Move west pays off for land buyers

By April 23, 2018Community, News

By AIDAN DEVINE, Daily Telegraph 21 April 2018

THEY didn’t purchase it solely with capital growth in mind but Paul and Jocelyn Zakostelesky’s purchase of a block in southwest Sydney has proved an excellent investment. The couple purchased the land in Mulpha estate Mulgoa Rise in 2011 and built a double-storey house and a swimming pool. All up, the purchase cost them about $700,000.

“We recently had it revalued and the (value) has doubled in just five years … it was a pleasant surprise,” Mrs Zakostelesky said.

The couple had liked the area because it was close to Penrith and offered the chance to get mountain views while still being accessible.

“It was perfect for us. It is close to amenities and parks and the local shops have been expanded. We feel like we’re four minutes away from everything,” Mrs Zakostelesky said, adding that the larger blocks in the area were also appealing for their family of three children.

She credited their home’s steep value growth to the area’s increasing popularity. “I feel like we benefited by buying here before a lot of other buyers came to the area. “It is also shows the difference that quality finishes can make. When we first looked at Mulgoa Rise it did have a more prestige feel than many of the other developments we saw.”

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