May 21, 2021

Best Melbourne Suburbs for First Home Buyers

When you're planning on buying a new home, the location is often the first thing you think about. After all, you can always build your dream home from the ground up or remodel the one you will move into but turning a bad location into a great one is beyond your control. You will have to find the perfect neighbourhood that fits your lifestyle and provides your family with all the amenities you need.

At What If We Finance, we understand that a great location means different things to different home buyers. That's why we've rounded up some of the best suburbs in Melbourne for first home buyers. These areas offer the perfect mix between affordability and liveability.

A quiet street in the Box Hill suburb of Melbourne

Box Hill

Just 14 km east of Melbourne, Box Hill is a thriving suburb with a strong multicultural influence, with immigrants from Malaysia and China. Lovers of Asian and fusion cuisine will enjoy the restaurants and shops along Whitehorse Road and Station Street. There's also a major shopping centre with everything you could need plus an indoor market with major retailers and a food court.

Box Hill attracts families due to its top-notch schools and transport links to the city via trains, trams and buses. While rent and mortgages are more expensive than nearby suburbs, you will have a wide selection of beautiful homes to choose from.

Baybrook

Baybrook may have had a bad reputation in the past, but those days are long over.

Today, it's one of the best suburbs in Melbourne for families who want to find an affordable yet liveable community to live in. Most of the residential suburb is composed of tree-lined streets and tide, single-family homes. The community also boasts great parks and amenities, but many residents choose Baybrook for its great schools and community spirit.

Donnybrook

Donnybrook is a rapidly growing area that's becoming popular among first home buyers in Melbourne. Along with its neighbouring suburb Woodstock, there are plans in place for six government schools, four non-government schools, five local town centres, five convenience centres and about 46 hectares of parkland.

The recent upgrades to the Donnybrook station are also set to improve access, comfort and safety for passengers -- demonstrating the steady development of one of Victoria's fastest-growing communities.

Greenvale

Greenvale is a great community for families who want a comfortable living environment. It's mostly safe and quiet, with good schools for kids and great parks for leisure and recreation.

Proper planning of residential estates has also kept Greenvale eco-friendly -- truly living up to its name. The best part about this suburb is the peace and tranquillity it offers. It's country-style living at its finest.

The only downside is the traffic in the area and residential properties are pricier compared to neighbouring suburbs. But the investment you make will be worth it as you will live in a very safe suburb with picturesque surroundings and convenient local shopping.

Mickleham

The extremely popular and fast-growing suburb of Mickleham is a top consideration for homeowners and property investors alike. It's an ideal location for growing families looking for affordable housing as the suburb offers an average house price of $578,000.

It is approximately 10 minutes away from a hub of amenities such as schools, restaurants, shopping centres and sports facilities.

Officer

In the south east of Melbourne, you will find ever-expanding yet beautiful Officer. The suburb boasts a median house price of $593,000. It has always been a hotspot for home buyers due to its accessible transport links and some of Melbourne's best schools.

The suburb is also home to beautiful master-planned communities and estates surrounded by nature and urban amenities. A property in Office is an excellent option with a competitive investment value.

Melbourne suburban train station in Parkville

Parkville

Only three km north of the Melbourne CBD, Parkville is a sleepy suburb where residents enjoy a tranquil suburban lifestyle while staying close to the big city's culture, electric nightlife and entertainment options.

Rent and mortgages are slightly more expensive than nearby communities, but the prime location and lush scenery are worth the price tag. Parkville is surrounded by beautifully manicured green spaces, leafy streets and heritage homes. The Royal Park is a favourite hangout venue where residents play rugby and soccer until the sun sets.

Pakenham East

Once built, Pakenham East is set to feature 7,200 affordable new homes and create 1,300 new jobs. Home buyers can look forward to three community centres, a local town centre, three primary schools and a high school and over 44 hectares of sporting reserves and local parks.

As a brand new suburb with great potential, many high-quality developers believe Pakenham East is primed for rapid growth and development.

Sunshine North

Located 12 km west from the Melbourne CBD, Sunshine North is a small yet trendy neighbourhood. The community is mostly residential, with a light industrial section taking up about a third of the real estate area.

Residents here love the proximity to restaurants and shopping plazas. Housing mostly consists of single-story homes on quiet streets, perfect for the growing family looking to settle down in a safe and peaceful community.

Tarneit

Located only 25km from Melbourne's CBD, the leafy suburb of Tarneit has seen consistent growth over the years. The neighbourhood has countless walking trails and parks, and you can take a drive to Geelong or the Great Ocean Road for a weekend adventure.

For shopping, Werribee Plaza in proximity and so are other shopping outlets. There are also bustling hubs offering a slew of amenities. Multiculturalism is also another highlight in Tarneit, with people from all walks of life living in the community.

For more information and enquiries on these Melbourne suburbs, don’t hesitate to reach out to What If We Finance, your top mortgage broker in Melbourne. Contact us today!

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