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Family resells rundown house for $400k more than they paid 10 months ago



39 Kulgoa Ave, Ryde sold for $1.71 million.

A family of home sellers in Sydney’s northwest have pocketed nearly $400,000 profit over just 10 months despite doing close to nothing to improve their rundown property.

The sellers had snapped up the Kulgoa Rd house on a dilapidated 484sqm block for about $1.32 million in August and resold it last week for $1.71 million.

The family’s original plan was to knock the house down and replace it with a modern build but they had a change of heart and decided to resell it, according to the agent.

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They had sought development approval for a single level house on the block…

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