[Craig T]

Speeder, I just went through this exercise with building contractors on two identified lots. One was on Johns Island, SC and the other in Hilton Head, SC. Both were water access 1 acre lots at under $100K. Building a 2,500 sq ft one story worked out to be about 25% more expensive than buying a finished house in the same area.

Most builders have good boilerplate plans for around $5000, but permits ran as high at $30K, even more with a dock permit, and can take up to a year. I see guys saying a basic house can be built for $100-$150 sq ft, but I did not find that. I'm not looking for a show-off house in retirement, but do want a decent kitchen and master bath, hardwood floors, and granite counters. About the cheapest I could get that down, even in SC, was $250 per sq. Coastal water lots in SC have some extra raised foundation costs, but that was about $20 per sq.

In a hot RE market, you better budget $250 per sq.