America's first 3D-printed house for sale in Long Island

The world’s first 3D-printed home has hit the market.

The three-bedroom, two-bathroom house with a two-car garage and made with 3D cement is going for $299,999 in Riverhead, New York, making the property a bargain compared with the average cost of homes in Long Island. The home is nestled on a 0.26-acre lot and features 1,407 square feet of living space.

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“In terms of cost savings, you could save a lot of money doing this,” FOX Business’ Kristina Partsinevelos told "Mornings with Maria." “You just pay for the land and the house can be made very quickly.”

While the model house is on display in Calverton, the house for sale will be built by 3D printing company SQ4D in Riverhead with a 3D printer and a robot. The construction is set to begin in the spring when weather conditions are better.

SQ4D’s groundbreaking autonomous robotic construction system aims to drive down construction costs by making homes faster and increasing safety with less reliance on human workers. The process is three times faster than traditional construction and brings down construction costs by 70%.

The director of operations at SQ4D, Kirk Anderson, told FOX Business that once the machine is placed on the lot, it prints out the house on the spot by laying concrete layer by layer from the foundations up to the interior and exterior walls. Construction can be done in roughly 48 hours, and the dwellings can be installed on any plot of purchased land.

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Even though the lot tacks on an additional cost, Anderson says that the overall unit can offset any cost of some expensive land.

“We come in and we do 41% of the build, we print the walls and we show you that this is going to reduce costs up to 70% of that 41%,” Anderson said.

In other words, the overall expense of a 3D home is much cheaper than a typical property, especially in the Riverhead location, where the average home in the area is $449,000, according to the real estate agent showing the home.

With home prices soaring and inventories low, the affordable price tag represents a major step toward addressing the affordable-housing crisis. The company is looking to expand its construction technology, using its machines to meet a global demand to produce low-cost and sustainable homes.

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And it couldn’t come at a better time, with Long Island real estate ripe from the influx of New York City residents looking to settle in suburban areas with more space.

The emerging manufacturing technique is poised to disrupt the construction industry, especially as the technology becomes more accessible and commonplace.

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Fox Business' Kristina Partsinevelos contributed to this story.