The new construction method known as Industrialized Building System (IBS) offers several benefits compared to the Conventional Building System (CBS); however, IBS is perceived by most of the practitioners to be an expensive method for being utilized in construction industry. Whilst relatively numerous studies have been carried out on the subject of IBS and CBS methods, there has not been any exploiting building information modeling (BIM) as a useful tool to calculate quantities, time, and cost needed to construct building with each of the two aforementioned methods. The aim of this paper is to calculate cost of two similar buildings (one is constructed with IBS method and other one with CBS method) and compare them in terms of economy based on a chosen case study and same initial investment. To this end, the construction cost of buildings is calculated using BIM software, namely Revit Architecture and Navisworks Manage for modeling the chosen case study and estimating construction cost, respectively. The findings indicated that IBS was not economic in low investment of company; however, with investment on more than 100 units of IBS, this method was shown more economical compared to CBS method. In addition, the initial investment on IBS method could be returned when more than 200 units of IBS were implemented in the projects.