Tips for Buying a Home Under $350,000

Have you got up to $350,000 to spend on buying a home? There are a wealth of opportunities available for you!


The sunshine state is bursting with homes priced below $350,000. In the rapidly growing corridor between Brisbane and the Gold Coast, you can find a townhouse in Beenleigh for under $200,000. Or check out the new masterplanned community Yarrabilba, 35km north-west of Southport where you can find new homes on small lots from around $270,000.

There’s plenty of value under $350,000 on the sunshine coast and the construction of the new Sunshine Coast University Hospital will support jobs growth and long term buyer demand.


If the Sydney metro area is what you’re looking for, then head to the west and south west for bargain buying where you can pick up houses in suburbs like Lethbridge Park for under $300,000. Be quick though! Figures from SQM Research show the suburb’s house prices have skyrocketed by 24.4% over the last 12 months.

Blacktown also has 1 bedroom and some 2 bedroom units priced below $350,000. The transport options are good in Blacktown is though it’s enjoying strong population growth, Blacktown remains affordable…for now. House prices have risen 21% in the past year.


It can be challenging for buyers in Canberra with a budget below $350,000, however for this sort of money you can pick up a 1-bedroom apartment around Braddon, Lyneham or Kingston. These suburbs all are within a short commute to the CBD and construction activity has increased the supply of apartments helping to keep prices down.


If you’re quick, it may be possible to snare an apartment in Altona (Julia Guillard’s former suburb) for under $350,000. If you miss the boat there, cast your eye over Melbourne’s northern suburbs. Craigieburn’s new bypass and shopping centre are making the area popular and offers some great deals on new homes priced under $350,000.


Hobart has a median dwelling price of $340,000 and offers plenty of options for buyers with a budget of $350,000. Vacant lots can be found from around $100,000 in both Launceston and Hobart and first home buyers are benefitting from a beefed up First Home Builder Boost – enlarged from $8,000 to $23,000 at the end of 2013, and that’s on top of the $7,000 First Home Owner Grant.


Adelaide’s southern suburbs are set to boom following the completion of the Southern Expressway duplication project (in mid-2014). Seaford and similar suburbs are worth a look with houses are priced from under $350,000 though values are likely to rise. The addition of new commuter facilities at Seaford’s bus and rail interchange will help to cut travel times to the Adelaide CBD.

Beachside Glenelg is great for apartment buyers with homes available for under $350,000. It’s a suburb with a great vibe, a glorious beach and the city centre is just a 15 minute drive away.


Don’t be put off by Perth’s median dwelling price of $525,000. There are still pockets of affordability – like Victoria Park, where 1-bedroom and some 2-bedroom units are still available for under $350,000.

Buyers who are prepared to live a little further out can pick up land priced from the low $100,000s in Armadale, or keep an eye out for duplexes priced from about $250,000.


The median dwelling price in Darwin has been pushed to around $530,000, due to intense investor activity making the top end capital a challenge for buyers on a tight budget. Single bedroom apartments can still be picked up for less than $350,000 in Nightcliff, or take a look at the new small lot homes in Palmerston – some have price tags below $350,000.

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