If you’ve ever scrolled through Melbourne property listings and felt your hopes fade after seeing the prices, you’re not alone. With median house prices still well into the $900,000s, buying a home on your own in 2025 can feel like a long shot.

But here’s the thing — it’s not impossible. Single-income buyers are still making it happen, and not just by luck. They’re doing it with smart planning, some discipline, and by using every tool and scheme available to them. If you’re a single applicant, don’t let traditional barriers stop you. Lenders, government schemes, and affordable suburbs are creating more opportunities than you might expect. If you’re serious about owning your own place, there’s a way forward.

Is It Really Possible to Buy Solo in Melbourne Right Now?

Yes — but you’ll need to approach it with a smart strategy. Prices in Melbourne’s blue-chip suburbs might be out of reach for most single buyers, but there’s more to the city than Toorak and Brighton.

In fact, cooling prices in certain growth corridors and outer suburbs are opening new doors. If you’re willing to be flexible about location and property type, you will find something that fits your budget — and still offers long-term potential for growth.

It also helps to have a strong savings history, minimal debt, and a clear plan before you start. These things can make a big difference when you sit down with a lender.

How Lenders Look at Single-Income Home Loan Applications

Even if your income isn’t huge, you can strengthen your application by showing consistent savings habits and keeping your financial commitments under control. When you’re applying for a home loan on a single income, lenders are weighing up one main question: Can you handle the repayments comfortably on your own?

To answer that, they’ll look closely at:

  1. Your income versus your debts – the less you owe elsewhere, the better.
  2. Living expenses – everything from rent and groceries to streaming subscriptions.
  3. Credit history – a clean repayment record is a big plus.
  4. Job stability – steady employment reassures lenders you’ll keep meeting repayments.

Government Schemes That Could Give You a Boost

If you’re buying solo, you don’t have to do it completely alone. A number of government schemes are designed to help first-time and lower-income buyers into the market.

  • The First Home Guarantee Scheme – allows eligible buyers to purchase with just a 5% deposit and avoid Lenders Mortgage Insurance, which can save you thousands.
  • Stamp duty concessions – in Victoria, stamp duty concessions for first home buyers can also make a big difference to your upfront costs.
  • First Home Owner Grant (FHOG) – if you’re buying a new property under $750,000, you may qualify for the First Home Owner Grant.

These programs can be game-changers. It can dramatically cut your upfront costs and help you get into the market sooner, especially if saving a big deposit has been the main hurdle.

Tips to Strengthen Your Application on One Income

If you’re applying for a home loan on a single income, it helps to stack the odds in your favour before you even hit “apply.” Lenders want to see signs that you’re in control of your money — so the more reasons you give them to feel confident, the better.

A few things usually make a difference:

  • Pay down debts first. Clearing credit cards or personal loans boosts your borrowing power and makes your finances look cleaner.
  • Show steady savings. A pattern of putting money aside each month tells lenders you’re disciplined and can stick to commitments.
  • Get pre-approval. It’s not just a formality — it sets your budget early and shows sellers you’re serious when you find the right place.
  • Avoid new credit. Even a small store card or short-term loan can raise a red flag during the process.
  • Know your budget inside out. A clear plan for how you’ll manage repayments gives lenders confidence that you’ll stay on top of things.

It’s not about being perfect — it’s about showing you’re prepared, realistic, and ready to handle the responsibility of a mortgage on your own.

The Best Suburbs in Melbourne for Single-Income Buyers (2025 Edition)

Affordability is the biggest hurdle for single buyers, so the search often starts in Melbourne’s outer and emerging suburbs.

  • In the west, Werribee and Tarneit offer train connections, family-friendly amenities, and prices that are still within reach.
  • Heading north, Craigieburn and Mickleham have strong infrastructure growth and plenty of new developments.
  • For those who prefer the east, Boronia and Bayswater provide more affordable entry points while still offering good amenities and transport links.
  • Closer to the city, suburbs like Sunshine and St Albans are in the midst of gentrification, with improving facilities and promising potential for long-term capital growth.

These areas might not be your forever home, but they can be a smart first step — giving you the equity you’ll need to upgrade later.

How Original Wealth Can Help You Buy Solo

At Original Wealth, we meet plenty of people who assume buying solo in Melbourne just isn’t possible. The truth? It’s harder, sure, but not out of reach. We start by getting a real sense of your finances and what you’re aiming for, then connect you with lenders who actually understand single-income borrowers. From there, we shape the application so you’ve got the strongest chance of a “yes” and walk beside you through every stage — pre-approval, loan choice, settlement.

Buying on your own can feel overwhelming at first. But you don’t need to figure it all out by yourself. With a bit of planning and the right guidance of mortgage broker, it’s more doable than most people think.

Conclusion

Yes, the Melbourne market is competitive. And yes, buying on one income usually means a few trade-offs — maybe a smaller place, maybe a suburb you hadn’t first considered. But if you plan carefully, budget with intent, and lean on good advice, solo homeownership in 2025 is still a real option.

Book a free consultation today. We’ll map out a loan strategy that fits your income, your lifestyle, and your longer-term goals.