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You are right you do get what you pay for. That is the ugliest and dumbest floor plan ever - the toilet is situated in front of the living (charming stuff that). Then again $260,000 is super cheap. You would pay double that for something decent and turnkey. Also what are the conditions of...

Single storey? double storey? what does your block look like? flat? steep? excavation required? is it soil? is it rock? whats included in construction? landscape? concreting? driveway? air con? what do you specifically get for $260k because that is dirt cheap.