First Home Buyer's Guide to West Melbourne

Why West Melbourne?

Melbourne's western suburbs have become one of the most exciting areas for first home buyers. With excellent transport links, growing infrastructure, and prices that won't break the bank, areas like Footscray, Yarraville, and Sunshine are attracting savvy buyers who want value without sacrificing lifestyle.

First Home Owner Grant (FHOG)

Victoria offers a $10,000 First Home Owner Grant for new homes valued up to $750,000. This can make a significant difference to your deposit, especially when combined with other concessions.

Eligibility requirements:

You must be 18 or over

You or your partner haven't previously owned property in Australia

You must live in the property as your principal place of residence for at least 12 months

Stamp Duty Concessions

First home buyers in Victoria can access stamp duty exemptions or concessions:

• Full exemption: Properties valued up to $600,000
• Concession: Properties valued between $600,001 and $750,000

On a $550,000 property, this could save you over $25,000 in stamp duty alone.

Top Suburbs to Consider

Footscray

A vibrant, multicultural hub with excellent dining and just 5km from the CBD. Median unit prices remain accessible for first home buyers.

Sunshine

Major infrastructure investment including the Metro Tunnel project is transforming this suburb. Great buying opportunities exist now before prices climb further.

Werribee

For those seeking more space, Werribee offers larger blocks and family-friendly amenities at competitive prices.

Getting Started

The first step is understanding your borrowing power. As an independent mortgage broker, I can help you navigate your options and find the right loan for your situation. Book a free consultation to discuss your first home journey.