Desperate to get onto the property ladder and thinking, “where can I buy a home for 100k?” You’re not alone. Buying property can be a daunting task in today’s competitive market, especially if you’re a first home buyer.
But don’t lose hope, there are still ways to break into the property market besides looking for the cheapest houses in Australia. Homeownership is the dream of many people, but it can be out of reach for many because of the high cost of housing in Australia. However, there are still some places where you can buy a home for $100k or less. And we’ve got them rounded up just for you.
While you can’t buy a house with no money, you can still find affordable homes if you keep your ear to the ground. Set up your match profile on Soho and add these suburbs to your interested areas so you don’t miss any new listings that come on the market.
Broken Hill NSW and Ouyen VIC have a few properties for sale around $100k, presenting great entry points to the property market. The types of homes range from one-bedroom apartments, two-bedroom townhouses, to three-bedroom houses, which may just require a bit of a renovation project to turn them into your dream home.
Additional reading: Check out Soho’s round up of 5 Homes Under 100k You Can Buy Right Now.
What to consider when looking for a home for $100k in Australia
Location
The location of the home is one of the most important factors to consider. You want to find a home in an area that is affordable, but that also offers good amenities and a sense of community.
Condition
The condition of the home is also important. You want to find a home that is in good condition, so that you don’t have to spend a lot of money on repairs.
Size
The size of the home is also important. You need to decide how much space you need, and how much room you can afford.
Type of home
There are many different types of homes available for under $100k, including apartments, townhouses, and houses. You need to decide what type of home is best for you and your family.
How to start the home buying journey
Do your research
Before you start looking for a home, it’s important to do your research. This includes researching different areas, different types of homes, and different financing options. But it also is about knowing what you want and need from this home.
Talk to a real estate agent
A real estate agent can help you find homes that meet your needs and budget. They can also help you negotiate the purchase price and close the deal.
Get pre-approved for a loan
Before you start looking at homes, it’s a good idea to get pre-approved for a loan. This will give you an idea of how much you can afford to spend, and it will make the buying process go more smoothly.
If you’re looking for a home for $100k, there are still some great opportunities available. By following the tips in this article, you can increase your chances of finding the right home for your needs.
Where to find homes under 100k
New South Wales
Broken Hill
Median house price: $183,125
Broken Hill is a small city in far western New South Wales, Australia. It’s known for its mining history, its unique outback culture, and is one of the cheapest places to live in Australia.
It has a small-town feel, with a friendly and welcoming community. There are plenty of parks and green spaces, and the city is home to a number of museums and art galleries. The city also has a vibrant arts and culture scene, and is home to the Broken Hill International Piano Competition.
However, Broken Hill is also a remote city, and it can be a bit isolated. The nearest major city is Adelaide, which is about 800 kilometers away. This can make it difficult to access certain amenities and services.
But Broken Hill is one of the most affordable cities in Australia. The median house price is around $150,000, and the cost of living is generally lower than in other parts of the country. This makes it a great option for people who are looking for an affordable place to live.
Overall, Broken Hill is a great place to live if you’re looking for an affordable, outback city with a friendly community and a vibrant arts and culture scene. However, it’s important to be aware of the remote location and limited job and income opportunities before making a decision to move there.
Wellington
Median house price: $280,000
Wellington is a suburb of the city of Newcastle, New South Wales, Australia. It is located on the Hunter River, about 15 kilometers from the city center. Wellington is a popular suburb for families and retirees, and it is known for its affordable cost of living and its relaxed lifestyle.
Wellington is a very liveable suburb. It has a small-town feel, with a friendly and welcoming community. There are plenty of parks and green spaces, and the suburb is home to a number of schools, shops, and restaurants. Wellington is also close to the Hunter River, which provides opportunities for swimming, fishing, and boating.
Wellington is one of the most affordable suburbs in Newcastle. The median house price is under $300,000, and the cost of living is generally lower than in other parts of the city. This makes it a great option for people who are looking for an affordable place to live.
Explore more real estate for sale in Wellington NSW.
Victoria
Murtoa
Median house price: $250,000
Murtoa is a small town in the Wimmera region of Victoria, Australia. It is located about 250 kilometers north-west of Melbourne. Murtoa is a popular destination for retirees and people looking for an affordable place to live.
Murtoa is a very liveable town. It has a small-town feel, with a friendly and welcoming community. There are plenty of parks and green spaces, and the town is home to a number of schools, shops, and restaurants. Murtoa is also close to the Wimmera River, which provides opportunities for swimming, fishing, and boating.
Murtoa is one of the most affordable towns in Victoria. The median house price is around $250,000, and the cost of living is generally lower than in other parts of the state. This makes it a great option for people who are looking for an affordable place to live.
Explore more real estate for sale in Murtoa VIC.
Ouyen
Median house price: $215,000
Ouyen, VIC, is a suburb that offers a mix of liveability and affordability. With a peaceful and laid-back atmosphere, it appeals to those seeking a quieter lifestyle away from the bustle of larger cities. The community-oriented environment fosters a sense of belonging among residents.
However, it’s essential to consider that being a rural area, Ouyen might have limited amenities and job opportunities, which could impact some individuals’ preferences.
In terms of affordability, Ouyen generally offers lower property prices compared to more urbanized regions. This makes it an attractive option for homebuyers and renters on a budget. But, potential residents should take into account the distance from major cities and potential transportation costs. Overall, Ouyen could be an ideal choice for those seeking a tranquil living experience at a more affordable cost.
Check out this property, a three-bedroom house just a short stroll from the heart of town complete with a lounge room within your budget.
Explore more real estate for sale in Ouyen VIC.
Queensland
Bundaberg
Median house price:$349,000
Bundaberg, QLD, offers a moderately livable and affordable suburban environment. With its pleasant climate and access to nearby beaches, the area attracts residents seeking a relaxed lifestyle.
The town provides a range of amenities, including schools, healthcare facilities, and recreational options, contributing to its livability. However, potential residents should be aware of occasional flooding risks due to its proximity to waterways.
Regarding affordability, Bundaberg generally offers more affordable housing options compared to major urban centers in Queensland, giving you a chance to get onto the property ladder sooner. The cost of living, including groceries and utilities, tends to be reasonable.
Additionally, the presence of various employment opportunities can positively impact affordability for residents. As with any location, individual preferences and needs should be considered when evaluating Bundaberg’s suitability as a place to call home.
Explore more real estate for sale in Bundaberg QLD.
Clinton
Median house price:$375,000
Clinton, QLD, is a suburb known for its relatively good liveability and moderate affordability. The area offers a range of amenities, including schools, parks, and shopping centers, contributing to its appeal for families and residents seeking convenience.
Additionally, Clinton benefits from its proximity to Gladstone’s central business district, providing easy access to employment opportunities.
Regarding affordability, Clinton tends to offer housing options at a more reasonable cost compared to some other parts of Gladstone. This aspect may attract first-time homebuyers or individuals looking for affordable rental properties.
However, it’s essential to consider that market conditions can vary, impacting the overall affordability over time.
Explore more real estate for sale in Clinton QLD.
South Australia
Coober Pedy
Median house price: $84,000
Coober Pedy, SA, is a unique suburb known for its underground living due to the extreme desert conditions. Its liveability can be subjective, with some finding the distinctive lifestyle and natural surroundings appealing.
However, potential residents should consider the challenges associated with living underground, such as limited natural light and ventilation.
Affordability in Coober Pedy can vary, as the cost of living is influenced by the remoteness and the need for specialized infrastructure. Housing prices may be relatively lower than in urban centers, but utility and transportation costs could be higher.
Additionally, access to amenities and services may be limited, which could impact overall affordability for some individuals.
Prospective residents are encouraged to thoroughly research and consider their personal preferences and circumstances before considering a move to Coober Pedy, as the living experience can differ significantly from conventional urban areas.
Explore more real estate for sale in Coober Pedy SA.
Western Australia
Armadale
Median house price: $330,000
Armadale, Western Australia, is a suburb 25km southeast of Perth CBD. It’s known for its natural beauty, including the Araluen Botanic Park and heritage trails. With a diverse array of housing options, from older homes to new developments, Armadale offers affordability compared to central Perth.
Median house prices tend to be lower than the Perth average. Amenities include shopping centres, schools, and a hospital. However, its public transport connectivity with Perth CBD, while existent, may not be as frequent as some desire. Crime rates are slightly higher than average for Perth suburbs, which some potential residents may consider.
Overall, Armadale presents a balance of affordability and liveability, particularly for those who value natural attractions and a quieter lifestyle.
Explore more real estate for sale in Armadale WA.
More on finding homes under $100k
Can I buy house with $100 K in Australia?
Whether you can buy a house with $100k in Australia depends on where you want to buy a house. The median house price in Australia is around $700,000, so you would need a significant deposit to buy a house in most areas.
However, there are some areas where the median house price is lower, such as Broken Hill, where the median house price is around $150,000. So, it is possible to buy a house with $100k in Australia, but you would need to be willing to live in a less expensive area.
Can I buy a house with $100 000 deposit?
Yes, you can buy a house with a $100,000 deposit in Australia. However, the amount of the deposit you need will depend on the purchase price of the house and the lending criteria of the lender. In general, you will need a deposit of at least 20% of the purchase price, so you would need to find a house that is priced at $500,000 or less.
Why are houses in Broken Hill cheap?
There are a few reasons why houses in Broken Hill are cheap. First, Broken Hill is a remote city in outback Australia, so it is not as desirable as some other cities. Second, the economy in Broken Hill is not as strong as it used to be, so there are fewer jobs available. Third, the population of Broken Hill has been declining in recent years, so there is an oversupply of housing.
What city has the nicest houses?
This is a subjective question, as there is no one city that has the nicest houses in Australia. However, some of the cities that are known for their beautiful homes include Sydney, Melbourne, Perth, and Adelaide. These cities have a variety of housing styles, from grand mansions to charming cottages.
