Top 5 Affordable Home Designs for First-Home Buyers

That first home feeling? It's all about finding the perfect blend of style, quality, and affordability. Imagine a first-home buyer home that reflects your modern tastes, offers a layout that just works, and fits comfortably within your budget. It's within reach.

Explore affordable home designs crafted for Victorian living, whether you're dreaming of something cozy or need space to grow. Here are five of our top affordable home designs from our Simplicity range that balance price, functionality, and style.

1. Newton – Versatile design

Size: 12.45 squares
Bedrooms: 3-4
Bathrooms: 2
Key features:

• Space-maximising design ideal for smaller lots

• Versatile layouts to suit various needs

• Seamless blend of functionality and style for both relaxation and entertaining

The charming Newton home perfectly balances practicality and comfort. Designed to maximise every inch, its versatile layouts make it ideal for smaller lots without compromising on space or modern living. This design provides the option of three or four bedrooms that suit your lifestyle.

2. Dalton – Perfect for first-home buyers

Size: 14.25 squares
Bedrooms: 3-4
Bathrooms: 2
Key features:

• Ideal for families of all sizes

• Spacious kitchen seamlessly connecting to living and dining areas

• Perfect for entertaining and everyday living

• Smart and practical design for first-home buyers

The Dalton offers a versatile layout designed to adapt to families of all sizes. With the option of three or four bedrooms, this home provides a smart and practical solution for first-home buyers seeking both style and flexibility. Its spacious kitchen flows seamlessly into the living and dining areas, creating an inviting space perfect for both entertaining and relaxed family living.

3. Norwood – Practical comfort

Size: 14.38 squares
Bedrooms: 3
Bathrooms: 2
Key features:

• The welcoming front porch is perfect for relaxing and enjoying the outdoors.

• A perfect balance of practicality and charm

• Ideal for growing families or those seeking long-term flexibility

The Norwood embodies simplicity and seamless comfort, adapting effortlessly to your evolving lifestyle. Offering three or four bedrooms, this charming home provides the perfect balance of practicality and style, making it an ideal choice for starting a family or planning for the future. The Norwood promises convenience, flexibility, and a welcoming atmosphere for every stage of life.

4. Rixton – Modern living at its best

Size: 14.21 squares
Bedrooms: 3
Bathrooms: 2
Key features:

• Open living area for entertainment and gatherings

• Zoned living and bedroom areas for enhanced privacy

• Ideal balance of comfort and practicality

• Perfect for both relaxation and entertaining

The Rixton is an impeccably crafted home that caters to modern families. It combines functionality and style while maintaining affordability. Designed with distinct living and bedroom zones, it also offers serenity and relaxation, ensuring peace and privacy for every family member.

5. Subic – The dream family home

Size: 15.35 squares
Bedrooms: 3
Bathrooms: 2
Key features:

• Focus on individual preferences and versatility

• Centrally positioned kitchen connecting indoor and outdoor living

• Cost-effective design without compromising on style.

The Subic is perfect for families who need space and functionality while staying within a budget. Its thoughtful design ensures comfort and efficiency in every corner. Whether enjoying a quiet evening or entertaining, the Subic offers seamless functionality and style.

Making home ownership more affordable: Grants & incentives

Making home ownership more affordable is a key priority for many, and thankfully, both state and federal governments offer several avenues to help first-home buyers achieve their dreams. Victoria offers various grants and incentives to make first-home buyer homes even more accessible:

• First Home Owner Grant (FHOG): Eligible first-home buyers in Victoria can receive a $10,000 grant when they buy or build a new home. There are eligibility criteria, including property value. This grant is scheduled to conclude at the end of the 2024/2025 fiscal year (June 30th).

• Stamp Duty Concessions: First-home buyers in Victoria may be eligible for stamp duty concessions, meaning they pay reduced or no stamp duty. However, the level of concession depends on the property value.

• First Home Guarantee: The First Home Guarantee (formerly known as the First Home Loan Deposit Scheme) allows eligible first-home buyers to purchase a property with a deposit as low as 5% without needing to pay Lenders Mortgage Insurance (LMI). This is a federal government initiative, not specific to Victoria. While the enabling legislation has passed, the official start date is pending further announcements.

These combined initiatives can make a substantial difference in affordability, allowing more Victorians to step onto the property ladder. For the most current information and to confirm your eligibility, please consult the State Revenue Office Victoria's official website or contact them directly. Visit the Victoria State Revenue Office to check your eligibility.