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Buy in Melbourne: The Best Affordable Houses for Sale in the City

10 mins read
melbourne house for sale cheap

Looking to buy a house in Melbourne? The good news is that you don’t have to break the bank to find a quality home in the city. Thanks to its diverse neighborhoods, Melbourne offers numerous options for affordable houses that suit different lifestyles and budgets.

If you’re looking for a bustling urban center, you’ll love neighborhoods like Richmond, Fitzroy, and St Kilda. But if you prefer something more laid-back, you might consider areas like Williamstown, Eltham, and Ferntree Gully. Whatever your taste, there’s an affordable house out there that’s perfect for you.

1. Inner North: Coburg

Coburg is an up-and-coming neighborhood in Melbourne’s inner north that presents some of the best investment opportunities for first-time home buyers. Despite its close proximity to the city, Coburg has managed to retain its unique charm, with its quaint streets lined with family-run businesses, cafes, and restaurants. Besides its rich cultural offering, Coburg is also known for its affordable housing options, with median house prices hovering around $800,000.

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2. Western Suburbs: Sunshine

Located just 11km west of Melbourne’s CBD, Sunshine has become a hotspot for first-time home buyers looking for affordable houses. The neighborhood is well-connected to the city, with numerous public transport options, including bus and train services. Other notable facilities in Sunshine include the Sunshine Hospital, educational institutions, parks, and public pools. You can expect to find a quality home in Sunshine for around $500,000 to $600,000.

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3. Bayside: Chelsea

If you’re looking for a home by the beach, Chelsea could be your perfect match. Its stunning beachfront location, coupled with its relaxed and friendly community, make it a great place to call home. Chelsea’s median house prices sit around $900,000, which is relatively affordable given its coastal location. You’ll also find great local schools, shopping strips, and public transport services in Chelsea.

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4. Inner South: St Kilda East

St Kilda East is another inner-city suburb that offers great value for money for first-time home buyers. It’s situated close to the city, with easy access to public transport services, while still retaining its unique village-like charm. You’ll find an abundance of cafes, bars, and restaurants, as well as beautiful parks and beaches. House prices in St Kilda East average around $1.3 million.

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5. Eastern Suburbs: Box Hill

Box Hill is a bustling Asian-Australian neighborhood located in Melbourne’s east. It’s known for its great food scene, retail shopping, and excellent schools. There are plenty of public transport options available to get you to the city, and house prices are relatively affordable, with a median price of around $1 million.

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6. Northern Suburbs: Reservoir

Reservoir is another up-and-coming neighborhood in Melbourne’s north that presents great opportunities for first-time home buyers. It’s located only 12km from the CBD and has excellent public transport links, making it easy to commute to work or explore the city. The neighborhood is also home to several schools, parks, and amenities. The median house price in Reservoir is around $750,000.

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7. South-East Suburbs: Clayton

Clayton is an attractive suburb located in Melbourne’s southeast. It boasts several world-class institutions, including Monash University and Monash Medical Centre, making it a great place for students, academics, and healthcare professionals. You’ll also find excellent shopping and dining options in Clayton, while the beach and the city are only a short drive away. Clayton’s median house price is around $1 million.

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8. Inner West: Footscray

Footscray is a multicultural suburb located just a few kilometers from Melbourne’s CBD. Despite its proximity to the city, Footscray is still very affordable, with median house prices sitting at around $850,000. The area is known for its diverse food scene, which ranges from Vietnamese pho to Ethiopian cuisine. You’ll also find plenty of art galleries, music venues, and parks in Footscray.

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9. North-West Suburbs: Sunshine West

Sunshine West is a vibrant suburb located in Melbourne’s north-west. Its close proximity to the city, combined with its affordable house prices (median $600,000 to $700,000), make it an excellent option for first-time home buyers. The suburb is served by several schools, public transport links, and recreational facilities, including parks and sports centers.

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10. South-Eastern Suburbs: Springvale

Springvale is a multicultural suburb located in Melbourne’s southeast. It’s known for its bustling fresh produce markets and excellent Asian-inspired cuisine. The neighborhood is well-connected to the city, with buses and trains running daily. House prices in Springvale average around $750,000, making it an affordable option for first-time buyers looking for a diverse and friendly community to call home.

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FAQs: Buying a House in Melbourne

Here are some frequently asked questions about buying a house in Melbourne:

What are the steps to buying a house in Melbourne?

The process of buying a house in Melbourne involves several steps, including finding a suitable property, obtaining finance, conducting inspections, and making an offer. You can find detailed information on the Guide to Buying a House in Melbourne.

How much does it cost to buy a house in Melbourne?

The cost of buying a house in Melbourne varies depending on the location, size, and condition of the property. However, you can find affordable houses in Melbourne for as low as $500,000, while the median price for a home in the city is around $1 million.

What are the best suburbs to buy a house in Melbourne?

Melbourne offers numerous options for affordable houses in different neighborhoods. Some of the best suburbs to buy a house in Melbourne include Coburg, Sunshine, St Kilda East, Reservoir, Clayton, Footscray, and Springvale.

How do I negotiate the price of a house in Melbourne?

Negotiating the price of a house in Melbourne involves several factors, such as your budget, the market trends, and the condition of the property. You can start by researching the prices of similar houses in the area and making a reasonable offer based on your findings. Working with a professional real estate agent can also help you negotiate a fair price for a home in Melbourne.

Conclusion

Buying an affordable house in Melbourne has never been easier. With its diverse neighborhoods, excellent public transport links, great schools, and relaxed lifestyle, Melbourne offers plenty of options for first-time home buyers. Whether you’re looking for an inner-city home or a coastal retreat, there’s a house out there that’s perfect for you.

If you’re considering buying a house in Melbourne, be sure to check out the Guide to Buying a House in Melbourne for more information on the buying process and tips on finding your dream home. Happy house hunting!

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