Looking for a house in Sydney for under $1 million? Make the smart choice on buying home and land in Sydney and enquire today.
If the average price of a house in Sydney is currently over $1 million, where do you find a more affordable house in Sydney?
Right now, there are three rules of thumb for finding affordable residential property in Sydney, that you don’t have to fight a dozen other people at auction to get your hands on.
Building new costs less than buying second-hand
Buying a greenfield block of land – in other words, a piece of land that hasn’t been built on before – and building a house can be achieved for hundreds of thousands less than buying an existing home in Sydney.
Go west to find affordable property
A trade-off for price is that the vast majority of available greenfield land is on Sydney’s outer fringe, stretching between the north-west and south-western suburban parts of the city. By public transport, these areas are 45 minutes to an hour’s travel time to the Sydney CBD – but much closer to secondary CBDs including Parramatta, Liverpool and Penrith.
It’s these parts of Sydney where much of the city’s projected 1.2 million extra residents will live in a decade’s time.
Look for registered land, and build smart
Another consideration when buying and building is that, unlike buying second-hand, it takes a lot longer. The most time-consuming part of the process is usually land registration, which can take up to 18 months depending where you’re buying land.
The build time can be cut down considerably by buying a piece of land that’s already registered, or close to being registered. At any one time, Rawson Homes has registered land parcels available across its Sydney and Hunter region locations – meaning you could be ready to start building within six weeks of laying down your land deposit.
We sometimes have house and land packages available in Sydney for under $1 million but these sell quickly. Contact us today to see if we have any available.