Thinking about moving to Burlington?

Our experts at Woolcott Real Estate don’t blame you! There are so many life-changing reasons to live in this beautiful and quaint waterfront city. Burlington lands right in the middle of vibrant city life and rural country living, providing residents with a well-balanced lifestyle. We’re going to walk you through some note-worthy things to know about Burlington, especially if you’re planning to move there, courtesy of our friends at Blue Whale, the friendliest moving company we’ve had the pleasure of knowing.

1. Family-Friendly Neighbourhoods

Burlington offers a balanced combination of urban fun and quiet family living. The downtown core has its fair share of restaurants, nightlife, and various activities, with many chain restaurants, malls and local businesses stemming through the city. Weaving through the main streets are many quiet, residential neighbourhoods that are home to families, retirees, young professionals and everyone else in between.

If you have a family or are planning to start one soon, Burlington can provide the perfect home for you to grow. With many elementary and secondary schools, your children will have a plethora of opportunities when it comes to education. Our experts at Woolcott Real Estate can help you find the perfect home for you and your growing family, and at the right price too!

Burlington is home to some exciting new developments! Read our blog to see our top 6 new Burlington condo developments here.

2. Waterfront, Parks & Recreation

Burlington has a beautiful and spacious waterfront, right along Lake Ontario. Directly between Hamilton and Oakville, the waterfront stretches along the most southern and southeastern sides of Burlington. Spencer Smith Park is arguably the most popular lakefront entertainment area, complete with waterfront restaurants, parks for children, greenery, walkways and a boardwalk.

Other parks, waterfront areas and recreational hot spots include:

• LaSalle Park
• Paletta Lakefront Park
• Nelson Park
• Sherwood Forest Park
• Mount Nemo Conservation Area
• Lowville Park

If you’re looking for something fun to do with the family, why not check out the Royal Botanical Gardens (RBG)? Right on the cusp of the Hamilton-Burlington border, the RBG is home to beautiful gardens, wildlife, activities, events and more!

3. Malls & Amenities

Burlington is home to two malls: Mapleview Mall and Burlington Mall. These elite shopping centres bring some of the most popular and enticing retail stores to Burlington, including Sephora, Forever 21, H&M, The Bay, Indigo, Winners, and Apple, among many others!

Burlington offers residents a number of big-city amenities, including recreational swimming pools, hockey rinks, restaurants, banks, libraries, coffee shops, health and wellness centres, home and garden stores and so much more! For more information about the amenities available in Burlington, speak with one of our local realtors. They have a virtually unlimited wealth of information about living in bright and bold Burlington.

4. Festivals

Have you heard about the Sound of Music Festival?

It’s one of Burlington’s most popular festivals that takes place at Spencer Smith Park around the beginning of summer. Experience art and culture from resident artists, products and services from local businesses, food trucks, vendors and vibrant music.

Burlington also hosts an annual Ribfest and is right around the corner from neighbouring cities who host festivals, such as Supercrawl in Hamilton. Not to mention the many festivals that Toronto hosts, including the Toronto Jazz Festival, North by Northeast (NXNE), VELD, Digital Dreams, Caribana and Canadian Music Week.

We can’t count the number of reasons why Burlington is great, if you’re thinking about buying a home in Burlington, read some of our other resources here:

• Toronto Vs. Burlington: Where Should Home Be?
• 5 Top-Notch Schools in Burlington
• How to Spend the Perfect Day in Burlington

5. Travel

Enjoy easy and convenient access to many major GTA highways, including the 403, 401 and 407. Burlington also has three GO Transit stations, including Aldershot GO, Burlington GO, and Appleby GO, where travelers can board GO trains, GO buses and city buses. Burlington is within an hour of both Toronto Pearson International Airport and John C. Munro Hamilton International Airport if you plan to travel for business and/or leisure.

Houses for Sale in Burlington

Well, there you have it! Just about everything you need to know about Burlington if you’re thinking about moving there.

If you have any questions or inquiries about Burlington, please feel free to get in touch with the City of Burlington. On the other hand, if you’re looking for a real estate agent or Burlington realtors, contact our experts at Woolcott Real Estate.

In any real estate transaction, a smooth process and successful result are the goals. Unfortunately, it doesn’t always work out that way—even when there’s a legally binding contract in place. Although it’s far from the most common outcome, there are times when a buyer can’t live up to their obligations. When that happens, it’s important to know what you can do about it—whichever side of the transaction you’re on.

Here’s what sellers and buyers should know about real estate contract breaches…

How buyer contract breaches happen

There are many ways that a buyer can breach their purchase agreement. One of the most common occurs when their mortgage financing falls through, leaving them unable to afford their prospective home. Of course, a buyer who has included a financing condition in their offer will be protected under these circumstances.

In some cases, a buyer is unable to sell their property before closing. Again, under these circumstances, they may find themselves suddenly unable to afford their new home. There are many situations that could prevent buyers from fulfilling their contract requirements—but a bit of planning can help prevent this outcome.

Buying a home can be a complicated process with a lot of paperwork. Here are a few fundamentals you should learn about before taking the plunge:

• Should You Use the Same Agent to Sell and Buy a House?
• How to Win in a Multiple Offer Scenario
• 7 Amazing Benefits of Working with a Real Estate Agent

What sellers should know

When you accept a buyer’s bid, they’ll provide you with their earnest money deposit within 24 hours. This amount will be set out in their offer, but it’s typically around 5 per cent of their purchase price. If the buyer breaches your shared agreement, you may be able to walk away and hold onto this money. The circumstances under which you can do this will be specified in your contract (which is one of many reasons to ensure you fully understand what you’re signing).

If you believe you’re entitled to the deposit and the buyer disagrees, you have the option of taking legal action. Depending on the situation, you may also be able to sue a purchaser who breaches your contract for damages. An experienced real estate lawyer can help you understand what this entails.

Of course, legal action should be a last resort. Your best bet is to maximize the chances that any deal you strike will close smoothly. To help ensure that happens, due diligence is key—and it could help keep you out of a sticky situation.

Recently, we’ve seen scenarios where buyers make firm offers on multiple properties. They’re obligated to drop off their deposit cheques within 24 hours—but only do so for one of the home they’ve bid on. No seller wants to find themselves on the losing end of a situation like this (especially since pursuing legal action isn’t always worthwhile). Fortunately, an experienced listing agent can help you look out for red flags and take the right precautions.

Looking for more resources for sellers? Check out some of these blogs about how to sell your home:

• What’s Your House Really Worth?
• Minor Upgrades, Maximum Results
• Our Full-Service Real Estate Team’s Guide to Marketing Your Home

What buyers should know

Needless to say, if you breach your real estate contract, you may not get your deposit back. It can be a hard pill to swallow. For this reason—and because it’s the right thing to do—you should only enter into a real estate contract in good faith.

Know that the home you’re bidding on is the one you want. Carefully select the conditions you want to include (if any). For example, a financing condition will allow you to avoid losing your deposit if your mortgage falls through. Lastly, understand the consequences of defaulting on your purchase—and be sure to ask your agent for clarity when need be.

Of course, while it’s less common, there are also circumstances where sellers breach real estate contracts. If this happens, you’ll very likely be able to get your deposit back. There may be other legal remedies available to help you recoup expenses—and, in some cases, compel the seller to go through with your original agreement.

Ready to buy or sell your next home? We’ll help you tackle every detail—and ensure you know what to expect. Get in touch to get started!

As a developer, many buyers are pinning their hopes on you to help them achieve their dream of homeownership. The market for resale homes has become so competitive that each listing often gets multiple offers. Bidding wars are also common as buyers duel over a record shortage in inventory. However, it will be interesting to see what happens in the housing market over the next few months. The Bank of Canada has announced several upcoming increases to the interest rates over the course of the year. 

Is the Market About to Shift?

Current conditions might indicate a slightly cooler market in the months ahead. All signs point to prices remaining high. However, we may see an end to record-breaking growth. While inventory is not likely to increase, the pool of potential buyers may become smaller as the cost of borrowing becomes more expensive. 

An experienced local agent can take a lot off your plate. They’re experts on the neighbourhood and can have buyers in love with your development before it’s even complete. Want to know more? Here are some of our articles about selling:

• How To Sell An Investment Property
• Can a Local Agent Sell Your House for More Money?
• How Sellers Can Make the Most of a Hot Market

Why Work With An Outside Real Estate Team? 

The market can change on a dime, and it’s always essential to have a database of qualified buyers for your upcoming units. Being able to sell quickly is especially critical when you’re depending on those sales to help fund your next project.

Every day, more developers are seeing the benefits of collaborating with an outside real estate team to work with potential buyers. Why?

To Save Time

Selling a house is complicated. Each transaction involves a mountain of paperwork, and buyers have so many questions, often asking the same thing repeatedly. It’s understandable, since they’re about to embark on the most significant investment of their lives. 

When dealing with multiple buyers for different properties, things can get even more complicated. 

As a developer, you’re busy overseeing your project, managing your workers, and ensuring everything stays on track. When you’re juggling so many things, it can be hard to maintain relationships with buyers who may start to get frustrated if your project gets delayed. 

Working with an outside team who is knowledgeable about construction saves you a lot of time. Whenever a buyer has a question about a contract or wants help understanding the spec sheet, they will call the agent, not you. 

With a real estate team available at all times as the point of contact, you are free to do what you do best: Manage your team and develop new housing units.

Double Your Selling Power

Selling a pre-existing home that a buyer can walk through and see is easy. Selling a house that doesn’t even exist yet outside of the blueprints is much more challenging. You may already have an in-house agent to handle potential buyers who call or visit the model home. However, it’s critical to market your properties to a wider audience. 

A real estate team brings a wealth of marketing and sales skills to the table, resulting in a larger pool of qualified buyers. It allows you to expand your outreach without adding anything to your marketing costs. 

Improve Marketing Outreach at No Cost

Not every client is the right fit for a developer. The extensive waiting period and uncertain move-in date often won’t work for a buyer with a family looking for a home right away. However, a real estate team active in the community has access to buyers who are perfect clients for new developments. 

By the time you’re involved, they’ll have most of their questions answered and realistic expectations about buying pre-construction. Often, they’ll be prequalified for financing and have a down payment ready.

 A real estate team that is knowledgeable in pre-construction can keep buyers engaged and excited right up until completion day. 

Want to know more about how we interact with buyers? You can read some of our buyer-focused posts about new construction here:

• Resale Home or Preconstruction: Which One is Right For You?
• Pre-Construction FAQs: What to Know About Buying Brand New

To Manage Buyer Expectations

Buyers have expectations, and the situation can get tense when things don’t go as planned. The process for pre-construction works a little differently than buying a resale home. The closing dates are not set, and there are more costs to be aware of. A real estate agent works hard to strike the right balance between keeping the buyer excited about the project and realistic about the move-in date.

To Reduce Risk

Having an experienced real estate team at your disposal costs you nothing in terms of risk. The steady stream of qualified and eager buyers makes any commission well worthwhile. In the worst-case scenario, if they don’t sell your units, you pay nothing for their services.

Woolcott is currently ranked as the number one eXp Realor® for the Waterdown, Hamilton and Burlington areas. We have also ranked consistently ranked number 1 all across Canada. You can discover all there is to know about the Woolcott Advantage here.

Look at any real estate headline over the past year or two, and you’ll see the same story. The market is moving at a breathtaking pace, and it’s good news across the board for sellers. 

We are in one of the strongest seller’s markets the country has ever seen, and houses are selling fast, often over asking and without any conditions. 

How long does it take to sell a home? 

It depends on the market in your specific location, but the simple answer is not long. 

The market is very unbalanced right now, with far more hopeful buyers than available properties for sale. Three short years ago, in 2019, a house in Canada spent an average of 36 days on the market. Fast forward to 2022, where many houses sometimes sell within days of hitting the market. Many buyers are trying to get ahead of the competition by submitting preemptive offers far above the listing price.  

Are you ready to sell and want to do everything you can to maximize the value of your home? Here are some crucial but often overlooked ways to make your house appeal to buyers:

• Top Landscaping Tips to Help Sell Your Home
• Six Ways to Increase the Natural Light in Your Home
• How Sellers Can Make the Most of a Hot Market

Just How Strong is This Seller’s Market?

A typical market means there are enough homes available for sale to satisfy the demand for about five months. 

In the last year, the Canadian supply has been hovering around two months. And in some of the most competitive markets, we have seen as little as two weeks’ worth of inventory. Low interest rates fueled the demand even more as the lower cost of borrowing made it easier to afford a house even as prices increased.

With the market moving as fast as it is, it may be better to ask, “How long do you want to take to sell your house?” If you want a fast sale, you’re in a good position even if you don’t want to take much time to prepare. You can list on the MLS, and eager buyers will find you. The market is so competitive that even as-is homes tend to sell quickly. 

However, even though the market favours sellers, careful preparation can still help you get more for your home.

The extra time is well worth it to get the most possible from the sale. One of the critical elements to maximizing your earnings is to get your timing right.

Does a Fast Sale Really Matter?

Why do so many people believe the speed of sale is such an important metric? In most markets, it’s a bad sign if a property lingers too long. Fair or not, potential buyers will start to wonder if something is wrong with the property. It’s the same principle as when you see an empty restaurant during the dinner rush. It’s human nature to pass it by in favour of a restaurant where people are lined up out the door.

However, a fast sale isn’t everything. Spending a few more days on the market can get you more exposure and attract more potential buyers. As the demand for your home increases, so will its selling price.

How to Ensure Your Sale is a Success

Set an appropriate price

The Bank of Canada has recently increased the interest rate, which has caused a slight shift in the market. This change makes it tricky to decide how to set your price. It’s important not to list too high or too low, but to find the sweet spot that will attract the most qualified buyers. How do you know where to start? A comprehensive home evaluation will help you decide. 

Want to know more about home evaluations and how to set the right price? Check out these other posts below:

• What is A Home Market Evaluation
• How to Price Your Home for the Market

Make minor home improvements to increase its value 

The better your house looks as potential buyers walk through, the more successful your sale will be. A thorough cleaning is the easiest way to get your home into shape. Afterward, consider hiring professional painters and making other small repairs to modernize your home.

Market your house effectively

In such an aggressive market, listing on the MLS may be all you need to attract attention. However, the more people you reach, the more likely you will sell fast and command a higher price. An effective marketing strategy will give you the best possible exposure to help maximize your sale.

Work with a real estate agent

Having a professional by your side removes most of the stress and hard work of selling your home. They’ll guide you step by step through the entire process to ensure your sale is successful. In addition, an experienced, local real estate agent has a wealth of resources and marketing systems behind them. As a result, you’ll almost always earn more money from your property than you will when selling on your own. 

How do you find the right real estate agent for you? You can start with these
7 Questions to Ask Before Hiring an Agent to Sell Your Home.

What is it about Milton that makes it one of the best cities in Ontario for families? It’s diverse, scenic and safe, with many fun activities for children to do. The word about Milton is out, and it’s the fastest growing city in Ontario (according to Maclean’s Magazine.) The beautiful scenery and friendly neighbourhoods make it a popular destination for new immigrants to Canada.

No wonder property values here have reached all-time highs! 

What does this mean for you as a resident? There are more people looking to buy property here than there are homes for sale. If you’re lucky enough to own a house in Milton, the current market conditions are in your favour if you decide to sell.

What is the Real Estate Market Like in Milton?

Increased immigration and the exodus of people moving away from Toronto have created unique challenges and opportunities for buyers and sellers. Milton’s fast population growth has caused a spike in demand for houses, and average prices have increased all over the country. For sellers, there is an obvious opportunity. List your home now, and you’ll command a higher price than ever. Buyers are in for more of a challenge, but with the many new developments in Milton, there may be opportunities to get into the market at a relatively reasonable price. However, nothing is as simple as it sounds, and the real estate market is moving fast. It’s more important than ever to work with a qualified Realtor® who can help guide you through every step of your transaction.

Here are some guidelines to help you choose the right agent in the Milton area.

Start with Research

Contrary to popular belief, the Internet doesn’t know everything. However, it’s a good place to start with your research. If your Realtor® doesn’t have a website, it doesn’t necessarily mean they’re not qualified. But if they’re not using all of the tools available to market themselves, can you be sure they will go all out to advocate for you and marker your property? After an initial online search, you can begin contacting agents for an in-person or online interview.

Interview Potential Agents

How do you know what questions to ask a potential agent? A good Realtor® will have a strategic system based on their best practices over time. Start with a question or two about their process, and their eyes should light up with enthusiasm as they speak. Ask questions about the market and their experience in the area. They should be happy to address all of your concerns thoroughly and honestly. And while an experienced agent will be a source of knowledge and insight, they will not always have the answers. An ethical agent will admit not knowing, but will get back to you quickly. 

Look for Local Expertise

Without local experience, an agent must rely on market reports and general trends. While overall prices are up, things can vary from one neighbourhood to another. New developments can add to the supply and bring prices down, at least temporarily. An agent with local experience can help make sure you’re getting a fair price within the market. An agent who lives locally is even better. They can help you decide what neighbourhoods to look for to suit your interests and lifestyle.

Teamwork is key

When searching for an agent, it’s often best to avoid working with a lone wolf. The market is more complex than ever, and no one person can be an expert on everything. An agent backed by a team has a network of expertise to help with every step of your purchase.

Experience Matters

It’s important to work with an agent who has some experience, but professionalism and a commitment to service matter even more. Ideally, your agent should be part of a strong team with varied experience and expertise. A new agent under the guidance of a qualified Realtor® can bring an unparalleled level of enthusiasm to your transaction.

Look for an Advocate

It’s natural to want to hit it off with someone when you’re going to be working with them on the biggest purchase you’ll ever make. You need someone you feel comfortable with and that you can trust. However, you don’t want to choose an agent just because they are friendly or agreeable. Your agent is there to advocate for your interests, and they may not always tell you what you want to hear. Instead of looking for a friend, look for someone who is professional and courteous, and not afraid to address the issues when they come up.

What do the Reviews Say?

While you should often take online reviews with a grain of salt, they are valuable when you know what to look for. First of all, you want an agent with experience with buyers and sellers because they’ll have a deeper insight into both sides of the transaction. When glancing at reviews, you should see some from both buyers and sellers. And here’s another tip that will help you choose a great agent. Don’t just look at the reviews. Look at the responses. If an agent takes the time to respond to their reviews, you can rest assured they will also respond to your needs.

At Woolcott, we believe our team of local experts is our strongest advantage. You can find out more about our process and our service below:

• The Woolcott Advantage for Sellers
• Discover the Woolcott Advantage for Buyers
• Connect with an Expert to Answer Your Questions
  

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Selling an investment property is a little different than selling your primary residence. In some ways, it’s easier. You don’t have to pack up your belongings and move everything to a new home. When you sell, you can decide what you want to do with the profits and when.

You can fund your retirement or live your dream to travel the world. Or you can seek out a new investment that is more appropriate for this time in your life.

As a seller, the market is on your side. Prices are at an all-time high in 2022. You might think that would scare away potential buyers. But with low-interest rates, more people than ever are looking for their new forever homes. If you’re tired of being a landlord and want to cash out, there’s never been a better opportunity. 

Whatever your reason for selling, you want to maximize your sale as much as possible. Here are some tips to help you get more for your property:

• Five Tips For Marketing Your Home For a High Return
• How Sellers Can Make the Most of a Hot Market
• How To Price Your Home For the Market

Selling an investment property is less complicated than you think, but there are a few things you’ll need to be aware of.

You will have to pay a Capital Gains Tax.

When you sell your primary residence, there is no capital gains tax to worry about. The profits are all yours to do with as you wish. However, when you sell any other asset at a profit, there is a tax on it. This tax applies to any investment, like mutual funds, stocks, or bonds. It can even apply to personal items when you sell them for more than you pay for them. 

And, of course, capital gains apply when selling any house you don’t currently live in.

Some sellers hold on to a property for far longer than they should because they fear losing money because of capital gains taxes.

However, once you understand them, you’ll know what you can do to maximize your profit. 

First, let’s take a look at how these taxes work. They apply to 50% of your profits when you sell anything other than your primary residence. 

For example, imagine selling a property for $200,000 more than you paid for it.

• $100,000 is taxable. You’ll have to claim it as income at the end of the year. 
• The rest of the proceeds are yours free and clear to spend or invest however you like.

The amount subject to capital gains has fluctuated over the years.

First introduced in 1972, 50% of the profits of all assets became taxable. In 1990, the amount skyrocketed to 75%. Then in 2000, the Canadian government reduced it back to 50%. Recently, there has been talk of increasing the amount again. 

It’s unlikely because there are so few listings available and so many people trying to buy houses. The government is under pressure to do something to relieve this housing crunch and encourage homeowners to sell. However, with the debt incurred due to the pandemic, anything is possible. 

Reducing the Impact of Capital Gains. 

Your financial advisor or accountant can help you minimize the impact of the capital gains tax. How? There are several options available. 

You can choose to reinvest the bulk of your profit into a tax-sheltered investment such as an RRSP a TFSA. You may even be able to defer your payments to soften the blow. Charity donations are another way to pay less in tax overall.

Aside from the capital gains tax, you may face one more complication when selling an investment property. 

Want to know more about reinvesting your profits? These articles will help.

• Why Invest in Real Estate
• How to Grow Your Real Estate Portfolio in 2022
• Where to Invest in Real Estate in Ontario

What Happens if You Have Tenants?

It is perfectly legal to sell a house that has tenants. However, it is essential to know the law regarding tenant rights. For example, you can NOT evict a tenant to sell the home. A written lease protects your tenant from being evicted before the agreement is up. The new owner will have to honour all terms of the lease.

You must provide 60 days’ notice to tenants renting on a month-to-month term that you intend to sell. 

And as always, tenants have the right to 24 hours notice if you enter their unit for any reason, including showing it to prospective buyers.

Selling and cashing out your investment can give you a head start to the next chapter of your life. You’ll be free of the hassles of being a landlord and have the funds to enjoy many new adventures. 

If you decide the time is right and want to know how much your home is worth, you can get a free home evaluation here.