 6ix Mortgage Group to answer the questions you’ve always wanted to know about working with a mortgage broker. 

1. First of All, What’s the True Difference Between a Mortgage Broker and a Bank?

Joanna: When you go straight to the bank, you only have access to what that particular bank offers, and those mortgage programs may not be in alignment with what you need. However, working with a broker is a one-stop-shop! We collect the same information the bank does, but what’s different is that we have access to the whole spectrum of lenders at our fingertips, which includes the bank you were considering going to!

Agnes: Also, a bank has a certain type of box they need their applicants to fit into, which is why a lot of people get turned down. Mortgage Agents provide expert advice and work alongside their clients throughout the entire process. It’s almost as if you have a Google search engine in your back pocket throughout your entire homeownership journey.

Looking for more first-time homebuyer resources? You’ve come to the right place! Check out some of our other blogs:

• The True Cost of Buying a Home: What You Need to Know
• Our Top 8 First-Time Homebuyer FAQs
• How to Hire a Real Estate Agent as a Buyer

2. How Soon Should You Start the Mortgage Application Process when Buying a Home? 

Agnes: You should at least have a conversation with a Mortgage Agent as soon as you begin considering buying a home. The reason for this is because sometimes applications need some tweaking in order to get to the desired purchase price. A good mortgage agent can provide you with advice on how to meet your goal once that time comes. When it comes to a pre-approval, it is important to get one done prior to contacting a realtor. The reason for this is because once you have your pre-approval, you can confidently look for homes within your budget, avoiding any disappointment or wasted time on homes that may not be in your reach. 

Joanna: I would also add that the speed at which a client gets pre-qualified mainly depends on how quickly the required documents get sent over. I would recommend speaking with a mortgage agent about a week prior to house hunting to give a client adequate time to collect their paperwork and enough time for a mortgage agent to input all the information and ask for clarification if need be! 

The great thing about getting a pre-approval is that it offers a ‘rate hold’ that lenders will honour the interest rate the client has been pre-approved for or will adjust the interest rate if it drops for up to 120 days. 

3. Fixed-Rate Vs. Variable: Which Type of Mortgage is Better? 

Joanna: I wouldn’t necessarily say one is better than the other because it depends on what the client is comfortable with. If you’re the type of person who likes to know exactly how much you’re paying each month for peace of mind, I would recommend a fixed rate. If you’re the type of person who is okay with fluctuation in the payment, paying a little bit more or a little less, depending on how interest rates are looking, a variable rate could be the way to go. 

However, generally speaking, variable rates tend to be lower, and historically have shown to be less expensive in the long run.  

Agnes: It’s important to understand the penalties within the mortgage contract when making your decision. It’s quite common to see Canadian homeowners break their fixed mortgages. And fixed-rate penalties use either the greater of three months interest or a calculation known as the “Interest Rate Differential” (IRD). This is the difference between the interest rate attached to your mortgage and how it compares to a current rate that most closely matches your remaining term at that point in time. The issue is no one knows where interest rates are heading, making it impossible to predict. 

Variable mortgage penalties, on the other hand, typically only consist of up to three months of interest. 

Check out more homebuyer resources right here:

• 5 First-Time Homebuyer Mistakes to Avoid
• Download Our Buyer’s Guide

4. What’s the Number One Thing First-Time Homebuyers Should Know? 

Joanna: Get pre-approved! In a market where homes are flying off the shelves, it is extremely important to know what your budget is. Something I say all the time is house hunting without a pre-approval is like going shopping without knowing how much money you have in your wallet.

And with this pre-approval, the actual submission of your mortgage application is a lot easier. Because the majority of work has been completed in advance, you won’t have to worry about scrambling for paperwork in such a fast-paced environment. 

Agnes: I would say to get into the market as soon as you can afford it. You can buy a home with as little as 5% down. Be open-minded when looking for your first home. Remember, you are making an investment.

5. What’s the Difference Between a Mortgage Renewal and Mortgage Re-Finance?

Joanna: When the term of your mortgage is close to expiring, you’ll receive a notice from your lender offering you the option of renewing that mortgage with a new rate, and term. It’s a straightforward process stating that you’d like to move forward with your current lender, under the new specifications. 

Agnes: Refinancing a mortgage means you are replacing your existing mortgage with a new mortgage to do things like fund a renovation, take out money to buy an investment, secure a better rate, consolidate debt, etc. 

In order to get the money to refinance, an appraisal needs to be conducted on the home and the current mortgage balance is subtracted from this total. A borrower can then access up to 80% of the remaining amount. However, the borrower needs to qualify for this new mortgage amount.

Interested in learning more about mortgage rules and working with a mortgage broker? We host two webinars with Joanna and Agnes each month! Register for the next webinar here and join us live! 

When eager new homebuyers begin saving up for a home, it’s easy to fall into the trap of putting on the blinders and fixating on saving up towards one number in particular.

However, buyers can often forget to factor in the additional secondary and tertiary costs it takes to buy a home. For all buyers, new or recurring, these are critically important costs to know about.

So, whether you’re a first-time buyer or have set your sights on moving up, here’s a breakdown of some of the true costs you need to consider when buying a home.

The Deposit

The first expense you should plan for is the deposit. This is a percentage of the total cost of the home that gets paid to the seller or Seller’s agent brokerage right away to essentially “hold” the sale and show the seller you are committed to the purchase. Typically, a deposit is 5-10% of the total purchase price and is required to be paid within 24 hours of the offer.

The deposit also must be made in the form of a certified check, bank draft, wire transfer or Etransfer, which means a homebuyer will need fast access to funds when putting in offers. This money is typically paid to the Seller’s Realtor’s Brokerage company or sometimes to the seller’s lawyer to be held in trust until the home closes.

The higher your deposit, the more committed you may look to sellers and the more desirable your offer comes across. Once the deal is finalized, your deposit money can go towards closing costs or towards your down payment, which brings us to the next cost you need to plan for.

The Down Payment

A down payment is different from a deposit. The down payment is a lump sum payment that goes toward the final purchase of your home. In Canada, there are some rules around down payments. The minimum down payment you can pay is 5% for a home valued at $499,000 or less and 10% for homes valued at $500,000-$999,000. For homes over $1 million, buyers are required to pay at least 20%.

If possible, paying more than the minimum down payment amount is better because it means you will pay your mortgage off sooner, pay less interest, and build equity more quickly.

There’s nothing more fun than fantasizing about what your next home could look like. However, with the help of our Featured Listings page here, you don’t have to daydream quite as hard.

Your Mortgage And Interest Rates

Once your down payment has been accepted, you can deduct that amount from the final sales price of your new home. To account for the rest of the sales price, you’ll need to take out a mortgage.

Mortgages are essentially loans for homes. The total amount of your mortgage depends on a few factors, such as the cost of the home you’d like to buy, the amount of your down payment, what you qualify for based on your annual income, what your monthly expenses are, and your employment history.

Generally speaking, it’s either banks or private mortgage brokers who grant you a mortgage. Whoever you secure your mortgage from, you’ll have agreed on the total amount of your loan and the structure of how you’ll pay it back. In most cases, it’s in the form of a monthly payment to your lender, which will include an interest rate.

This means that if you’ve agreed to put down $2,000 per month towards your home, for example, this fee, plus whatever your mortgage interest rates are, will go to your lender.

What About Mortgage Insurance?

If you are unable to pay the minimum down payment for your purchase, you may still be able to get a mortgage, however, you will be required to purchase mortgage insurance

Mortgage insurance is an added cost that protects the lender since the lender is typically taking on more risk with a lower down payment.

Are you planning on becoming a first-time homebuyer? Ensure you’re well-informed about everything you need to know about your upcoming purchase by reading these related posts:

• 5 First-Time Home Buyer Mistakes To Avoid
• First-Time Home Buyer Grants in Ontario
• Our Top 8 First-Time Buyer FAQs

Land Transfer Tax

The province of Ontario requires homebuyers to pay them an additional fee called the Land Transfer Tax. Essentially, this reflects the provincial government’s cost of permitting you to transfer the title of property between their jurisdiction.

While each province has its own set of Land Transfer Tax rates, the amount you have to pay increases depending on the cost of your new home. The more expensive your new home, the higher the percentage of its value you have to pay in Land Transfer Tax.

In Ontario, the set of Land Transfer Tax rates ranges from 0.5% to up to 2.5% of your home’s value. However, if you’re buying a home in the Greater Toronto Area, the City of Toronto requires buyers to pay an additional municipal Land Transfer Tax alongside the provincial tax.

The good news for first-time homebuyers is that you may be eligible to have all or part of this one-time fee refunded. Eligibility for this refund requires buyers to qualify based on these criteria:

• The buyer must be a Canadian citizen or permanent resident of Canada
• The buyer must be older than 18 years
• The buyer must occupy the home within nine months of purchase
• The buyer cannot have previously owned a home anywhere in the world
• The buyer’s spouse cannot have owned a home while being your spouse

If that applies to you, then you can apply for a refund of the full amount of your Land Transfer Tax or up to a maximum of $4,000.

Lawyers’ Fees

In order for both the buying and selling parties to ensure they’re conducting a legitimate and viable transaction, it’s a real estate lawyers’ duty to review and approve all of the necessary paperwork and legal documents that are included in a transaction.

While both the buying and selling parties hire their own respective lawyers, both legal representatives work together to ensure the real estate transaction is completed smoothly and no contractual or legal details are overlooked.

As you might imagine, there are a lot of formalities and details that go into a real estate transaction, which is why it’s crucial you hire a dedicated real estate lawyer who has experience facilitating these types of deals. As with all lawyers, though, their services come with a fee, which you’ll need to factor into your overall budget as a homebuyer.

Whether you’ve already got an idea of who you’d like to hire or need help finding a legal representative, we work with a set of highly respected and experienced real estate-specific lawyers that we’re always prepared to recommend to our clients should they need it.

There are no ifs, ands, or buts about it — the safest way to buy a new home is through the help of a knowledgeable and experienced local Realtor®. Learn more about what we do, how we help, and how you can find the Realtor® that’s right for you here:

• How To Hire a Real Estate Agent As a Buyer
• Why You Should Work With a Realtor®
• 8 Steps to Finding the Right Real Estate Agent

Your Homeowners’ Insurance

Homeowners’ insurance is a form of property insurance that protects you, the homeowner, from any damages to you or your property once you own your new home. It’s also a requirement to get a mortgage.

In paying a monthly fee to a homeowners’ insurance provider, you are in essence paying for peace of mind. If any damages were to occur to you or your new home, your insurance provider would provide you with funds (up to a certain number) to pay for the cost of fixing the damages.

Although all insurance plans and providers are different, most homeowners’ insurance policies generally cover the costs of things like interior damage, exterior damage, the loss or damage of personal assets or possessions, and any personal injury that occurs on your property.

Interested in learning more about how we can help you make your upcoming home purchase the best buy of your life? Read all about our buying process and how we’ve helped buyers just like you find their dream homes the first time here:

• How We Help Buyers
• Our Buyers’ Guide

For many people, buying a home is the single biggest purchase of their life. It’s important to go into the process of homebuying with all the information you need to feel confident in your decisions. 

Working with a professional real estate agent is an excellent first step toward making sure you have access to the most accurate information and advice for your unique situation. However, there are several common questions we get asked by almost everyone. 

Here are the top 8 first-time buyer frequently asked questions:

1) Do I need mortgage pre-approval?

Mortgage pre-approval is not an absolute requirement to start house-hunting, but it is strongly recommended. Getting pre-approved helps you determine the type of budget you should be working with. It will paint a clear picture of exactly what you can afford. Additionally, in a fast-paced market, it’s critical to move quickly on a sale. If you are not yet pre-approved, sellers might not take you seriously. It also puts more obstacles in your way and can hold up the process, resulting in missed opportunities. 

2) What amount should my deposit be?

The first thing to know is that a deposit is not the same as a down payment. A deposit is a cash transaction that is made from the buyer to the seller, held in trust by the agent pending closing. The purpose is to essentially secure the sale of the home in good faith. 

There is no “set” deposit amount, but a deposit is typically around 5% of your total offer. However, sellers often see higher deposits more favorably and may contribute to an offer being accepted. A deposit must be made in cash, in most cases, by money order or certified check. If your offer is accepted, your deposit amount will go towards your down payment. 

3) How much will working with an agent cost me?

In short, not a thing! In Ontario, buyers do not pay commissions to the agents. All of the buyer agent’s commission is paid by the seller. 

4) How much will I pay for my down payment?

In Ontario, first-time buyers can generally purchase a home with a minimum 5% down payment, depending on the home’s purchase price. If you are able to come up with a 20% down payment, your lender will not require you to purchase mortgage insurance.  

5) How much home can I afford?

This is one of the top reasons to seek mortgage pre-approval. It will show you the mortgage you can afford, allowing you to base your home buying decisions around that. However, as a general rule, many lenders recommend that your debt expenses (mortgage, credit card payments, and miscellaneous loans) do not exceed 36% of your gross monthly income. So if your family’s combined monthly income is $10,000 and you have no debt other than a mortgage, you can likely afford a mortgage payment of roughly $3,600 per month. 

6) What is the MLS®, and why does it matter?

MLS® stands for Multiple Listing Service®. It’s a computer service that encourages collaboration between real estate agents. It’s available to all REALTORS® to use to help their clients. By hosting listings in one central location, buyers can see all the available listings, not just the ones associated with their chosen agent. Think of it as a way to even the playing field and help ensure you find your dream home, no matter which agent the listing is with.

7) What happens if there are multiple offers for my dream home?

This is a common scenario in a busy market. When there are multiple offers on a property. As a buyer, there are a few things you can do to help your offer get accepted. For example, submitting an offer over the asking price, close to the seller’s desired closing date, with a high deposit, and fewer conditions might be enough to encourage the seller to accept your offer in a competitive market.

8) How much are closing costs?

Closing costs encompass basically everything that needs to be paid at closing, not including the mortgage. This includes real estate lawyer fees, land transfer tax, moving expenses, and more.

This number can vary depending on several factors, but closing costs add up to about 1.5-4% of the purchase price in most cases. This means, for example, if you are purchasing a home for $700,000, you should have at least $10,500 – $28,000 set aside for closing costs. 

It’s a common question in the real estate world, especially among first-time buyers and sellers. Do I need to work with a REALTOR®? Some people wonder whether they have what it takes to go it alone. That said, most ultimately decide to work with a professional—and for good reason.

In this post, we’ll lay out the benefits of working with a REALTOR®…

The Benefits of Working With a REALTOR® as a Buyer

Thinking of using a REALTOR® to help you buy a home? Here are some of the advantages you can expect.

Unsurpassed Knowledge

If you’re a buyer, a REALTOR® will use their real estate knowledge and local expertise to help ensure your purchase is a success. From school districts to price points to hidden neighbourhood gems, a professional who works in your areas of interest can answer all your questions. In addition, their understanding of the buying process means they’ll always know what’s next—and will be there to guide you through every step.

Local Connections

Your home search will become much easier when you work with a REALTOR® who has a strong local network. From local sellers to home professionals who can help you with repairs if need be, it’s helpful to have connections to tap into. Your REALTOR® will also have access to the MLS, a massive system that agents use to share listings. It’s the best way to find homes that match your criteria.

Offer Stage Assistance

Once you find the right match, a REALTOR® can help you craft an offer that’s competitive yet protects your interests. It’s a delicate balance, and there are a variety of elements to consider. From your sale price to your deposit to the conditions you choose to include (or omit), your agent will provide guidance on what to include to help you achieve your desired result.

Negotiation Expertise

What happens if you have to enter into negotiations? Your REALTOR® will advocate on your behalf, using recent local data to justify any points they make. They’ll also draw on their general experience and knowledge of buyer psychology to position you for success.

Help With the Details

Buying a home comes with all kinds of paperwork, logistics, and costs, which are necessary to wrap up your purchase. Your REALTOR® will make sure all these loose ends get tied up. Just as importantly, they’ll know how to work with all parties involved—from other agents to inspectors to lawyers—along the way.

Should I work with a REALTOR® if I’m a seller?

Wondering if you should work with a REALTOR® as a seller? The truth is, there are many good reasons to do so. If you decide to take this step, you’ll see some major benefits.

Accurate Pricing

Pricing a home is an art. You want to attract the highest offers possible without intimidating buyers or turning them off. That means the number you set can’t be too high, or too low. Luckily, a good REALTOR® will have the local market expertise to help you settle on just the right number. They’ll even provide a document known as a comparative market analysis to help you understand recent sold prices for homes like yours—and assist you in making an informed decision.

Careful Home Preparations

A skilled REALTOR® will know how to see your home from a buyer’s perspective. Based on that knowledge, they’ll provide guidance and connect you to trusted professionals who can help you maximize its appeal. From decluttering and cleaning to staging, home preparations can make all the difference.

Masterful Marketing

Marketing is another crucial piece of the puzzle. From 5-star photography and beautiful print pieces to social media and digital campaigns, your REALTOR® will do everything in their power to make sure your home makes a strong impression.

Offer Review & Negotiations

Your REALTOR® can help you understand the context of any offer you receive. If multiple bids come in, they can also help you weigh the upsides and potential downsides of each one. Lastly, going up against an agent on your own during negotiations is no easy feat. The right professional will have the skills and experience to do that for you.

Careful Closing

From coordinating with the buyer’s agent and other parties to ensuring that due diligence is done, a talented REALTOR® will make sure closing is smooth. They’ll navigate you through the final walk-through and remind you of the steps you need to take—like changing your utilities.

The Bottom Line

Many buyers and sellers try to go it again—before ultimately deciding to work with a REALTOR®. That said, some people do sell their own homes. If you’re considering it, your best bet is to talk to a professional to learn the benefits and drawbacks!

Interested in speaking to an experienced local agent? Whether you’re buying or selling, get in touch to take the first step—or simply learn more about what working with our team is like.

There’s no denying it. Buying a home can be challenging, especially when the market is hot. While saving up for your down payment is one thing, competing with other home hunters who all want the same property is quite another. Fortunately, if you find yourself in a multiple-offer scenario, there are steps you can take to increase your chances of success—and make the process as stress-free as possible.

Here are a few tips you can try if you’re competing for your dream home…

1) Understand the market

Whether you’re purchasing in Milton, Burlington, or elsewhere, it pays to understand the local market. That’s because current conditions will directly impact what constitutes a good offer—which is especially important when there are multiple bids on the table. Fortunately, an agent with up-to-the-minute insight on market trends, local prices, and comparable homes will be well-positioned to help you craft a winning strategy.

2) Know your own limits

Of course, it’s not just the market you should have a handle on. Understanding your financial situation is equally crucial. It’s all too common to get swept up in a bidding war and offer more than you can comfortably afford. As a rule of thumb, your housing expenses (including mortgage payments) should be no more than 30 per cent of your monthly take-home pay. Obtaining pre-approval can also help you budget, as it will give you a strong sense of how much financing you’ll likely receive.

3) Be prepared to act quickly

Here’s another great reason to obtain mortgage pre-approval: it will allow you to act fast when you find the perfect property. You’ll know what you can afford—and sellers will see you as a serious buyer. In a market where inventory moves fast, it could make all the difference. Other tips for taking quick, decisive action include setting thorough home-buying criteria, understanding your dealbreakers, and ensuring you’re mentally prepared to make a move when you find the right place.

4) Make the strongest offer possible

Buyers often assume that they’ll have an opportunity to up their bid during negotiations. It certainly happens. That said, in a multiple-offer scenario, you may not get that second chance. That’s why it’s often wise to make your best bid the first time around. Of course, every set of circumstances is different, and there are times when leaving room to bargain is the best course of action. Luckily, a skilled local agent can help you determine which strategy is right for you.

5) Work with a true professional

Buying a home presents challenges in the best of circumstances. When there are multiple bids on the table, the process only becomes more complex—and the consequences of making a small misstep can be much steeper. In other words, getting it right is key. From understanding seller motivations to crafting the ideal offer, a local agent with a proven track record can walk you through the process, answer all your questions, and empower you to make a truly informed purchase!

To help you make an informed home purchase, we’re providing our handy buyer’s guide.

Every year, home buyers who swore they’d never leave Toronto are moving to greener pastures. Without a doubt, Burlington is one of their top choices. From its beautiful lakefront views to the all-around high quality of life it provides, this thriving city has never been more popular. That said, many enthusiastic buyers aren’t quite sure where to begin. Sound familiar?

If this city is relatively new territory for you, start by getting the lowdown on local neighbourhoods, homes, and prices. You can find out more here in our Burlington real estate guide…

Your Price Range

Home buyers have been flocking to Burlington in recent years, and for good reason. The fantastic quality of life in this little corner of Ontario is no longer a secret. In fact, the city has earned the impressive titles of “Best Community in Canada” and “Best Place to Raise a Family” by Maclean’s Magazine.

Home prices have grown with Burlington’s popularity, but there’s still a fairly wide range available. You can find starter condos for as little as $500k, or spacious waterfront houses that sit near the $6 million mark. It all depends on what you’re looking for—and whatever it is, you’ll probably find it here.

Neighbourhoods To Meet Your Needs

In Burlington, you’ll find a wide variety of homes to meet nearly every set of buying needs and preferences. Here are just a few fantastic local options.

Ideal For Families

The Orchard

Situated in Northeast Burlington, the Orchard is a relatively new neighbourhood (think 1990s). The area is known for its beautiful suburban houses and reputable local schools. Proximity to the majestic Bronte Creek Provincial Park—along with plenty of outdoor trails and playgrounds—make the area ideal for parents with little ones. with Appleby Plaza nearby, you’ll also find no shortage of retail and dining options.

Tyandaga

With its attractive trails and scenic waterfront views, Tyandaga is a favourite among families. This community to the northwest features public tennis and golf clubs, which means there’s never any shortage of fun things to do. You’ll also find some beautiful homes, including many in the Georgian, Colonial, and Tudor styles. Some of these houses are on the slightly more affordable side—at least by Burlington standards.

Plains

If you’re looking for a well-established neighbourhood near the city’s core, consider Plains. The area is more affordable than many, with a mix of well-maintained older and newer homes. Thanks to nearby GO transit and the Fairview Mall, it provides a low-hassle lifestyle for families. Plains is also close to the Royal Botanical Gardens—a lovely spot for weekend picnics with the kids!

Historical Gems

Downtown

If you’re looking for a bonafide heritage home (we’re talking about century-old houses with pretty period details), look no further than the downtown core. Along with these historic jewels, the area contains charming townhouses, luxury condos, and everything in between. Of course, the local homes aren’t the only thing to love about living in the city centre. From beautiful Spencer Smith Park and the urban waterfront to a plethora of retail and dining hotspots, Downtown Burlington has it all.

Roseland

Whether Roseland residences count as “historic” depends on your definition. Sure, the older homes here fall shy of the 100-year mark—and there are plenty of newer, custom-built affairs. That said, you’ll find an abundance of half-century-old houses here that are nothing short of stunning. Mature trees and lakefront views only add to the splendour—while proximity to the QEW and Burlington Mall make day-to-day life ultra convenient. Needless to say, home prices tend to be on the steep side.

Shoreacres

In the south end, you’ll find a prestigious neighbourhood with an abundance of charm. Like Roseland, Shoreacres is made up of majestic streets lined with beautiful homes that are around 50 years old. There are also plenty of green spaces (including Paletta Lakefront, Henderson, and Strathcona Parks). Nearby Appleby Mall puts all the conveniences residents need at their fingertips, while the presence of John T. Tuck Public School (which gets top-notch marks from the Fraser Institute) makes the area an ideal one for families.

Newer Homes

Alton Village

If only a brand new home will do, you may want to consider Alton Village. Situated in North Burlington, this lovely suburban community is home to some truly beautiful houses (including many from heavy-hitter developers like Mattamy and Fernbrook Homes). It’s also the site of Norton Community Park (with its play structure, fields, and off-leash park, among other features). Lastly, the area is a commuter’s paradise, providing easy access to the 407, QEW, and the nearby Appleby GO Station.

What to Know About Burlington Real Estate…

Trying to decide whether Burlington is right for you? There are a few major benefits that may tip the scales in the city’s favour. For one, your home-buying dollars will go further here than they would in a place like Toronto. While it’s true that prices have risen in recent years, the value for money in Burlington is well worth considering. In other words: if you’re looking for more space to spread out, this a great place to find it.

In particular, many of the city’s neighbourhoods feature an abundance of bungalows. These layouts have been making a major comeback, thanks to their practicality—and how flexible they are. Whether you’re looking for a place that could accommodate a home office, an extra bedroom, or whatever future renovations you desire, a bungalow with good bones could be ideal.

The truth is, Burlington has a lot more to offer—in terms of communities and housing stock. By speaking with an agent who knows the city intimately, you can find a place that fits your budget and checks off all your boxes!

Are you starting the search for your perfect home and have questions about the Burlington real estate market? Reach out today!

Are you searching for the ideal family-friendly community? When you drive down peaceful tree-lined streets, see kids and parents out and about, and immediately picture you and your loved ones living there, too—that’s when you know you’ve found it.

Here are a few things to look for as you begin your search…

1) The Right Feel

The neighbourhood that’s right for you will depend on your family’s unique needs. But whether you’re in the suburbs, city, or a small town, being near other parents with kids will likely make you feel at home. You’ll probably want a place where you can get to know your neighbours—and be a part of a close-knit community. Many families also prefer quieter areas outside the downtown core, where there’s less traffic.

2) School District

Now’s the time to do your homework and look into local school districts. The Fraser Institute is a trusted resource when it comes to rankings for both elementary and secondary options. Once you’ve narrowed it down to a couple of schools, you may also want to book a time to visit each one. Taking this step will give you a better feel for the potential environments. You should also look into nearby daycares if you have a younger child or need extra support.

3) Amenities

To us, a family-friendly neighbourhood isn’t complete without convenient amenities. When you need to do a quick grocery run or pick up some supplies for a last-minute school project, you’ll be thankful you have all the shops you need nearby. And when it’s finally time to relax, having a great selection of local restaurants, cafes, and maybe even a local wine shop nearby may be just what you need to unwind.

4) Parks

Need a bit of fresh air? Kids and family members of all ages can appreciate a beautiful green space, especially when it’s within walking distance of your home. Whether it’s a playground with splash pads and basketball courts or a wide-open park with biking and walking trails, having a place to enjoy the great outdoors could greatly improve your family’s quality of life. In fact, the more options you have around, the better!

5) Family-Friendly Houses

Finally, let’s get to what matters most: your future home. Your ability to find the right house, condo, or attached living space will depend in part on how well you know your family’s current and future needs. Do you need an extra parking space for more than one car? How many bedrooms and bathrooms will you likely require in the years ahead? Should there be room for a potential in-law suite one day?

Finding the right home for your family can take some effort, but the right guidance will simplify the process. With our team, you’ll get all the help you need to plan for the immediate future—and far beyond.

You’ve planned and saved, and now it’s finally time to start your home search in earnest. Not so fast. Before you take the next step, you’ll want to ensure you have helpful expertise on your side.

The truth is, the right real estate guidance could mean a smoother, more enjoyable buying experience—and a better purchase price. If you’re ready to buy, read our top tips on how to hire the best local professional for you!

Conducting Interviews

Contrary to popular belief, not all buyer’s agents are the same. By speaking with a few different professionals, you can get a sense of what’s out there—and help ensure that you find someone who’s well-equipped to serve your unique buying needs.

Before interviewing prospective agents, jot down a few important questions. Some that you may want to touch on include:

• How well do you know my neighbourhoods of interest?
• Can you walk me through the buying process?
• Can you tell me a bit about your negotiation style?
• If I find myself in a multiple-offer scenario, how will you help me win?
• What’s the best way to contact you?

In addition to providing you with insight into the interviewee’s approach, sitting across from someone can help you get a sense of what they’re really like. If you feel at ease, it’s likely a good sign!

The Right Experience

It goes without saying that you want to work with someone who has a very solid grasp of the buying process. From obtaining pre-approval to making an attractive offer to wrapping up closing details, they should understand the common challenges associated with every step—and how to overcome them.

Next up, consider community expertise. If an agent has been working in your area of interest for years, they’re probably a great resource. If they can tell you about recent price shifts, local school districts, and the places that serve up the best coffee, it’s another potential sign that you’re in good hands!

You’ll probably also want to get a sense of whether they’re familiar with all property types. For example, you want to work with someone who has a reasonable amount of condo expertise if you’re buying a unit. Likewise, it may be helpful to know whether they’re used to working with buyers like you. In some ways, your needs will be different depending on whether you’re a first-time buyer or a downsizer.

Ask About Connections

These days, the best real estate agents offer full-service experiences. That means more than hands-on attention, ongoing expertise, and a willingness to help at any time. It’s also about having an available network of trusted professionals to assist you with anything that falls outside of their scope of expertise.

Trust us when we say, finding an agent with a reliable list of industry contacts is worthwhile. From mortgage brokers to real estate lawyers to professional movers, having insider connections who represent the best in the business can make the buying process much lower-stress.

Speak to References

Last but not least, don’t be afraid to ask for references. Some buyers are hesitant to take this step, but agents are used to it. Perusing reviews and testimonials can give you a good idea of the level of service (and results) a professional provides, but it won’t tell you the whole story. Nothing beats being able to ask questions firsthand!

There’s no doubt that finding the right agent takes a little more work than picking the first professional you come across, but it’s worthwhile. By doing your homework, you can help ensure a better buying experience—and a result you’ll be more than happy with!