Thanks ladies
Keep the replies coming, its very very helpful and validating to know that a bassinet really isn't necessary.

BW - the heating the room thing too was another reason - bubs will arrive smack at the start of winter and we live in a very cold part of Adelaide (basically its freezing!) and have not got central or ducted heating. We use a heater in our room to take the chill off, and I don't want to have heaters running in two separate rooms.

I was just planning on dressing bub warm or using a sleeping bag, swaddling and using one blanket over the top. Because I feel the cold so much I'm really worried about bub being cold - I don't know how to overcome that worry but I'm sure I'll figure it out