Budgewoi is a suburb located on the Central Coast of New South Wales, Australia, as part of the Wyong Shire local government area. Budgewoi itself is located more than 100 km north of the Sydney central business district.Much of the town is surrounded by water; Lake Munmorah, Budgewoi Lake and the Pacific Ocean. An Ideal spot for water enthusiasts. Long an area of retirees and holiday homes, rising housing prices in the Sydney metropolitan area during the 1990s has seen it become a sleeper town, with increasing numbers of people commuting to the Sydney metropolitan area daily.