Buying in Melbourne’s North: 2025 Guide for South Asian Families | Everest Home Loan Copy
The Insider’s Guide to Buying in Melbourne’s North (2025 Edition)Subtitle: Why Nepali and Indian Families are choosing the Northern Growth Corridor
If you drive through Craigieburn, Epping, or Mickleham today, you will notice something special. It isn't just the new roads or the shopping centres—it is the sound of community. You are just as likely to hear Nepali, Hindi, or Punjabi spoken at the Craigieburn Central food court as you are English.
For South Asian families, the Northern suburbs have become more than just an investment; they are a "home away from home."
But buying here in 2025 is different from buying in 2020. With the Craigieburn Road Upgrade finally easing traffic and the First Home Guarantee rules changing in October 2025, the window of opportunity is wide open—if you know how to navigate it.
- As a Senior Mortgage Broker who has helped over 1,500 families settle in these suburbs, I’m sharing the advanced strategies that banks won’t tell you at the counter.
1. The "Community" Factor: Where to Buy?
When you are moving your family, you aren't just buying a house; you are buying a lifestyle. Here is the local breakdown for our community:
Craigieburn (3064): The Cultural Heart
- Why it wins: It’s fully established. You have Aus Bazaar and Authentic Spices of India for your weekly groceries without driving to Dandenong.
- Spirituality: The community is anchored by local places of worship, and you are only a short drive from the Sikh Gurdwara in Craigieburn/Mickleham.
- The "Insider" Tip: The older pockets (near the station) have larger blocks (600sqm+), perfect for building a "Granny Flat" for visiting parents. The newer estates (Aston, Highlands) offer modern, low-maintenance living but smaller land.
Mickleham & Donnybrook (3064): The Future City
- Why it wins: Value for money. You can still find brand new 4-bedroom builds for under $750k.
- Lifestyle: Weekends here mean family lunches at Dosa Hut Mickleham or Nik’s Kitchen. The Merrifield Estate is specifically designing parks for large family gatherings—perfect for Dashain or Diwali parties.
- Transport: With the Craigieburn Road upgrade completing, the "traffic nightmare" stories of 5 years ago are fading.
Epping (3076): The Convenience King
- Why it wins: Walking distance to Pacific Epping, the Northern Hospital, and the Sri Vishnu Durga Hindu Temple.
- Investment: Epping has the highest rental demand in the north due to the hospital and Polytechnic.
2. Advanced Finance: Strategies for South Asian Buyers
- This is where generic advice fails. As migrants or first-generation Australians, your financial picture is often more complex.
Strategy A: The "Family Guarantee" (Leveraging Inter-generational Wealth)
- In our culture, family helps family. But you don't need to give your children cash to help them buy.
- The Problem: Your child has a good income but only a $30,000 deposit. They face paying $15,000+ in Lenders Mortgage Insurance (LMI).
- The Solution: Use a Family Security Guarantee. You (the parents) use a small portion of equity in your own home as security for their loan.
- The Result: Your child pays $0 LMI and enters the market sooner. Note: We ensure the bank only takes a "limited guarantee" so your own home is never fully at risk.
Strategy B: Navigating "Foreign Income Shading"
- Do you still earn income from a business or property in Nepal or India?
- The Trap: Most Australian banks will "shade" (discount) this income by 20-40% or ignore it entirely due to currency fluctuation risks.
- The Fix: We know specifically which lenders (often not the Big 4) have policies that accept 100% of foreign income or use more favourable conversion rates, boosting your borrowing power significantly.
Strategy C: Visa-Specific Lending (491/482 Visas)
- If you are on a temporary skill shortage visa, many banks will ask for a 20% or even 30% deposit.
- The Fix: We have access to lenders who treat 491/482 visa holders almost the same as PR holders, allowing for 10% deposit loans in specific circumstances.
3. The October 2025 "First Home Guarantee" Update
The government has just removed the income caps for the First Home Guarantee.
- Old Rule: If you earned >$200k as a couple, you couldn't use the 5% deposit scheme.
- New Reality: High-earning professional couples (e.g., IT professionals, Nurses, Engineers) can now buy a $850k home in Mickleham with just a $42,500 deposit and pay no LMI.
Warning: Slots for this scheme fill up instantly. You need a broker who has the application "ready to lodge" the second the system opens.
Final Verdict: Which Suburb is for You?
- Buy in Craigieburn if: You want walkable access to Indian/Nepali grocers and established schools.
- Buy in Mickleham if: You want a brand new, modern home and are willing to drive 10 mins for major shopping.
- Buy in Epping if: You are an investor or healthcare worker needing proximity to the hospital.
Ready to Make Your Move?
Don't let a generic bank teller say "No" because they don't understand your visa or foreign income. Talk to a team that speaks your language and knows your story.
We speak English, Nepali, Hindi & Punjabi.
Our Services for Northern suburbs Residents
- Easy loan process & fast approvals – We handle the paperwork while you focus on your family
- Sharp rates & more lender options – We find the best fit among 30+ lenders, not just banks
- Local guidance, lifetime support – Help even after you get your home; always just a call away
- Support for New Migrants: We simplify the process if you’re new to Australia and help build your credit story quickly
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Kandel & Co Pty Ltd t/a Everest Home Loans is an Authorised Credit Representative – 506833, and Rajesh Kandel is an Authorised Credit Representative number – 476341 of Connective Credit Services Pty Ltd ABN 77 161 731 111 (Australian Credit Licence No.389328).