For Rent

$2,600

56 Waterlilly Way | Hamilton, Ontario

Neighbourhood:

Book A Consultation

Property Description

Welcome to this bright end-unit Tulip model in Laguna Village at Summit Park, offering functional, low-maintenance living in one of Hamilton’s most established and expansive master-planned communities. With approx. 1,438 sq ft across three levels, this home is filled with natural light thanks to its end-unit positioning and additional windows throughout. The main living level features a well-designed layout with open yet defined living and dining areas, modern laminate flooring, and a walkout to a covered balcony that feels like an extension of your living space. Morning coffee, evening wind-down… it just works. The kitchen is both stylish and practical with quartz countertops, stainless steel appliances, and a large breakfast bar with seating.

The ground level offers a versatile media room, ideal for a home office, secondary living space, or playroom along with direct access to the garage, adding everyday convenience and functionality. Upstairs features three generously sized bedrooms and a full 4-piece bath, along with a convenient powder room on the main living level. Located within the larger Summit Park community known for its parks, schools, and everyday amenities, this home offers true community living with seamless commuting and access to highways.

CALL AGENT

Joanna Saddiq

Overview of 56 Waterlilly Way | Hamilton, Ontario

FEATURES

BEAUTIFUL END UNIT 3 STOREY HOME IN THE DESIRED LAGUNA VILLAGE AT SUMMIT PARK

Tons of windows add natural light throughout

Updated designer light fixtures throughout

Direct garage access

2 car parking (1 garage space)

Steps to a park and greenspace

Easy living with convenient access to local shops and services

Visit the nearby Eramosa Karst Conservation Area with trails, caves and natural beauty

Wide variety of schools nearby

Seamless commuting with access to highways

Property Stats

MLS

X13062100

Sq Ft

1438 Sq Ft

Bed

Bath

1+1

KITCHEN

LARGE BREAKFAST BAR/ISLAND – SEATING FOR 4

Quartz counters and stainless steel appliances

Abundance of natural light

LIVING & DINING

MODERN GREY LAMINATE

Separate media room on main floor

Spacious family room and designed dining area

Walkout to covered balcony

Tons of additional storage plus pantry

BEDS & BATHS

THREE BEDROOMS WITH WINDOW COVERINGS

2pc powder room on 2nd floor main living area

4pc main bath for bedrooms

“Like new” cozy carpeting

BASEMENT

PROPERTY VIDEO

VIRTUAL TOUR

GOOGLE MAPS

Interested in 56 Waterlilly Way | Hamilton, Ontario?

Get in touch now!

Property Listing Contact Form

Buyer Faq's

How do I know how much house I can actually afford in Ontario?

Start with your income, debts, down payment, and monthly costs. A lender pre-approval plus a realistic budget will show what feels affordable, not just what you qualify for.

What is the minimum down payment required to buy a home in Ontario right now?

Usually at least 5% of the first $500,000 and 10% of the portion from $500,000 to $1.5M. If you put down less than 20%, mortgage default insurance usually applies.

Should I get pre-approved for a mortgage before I start looking?

Yes, getting pre-approved early helps you understand your price range, monthly payment, and borrowing limits before you start viewing homes or making offers.

What kind of mortgage should I get — fixed, variable, or something else?

It depends on your budget, risk tolerance, and how long you plan to keep the mortgage. Fixed offers payment stability, while variable can offer flexibility and lower penalties in some cases.

How much are closing costs when buying a home in Ontario?

Many Ontario buyers should budget roughly 1.5% to 4% of the purchase price for closing costs, depending on land transfer tax, legal fees, inspections, title insurance, and adjustments.

What is Ontario land transfer tax and do first-time buyers get a rebate?

Ontario land transfer tax is a provincial closing cost based on the purchase price. Eligible first-time buyers may qualify for a rebate of up to $4,000.

What makes a neighbourhood a good location in Ontario?

A great location usually balances commute, schools, amenities, safety, resale potential, and the lifestyle you want day to day.

How long does the home-buying process take in Ontario?

Many Ontario purchases take about 30 to 90 days from accepted offer to closing, but the full buying journey can be longer depending on financing, search time, and conditions.

Do I really need a home inspection?

Not always, but a home inspection can reveal costly issues before you commit. It is especially valuable for older homes, unique properties, or homes with visible wear.

How do I calculate monthly homeownership costs in Ontario?

Add your mortgage payment, property taxes, insurance, utilities, maintenance, and any condo fees. That full monthly number is what homeownership really costs.

How are property taxes calculated in Ontario?

In Ontario, property tax is based on your home’s MPAC-assessed value multiplied by your municipality’s annual tax rate, plus any local charges or adjustments.

Can I buy a home in Ontario with little or no down payment?

No-down-payment purchases are rare. Most buyers need at least 5% down, and anything under 20% usually requires mortgage default insurance and strong qualification.

How does the mortgage stress test work and how does it affect me?

You usually have to qualify at the higher of your contract rate plus 2% or 5.25%, which can reduce the amount you are approved to borrow.

What first-time home buyer programs exist in Ontario?

Common programs include the FHSA, Home Buyers’ Plan, Home Buyers’ Amount tax credit, and Ontario land transfer tax rebates for eligible first-time buyers.

Should I buy a condo or a detached house in Ontario?

A condo can be more affordable and lower-maintenance, while a detached home offers more space, privacy, and control. The right choice depends on lifestyle and budget.

What questions should I ask when viewing a property?

Ask about the home’s age, updates, known issues, monthly costs, inclusions, neighbourhood, utility bills, and any rules that could affect how you use the property.

How do I choose the right real estate agent as a buyer in Ontario?

Choose an agent with strong local knowledge, clear communication, honest advice, and a track record helping buyers in your price range and target areas.

What happens if I change my mind after I make an offer?

If your offer is firm, backing out can put your deposit at risk and expose you to damages. If conditions are still open, you may still have a way out before the deadline.

Is it better to rent or buy a home in Ontario right now?

It depends on how long you plan to stay, your real monthly costs, and how much flexibility you need. Buying builds equity, but renting can make more sense in the short term.

What is different about buying a pre-construction home in Ontario?

Pre-construction usually means longer timelines, staged deposits, possible delays, assignment rules, and occupancy fees before final closing. It can offer customization, but it adds uncertainty.

Do new homes in Ontario come with a warranty?

Most new homes in Ontario come with Tarion-backed warranty coverage, but what is covered depends on the issue and timeline. Always review the warranty information sheet.

How do I buy an investment or rental property in Ontario?

Start with financing, projected rent, carrying costs, vacancy risk, and landlord rules. A good rental purchase works on cash flow, tenant demand, and long-term resale potential.

What credit score do I need to get the best mortgage rate in Canada?

There is no single magic score, but borrowers with strong credit, stable income, and low debt usually get the best pricing. In practice, 680+ often opens more options.

What are the biggest mistakes first-time buyers make in Ontario?

Common mistakes include shopping before pre-approval, skipping closing-cost planning, stretching the budget, ignoring monthly carrying costs, and moving too fast on the wrong home.