Recent research* shows that the cost of building a home in Sydney was close to $360,000 cheaper that buying an existing dwelling (based on median prices), which means that building is becoming the more affordable new home strategy in New South Wales.
For instance, the Bridgewater 186 design offers an affordable family home starting from only $240,000** and features four bedrooms, walk-in wardrobe, ensuite bathroom, large family and dining room and a study nook that can be used for further storage. This nicely presented home suits narrow frontage and offers six different façades to choose from, the classic façade being the starting option. Inclusions may vary depending on your builder but will always include floor coverings (tiles and carpet), driveway and laminated kitchen. However, landscaping will come at an extra cost.
The advantage of this design is that it is highly customisable to suit your lifestyle, taste and budget. Popular upgrades include different façade options, coloured metal roof, concrete renders, exposed aggregate driveways, stone benchtops, and different gabled roof options to jazz up the façade.
Overall, building is certainly more cost effective with minimal maintenance and repairs compared to an existing dwelling, especially in the first five years.
**Price will vary per location, check with local builder