In Australia, the trend of being energy efficient within modern multi-storey buildings has been more popular in recent years. However, lack of attention has been given to the residential housing in terms of the perceived benefits and actual performance. This research is to investigate the gap between the original expectation and the occupants’ satisfaction in residential energy efficient dwellings. It also aims to analyze the relationship between the satisfaction level and both the initial as well as the ongoing cost of energy efficient dwellings in South Australia. Finally, it determines whether the initial cost is proportional to the financial savings.