Why Is a 4-Bedroom House for Rent in Green Valley Such a Good Idea?

The property in which we are living is pivotal for the well-being of our family. Yes, our housing situation is probably not the most important thing in our lives, but it is, however, absolutely crucial for our financial development. Are you planning to expand your family, are you working with your wife to move into a new suburb, more suitable for the long-term emotional development of your children, and are you thinking of renting instead of buying? In such a scenario, one thing you should consider is the current property prices in and around Sydney, and the overall volatility that surrounds the housing market after the latest RBA interest rate cut.

Going for a 4-bedroom house for rent in Green Valley could be a fantastic idea, as renting a property instead of buying might give you the flexibility required in your day-to-day life and also be a more financially advantageous proposition than going for a multi-year mortgage. But why GV? Well, for one thing, you should look at the financial benefits of choosing a property in a suburb like this. Compared to central Sydney, GV is relatively affordable, with median weekly rents, for 4-bedroom properties hovering around 750-900$. 

On top of that, the property market in GV is on an upward trend, housing prices rising by 11% in the last 12 months, and the median asking price for houses now sitting at $1.15 million. GV is situated only a couple of minutes away from Liverpool, is near Cabramatta, is linked to central Sydney via the M5 motorway, it’s only 38 km away from Sydney’s CBD, and it’s a stone’s throw away from Nattai National Park. It’s a nice place to stay in and a great location for raising your family.

Why Rent and Not Buy?

It really depends on whether you benefit from the necessary funds to actually afford a 4-bedroom house for rent, or if you are eligible for a long-term mortgage. Have you for example, just sold your old flat in central Sydney for around $400k, and are you eyeing a new property somewhere in Green Valley, for somewhere in the region of $1.2 mil? In that case, you will need a mortgage. $400k would represent 33% of the deposit you’ll pay up for your new house, and since this percentage is above 20%, you will likely avoid LMI.

That said, at an interest of 6% per year, for the next 30 years, your monthly repayment will come at a bit shy of $5,000 per month, and to afford such a sum, the bank you’re applying to will need you to boast an annual income of at least $150k. Yes, at the end of these 30 years, the house is yours, and you could take advantage of the rising housing prices for properties in and around Sydney, and most likely double or even triple your initial investment. But 30 years is a really long time, and for most individuals, a 4-bedroom house for rent might be a better fit.

You cannot afford such a long-term financial aid package, even if the interest rate is favourable? In that case, the only thing left for your family is to rent. Like the property market, the average rent for units and houses listed in Sydney is on a constant growth. However, for a 4-bedroom house for rent, you could expect to pay between $750 and $1,000 in weekly rent. The money adds up, and renting, at least as a short to medium-length solution, is probably more advantageous.

It’s All About the Flexibility

The average price for a 4-bedroom house in and around Green Valley has surpassed $1.5 million, which for many Aussie families is an inaccessible sum that makes purchasing a larger property an unattainable dream. Yes, long-term, if you care about resale values and stability, the purchase of a property will be a better idea. But this doesn’t mean that going for a rental can’t have its own set of benefits. For one thing, you can be more flexible, move around, be more open to new and exciting career opportunities and simply change locations if this current one doesn’t fit with your lifestyle.

Plus, the security deposit and the first month’s rent you require to pay will be much more lenient than the 20% deposit usually asked by banks when applying for a mortgage. With renting, there are no ongoing costs that you need to worry about. A storm damaged parts of the roof? Unfortunate, but not your problem. You are not the owner of the property, so you are not required to handle the house’s upkeep. Instead, the maintenance of the newly-built 4-bedroom house for rent in Green Valley will be the responsibility of your landlord. 

Why Should You Go for This Suburb?

GV is just one of the countless suburbs situated between 30 and 40km from Sydney’s CBD. But, just like places such as Cecil Hills, Busby, Bonnyrigg and Elizabeth Hills, GV has its own set of benefits that could make raising a family here a true pleasure. For one thing, GV is located near some of the most iconic natural landmarks in and around Sydney. The Blue Mountains National Park is situated just 80km away, while the Royal National Park, with its stunning waterfall formations, is just a 50-minute drive away, SE of the suburb.

Are you more into man-made attractions? If so, the Sydney Opera House is just 40km away to the East, while the famous Bondi Beach is only a one-hour drive away. The median rental price in GV is cheaper than is the case for more central suburbs, the cost of living is also more advantageous than is the case for Sydney’s CBD, and the overall focus of the community is on providing a safe and developing environment for young families looking to escape the hustle and bustle of the busier parts of the city.

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Becky

Meet the award-nominated UK lifestyle blogger behind Spirited Puddle Jumper – a mum of three living in South East London! Becky shares the real ups and downs of family life, parenting tips, and lifestyle inspiration, proving that being a mum doesn’t mean you stop being fun or having other interests! Follow along for honest insights into UK family life and opinions on a whole range of topics, from travel and food, to beauty reviews, home and DIY, business and health and wellness.