Seriously, there are heaps of places in Australia that fit your bill! So you might need to get a bit more specific. I can't begin to think what we could have built with just under $400k here, we spent significantly under $300k to buy land and build 3 beds and a study. You really do have a lot of options - so help us out a bit more - do you want a huge block/backyard, or is average size okay? How close do you want to be to a city? Bush, mountains, beaches? New well developed area? Older settled area? Lots of shops and public transport? More relaxed country feel?