The Aussie homes you can snag under $400k!

If you’re ready to start shopping around and put a deposit on your next home, it could be worth your while to see how far your dollars can go in each state.

The prospect of getting on the property ladder in Australia is something that is becoming less and less manageable for all but the very wealthy, but purchasing your own home may not be an impossible dream — with some properties currently on the market for under $400,000.

And while there is something for your money in almost every state, before you buy, it’s worth doing your research on the property and area to make sure it suits your lifestyle.

TODAY chatted with CEO of Property Buyer and Buying Blind Expert Rich Harvey to find out what $400,000 gets in across the country.

TODAY: What kind of house can you buy for under $400,000?

HARVEY: Well there are a number of properties around the country you can buy for under $400,000. In Queensland you can look at a place called Rothwell which is in the Redcliff peninsular, it’s about 30 minutes north. It’s got the new train station going through so that’s a new bit of infrastructure so you can look at this house for around the $400,000 mark.

QUEENSLAND: ROTHWELL

TODAY: Now on to NSW… and Newcastle is pretty affordable?

HARVEY: Newcastle is a great lifestyle area to buy in, it’s only an hour and a half north of Sydney. It’s got a new train line going through the centre of the city, new law courts, new university and this area in Lambton is a really nice inner city area. If you can buy there and get a renovator it’s the perfect area to buy in.

NEW SOUTH WALES: NORTH LAMBTON

TODAY: And you found a little gem in Sydney as well?

HARVEY: Well if you’re looking to buy in Sydney and you want to stay, Potts Point 24 square metre studio unit – yes you can get a little foot into the market. Perhaps a good little investment property… you can get a little foot in.

NEW SOUTH WALES: POTTS POINT

TODAY: Let’s look at Victoria… you found a property in Western Melbourne?

HARVEY: Western Melbourne in Melton it’s a really popular area for first home buyers and investors as well. The median house price around there is just over the $400,000 mark and this one has even got a pool. So if you’re an investor you wouldn’t buy it but certainly for lifestyle for a home buyer you’d look at this.

VICTORIA: MELTON

TODAY: And money goes a bit further in South Australia?

HARVEY: Look lovely area in South Australia it’s Seaford… this area is 35 minutes to the south it’s near Noralunga which is a really popular area. It’s got waterways, jetties, shops, it’s just a really attractive area and great for families.

SOUTH AUSTRALIA: SEAFORD

TODAY: And Western Australia?

HARVEY: And in Western Australia we’re looking at Butler which is 41 kms north of the city. This area is again really great for families, close to the beach, got a tram line down to Perth and it’s certainly a very affordable area too.

WESTERN AUSTRALIA: BUTLER

TODAY: What are your overall key tips for buyers?

HARVEY: My key tips for any buyers at the moment are don’t skimp on the research. You’re got to look at the micro and macro factors and market sentiments come off a bit, interest rates are still low but you’ve really got to look at the area and go what’s driving the market, what’s happening in the actual market. The other thing is to look at the local market drivers like who is moving in and who’s moving out – look at those demographics. And the third thing I’d say is consider using a buyer’s agent if you need help, get someone that’ll find the off market opportunities for you and do all the research.

* In highlighting particular offers we are not making specific recommendations as this article does not cover all available products and may not compare all features relevant to you. Any advice provided is general in nature and does not take account of your needs, objectives or financial situation. Individuals should consider their own circumstances, and if in doubt seek appropriate advice, before proceeding.