Monday, February 16, 2015

In the Beginning

So, we spent almost 3 years looking around Western Sydney for new land developments before we ended up in Elara.  We had a look at The Ponds, Bunya, Ropes Crossing and North Kellyville.  All of which we didn't push through, maybe because we weren't ready yet or the prices were a bit over our budget.  ;(

Year 2013, devastated with our previous endeavours of finding the right land, our search for our new home came into a halt and shifted our interest in purchasing an investment property.  Plus, we thought that it was a good time for us to enter the property market and start our portfolio at the age that we were in (i.e. 25 y/o **wink wink**). The plan was to create a property portfolio and maybe midway through, purchase the residential home that we want. Luckily, we were successful in closing a deal for our first investment property in Berkley (Wollongong area).  It was a great learning experience and would definitely do it again.

As the house and land prices soared, we thought that we need to step up our game.  Early 2014, we revisited land developments and found our foot inside Greenway Living's doorstep.  This estate was situated in Marsden Park.  The word on the street was that there will be a big development in that area and property growth looked very promising. We fell in love with a house and land package that was offered by Greenway Living, and the price was just inside our budget. We were ready to jump in but there was a big buzz -- Stockland had started to develop an estate in Marsden Park also, not far from Greenway.  That was the Elara Estate.

So we dropped Greenway and secured a land from Stockland's second release (Melaleuca Release).  The lot we got had a size of 483sqm @ $350K.  We were fortunate that the demand that time was not so high.