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Affordable Living in Melbourne: Top Houses for Sale under $500,000

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melbourne house for sale cheap

Looking for a house in Melbourne that won’t break the bank? You’ll be glad to know that affordable housing options are available for those on a budget, with a variety of properties on the market for under $500,000. Whether you’re a first-time buyer or looking to downsize, there are plenty of options to consider when it comes to affordable living in Melbourne.

If you’re wondering where to start your search, it’s always a good idea to do your research on the different suburbs and neighborhoods in Melbourne. Each suburb has its own unique character and community, so it’s important to choose one that suits your lifestyle and budget. Some suburbs may be more expensive than others, so you’ll need to weigh up the pros and cons before making a decision.

1. Western Suburbs

If you’re looking for affordable living in Melbourne, the western suburbs have a lot to offer. Suburbs like Sunshine and Footscray have seen a significant rise in popularity in recent years, with an influx of young professionals and families moving to the area. With a range of local amenities and easy access to the city, these suburbs are a great option for those on a budget.

1.1 Sunshine

Sunshine is a great option for those looking for affordable living in Melbourne. Located just 12km from the CBD, Sunshine offers a range of local amenities and easy access to public transport. With a median house price of $600,000, it’s more affordable than many of the surrounding suburbs.

1.2 Footscray

Footscray is another popular western suburb, with a lot to offer in terms of affordable housing options. With a median house price of $755,000, it’s slightly more expensive than Sunshine, but still more affordable than many other suburbs in Melbourne. It’s well-connected to the city and offers a range of local amenities, including cafes, restaurants, and shops.

2. Northern Suburbs

The northern suburbs of Melbourne are also worth considering if you’re looking for affordable housing options. Suburbs like Brunswick and Coburg have become increasingly popular in recent years, with a younger demographic attracted to the area’s cultural diversity and vibrant community.

2.1 Brunswick

Brunswick is a popular suburb in Melbourne’s inner north, known for its trendy cafes, bars, and restaurants. It’s well-connected to the city with a range of public transport options, and offers a range of affordable housing options. With a median house price of $1,200,000, it’s slightly more expensive than some of the other suburbs on this list, but still relatively affordable for the area.

2.2 Coburg

Coburg is another northern suburb that’s worth considering if you’re looking for affordable living in Melbourne. With a median house price of $880,000, it’s more affordable than some of the surrounding suburbs, making it a popular choice for young families and first-time buyers.

3. Eastern Suburbs

The eastern suburbs of Melbourne are generally considered to be more expensive than other parts of the city, but there are still some affordable options available if you know where to look. Suburbs like Ringwood and Box Hill offer a range of affordable housing options, with easy access to the city and a range of local amenities.

3.1 Ringwood

Ringwood is a popular eastern suburb that’s well-connected to the city with a range of public transport options. With a median house price of $820,000, it’s one of the more affordable suburbs in this part of Melbourne, making it a popular choice for families and young professionals.

3.2 Box Hill

Box Hill is another popular eastern suburb that’s worth considering if you’re looking for affordable living in Melbourne. With a median house price of $1,300,000, it’s slightly more expensive than Ringwood, but still relatively affordable compared to other parts of the eastern suburbs.

4. South-Eastern Suburbs

The south-eastern suburbs of Melbourne are known for their leafy streets, family-friendly vibe, and easy access to the city. Suburbs like Bentleigh and Moorabbin offer a range of affordable housing options, with access to local parks, schools, and public transport.

4.1 Bentleigh

Bentleigh is a popular south-eastern suburb that’s known for its family-friendly vibe and access to local amenities. With a median house price of $1,400,000, it’s slightly more expensive than some of the other suburbs on this list, but still relatively affordable compared to other parts of the south-eastern suburbs.

4.2 Moorabbin

Moorabbin is another popular south-eastern suburb that’s known for its affordable housing options and access to local amenities. With a median house price of $1,250,000, it’s slightly more expensive than Bentleigh, but still relatively affordable compared to other parts of the south-eastern suburbs.

FAQs

What is the median house price in Melbourne?

The median house price in Melbourne is currently around $1,000,000. However, there are still a variety of affordable housing options available for those on a budget.

Where can I find affordable housing options in Melbourne?

There are a variety of suburbs in Melbourne that offer affordable housing options, including Sunshine, Footscray, Brunswick, Coburg, Ringwood, Box Hill, Bentleigh, and Moorabbin.

What should I consider when buying a house in Melbourne?

When buying a house in Melbourne, it’s important to consider factors like location, local amenities, access to public transport, and the overall cost of the property. You may also want to consider factors like the size of the property, the number of bedrooms and bathrooms, and whether any renovations or repairs are needed.

Where can I find more information about buying a house in Melbourne?

If you’re looking for more information about buying a house in Melbourne, check out our Guide to Buying a House in Melbourne for useful tips and advice.

Overall, buying a house in Melbourne can be an expensive venture, but there are still affordable options available for those on a budget. By doing your research and considering different suburbs and neighborhoods, you’re sure to find a property that suits your lifestyle and budget.

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