Why Choose a House Near Melbourne’s CBD?
Living close to the CBD has numerous advantages. From shorter commute times to easy access to amenities, entertainment, and cultural events, there’s a lot to love about being in the heart of the action. Additionally, properties closer to the city often experience higher capital growth, making them a smart investment.
Suburbs to Consider
Brunswick
Brunswick is a vibrant suburb known for its eclectic mix of cultures, trendy cafes, and lively music scene. Located just 6 kilometers north of the CBD, Brunswick offers a variety of housing options, including charming Victorian terraces and modern apartments. The median house price in Brunswick is around $950,000, making it an attractive option for buyers looking to stay within budget.
Footscray
Situated approximately 7 kilometers west of the CBD, Footscray is a rapidly gentrifying suburb with a rich multicultural heritage. Known for its bustling markets, diverse food scene, and vibrant arts community, Footscray offers a unique lifestyle at an affordable price. The median house price in Footscray is around $900,000, making it a viable option for those looking to buy close to the city.
Coburg
Coburg, located about 8 kilometers north of the CBD, is another suburb worth considering. With its mix of period homes and new developments, Coburg offers a range of housing options to suit different tastes and budgets. The suburb boasts excellent public transport links, parks, and schools, making it a popular choice for families. The median house price in Coburg is approximately $930,000.
Factors to Consider When Buying
Proximity to Public Transport
One of the key factors to consider when buying a house near the CBD is its proximity to public transport. Easy access to trains, trams, and buses can significantly reduce commute times and increase the convenience of living in the area. Suburbs like Brunswick, Footscray, and Coburg are well-served by public transport, making them ideal for city commuters.
Local Amenities
Access to local amenities such as shops, schools, parks, and healthcare facilities is another important consideration. Suburbs close to the CBD often offer a wide range of amenities, ensuring that residents have everything they need within a short distance. When evaluating potential suburbs, consider the availability of these amenities and how they align with your lifestyle needs.
Future Growth Potential
Investing in a property is not just about finding a place to live; it’s also about securing a valuable asset for the future. When choosing a suburb, consider its growth potential. Suburbs undergoing gentrification or with planned infrastructure developments often see significant capital growth over time. Research the property market trends and future development plans for the suburbs you’re considering to make an informed decision.
Additional Suburbs to Explore
Preston
Preston, located about 9 kilometers north of the CBD, is a diverse and rapidly growing suburb. Known for its vibrant community, excellent dining options, and proximity to the popular Preston Market, this suburb offers a mix of older homes and new developments. The median house price in Preston is around $980,000, making it a great option for buyers looking to stay under the $1 million mark.
Thornbury
Thornbury, just 7 kilometers north of the CBD, is a hip and happening suburb that has seen a surge in popularity in recent years. With its trendy cafes, bars, and music venues, Thornbury offers a lively lifestyle close to the city. The median house price in Thornbury is approximately $970,000, making it an attractive option for those seeking an affordable house near Melbourne’s CBD.
Maidstone
Located about 10 kilometers west of the CBD, Maidstone is a hidden gem that offers excellent value for money. With a mix of older homes and new developments, Maidstone provides a range of housing options to suit different budgets. The suburb boasts good public transport links, parks, and shopping centers, making it a convenient place to live. The median house price in Maidstone is around $950,000.
Tips for Finding the Right Property
Work with a Local Real Estate Agent
A local real estate agent can provide invaluable insights into the property market and help you find the best deals. They have in-depth knowledge of the suburbs you’re interested in and can guide you through the buying process, ensuring that you make an informed decision.
Attend Open Houses and Auctions
Attending open houses and auctions is a great way to get a feel for the market and see what’s available within your budget. It also allows you to compare different properties and understand the value of homes in the area.
Be Prepared to Act Quickly
The property market near Melbourne’s CBD is highly competitive, and desirable properties can sell quickly. Be prepared to act fast when you find a property that meets your criteria. Have your finances in order and be ready to make an offer to secure your dream home.
Finding an affordable house within 10 kilometers of Melbourne’s CBD is challenging but not impossible. Suburbs like Brunswick, Footscray, Coburg, Preston, Thornbury, and Maidstone offer a range of housing options under $1 million. By considering factors like proximity to public transport, local amenities, and future growth potential, you can find a property that suits your needs and budget.
With the right approach and a bit of persistence, you can secure a home close to the heart of Melbourne without breaking the bank. Happy house hunting!
Author: RealEstate
About The Author
