New Condos Burlington
Nearby Cities with New Condos
Nestled along the shores of Lake Ontario, Burlington is a gorgeous city that’s part of the Hamilton metropolitan area. Known for its picturesque waterfront, lush parks, and vibrant downtown area, Burlington offers a high quality of life for residents.
Here, you’ll be spending weekends exploring over 127 parks and trails and raising a family in a safe environment with top-rated schools. If you’re looking for your new dream home from among new condos in Burlington, there’s a good chance you’ll find just what you are looking for here.
Burlington Pre-Construction Condo Market Trends 2024
According to the Toronto Regional Real Estate Board (TRREB), the average price for new condos in Burlington is $661,563. The average price for new homes in Burlington is $1,158,109. The average rental rate for all bedroom counts and property types is $2,540. The current average price per square foot for pre-construction condos in Burlington and other real estate properties is $960. Detached homes typically stay on the market for 16 days to sell. Condos have an average selling period of 30 days. Townhouses for sale in Burlington have an average market time of 19 days.
Pre-Construction Condos Burlington
Step-by-Step Guide to Buying a Pre-Construction Condo in Burlington in 2024
- Understand the Market: Research the current real estate market in Burlington, including trends, prices, and areas of interest.
- Set Your Budget: Determine how much you can afford, considering mortgage approval, down payments, closing costs, and additional fees.
- Get Pre-Approved for a Mortgage: Secure pre-approval to understand your borrowing capacity and demonstrate your seriousness to developers.
2. Choose the Right Location
- Identify Preferred Neighborhoods: Consider factors such as proximity to work, schools, public transportation, amenities, and future growth potential.
- Visit the Area: Spend time in the neighbourhoods you’re interested in to get a feel for the community and lifestyle.
3. Find a Reputable Developer
- Research Developers: Use the Ontario Builder Directory to verify that the builder is licensed and has a good track record of successful projects.
- Check Previous Projects: Visit completed developments to assess the quality of construction and the overall satisfaction of residents.
4. Select a Suitable Project
- Attend Sales Events and Presentations: Gather information about various projects, floor plans, and features.
- Review Floor Plans and Amenities: Choose a condo that meets your needs in terms of layout, size, and community amenities.
5. Hire a Real Estate Agent and Lawyer
- Choose a Real Estate Agent: Platinum Condo Deals is experienced in pre-construction condos and can provide valuable insights and negotiate on your behalf.
- Consult a Real Estate Lawyer: Our professional Real Estate Lawyer will review the purchase agreement and ensure your interests are protected
6. Review and Sign the Agreement
- Cooling-Off Period: Take advantage of the 10-day cooling-off period to review the agreement, secure financing, and perform due diligence (Condominium Authority of Ontario).
- Negotiate Terms: Work with your agent and lawyer to negotiate any terms or conditions that need adjustment.
7. Secure Financing
- Finalize Mortgage Approval: Confirm your mortgage with your lender, ensuring it aligns with the developer’s timeline. We are also offering free mortgage pre-approval.
- Prepare Down Payment: Be ready to make a series of deposit payments as outlined in the purchase agreement.
8. Stay Updated on Construction Progress
- Regular Updates: We will keep in touch with the developer for updates on construction progress and any changes to the project timeline.
- Site Visits: We will visit the site periodically to monitor progress with you.
9. Prepare for Interim Occupancy
- Understand Interim Occupancy: During this phase, you may move in and start paying an occupancy fee until the condo is registered and you receive the title (Home) (the BREL Team | Toronto Realtors).
- Budget for Occupancy Fees: These fees cover interest on the unpaid balance of the purchase price, estimated taxes, and maintenance fees.
10. Closing the Purchase & Move-in
- Final Inspection: Conduct a pre-delivery inspection (PDI) to identify any deficiencies or issues that need addressing before taking possession.
- Finalize Legal and Financial Matters: Your lawyer will handle the final paperwork, transfer of funds, and registration of the property (the BREL Team | Toronto Realtors).
- Prepare for Move-In: Coordinate your move, including setting up utilities, arranging movers, and purchasing necessary furnishings.
- Enjoy Your New Home: Once everything is settled, enjoy your new pre-construction condo in Etobicoke!
Reasons to Invest in New Condos in Burlington
Welcoming Community and High Quality of Life
New homes in Burlington have access to excellent schools, many gorgeous parks, and a strong sense of community perfect for raising a family. The city has an impressive reputation for its happy residents, 95% of whom rate their experience in Burlington as “Good” or “Excellent!” Plus, Burlington has been recognized as a safe place to live with a low crime rate (Crime Severity Index of 23.95) for a long time now, bringing additional peace of mind to its future residents.
Access to Nature and Outdoor Activities
The city boasts many green spaces, perfect for outdoor enthusiasts and those seeking relaxation in nature. In fact, new builds in Burlington benefit from one of the biggest, most radiant green spaces of any city in the province (1,436 acres of parkland, to be exact). Enjoy biking, hiking, kayaking, or simply spending time by the water and exploring the shoreline – Burlington has something for everyone!
Economic Opportunities and Proximity to Major Cities
It’s well known that Burlington’s diverse economy is thriving in sectors like advanced manufacturing, technology, and life sciences. One of the reasons that townhome developments in Burlington sell out so quickly is that the city ranks 23rd out of over 200 cities in a major award for Cities of the Future for Foreign Direct Investment Strategy. Plus, Burlington’s location in the GTA provides easy access to all of Toronto’s cultural, entertainment, and employment possibilities. It comes as no surprise that commuting to Toronto is a breeze thanks to the city’s access to major highways and excellent public transportation options like GO Transit and Burlington Transit.
Burlington Rental and Seller Market 2024
Rental Market
As of June 2024, the median rent for all types of new developments in Burlington sits at $2,540.
Sellers Market
As reported by the Toronto Regional Real Estate Board (TRREB), the average cost of a new condo in Burlington is $661,563, while the average price for a new home in the city is $1,158,109.
Average Renting and Selling Time in Burlington
-New Condos
Renting Time for Condos: Renting time for new condos in Burlington takes from a few days to two weeks.
Selling Time for Condos: Data shows that the average days on the market (LDOM) is 30 days, meaning properties are moving relatively quickly.
-New Homes
-Renting Time for Homes: Residents find and rent new Burlington homes in less than 14 – 30 days on average.
-Selling Time for Homes: New homes in Burlington are sold in an average time of 16 days on the market.
Neighbourhoods
North Burlington
North Burlington is growing quickly with residential developments, big-box stores, and commercial plazas. If you’re looking for affordable and growing communities with beautiful nature, consider Northern Burlington neighbourhoods.
1. Millcroft
- Highlights: Spacious homes with large yards, great education, double car garages, proximity to golf courses and pet stores.
- Perfect For: Growing families looking for ample space and a community feel.
2. Corporate
- Highlights: Trendy atmosphere, convenient access to shops, restaurants, and entertainment.
- Perfect For: Young professionals seeking a modern lifestyle with a strong sense of community.
3. Branthill
- Highlights: Peaceful atmosphere, excellent schools, abundance of parks, close proximity to the 407 and Niagara Escarpment.
- Perfect For: Families with children seeking a safe and nurturing environment.
4. Orchard
- Highlights: A relaxed suburban neighbourhood with attractive hiking, camping, and fishing opportunities, close to Burlington’s cultural hubs.
- Perfect For: Nature and outdoor enthusiasts, community-oriented individuals, commuters, young and growing families.
Central Burlington
Central Burlington is the heart of the region with a busy downtown core and easy access to modern shops, trendy restaurants and pubs, and historical landmarks like the Burlington Performing Arts Centre.
1. Central (Downtown Burlington)
- Highlights: Lively downtown core, great shops and restaurants, walkable streets.
- Perfect For: Young professionals, and urban enthusiasts seeking a lively atmosphere and convenient access to amenities.
2. Palmer
- Highlights: The mature tree-lined streets, large lots, spacious homes, and top-ranked schools, a desirable location for families.
- Perfect For: Families, young and mature households, those seeking a quiet, suburban lifestyle.
South Burlington
Southern Burlington neighbourhoods have a more suburban feel with established neighbourhoods and newer developments. This side is more popular with retirees and families thanks to its excellent schools, parks, beaches, and a slower pace of life.
1. Appleby
- Highlights: A prestigious area, waterfront tranquillity, walkability, and reliable public transportation.
- Perfect For: Lakeside lovers, families, and young professionals.
2. Dynes
- Highlights: Affordable housing options, convenient access to Burlington Mall and farmer’s market.
- Perfect For: Value-conscious individuals, downsizers, retirees looking for the rural charm close to urban amenities, and families.
3. Shoreacres
- Highlights: Breathtaking lake views, established community, excellent education, and variety of housing options.
- Perfect For: Families with small children, nature lovers, downsizers seeking luxury, and young professionals who enjoy nature.
4.Elizabeth Gardens
- Highlights: Affordable waterfront living, easy lake access, proximity to Bronte Harbour’s shops.
- Perfect For: Budget-conscious individuals, DIYers seeking restorable homes, families who crave a waterfront lifestyle.
Pros of Living in Burlington
- Thriving Arts and Culture: The city of Burlington has many great galleries, theatres, and performance venues that put local and international talent on show. Throughout the year, the city comes alive with vibrant festivals celebrating everything from art and music to jazz and cultural cuisine.
- Farm-Fresh Flavours: Burlington takes pride in its local food scene. Farmers markets brimming with fresh produce connect you with local growers, and local restaurants give you a taste of global flavours or farm-to-table delights.
- Nature at Your Doorstep: Burlington’s extensive network of trails, parks, and green spaces means there are ample opportunities to connect with nature. Hike or bike along scenic trails, explore the waterfront or simply relax in a nearby park. You can also adventure beyond the city to visit Niagara Escarpment or the nearby Bronte Creek Provincial Park for a day of hiking, camping, or fishing.
- Talent Pool: Burlington boasts a strategic location within a 45-minute commute of a highly educated talent pool of over 2 million people. This, combined with regional and international transit hubs, makes it an ideal location for companies seeking a skilled workforce and easy access to major markets.
- Families First: The city’s excellent schools, parks, and recreational facilities all create a nurturing environment for children to thrive. This is one of the reasons new pre-construction condos in Burlington are so popular among buyers.
- Canadian Flora: Burlington’s unique Royal Botanical Gardens, the largest botanical garden in Canada, is a piece of heaven on earth! Designated as a national historic site, these sprawling gardens are home to over 234,000 plants representing 6,800 taxa (unique types).
Cons of Living in Burlington
- Housing Market: While Burlington offers some affordable options, the overall cost of new homes in Burlington can be higher than in some surrounding areas. Plus, Burlington’s housing market can be competitive, with property values on the rise. This may pose a challenge for first-time homebuyers or those on a tight budget.
- Traffic Congestion: During peak hours, traffic congestion can occur, particularly around major roads and highways. Factor this in if commuting is a major concern.
Neighborhoods in Burlington
FAQs about New Condos and Homes in Burlington
Burlington’s housing market is competitive, and the overall cost of living can be higher than in some surrounding areas. However, the city offers a good variety of housing options and there are ways to be budget-conscious.
Living in Burlington means guaranteed easy access to everyday amenities from medical centres and schools to golf clubs and community centres. Plus, many newer communities are designed with walkability in mind and are built near parks and trails, shopping centres, and public transit options.
The average price of new condos in Burlington can vary depending on size, location, and features. A ballpark estimate would be in the range of $500,000 to $800,000 or higher. It’s important to research specific developments to get accurate pricing.
Whether a pre-construction condo is a good investment depends on your individual circumstances and risk tolerance. Consider your investment’s potential for appreciation, neighbourhood, and construction delays on top of seasonal market fluctuations.
The Sales to New Listings Ratio (SNLR) is an indicator that compares the number of sales to new inventory listed within a certain period. In Burlington, the SNLR for all property types was 51.5%, indicating a balanced market with equilibrium between supply and demand. To make the best and most informed decision, contact us for personalized advice.
Burlington is known for its beautiful waterfront location on Lake Ontario, its charming neighbourhoods, its thriving arts and culture scene, and its strong sense of community.
Yes, Burlington is known to be a safe place to live for homeowners and renters. On top of the overall lower crime rates, violent crimes in Burlington specifically are 32% lower than the national average. This means you can feel even more secure when going about your daily life.
Brant Hills, Millcroft, Orchard, and Elizabeth Gardens are popular choices for families due to their quiet streets, good schools, and parks.
You can find the most affordable condos for sale in Burlington in Dynes, Corporate, and Mountainside.
Elizabeth Gardens and Appleby offer beautiful waterfront living with easy access to the lake for those looking for beautiful lakeside pre-construction homes in Burlington.
Toronto is just a 42-minute vehicle commute away from Burlington, offering access to big-city experiences and employment opportunities.
Public transportation in Burlington is not as extensive as in some larger cities. Burlington Transit provides bus routes, but depending on your location and destination, it might not be the most convenient option. The city is investing in improving its transit system, so this could change in the future.
The down payment for a Burlington condo depends on its price: 5% for under $500,000, 10% for $500,000-$1 million, and 20% for pricier options.
For the latest information and a possible advantage in finding your dream property, consider signing up for our newsletter. We provide unique insights and knowledge that may not be available on general real estate websites.
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