Why Melbourne Is a Smart Choice for First Home Buyers
Buying your first home has never been more achievable, especially in Melbourne, where strong government support and smart strategies are helping new buyers enter the market with confidence.
First Home Buyer Benefits in Victoria
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Stamp Duty Waivers: In Victoria, first home buyers pay no stamp duty on properties up to $600,000, and receive significant discounts for purchases up to $750,000, offering savings of up to $31,000.
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First Home Owner Grant (FHOG): Receive a $10,000 grant when buying or building a new home valued up to $750,000.
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First Home Guarantee Scheme: Purchase with just a 5% deposit and pay no Lenders Mortgage Insurance (LMI); a major boost for new buyers trying to enter the market sooner.
Why Melbourne?
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Affordability: Compared to Sydney, Melbourne offers more accessible entry prices across many suburbs, ideal for young professionals and growing families.
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High Growth Potential: With new infrastructure, population growth, and vibrant lifestyle precincts, Melbourne continues to be a top performer in long-term capital growth.
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Diverse Options: From modern apartments to house-and-land packages, Melbourne provides variety for different budgets and lifestyles.
Strategies to Get Ahead
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Rentvesting: Buy in a growth corridor and rent where you want to live.
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Buy Then Upgrade: Get your foot in the door with a smaller investment, then use the equity to scale up.
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Joint Ownership: Team up with a friend or relative to split the deposit and ownership costs.
At Veeva Property Group, we help first-time buyers unlock the Melbourne market through tailored strategies and expert support every step of the way