A young couple from Sydney couldn’t afford to buy a home to live in, so they came to us ready to rentvest. Six months of conversations later, they own a low-set brick home on 650m² in Grovedale, Geelong. It’s a property they can comfortably hold for the next decade.
The client: Sydney buyers ready to rentvest
Buying a home to live in Sydney was out of reach, so this couple changed the plan. They’d keep renting where they wanted to live and buy an investment somewhere the numbers worked.
Their brief was clear. They wanted an affordable property they could keep for the next 10 years, one that would hold steady through the market’s ups and downs and benefit from cyclical growth.
The property: a low-set brick home on 650m²
It’s a three-bedroom, one-bathroom low-set brick home on 650m², in a cul-de-sac where most of the neighbours own their homes. It was clean and tidy, and tenantable from day one.
There’s nothing flashy about it, and that’s deliberate. Good land, solid construction and a street people stay on are what carry a long-term hold.
The why: comfort over the long run
Growth gets the headlines, but a property only works if you can afford to keep it through the flat years. Before we looked at a single listing, we spent hours with this couple on detailed cashflow modelling. Together we worked out, to the dollar, the holding costs they were comfortable carrying.
That figure decided the location and the asset. Everything else came after.
The how: numbers first, then the market
We first spoke six months before they signed, and we guided them through the decision over many conversations. Once the numbers were settled, we narrowed the search to Victoria and focused on established house and land in suburbs with lots of owner-occupiers.
Grovedale stood out for four reasons:
High owner-occupier rates
Close to amenity
Good access to the city
Limited supply
We secured the home on Landsdowne Court below recent comparable sales.
The neighbourhood: Landsdowne Court, Grovedale
Landsdowne Court is a quiet cul-de-sac within walking distance of the local park and playing fields. It sits in an established Geelong pocket close to everyday conveniences.
As their equity and incomes build, there’s clear cosmetic value to add. Down the track, there’s also room for a secondary dwelling, subject to council approval.
Bought to hold, built to grow.
Thinking about rentvesting?
If you’re priced out of buying where you live, rentvesting can get you into the market on terms you can hold. We start with your numbers, then find the market that fits.