Buying your first home is a milestone filled with excitement, anticipation, and plenty of questions. For many, Craigieburn has become one of Melbourne’s most appealing suburbs for first-time buyers. With its mix of affordability, modern housing estates, transport links, schools, and community amenities, it’s easy to see why this northern suburb has grown rapidly in recent years.
If you’re considering purchasing your first property here, this guide—brought to you by Breco Real Estate—will help you understand the process, available grants, financing options, and practical tips to get started.
Why Craigieburn Is Popular With First Home Buyers
Craigieburn offers a balance of lifestyle and affordability that makes it especially attractive for first home buyers. Here are a few reasons why:
- Affordable entry point: compared to inner Melbourne suburbs.
- Variety of housing options: From modern townhouses to large family homes in new estates.
- Transport connections: Craigieburn train station and major freeways make commuting easier.
- Education and community facilities: Schools, childcare centres, sporting clubs, and shopping centres.
- Future growth potential: Ongoing development and infrastructure projects suggest long-term value.
At Breco Real Estate, we’ve seen many first-time buyers successfully secure properties here, often using government incentives and structured finance plans to make their dream of homeownership possible.
Key Tips For First Home Buyers In Craigieburn
1. Set A Realistic Budget
Before you start browsing homes, it’s essential to work out how much you can borrow and afford to repay comfortably. Consider not only the deposit but also stamp duty (if applicable), conveyancing fees, inspection costs, and moving expenses.
Tip from Breco Real Estate: Many first home buyers underestimate ongoing costs like council rates, strata fees (if buying an apartment or townhouse), and maintenance. Build these into your budget from the beginning.
2. Get Pre-Approval Early
Having loan pre-approval gives you clarity on your price range and strengthens your position when making an offer. It also prevents disappointment later if you fall in love with a property that’s outside your borrowing capacity.
3. Explore New Developments Vs. Established Homes
Craigieburn has many new estates with brand-new builds, but also established areas with larger blocks. Decide what’s more important for you—modern design and turnkey convenience, or space and potential for renovation.
4. Factor In Lifestyle Needs
Think beyond just the house. Proximity to schools, transport, shopping, and parks should play a big role in your decision. A slightly smaller house in a great location can be a smarter long-term choice.
5. Work With Local Experts
Navigating the property market is easier when you have experienced professionals guiding you. Breco Real Estate has local knowledge of Craigieburn’s housing trends, property values, and upcoming developments—helping first home buyers make informed decisions.
First Home Buyer Grants & Incentives In Victoria
Government support can make a huge difference when buying your first home. Here are the main incentives available to eligible buyers in Craigieburn:
1. First Home Owner Grant (FHOG)
- A $10,000 grant is available for buying or building a new home valued up to $750,000.
- The property must be your principal place of residence.
2. Stamp Duty Concessions
- Full stamp duty exemption for first home buyers on properties valued up to $600,000.
- Concessions apply for homes valued between $600,001 and $750,000.
3. First Home Guarantee (Part of the Home Guarantee Scheme)
- Allows eligible buyers to purchase a home with as little as 5% deposit without paying Lenders Mortgage Insurance (LMI).
- Limited places are available, so it’s worth applying early.
4. Regional First Home Buyer Guarantee
- Although Craigieburn is not regional, some nearby areas may qualify, so always check with your broker or Breco Real Estate for updated information.
Financing Your First Home In Craigieburn
Financing is often the most overwhelming part of buying your first home. Breaking it down step by step makes the process clearer.
1. Saving For A Deposit
Most lenders require a deposit of at least 5–20%. With grants and guarantee schemes, however, you may be able to buy sooner with a smaller deposit.
2. Understanding Loan Types
- Variable loans: Interest rate may change over time, offering flexibility.
- Fixed loans: Interest rate stays the same for a set period, giving repayment certainty.
- Split loans: A mix of both fixed and variable features.
3. Lenders Mortgage Insurance (LMI)
If your deposit is less than 20%, most lenders will charge LMI. However, schemes like the First Home Guarantee can help you avoid this cost.
4. Using A Mortgage Broker
A broker can compare multiple lenders and find the right product for your needs. Breco Real Estate regularly works alongside reputable brokers who specialize in first home buyers.
5. Budgeting Beyond The Purchase
Don’t forget to account for:
- Conveyancing fees
- Building and pest inspections
- Moving costs
- Initial furnishings and appliances
Steps To Buying Your First Home In Craigieburn
- Assess finances & savings – Work out your deposit, borrowing power, and eligibility for grants.
- Get pre-approval – Secure confidence with lenders.
- Research Craigieburn suburbs & estates – Decide which areas best suit your lifestyle and budget.
- Inspect properties – Attend open homes, ask questions, and take notes.
- Make an offer – Once you find the right home, submit an offer through the agent.
- Finalise finance & contracts – With conveyancing and lender approval.
- Settlement – Complete the purchase and collect your keys.
At each stage, Breco Real Estate can guide you through, ensuring no detail is overlooked.
Common Mistakes First Home Buyers Should Avoid
- Stretching your budget to the absolute maximum.
- Ignoring hidden costs (conveyancing, inspections, rates).
- Rushing into a purchase without due diligence.
- Overlooking location in favor of house size.
- Not seeking professional advice.
Final Thoughts:
Buying your first home in Craigieburn is both exciting and achievable, especially with the right preparation and support. With its blend of affordability, lifestyle amenities, and strong future growth, the suburb is an excellent choice for first-time buyers.
Breco Real Estate is here to help you at every stage—from exploring the right neighborhoods, explaining grants, to negotiating and finalizing your dream home. With our expertise and local insights, your first home journey can be smoother, smarter, and stress-free.
FAQs: First Home Buyer’s Guide To Craigieburn
- Is Craigieburn a good suburb for first home buyers?
Yes, it offers affordability, lifestyle amenities, and strong growth potential compared to many Melbourne suburbs. - What is the average house price in Craigieburn?
As of 2025, prices generally range from mid-$500,000s for townhouses to $700,000+ for larger family homes, though this varies by estate and property type. - Can I use the First Home Owner Grant for established homes in Craigieburn?
No, the FHOG only applies to new builds or newly built homes. - How much deposit do I need for my first home in Craigieburn?
Most lenders require 5–20%. Some schemes allow you to buy with as little as 5% without paying LMI. - Do first home buyers pay stamp duty in Craigieburn?
No, if the property is valued under $600,000. Concessions apply up to $750,000. - Should I buy in a new estate or an established area of Craigieburn?
It depends on your priorities. New estates offer modern builds, while established areas may have larger land sizes and more mature communities. - How do I apply for first home buyer grants in Victoria?
You can apply through your lender or conveyancer, who will assist with the paperwork. - How long does the buying process usually take?
From pre-approval to settlement, it typically takes 2–3 months, depending on circumstances. - What role does Breco Real Estate play in the process?
We guide buyers through every step—from property searches, market insights, negotiation, and liaising with brokers and conveyancers.
10. Is Craigieburn expected to grow in value?
Yes, with ongoing infrastructure, schools, and transport projects, Craigieburn is considered a growth suburb for long-term investment.